PermRock Royalty Trust Declares Monthly Cash Distribution

Rhea-AI Summary

PermRock Royalty Trust (NYSE:PRT) declared a monthly cash distribution of $131,772.12 (or $0.010831 per Trust Unit) to holders of record on February 27, 2026, payable March 13, 2026, based principally on December 2025 production.

Underlying volumes: oil 16,605 Bbls, natural gas 12,459 Mcf; oil receipts $0.95M, gas receipts $0.03M. Total direct operating expenses were $0.47M; severance and ad valorem taxes were $0.08M. T2S reported no capital expenditures this month due to completion of 2025 drilling.

Positive

• Monthly distribution of $131,772.12 declared (payable March 13, 2026)
• Natural gas price up from $2.20 to $2.68 per Mcf (+21.8% month-over-month)

Negative

• Operating expenses rose by $0.06M to $0.47M (≈14% increase month-over-month)
• Severance and ad valorem taxes increased by $0.05M to $0.08M (material rise)

Key Figures

Current distribution: $131,772.12 Per-unit distribution: $0.010831 per Trust Unit Oil cash receipts: $0.95M +5 more

8 metrics

Current distribution $131,772.12 Total monthly cash distribution based on December 2025 production

Per-unit distribution $0.010831 per Trust Unit Monthly cash distribution amount per unit

Oil cash receipts $0.95M Current month oil cash receipts, up $0.04M vs prior period

Natural gas receipts $0.03M Current month natural gas cash receipts, essentially unchanged

Direct operating expenses $0.47M Total direct operating expenses, up $0.06M from prior period

Severance & ad valorem taxes $0.08M Tax component in net profits, up $0.05M vs prior period

Oil sales volume 16,605 Bbls Current month underlying oil sales volumes

Average oil price $56.95 per Bbl Current month average received oil wellhead price

Market Reality Check

Price: $3.28 Vol: Volume 36,531 is at 0.65x...

low vol

$3.28 Last Close

Volume Volume 36,531 is at 0.65x the 20-day average of 55,866, suggesting no outsized trading reaction ahead of this distribution update. low

Technical Shares at $3.48 are trading below the 200-day MA of $3.81 and about 24.84% under the 52-week high of $4.63.

Peers on Argus

PRT’s modest 0.87% gain comes alongside strength in several oil & gas peers: CRT...

1 Up

PRT’s modest 0.87% gain comes alongside strength in several oil & gas peers: CRT up 0.7%, VOC up 1.9%, USEG up 2.74%, and INDO up 7.08%, while NRT is down 8.84%, pointing to a generally constructive but mixed sector tape.

Historical Context

5 past events · Latest: Jan 20 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 20	Monthly distribution	Neutral	-1.6%	Declared November 2025-based cash distribution of $235,849.49 to unitholders.
Dec 19	Monthly distribution	Neutral	+0.0%	Announced October 2025-based distribution of $199,572.97 to record holders.
Nov 17	Monthly distribution	Neutral	+1.0%	Reported September 2025-based distribution of $350,855.06 with operating detail.
Oct 21	Monthly distribution	Neutral	+0.5%	Declared August 2025-based distribution of $384,018.36 to unitholders.
Sep 19	Monthly distribution	Neutral	-0.3%	Announced July 2025-based distribution of $378,834.64 and operating metrics.

Pattern Detected

Recent monthly distribution announcements have generated muted single-day moves, with reactions ranging from -1.63% to +1.03%.

Recent Company History

Over the last five months, PermRock Royalty Trust has consistently issued monthly cash distribution announcements, with totals ranging from $199,572.97 to $384,018.36. Per-unit payouts moved from $0.031565 in June/July-linked periods down to $0.019386 for November 2025 production. Price reactions to these routine updates remained tight, within about -1.63% to +1.03%, underscoring a pattern of modest market sensitivity to distribution-level changes.

Market Pulse Summary

This announcement details a new monthly distribution of $131,772.12, or $0.010831 per unit, based on...

Analysis

This announcement details a new monthly distribution of $131,772.12, or $0.010831 per unit, based on December 2025 production. Underlying oil volumes rose to 16,605 Bbls, while direct operating expenses increased to $0.47M and severance and ad valorem taxes to $0.08M. Investors may focus on how rising costs and tax items affect future distributable cash, alongside trends in realized prices of $56.95/Bbl for oil and $2.68/Mcf for gas.

Key Terms

net profits interest, wellhead prices, lease operating expenses, workover expenses, +2 more

6 terms

net profits interest financial

"underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations"

A net profits interest (NPI) is a contractual right to receive a fixed percentage of a project’s or asset’s profits after allowable costs are paid, rather than a share of gross revenue or ownership. For investors, it matters because it gives upside tied to actual profitability while shielding the holder from direct operating expenses and capital calls, similar to getting a portion of the leftover profits from a business after the bills are settled.

wellhead prices technical

"underlying oil and natural gas sales volumes and average received wellhead prices attributable"

Wellhead prices are the amount a producer receives for oil or natural gas right at the production site, before costs like transportation, processing, or taxes are added or subtracted. Investors watch them because they directly determine a producer’s revenue and profit margin much like the price a farmer gets at the farm gate affects farm income—changes at the source can ripple through cash flow, valuation, and dividend or investment decisions.

lease operating expenses financial

"Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.47 million"

Costs required to keep a leased property or asset running, including routine maintenance, repairs, utilities, insurance, property taxes and management fees that the lessee or lessor must pay while the lease is active. Investors care because these recurring outlays reduce net income and cash flow from the lease—like owning a rental where you still pay for upkeep—so they affect profitability, yield and the true return on an investment tied to leased assets.

workover expenses financial

"Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.47 million"

Workover expenses are the costs a company incurs to repair, maintain or upgrade an existing oil or gas well so it can produce safely and efficiently. Investors care because these outlays affect short‑term cash flow and can boost future production and revenue—think of it like paying to repair and tune a car so it runs longer and faster; the immediate bill reduces cash but can increase the car’s value and performance over time.

severance and ad valorem taxes financial

"Severance and ad valorem taxes included in this month's net profits calculation were $0.08 million"

Severance and ad valorem taxes are two types of government charges that companies pay: severance taxes are levied when natural resources (like oil, gas, coal, or minerals) are removed from the ground, like a fee for taking something valuable out of the earth; ad valorem taxes are charged based on the assessed value of an asset, similar to a property tax that rises with the asset’s worth. For investors they matter because these taxes reduce project revenue and cash flow, change operating costs and asset valuations, and can alter the expected return on resource or real-estate investments.

capital expenditures financial

"T2S reported there were no capital expenditures this month due to completion of all drilling commenced in 2025"

Capital expenditures are the money a company spends to buy or improve big assets like buildings, equipment, or machines that will last a long time. These investments matter because they help the company grow and operate more efficiently, similar to how upgrading a home’s appliances or adding a new room can make it better and more valuable.

AI-generated analysis. Not financial advice.

DALLAS, Feb. 17, 2026 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of February 27, 2026, and payable on March 13, 2026, in the amount of $131,772.12 ($0.010831 per Trust Unit), based principally upon production during the month of December 2025.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

	Underlying Sales Volumes				Average Price
	Oil		Natural Gas		Oil	Natural Gas
	Bbls	Bbls/D	Mcf	Mcf/D	(per Bbl)	(per Mcf)
Current Month	16,605	536	12,459	402	$56.95	$2.68
Prior Month	15,857	529	14,637	488	$57.51	$2.20

Oil cash receipts for the properties underlying the Trust totaled $0.95 million for the current month, an increase of $0.04 million from the prior month's distribution period. T2S Permian Acquisition II LLC ("T2S") informed the Trust that this increase was primarily due to an increase in oil sales volumes.

Natural gas cash receipts for the properties underlying the Trust totaled $0.03 million for the current month, essentially unchanged from the prior month's distribution period. T2S informed the Trust that this was primarily due to a decrease in natural gas sales volumes that was only partially offset by the increase in natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.47 million, an increase of $0.06 million from the prior month's distribution period. T2S informed the Trust that this increase was primarily due to an increase in lease operating expenses.

Severance and ad valorem taxes included in this month's net profits calculation were $0.08 million, an increase of $0.05 million from the prior month's distribution period. T2S informed the Trust that this increase was primarily due to the application of a credit of ad valorem tax amounts in the prior month's distribution period.

T2S reported there were no capital expenditures this month due to completion of all drilling commenced in 2025.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned and operated by T2S in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and T2S's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and statements regarding T2S's operations and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by volatility in commodity prices and oversupply. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the SEC on March 31, 2025, and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

Contact:	PermRock Royalty Trust
	Argent Trust Company, Trustee
	Nancy Willis, Director of Royalty Trust Services,
	Trust Administrator
	Toll-free: (855) 588-7839
	Fax: (214) 559-7010
	Website: www.permrock.com
	e-mail: trustee@permrock.com

View original content:https://www.prnewswire.com/news-releases/permrock-royalty-trust-declares-monthly-cash-distribution-302689016.html

SOURCE PermRock Royalty Trust

FAQ

What distribution did PermRock Royalty Trust (PRT) declare for March 2026 and when is it payable?

PermRock declared a monthly cash distribution of $131,772.12, payable on March 13, 2026. According to the company, the distribution is based principally on production during December 2025 and payable to holders of record on February 27, 2026.

How much is the PermRock (PRT) distribution per Trust Unit for the March 13, 2026 payment?

The distribution equals $0.010831 per Trust Unit for this period. According to the company, that per-unit figure is derived from net profits calculations based principally on December 2025 production volumes and prices.

What drove the change in PermRock (PRT) monthly receipts compared with the prior period?

PermRock reported oil cash receipts rose primarily due to higher oil sales volumes. According to the company, natural gas receipts were essentially unchanged as lower volumes were partially offset by higher prices.

Did PermRock (PRT) report any capital expenditures for the distribution period ending December 2025?

PermRock reported there were no capital expenditures in the month because drilling commenced in 2025 was completed. According to the company, completion of 2025 drilling resulted in zero reported capex for this period.

How did operating costs and taxes affect PermRock (PRT) net profits for this distribution?

Total direct operating expenses increased and severance/ad valorem taxes rose, reducing net profits for distribution calculations. According to the company, operating expenses increased by $0.06M and taxes increased by $0.05M versus the prior period.