PermRock Royalty Trust Declares Monthly Cash Distribution

Rhea-AI Summary

PermRock Royalty Trust (NYSE: PRT) declared a monthly cash distribution of $36,445.91 (equivalent to $0.002995 per Trust Unit) to holders of record as of March 31, 2026, payable April 14, 2026, based principally on January 2026 production.

January underlying volumes: oil 12,110 Bbls (391 Bbls/D) and natural gas 34,753 Mcf (1,121 Mcf/D). Oil receipts were $0.69M (down $0.26M); gas receipts $0.03M, essentially unchanged. Total operating expenses were $0.34M (down $0.13M). Severance and ad valorem taxes were $0.08M. Capital expenditures were $4,987. The net profits calculation applied $84,933 of previously reserved funds.

Positive

• Declared distribution of $36,445.91 payable April 14, 2026
• Oil cash receipts of $0.69M despite lower volumes
• Operating expenses decreased by $0.13M

Negative

• Oil sales volumes fell to 12,110 Bbls (391 Bbls/D), lowering receipts
• Natural gas price decline to $0.79 per Mcf reduced gas revenue
• Net profits calculation relied on $84,933 of previously reserved funds

Key Figures

Monthly distribution: $36,445.91 Distribution per unit: $0.002995 per Trust Unit Oil cash receipts: $0.69 million +5 more

8 metrics

Monthly distribution $36,445.91 Payable April 14, 2026; record date March 31, 2026

Distribution per unit $0.002995 per Trust Unit March 2026 monthly cash distribution

Oil cash receipts $0.69 million Current month properties underlying the Trust

Natural gas receipts $0.03 million Current month properties underlying the Trust

Direct operating expenses $0.34 million Marketing, lease operating, workover expenses; current month

Severance & ad valorem taxes $0.08 million Included in this month’s net profits calculation

Capital expenditures $4,987 Current month tangible and intangible completion costs

Reserved funds applied $84,933 Net to the Trust from previously reserved funds

Market Reality Check

Price: $3.31 Vol: Volume 45,318 is slightly...

normal vol

$3.31 Last Close

Volume Volume 45,318 is slightly below the 20-day average of 48,029, suggesting no unusual trading ahead of this small distribution update. normal

Technical Shares at $3.38 are trading below the $3.75 200-day moving average and about mid-range between the 52-week high and low.

Peers on Argus

Only one peer, USEG, appeared in the momentum scanner, moving down while PRT was...

1 Down

Only one peer, USEG, appeared in the momentum scanner, moving down while PRT was up 2.11%, indicating this looks stock-specific rather than a coordinated royalty trust move.

Historical Context

5 past events · Latest: Feb 17 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	Monthly distribution	Neutral	-5.8%	Declared monthly cash distribution based on December 2025 production details.
Jan 20	Monthly distribution	Neutral	-1.6%	Announced monthly distribution reflecting November 2025 oil and gas production.
Dec 19	Monthly distribution	Neutral	+0.0%	Declared distribution based on October 2025 volumes, prices, and expenses.
Nov 17	Monthly distribution	Neutral	+1.0%	Monthly payout tied to September 2025 production and applied reserved funds.
Oct 21	Monthly distribution	Neutral	+0.5%	Distribution announcement based on August 2025 production and higher expenses.

Pattern Detected

Monthly distribution announcements have often been followed by modestly negative or mixed next-day moves, even when operating details were stable.

Recent Company History

Over the last five months, PermRock Royalty Trust has consistently issued monthly cash distribution announcements tied to prior-month production, with distributions ranging from about $199K to $384K. Underlying oil volumes and prices have generally trended lower, alongside reductions in direct operating expenses and fluctuating capital spending. Price reactions to these routine updates have mostly been small, with a mix of slight declines and modest gains. Today’s much smaller $36,445.91 distribution fits within this ongoing pattern of variability in payout levels and operating metrics.

Market Pulse Summary

This announcement details a much smaller monthly cash distribution of $36,445.91 (or $0.002995 per u...

Analysis

This announcement details a much smaller monthly cash distribution of $36,445.91 (or $0.002995 per unit), based on January 2026 production. Oil and gas receipts, operating expenses of $0.34 million, and modest capital spending of $4,987 frame the cash available for payout. Investors following the Trust’s pattern of monthly distributions may focus on how lower oil volumes, stable taxes, and the application of $84,933 in reserved funds influence future distributions.

Key Terms

net profits interest, wellhead prices, severance and ad valorem taxes, capital expenditures, +2 more

6 terms

net profits interest financial

"underlying oil and natural gas sales volumes ... 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

"average received wellhead prices attributable to the current and prior month"

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.

severance and ad valorem taxes regulatory

"Severance and ad valorem taxes included in this month's net profits calculation"

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

"Total capital expenditures totaled $4,987 for the current month."

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.

workover expenses technical

"Total direct operating expenses, including marketing, lease operating expenses, and workover expenses"

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.

completion costs technical

"capital expenses were related to tangible and intangible completion costs."

Completion costs are the remaining expenses required to finish a specific project, product development, or operational phase so it can start generating revenue or meet regulatory milestones. For investors this matters because underestimating those costs can reduce future profits or delay returns, much like a house that needs extra funds to finish construction before it can be sold or rented.

AI-generated analysis. Not financial advice.

DALLAS, March 20, 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 March 31, 2026, and payable on April 14, 2026, in the amount of $36,445.91 ($0.002995 per Trust Unit), based principally upon production during the month of January 2026.

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	12,110		391		34,753		1,121		$57.04		$0.79
Prior Month	16,605		536		12,459		402		$56.95		$2.68

Oil cash receipts for the properties underlying the Trust totaled $0.69 million for the current month, a decrease of $0.26 million from the prior month's distribution period. T2S Permian Acquisition II LLC ("T2S") informed the Trust that this decrease was primarily due to a decrease in oil sales volumes that was only partially offset by the increase in oil prices.

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 prices that was only partially offset by the increase in natural gas sales volumes.

Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.34 million, a decrease of $0.13 million from the prior month's distribution period. T2S informed the Trust that this decrease was primarily due to a decrease in lease operating expenses.

Severance and ad valorem taxes included in this month's net profits calculation were $0.08 million, essentially unchanged from the prior month's distribution period. 

Total capital expenditures totaled $4,987 for the current month. T2S reported these minimal capital expenses were related to tangible and intangible completion costs.

T2S informed the Trust that this month's net profits calculation included the application of $84,933 net to the Trust of funds previously reserved by T2S to cover future capital obligations and expenses.

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-302719303.html

SOURCE PermRock Royalty Trust

FAQ

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

The Trust declared a monthly distribution of $36,445.91 ($0.002995 per unit), payable on April 14, 2026. According to the company, the payment applies to holders of record on March 31, 2026 and is based on January 2026 production.

How did PermRock (PRT) oil and gas volumes for January 2026 compare to the prior month?

January oil volumes fell to 12,110 Bbls (391 Bbls/D) from 16,605 Bbls; gas volumes rose to 34,753 Mcf (1,121 Mcf/D). According to the company, lower oil volumes were the main driver of reduced oil receipts.

What were PermRock's (PRT) oil and natural gas realized prices in January 2026?

PermRock recorded average wellhead prices of $57.04 per Bbl for oil and $0.79 per Mcf for natural gas in January 2026. According to the company, higher oil price partly offset lower oil volumes.

Did PermRock (PRT) report any changes in operating expenses for the January 2026 period?

Total direct operating expenses were $0.34M, a decrease of $0.13M versus the prior period. According to the company, the decline was primarily due to lower lease operating expenses.

How much capital spending did PermRock (PRT) record for the current month and what was it for?

PermRock reported total capital expenditures of $4,987 for the month, described by the company as minimal and related to tangible and intangible completion costs.

Why did PermRock's (PRT) net profits calculation include reserved funds and how much was applied?

The net profits calculation included $84,933 of previously reserved funds net to the Trust. According to the company, T2S applied these reserves to cover future capital obligations and expenses in the period.