PermRock Royalty Trust Declares Monthly Cash Distribution

Rhea-AI Summary

PermRock Royalty Trust (NYSE:PRT) has announced its monthly cash distribution of $371,192.79 ($0.030511 per Trust Unit) for May 2025, payable on June 13, 2025, to unitholders of record as of May 30, 2025. The distribution is based on March 2025 production. Oil production increased to 22,232 barrels (717 Bbls/D) from 21,413 barrels, while natural gas production decreased to 24,848 Mcf (802 Mcf/D) from 25,759 Mcf. Average oil prices decreased to $66.92 per barrel from $70.27, and natural gas prices fell to $3.19 per Mcf from $4.15. Total direct operating expenses decreased by $0.06 million to $0.60 million, and capital expenses reduced by $0.04 million to $0.01 million.

Positive

• Oil production volume increased by 819 barrels compared to prior month
• Operating expenses decreased by $0.06 million to $0.60 million
• Capital expenses reduced by $0.04 million to $0.01 million

Negative

• Monthly distribution decreased due to lower oil and gas prices
• Oil prices decreased by 4.8% to $66.92 per barrel
• Natural gas prices fell by 23.1% to $3.19 per Mcf
• Natural gas production decreased by 911 Mcf compared to prior month

Insights

Energy Finance Analyst

PermRock's May distribution reflects stable oil production despite price declines, maintaining trust operations with minimal capital expenses.

PermRock Royalty Trust's announced distribution of $371,192.79 ($0.030511 per unit) reflects the underlying performance of its oil and gas assets during March 2025. The trust's oil production showed modest improvement at 22,232 barrels (up 3.8% from February), while natural gas volumes declined slightly to 24,848 Mcf.

The more concerning trend is in commodity pricing. Oil prices dropped to $66.92 per barrel from $70.27, a 4.8% decline. Natural gas took an even sharper hit, falling 23.1% to $3.19 per Mcf. These price declines essentially neutralized the production gains, resulting in flat oil receipts and reduced gas receipts.

Operating efficiency appears solid, with direct expenses down $0.06 million to $0.60 million. Capital expenditures were minimal at $0.01 million, suggesting limited investment in new production capacity. Given that royalty trusts typically manage declining assets without significant new development, this minimal capex is expected but confirms the trust isn't actively developing new production sources.

The severance and ad valorem taxes of $0.14 million represent approximately 9% of the $1.57 million in total receipts, which is typical for this type of income-generating entity. What's particularly noteworthy is the trust's dependence on oil, which represents approximately 95% of cash receipts, making unitholder distributions highly sensitive to oil price movements rather than natural gas prices.

DALLAS, May 19, 2025 /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 May 30, 2025, and payable on June 13, 2025, in the amount of $371,192.79 ($0.030511 per Trust Unit), based principally upon production during the month of March 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	22,232	717	24,848	802	$66.92	$3.19
Prior Month	21,413	765	25,759	920	$70.27	$4.15

Oil cash receipts for the properties underlying the Trust totaled $1.49 million for the current month, a decrease of $0.01 million from the prior month's distribution period. This decrease was primarily due to a decrease in oil sales prices.

Natural gas cash receipts for the properties underlying the Trust totaled $0.08 million for the current month, a decrease of $0.03 million from the prior month's distribution period. This decrease was primarily due to a decrease in natural gas sales volumes and prices.

Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.60 million, a decrease of $0.06 million from the prior month's distribution period. Severance and ad valorem taxes included in this month's net profits calculation were $0.14 million. Capital expenses were $0.01 million, a decrease of $0.04 million from the prior month's distribution period.

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 Permian Acquisition II LLC ("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 Jana Egeler, Vice President, 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-302458099.html

SOURCE PermRock Royalty Trust

FAQ

What is PRT's monthly distribution amount for May 2025?

PermRock Royalty Trust (PRT) declared a monthly distribution of $371,192.79, or $0.030511 per Trust Unit, payable on June 13, 2025.

How did oil and gas prices change for PRT in the latest distribution period?

Oil prices decreased from $70.27 to $66.92 per barrel, and natural gas prices fell from $4.15 to $3.19 per Mcf.

What were PRT's production volumes for oil and natural gas in March 2025?

Oil production was 22,232 barrels (717 Bbls/D) and natural gas production was 24,848 Mcf (802 Mcf/D).

How much were PRT's operating and capital expenses in the current period?

Total direct operating expenses were $0.60 million, and capital expenses were $0.01 million.

When is the record date and payment date for PRT's May 2025 distribution?

The record date is May 30, 2025, and the payment date is June 13, 2025.