Permianville Royalty Trust - PVL STOCK NEWS

Permianville Royalty Trust (PVL) released its Annual Report on Form 10-K for 2023, filed with the SEC on March 22, 2024. The report is accessible on the Trust's website and the SEC's site. Unitholders can request a printed copy for free. Contact details provided.

Permianville Royalty Trust (PVL) announces no distribution for April 2024 due to a $1.4 million shortfall in net profits. The cumulative shortfall now totals approximately $2.6 million. The Trust's net profits interest calculation includes reported oil and gas production data for December 2023 and November 2023 respectively. The Trust incurred elevated capital expenditures this month, leading to expenses exceeding cash receipts. Recorded oil and gas sales volumes, wellhead prices, and operating expenses are detailed in the announcement.

Permianville Royalty Trust (PVL) announces no monthly distribution for March 2024 due to $1.25 million shortfall from capital expenditures exceeding cash receipts. Oil and gas sales volumes, prices, and cash receipts declined month-over-month, with total accrued operating expenses at $2.8 million and capital expenditures increasing to $2.0 million.

Permianville Royalty Trust (PVL) announced the net profits interest calculation for January 2024, revealing a repayment in full of the remaining outstanding net profits shortfall of approximately $0.9 million. This led to no cash available for distribution after the payment of Trust expenses and withholding of Trust reserves, resulting in no monthly distribution for February 2024. Excluding the net profits interest shortfall, income from the net profits interest in the current month would have been approximately $1.0 million. The reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations were also disclosed. Recorded oil cash receipts from the oil and gas properties underlying the Trust totaled $4.2 million for the current month, showing an increase driven by the receipt of revenues from new Permian wells turned to sales. Total accrued operating expenses for the period increased month-over-month, while capital expenditures remained consistent with the prior period. The cumulative shortfall in net profits has now been repaid, and the Sponsor anticipates positive net profits from the Underlying Properties next month.

Permianville Royalty Trust (NYSE: PVL) announced the net profits interest calculation for December 2023, revealing a decline in cumulative outstanding net profits shortfall and no distribution for January 2024. The reported oil and natural gas production, wellhead prices, and financial data were also disclosed.

Permianville Royalty Trust (PVL) announced the net profits interest calculation for November 2023, revealing a shortfall of $1.2 million, leading to no monthly distribution in December 2023. The recorded oil and natural gas sales volumes and average received wellhead prices were also disclosed, with a significant increase in capital expenditures. The Trust anticipates a return to positive net profits by early 2024.

Permianville Royalty Trust (NYSE: PVL) announces a special cash distribution of $0.077250 per unit to unitholders. The distribution represents the majority of the net proceeds from the divestiture of certain oil and natural gas properties in the Permian Basin. The total net proceeds from the sale of the Divestiture Properties amount to $6,712,000, with $5,098,281 allocated to the Trust's 80% interest. The remaining cash available for distribution is $2,549,171, resulting in a special cash distribution per unit of $0.077250.

Permianville Royalty Trust announces cash distribution and provides production and sales volume updates

Permianville Royalty Trust announces special cash distribution of $0.069670 per unit from divestiture of oil and gas properties in the Permian Basin. Net proceeds allocable to Trust unitholders is $5,098,281. Transaction expenses totaled $627,149. 50% of net proceeds to be temporarily retained for post-closing adjustments. Escrow amount of $250,000 held for indemnification obligations.