Permian Basin 8-K Filings

Permian Basin Royalty Trust reported that unitholder SoftVest, L.P. and affiliates have signed a definitive Combination Agreement with Blackbeard Holdings, LLC and affiliates. The parties propose to combine the Trust’s assets with certain Blackbeard oil and gas mineral interests and land operations to form a new publicly traded corporation, PBT Land and Minerals, Inc. (“New PBT”). Completion of any transaction would require approval at a meeting of Trust unitholders.

SoftVest and other unitholders holding in excess of 15% of the Trust units have asked the Trustee to call a special meeting to consider the proposal. New PBT intends to file registration statements on Form S-4 and Form S-1, including a proxy statement/prospectus and a rights offering for New PBT shares. The Trust and its Trustee are not parties to the Combination Agreement, are not soliciting proxies, and are not making any voting recommendation.

Permian Basin Royalty Trust declared a July cash distribution of $0.043566 per unit, or $2,030,599.85 across 46,608,796 units, payable on August 14, 2026 to unitholders of record on July 31, 2026. The distribution increased from the prior month, largely due to a $1,125,000 settlement payment from Blackbeard Operating LLC and higher oil prices from the Texas Royalty Properties.

The Waddell Ranch properties contributed nothing to this distribution because production costs exceeded gross proceeds for June, leaving them in a continuing excess cost position. Future Waddell Ranch proceeds, including any accrued interest, must first recover these excess costs before any amounts flow to the Trust.

For the Texas Royalty Properties, underlying production was 15,307 barrels of oil and 6,545 Mcf of gas, with 13,842 barrels and 5,923 Mcf net to the Trust at average prices of $99.90 per bbl for oil and $8.61 per Mcf for gas. This generated revenues of $1,585,528, taxes and expenses of $137,243, and net profit of $1,448,285, of which the Trust’s 95% net profits interest provided $1,375,871. General and administrative expenses net of interest were $470,271, including a $400,000 increase to the expense reserve.

The Trust also relays information from a SoftVest Schedule 13D about a preliminary, non-binding term sheet for a potential business combination involving a new public company owning the Trust’s assets and certain Blackbeard Holdings assets. Any such transaction would likely require approval by a majority in interest of unitholders at a meeting where a quorum is present.

Permian Basin Royalty Trust declared a June cash distribution of $0.024673 per unit, payable on July 15, 2026 to unitholders of record on June 30, 2026. Total cash distributed is $1,149,997 across 46,608,796 units.

The payout comes entirely from Texas Royalty Properties, as production costs continued to exceed gross proceeds at the Waddell Ranch properties, so no Waddell Ranch proceeds were included. Texas Royalty Properties generated revenues of $1,503,687 on 14,577 barrels of oil and 6,972 Mcf of gas net to the Trust, with average prices of $88.42 per barrel of oil and $9.50 per Mcf of gas.

The press release also highlights a preliminary, non-binding SoftVest and Blackbeard Holdings term sheet for a potential business combination involving the Trust’s assets and certain Blackbeard assets through a new corporation, which would likely require approval by a majority in interest of Trust unitholders constituting a quorum if pursued.

Permian Basin Royalty Trust is disclosing that its trustee has received a Schedule 13D from unitholder SoftVest and others describing a proposed business combination involving the Trust and certain assets of Blackbeard Holdings.

The Schedule 13D says SoftVest and Blackbeard agreed to a preliminary, non-binding term sheet that contemplates forming a new corporation, New PubCo, which would own all Trust assets and operations plus US Land Guild, LLC, holding about 66,500 acres of surface estate and a 15% royalty interest. The term sheet also provides for Blackbeard or affiliates to receive certain working interests after conversion of existing net profits interests into a cost-free 15% royalty interest. The Trust and its trustee state they were not involved in negotiating these terms and are sharing the information for unitholders’ benefit. Any transaction would likely need approval from a majority in interest of unitholders constituting a quorum under recently court-approved Trust Indenture modifications, and may later involve a Form S-4 registration statement and proxy process led by SoftVest, New PubCo or other unitholders.

Permian Basin Royalty Trust declared a May cash distribution of $05 per unit, payable on June 12, 2026 to unitholders of record on May 29, 2026. The payout comes solely from Texas Royalty Properties because Waddell Ranch remained in an excess cost position in April, with production costs exceeding gross proceeds so no net profits interest proceeds were available for this distribution.

Texas Royalty Properties generated revenues of $1,187,796 from 15,079 barrels of oil and 8,081 Mcf of gas at average prices of $73.83 per barrel and $9.23 per Mcf, resulting in net profit of $1,050,825 and a net contribution of $998,283. After $49,516 of general and administrative expenses, the Trust will distribute $948,767 across 46,608,796 units. The filing also notes a court-approved SoftVest petition that lowers the unitholder approval threshold for amending the Trust Indenture from 75% of outstanding units to a majority in interest at a quorum meeting.

Permian Basin Royalty Trust updated its trust indenture after a Texas court approved governance changes requested by unitholder SoftVest, L.P. The court order eliminated the prior requirement that certain amendments receive approval from 75% of outstanding units. The revised Article X now allows amendments to any indenture provision by a vote of unitholders under Article VIII, meaning a majority in interest of unitholders can approve changes when a quorum is present. Argent Trust Company, as trustee, executed Amendment No. 2 to the Amended and Restated Trust Indenture to implement these modifications, and the Trust issued a press release describing the hearing results.

Permian Basin Royalty Trust reported that the court hearing related to a unitholder’s petition to modify the Trust’s Indenture, scheduled for May 8, 2026 in the 96th District Court of Tarrant County, has been moved to 9:30 a.m. Central Time from 10:30 a.m.

The petition by unitholder SoftVest, L.P. seeks to amend Section 8.03 of the Indenture to remove the current requirement that certain amendments be approved by 75% of outstanding units. It also seeks to delete Section 10.01, replacing Article X with language allowing amendments by a majority in interest of unitholders constituting a quorum under Article VIII.

Permian Basin Royalty Trust declared an April cash distribution of $0.038014 per unit, payable on May 14, 2026 to unitholders of record on April 30, 2026. The total distribution is $1,771,797 across 46,608,796 units.

The payout comes entirely from Texas Royalty Properties because Waddell Ranch remains in an excess cost position, with production costs exceeding gross proceeds for March, so no Waddell Ranch proceeds were included. Texas Royalty production allocated to the Trust was 12,437 barrels of oil and 9,220 Mcf of gas, generating $915,038 in revenue and $789,049 in net profit, of which $749,597 contributed to the distribution.

The increase versus the prior month mainly reflects a $1,125,000 settlement payment from Blackbeard Operating LLC, higher Texas Royalty gas volumes, and higher oil and gas pricing, partially offset by lower oil volumes. The Trust also highlights a unitholder mailing from SoftVest, L.P. describing a court petition to modify the Trust indenture’s amendment and voting provisions, with a bench trial currently scheduled for May 8, 2026.

Permian Basin Royalty Trust declared a March cash distribution of $0.010662 per unit, payable on April 14, 2026, to unitholders of record on March 31, 2026. Total cash distributed is $496,950 across 46,608,796 units.

The payout comes solely from the Texas Royalty Properties, as the Waddell Ranch properties remained in an excess cost position for February, with production costs exceeding gross proceeds, so no Waddell proceeds were included. For the underlying Texas Royalty Properties, production was 15,009 barrels of oil and 9,793 Mcf of gas, with the Trust’s allocated volumes of 13,047 barrels of oil and 8,518 Mcf of gas. Average realized prices were $56.56 per barrel of oil and $6.02 per Mcf of gas, generating $907,884 of revenue and $783,853 of net profit, of which $744,660 flowed to the Trust after applying its 95% net profits interest. After $247,710 of general and administrative expenses, the remainder funded the distribution.

The press release also notes a unitholder mailing from SoftVest, L.P., which has filed a petition in a Texas district court seeking to modify the Trust indenture to lower certain amendment approval thresholds from 75% of outstanding units to a majority of units represented at a quorumed meeting.

Permian Basin Royalty Trust declared a February cash distribution of $0.014221 per unit, payable on March 13, 2026 to unitholders of record on February 27, 2026. Total cash distributed is $662,862 across 46,608,796 units.

The payout comes solely from the Texas Royalty Properties because January Production Costs on the Waddell Ranch properties exceeded Gross Proceeds, keeping those properties in an excess cost position. For the Texas Royalty Properties, underlying production was 15,292 barrels of oil and 9,841 Mcf of gas, with the Trust’s share at 13,325 barrels and 8,573 Mcf. Average realized prices were $56.78 per barrel of oil and $5.85 per Mcf of gas, generating revenues of $925,795 and Net Profit of $806,849, of which $766,506 flowed to the Trust after applying its 95% net profits interest.

The Trust also reports that SoftVest, L.P., a unitholder, mailed materials to investors regarding a petition in a Texas district court to modify the Trust Indenture’s amendment provisions, including changing certain supermajority voting requirements to majority-based thresholds, with a bench trial currently scheduled for May 8, 2026.

Permian Basin Royalty Trust reports that large unitholder SoftVest, L.P. has mailed court documents to all unitholders about a petition to modify the Trust’s Indenture. The materials describe a planned bench trial on May 8, 2026 in the 96th District Court of Tarrant County, Texas.

SoftVest’s petition asks the court to remove the current requirement that certain amendments receive approval from 75% of all outstanding units and instead allow amendments by a majority in interest of unitholders present at a meeting where a quorum exists. The Trust notes the mailing is required by the court, does not seek relief against individual unitholders, and does not require them to take any action.

Permian Basin Royalty Trust filed a current report stating that it has issued a press release announcing its monthly cash distribution to unitholders. The distribution will be paid to unitholders of record on January 30, 2026, as described in the press release.

The press release detailing the monthly cash distribution is included as Exhibit 99.1 to the report and is incorporated by reference. The trust notes that this information is being furnished under the results of operations and financial condition disclosure item and is not considered filed for liability purposes under the securities laws.

Permian Basin Royalty Trust reports that unit holder SoftVest, L.P. has filed an Original Petition for Modification of Trust in a Texas district court. SoftVest is asking the court to change the Trust’s Indenture so that amendments no longer require approval by 75% of the outstanding units. Instead, SoftVest seeks to allow amendments by a majority in interest of unitholders constituting a quorum at a meeting where a quorum is present, and to replace existing restrictions on certain prohibited amendments with this new majority-based standard. The Trust notes that future outcomes depend on actions by SoftVest, other unit holders, and the courts, and includes standard cautionary language about forward‑looking statements.

Permian Basin Royalty Trust reported that it issued a press release on December 19, 2025 announcing its monthly cash distribution. The distribution will be paid to unitholders of record on December 31, 2025. The trust furnished this update under the results of operations and financial condition disclosure rules, and attached the full press release as an exhibit for more detail on the payment.

Permian Basin Royalty Trust held a special meeting where unitholders overwhelmingly backed a non-binding proposal related to how the trust indenture can be amended. Of 46,608,796 units outstanding, 27,938,688 were represented in person or by proxy, establishing a quorum.

The Indenture Reformation Proposal received 27,525,758 votes for, 245,868 against and 167,062 abstentions, and the related adjournment proposal also passed. Although the vote is advisory, SoftVest Advisors has informed the trustee that it intends to seek judicial reformation or modification of the trust indenture consistent with this proposal.

Permian Basin Royalty Trust filed a Form 8-K to report that it issued a press release on November 17, 2025 announcing its monthly cash distribution. The distribution will be paid to unitholders of record on November 28, 2025. The press release is included as Exhibit 99.1 and is incorporated by reference into this report.

Permian Basin Royalty Trust furnished an 8-K under Item 2.02 announcing its monthly cash distribution to unitholders of record on October 31, 2025. The details were provided in a press release attached as Exhibit 99.1 and dated October 21, 2025.

The information was furnished, not filed, under the Exchange Act, meaning it is not subject to Section 18 liabilities and is not incorporated by reference into Securities Act filings. The Trust’s units of beneficial interest trade on the NYSE under the symbol PBT, with Argent Trust Company serving as trustee.

Permian Basin Royalty Trust announced that the Trustee received a request from SoftVest Advisors and other holders owning more than 15% of outstanding units to call a special meeting of unitholders. The Trustee intends to call the meeting for December 16, 2025, with a record date of November 11, 2025.

The requested vote would support SoftVest or another appropriate party taking actions to seek judicial reformation of the Trust Indenture so that amendments could be approved by a majority of Units cast at a special meeting where a quorum is present. The Trustee stated it is not soliciting proxies; SoftVest and/or other holders are expected to file a proxy statement. Further details will be provided in the Trustee’s notice and in SoftVest’s proxy materials filed with the SEC.

Permian Basin Royalty Trust filed a current report describing a new monthly cash distribution for its unitholders. The trust states that it issued a press release on September 19, 2025 announcing this distribution for unitholders of record on September 30, 2025. The filing notes that the press release, attached as Exhibit 99.1, provides the detailed information about this payment.

The trust also clarifies that this information is being furnished under the results of operations and financial condition disclosure item and is not considered "filed" for purposes of certain liability provisions under securities laws. Argent Trust Company signs the report in its role as trustee for Permian Basin Royalty Trust.

Permian Basin Royalty Trust entered into a material settlement agreement with Blackbeard Operating, LLC on August 19, 2025 resolving litigation related to royalties from Waddell Ranch properties. Under the agreement, Blackbeard will pay the Trust $9,000,000, with $4,500,000 due within 30 days and four additional quarterly installments of $1,125,000 each during the 2026 calendar year.

The settlement also sets an agreed overhead rate, allows pass-through of certain third-party charges for salt water disposal, gathering and transportation, and permits technical labor charges using a defined allocation method against the net overriding royalty. The Trust agreed not to pursue future claims for lost volumes in cases of ordinary line loss, while gaining the option to conduct annual site audits at its expense and receiving enhanced reporting from Blackbeard.

Permian Basin Royalty Trust filed a current report to note that it has announced a regular monthly cash distribution for its unitholders. The distribution will be paid to unitholders of record on August 29, 2025, as stated in a press release dated August 19, 2025.

The trust attached this press release as Exhibit 99.1 and incorporated it by reference. The information about results of operations and financial condition is being furnished under Item 2.02 of the Exchange Act and is expressly stated as not being deemed filed for liability purposes under Section 18 or automatically incorporated into other securities filings.

Permian Basin Royalty Trust (NYSE: PBT) filed a Form 8-K dated July 21 2025 to report that it has issued a press release announcing its regular monthly cash distribution. The distribution will be paid to unitholders of record on July 31 2025. No dollar amount, ex-distribution date, or payment date is disclosed in the filing; those details are expected to be contained in Exhibit 99.1, which is referenced but not included in the text provided. The information was furnished under Item 2.02 (Results of Operations and Financial Condition) and is therefore not deemed “filed” for liability purposes.