Permian Basin Royalty Trust (PBT) News

Permian Basin Royalty Trust Announces August Cash Distribution (8/20/24)

DALLAS, Aug. 20, 2024 /PRNewswire/ -- Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian" or the "Trust") today declared a cash distribution to the holders of its units of beneficial interest of $0.051902 per unit, payable on September 16, 2024, to unit holders of record on August 30, 2024. The distribution does not include proceeds from the Waddell Ranch properties for the current month but does include the proceeds from July in the amount of $1,508,873. More information regarding the Waddell Ranch properties is described below.

This month's distribution decreased from the previous month due mainly to the July proceeds being less than the June proceeds from Waddell Ranch properties and, for the Texas Royalty Properties, lower gas volumes and oil prices, slightly offset by higher oil volumes and gas prices for the month reported.

WADDELL RANCH

Notwithstanding requests from the Trustee to Blackbeard Operating, LLC ("Blackbeard"), the operator of the Waddell Ranch properties, and the fact that prior to May 2024, Blackbeard has provided this information on a monthly basis since Argent Trust Company has become Trustee of the Trust, Blackbeard has refused to provide the Trustee information necessary to calculate the net profits interest ("NPI") proceeds for July 2024 as of the announcement date for this month's distribution. As a result of Blackbeard's failure to provide this information by the NYSE notification date for the distribution, in accordance with the Trust indenture, if NPI proceeds are received from the Waddell Ranch properties on or prior to the record date, they will be included in the August distribution, rather than the July distribution. As noted above, proceeds of $1,508,873 received by the Trustee in July 2024 after the announcement date for the July distribution will be included in the August distribution. The Trustee has continued to request information from Blackbeard, including production and pricing information, however, there can be no assurances that additional information will be forthcoming or on what time frame.

TEXAS ROYALTY PROPERTIES

Production for the underlying Texas Royalty Properties was 16,295 barrels of oil and 5,722 Mcf of gas. The production for the Trust's allocated portion of the Texas Royalty Properties was 14,513 barrels of oil and 5,101 Mcf of gas. The average price for oil was $77.62 per bbl and for gas was $11.27, which includes significant NGL pricing, per Mcf. This would mainly reflect production and pricing in May for oil and April for gas. These allocated volumes were impacted by the pricing of both oil and gas. This production and pricing for the underlying properties resulted in revenues for the Texas Royalty Properties of $1,329,226. Deducted from these revenues were taxes and expenses of $141,804, resulting in a Net Profit of $1,187,422 for August. With the Trust's Net Profit Interest (NPI) of 95% of the Underlying Properties, this would result in a net contribution by the Texas Royalty Properties of $1,128,051 to this month's distribution.

General and Administrative Expenses deducted for the month, net of interest earned were $217,800 resulting in a distribution of $2,419,132 to 46,608,796 units outstanding, or $0.051902 per unit.

The worldwide market conditions continue to affect the pricing for domestic production. It is difficult to predict what effect these conditions will have on future distributions.

Trust Litigation. On May 8, 2024, the Trustee announced that it had initiated a lawsuit by filing a petition in the District Court of Tarrant County, Texas against Blackbeard Operating, LLC ("Blackbeard"), the operator of properties in the Waddell Ranch, in Crane County, Texas, in which the Trust holds a 75% net overriding royalty. On June 10, 2024, Blackbeard filed its original answer and counterclaim to the lawsuit. The parties are currently engaged in discovery, and the District Court of Tarrant County has set a preliminary trial date of April 21, 2025, 8:30 a.m., Central Time.

Pursuant to the petition, the Trustee seeks to recover more than $15 million in damages to the Trust resulting from overhead costs and other expenses the Trustee alleges were impermissibly deducted from royalty payments to the Trust. The Trustee routinely engages in audits of the revenues and expenses with respect to the Trust's royalty payments. In connection with its audit for the period from 2020-2022 the Trustee identified exceptions to certain expenses deducted from the Trust's royalty payments, including among other things, incorrect overhead charges, application of overhead charges to non-producing wells, duplicate charges for services, materials and utilities as well as other expenses the Trustee alleges are ineligible charges. Attempts to resolve the disputed charges outside of court have been unsuccessful to date. Included in Blackbeard's original answer and counterclaim are requests for declaratory judgment by the court that it may deduct certain disputed overhead charges from Trust royalty payments and that it may limit information it provides to the Trust to quarterly statements of the net proceeds computation and inspection of books and record during normal business hours.

The 2023 Annual Report with Form 10-K, which includes the December 31, 2023, Reserve Summary, is posted on Permian's website. Permian's cash distribution history, current and prior year financial reports, tax information booklets, and a link to filings made with the Securities and Exchange Commission, all can be found on Permian's website at http://www.pbt-permian.com/. Additionally, printed reports can be requested and are mailed free of charge.

Contact: Jana Egeler, Vice President, Argent Trust Company, Trustee, Toll Free – 1.855.588.7839

https://www.prnewswire.com/news-releases/permian-basin-royalty-trust-announces-august-cash-distribution-302225402.html

$PBT starting to go...

https://tylerpaper.com/news/texas/permian-basin-royalty-trust-announces-october-cash-distribution/article_7cd14c33-28ee-5b96-b8a1-129d52847257.html

SHORTS getting SCARED!!!! Cathy Wood knows something !!!!!!

good div

I would appreciate someone from this board answer several questions. I ask this since my oil trust investment does NOT have an IH entry.

I've been in Biotech for the last 5 years. Actually done quite well. However, my major biotech investment started to go SOUTH several months ago. Therefore, I took my profits, sold all the Biotech & invested in PRT - PERMROCK ROYALTY TRUST. This was a random choice but I like the fact that it came out in May '18 at $17, I paid an average of - 12.15 & has a current 11%+ monthly dividend. (I'm getting older & need great income )

Questions -

1. After I bought PRT, friends told me to look at ROYT. It came out at 20 (when?) & is now around 2. Guess this is possible with any stock, but how do you compare your PBT to a ROYT?

2. Here's my PRT - Operational Update as of October 2018:
http://s22.q4cdn.com/510766723/files/doc_downloads/PermRock-Royalty-Trust-10-09-2018-Operational-Update_vF.pdf Opinions if this is a good or bad investment?

3. Are you concerned that there are NO unit holders meetings, NO unit holders inputs, etc?

4. Have any of these royalty trusts been bought out by a major oil company, etc.?

T.I.A.

Anyone tell me the Life expectancy of PBT's wells in Permian Basin? Thanks

Powell Loyd has filed a new 13G, reporting 2.67% ownership in $PBT - https://fintel.io/so/us/pbt

Oil And Gas Trust Value Rankings, Q4 2014 (3/23/15)

http://seekingalpha.com/article/3019846-oil-and-gas-trust-value-rankings-q4-2014

Thanks- wish we could forecast when the monthly cap ex would come back down to the $2M range from the $3M+range, where we've been the last couple months. This has really effected the divi - although the new wells as a result of the drilling seem to be coming paying off. Thanks for the reply

I would think that the Board of Directors would project an annual expense & prorate that monthly or make adjustments when required to offset any large outlay.

Anyone know how to forecast the Capital Expenditures? November and December's Cap Ex has been almost more than double the average monthly Cap Ex for the rest of 2013. If this can return to the $2M range, the divi should head back up to $0.10/month. Production has strongly returned in December compared to November and is now at the averages for the rest of 2013. Thanks in advance-

Just got in under $14.00, looking for $20.00.

~ Monday! $PBT ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $PBT ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=PBT&p=D&b=3&g=0&id=p88783918276&a=237480049




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~ Google Finance: http://www.google.com/finance?q=PBT
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http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

I think it is just the case that PBT has never been a "High FLyer". Its price has been a function of the returns from the production royalties, which dictates the divvie yield.

When oil begins to spiral higher, you should see PBT move up, but delayed due to the nature of the royalty contracts in place.

Hockmir, nor do I (believe charts drive the price of a stock. However, when read properly it seems charts can give a picture of investor sentiment. In PBT's case it appears investors are waiting for something? and I thought you might be able to shed some light on any (possible) approaching positive Company events/news.
Thanks for responding to my note and I wish you continued success in your investment.

I'm not a big believer in stocks doing things just because some chart configuration ordains it. In this case, the things that will drive PBT upward are the divvies in a market where people are looking for safe returns, the general upward motion in commodities, and its historic performance.

Hockmir, PBT's pps has nearly completed a perfect 4 month symmetrical triangle. Usually this type triangle breaks out in the direction when it entered the triangle. In BPT's case it entered this triangle as part of a long term pps increase. Often the breakout is as much as the largest 'leg' within the triangle. In this case the breakout might be nearly $ 5.00.
I'm curious about what fundamental event/s could create a $ 5. price increase.

But since there are none of those around, I thought I would open the discussion up to interested shareholders and potential shareholders.

Any opinions as to whether PBT or HGT is the best US Oil Royalty Trust to hold?

Permian Basin Royalty Trust Announces August Cash Distribution

Press Release Source: Permian Basin Royalty Trust On Friday August 20, 2010, 11:30 am EDT

DALLAS, Aug. 20 /PRNewswire-FirstCall/ -- Permian Basin Royalty Trust (NYSE:PBT - News) ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $.111909 per unit, payable on September 15, 2010, to unit holders of record on August 31, 2010. Permian's cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.pbt-permianbasintrust.com/.

This month's distribution decreased slightly from the previous month due primarily to slightly lower oil prices and lower production of both oil and gas. This would primarily reflect production for the month of June. The worldwide market conditions continue to affect the pricing for domestic production. It is difficult to predict what effect these conditions will have on future distributions.

Production for Waddell Ranch and the Texas Royalty Properties combined for oil and gas respectively was 55,890 bbls and 250,232 Mcf. The average price for oil was $68.08 per bbl and for gas was $6.57 per Mcf. Capital expenditures were approximately $70,000. The numbers provided reflect what was net to the Trust.

Remember that the Canroys ,like PGH and PWE face a change in the Canadian Tax laws at the end of the year, losing them their generous tax loophole. I have backed my holdings out of the Canroys until after New Years to get past the possible price fluctuations likely to come with the change in their cash positions for payouts resulting from the tax law changes.

PBT is an American entity and does not face that particular gyration. It might be that money seeking refuge from the Canroy tax law changes seeks out US corps like PBT.

Besides, the current payout yield is pretty nice, given the current interest and dividend levels out there.

Been playing this one a long time. It has been very, very good to me.