Welcome to our dedicated page for Permian Basin Royalty Trust news (Ticker: PBT), a resource for investors and traders seeking the latest updates and insights on Permian Basin Royalty Trust stock.
Permian Basin Royalty Trust (NYSE: PBT) is an express trust that holds mineral and royalty interests in mature producing oil fields across Texas. The Trust's primary properties include Waddell Ranch Properties, in which it holds a 75% net overriding royalty interest, as well as other substantial interests in properties such as Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, and several others.
The Trust generates the majority of its revenues from royalties received through these properties. Recent financial updates indicate that the Trust declared a cash distribution of $0.020052 per unit in May 2024, reflecting lower volumes of oil and gas production offset by higher prices.
Additionally, the Trust has initiated a lawsuit against Blackbeard Operating, LLC, the operator of the Waddell Ranch properties, seeking to recover over $15 million in allegedly impermissible deductions from royalty payments. This legal action highlights the Trust's active engagement in safeguarding its financial interests.
The Trust’s financial reports, including the 2023 Annual Report and current distribution details, are available on the Trust’s official website. The Trust continues to monitor market conditions which impact domestic production pricing and future distributions.
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Permian Basin Royalty Trust (NYSE: PBT) announced a cash distribution of $0.088214 per unit, payable on May 14, 2024, to unit holders of record on April 30, 2024. The distribution increased due to a decrease in capital costs and higher oil prices. Oil production for Waddell Ranch Properties saw an increase in volume with an average price of $75.09 per bbl. Gas production also increased but with a lower average price. Texas Royalty Properties experienced higher oil and gas volumes with increased oil prices. The Trust's Net Profit Interest contributed positively to the distribution. The Trust addressed ongoing market conditions affecting pricing and provided tax information for unit holders.
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Argent Trust Company, as Trustee of Permian Basin Royalty Trust (PBT), corrected errors in its cash distribution announcement, reducing the distribution to $0.041340 per unit due to lower gas production and higher costs. The correction also includes accurate gas volume reporting and pricing adjustments for both oil and gas.
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Permian Basin Royalty Trust (PBT) declares a cash distribution of $0.041340 per unit for April 12, 2024, due to increased oil production, higher oil and gas pricing, and reduced capital costs. The Trust's revenue rose slightly from the previous month, with positive net profit interests from Waddell Ranch and Texas Royalty Properties contributing to the distribution.
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Permian Basin Royalty Trust (PBT) announced a cash distribution of $0.045460 per unit, reflecting an increase due to higher production and oil/gas prices. The Trust reported positive revenue from the Waddell Ranch Properties, with net profit interest of $1,591,057 for December. However, there are concerns about sustaining distributions if oil and gas prices decline.
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Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), declared a cash distribution of $0.031031 per unit, payable on February 14, 2024. The distribution decreased from the previous month due to a slight decrease in production and decreases in pricing of oil and gas. Net revenue for the underlying properties of the Waddell Ranch was $17,899,375 for November, with a positive Net Profit Interest (NPI) of $411,277. However, if current oil and gas pricing continues or declines, the Waddell Ranch Properties may or may not be able to continue to contribute to the distribution in the foreseeable future, after covering the ongoing CAPEX budget.
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Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (PBT), declared a cash distribution of $0.106232 per unit, payable on January 16, 2023, to unit holders of record on December 29, 2023. The distribution decreased due to increased production costs on the Waddell Ranch Properties, offset by higher oil and gas volumes. Waddell Ranch Properties NPI contributed to this month's distribution.
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Permian Basin Royalty Trust (NYSE: PBT) declared a cash distribution of $0.157171 per unit, payable on December 14, 2023, to unit holders of record on November 30, 2023. The increase in distribution was due to higher oil and gas pricing and a decrease in CAPEX, with the NPI distribution from Blackbeard Operating on the Waddell Ranch Properties for September contributing positively. Oil volumes were 241,017 (gross) and priced at approximately $88.56 per bbl, while gas volumes were 804,845 Mcf (gross) and priced at approximately $3.86 per Mcf. Net revenue for the Waddell ranch properties was $21,256,517 for September, with Lease Operating Expenses at $4,736,356 and CAPEX at $8,405,877. The trust's proceeds of 75% contributed $6,085,713 (net) to this month's distribution. The Waddell Ranch Properties NPI contributed to this month's distribution.
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Permian Basin Royalty Trust declares cash distribution for November
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Permian Basin Royalty Trust declares cash distribution of $0.022414 per unit, slightly decreased due to lower production but increased pricing of oil and gas. Waddell Ranch Properties did not contribute to distribution. Texas Royalty Properties contributed $1,077,970 to distribution.
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Permian Basin Royalty Trust declares cash distribution of $0.024535 per unit, slightly higher than previous month. Waddell Ranch properties did not contribute to distribution due to budget constraints. Texas Royalty Properties contributed $1,208,703 to distribution. Market conditions may affect future distributions.
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FAQ
What is the current stock price of Permian Basin Royalty Trust (PBT)?
The current stock price of Permian Basin Royalty Trust (PBT) is $11.17 as of December 20, 2024.
What is the market cap of Permian Basin Royalty Trust (PBT)?
The market cap of Permian Basin Royalty Trust (PBT) is approximately 517.0M.
What does Permian Basin Royalty Trust do?
Permian Basin Royalty Trust holds mineral and royalty interests in mature oil fields across Texas, earning the majority of its revenues from royalties.
What are the primary properties of Permian Basin Royalty Trust?
Key properties include Waddell Ranch, Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, and others.
What recent legal action has the Trust taken?
The Trust has filed a lawsuit against Blackbeard Operating, LLC to recover over $15 million in alleged unauthorized deductions from royalty payments.
What was the latest cash distribution announced by the Trust?
In May 2024, the Trust declared a distribution of $0.020052 per unit, payable on June 14, 2024.
How does the Trust generate revenue?
The Trust earns revenue primarily from royalties on oil and gas production from its various properties.
Where can I find financial reports of the Trust?
Financial reports, including annual reports and distribution details, are available on the Trust’s official website.
Who is the Trustee of Permian Basin Royalty Trust?
Argent Trust Company serves as the Trustee.
What impact do market conditions have on the Trust?
Market conditions affect pricing for domestic oil and gas production, influencing the Trust's royalty revenues and distributions.
What is the Trust’s approach to auditing its finances?
The Trust routinely audits its royalty payments to identify and dispute any improper expenses deducted by operators.
How can I get more information about the Trust?
Additional information, including contact details and financial reports, can be found on the Trust's website at http://www.pbt-permian.com/.
Permian Basin Royalty Trust
NYSE:PBT
PBT Rankings
PBT Stock Data
517.03M
41.95M
10%
28.14%
0.42%
Oil & Gas Midstream
Oil Royalty Traders
United States of America
DALLAS