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.
On April 18, 2023, Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), announced a cash distribution of $0.026846 per unit, payable on May 12, 2023, to unitholders of record on April 28, 2023. This distribution reflects a slight increase due to higher oil and gas production in February. Notably, oil production was 206,970 bbl priced at $73.13 per bbl, and gas production was 685,484 Mcf at $1.81 per Mcf. The Waddell Ranch reported a negative net profit interest of $(2,159,705) for February, with ongoing capital expenditures affecting future contributions to the distribution. The Trust's estimated proved reserves totaled 11.6 million barrels of oil and 25.7 billion cubic feet of gas, valued at approximately $1,205,228,000, projecting a 15-year lifespan.
On March 21, 2023, Argent Trust Company announced a cash distribution of
On February 17, 2023, Permian Basin Royalty Trust (NYSE: PBT) declared a cash distribution of $0.041356 per unit, payable on March 14, 2023, to unit holders of record on February 28, 2023. This distribution marks an increase due to higher production at the Waddell Ranch, despite falling oil prices and rising gas prices. For December 2022, oil production was 204,289 bbl priced at $74.58, while gas production reached 788,523 Mcf priced at $3.67. The total gross revenue from Waddell Ranch for December was $17,412,861, contributing significantly to the distribution. The revised 2023 CAPEX budget is estimated at $122 million.
On January 20, 2023, Argent Trust Company, trustee of the Permian Basin Royalty Trust (NYSE: PBT), announced a cash distribution of
Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), announced a cash distribution of $0.037639 per unit, payable on January 17, 2023. This reflects a decrease due to lower gas prices and increased CAPEX at Waddell Ranch in October. Production data reveals oil volumes at 213,936 bbl with an average price of $85.44 per bbl, while gas volumes were 728,401 Mcf at $3.90 per Mcf. The total net revenue for Waddell Ranch was $19,994,621.
Simmons Bank, Trustee of Permian Basin Royalty Trust (PBT), announced a cash distribution of $0.080997 per unit, payable on December 14, 2022. This reflects a decrease from the previous month, attributed to reduced oil and gas production and prices at the Waddell Ranch and Texas Royalty Properties for September. Gross revenues for the Waddell Ranch were $20,428,441, with net profits contributing $2,384,301 to the distribution. The Texas Royalties reported net profits of $1,415,087. Increased CAPEX and global market conditions pose uncertainties for future distributions.
Simmons Bank, as Trustee of Permian Basin Royalty Trust (PBT), declared a cash distribution of $0.208587 per unit, payable on November 15, 2022. This marks a decrease due to rising production costs and lower oil prices in August. The Waddell Ranch reported oil production of 196,937 bbl at an average price of $95.03, contributing $7,876,671 to the distribution. Texas Royalty Properties had revenues of $2,203,896, contributing $1,929,463. The uncertain global market conditions continue to affect pricing and future distributions.
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