Permian Basin Royalty Trust - PBT STOCK NEWS

Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), announced a cash distribution of $0.195923 per unit, payable on September 15, 2022. This increase from the previous month is due to rising prices for oil and gas from Waddell Ranch, despite lower prices from Texas Royalty Properties. June's net revenue from Waddell Ranch was $26.5 million, with a net contribution of $7.2 million to the distribution. However, future distributions remain uncertain due to global market conditions impacting production pricing.

Permian Basin Royalty Trust announced a cash distribution of $0.163979 per unit for July 2022, payable on August 12, 2022. This increase from the previous month is attributed mainly to improved production and pricing from the Waddell Ranch and Texas Royalty Properties. In May, Waddell Ranch produced 184,994 barrels of oil and 600,972 Mcf of gas, generating net revenue of $24,757,499. Meanwhile, Texas Royalties contributed $1,924,213 to this month's distribution. The annual budget for Waddell Ranch is projected at $92 million for new drill wells and recompletions.

On June 17, 2022, Permian Basin Royalty Trust (NYSE: PBT) announced a cash distribution of $0.091662 per unit, payable on July 15, 2022, to unit holders recorded by June 30, 2022. This distribution increased due to higher pricing from both Texas Royalty Properties and Waddell Ranch properties. April's production reported 181,207 barrels of oil and 475,410 Mcf of gas, generating net revenues of $20.32 million from Waddell Ranch and $1.69 million from Texas Royalties. The Trust's estimated remaining life span is 8 to 10 years with net proved reserves valued at approximately $465 million.

Simmons Bank, Trustee of the Permian Basin Royalty Trust (NYSE: PBT), has declared a cash distribution of $0.034445 per unit for May, payable on June 14, 2022. This distribution reflects an increase influenced by higher pricing from both the Texas Royalty Properties and the newly contributing Waddell Ranch properties. March's production included 167,065 barrels of oil priced at $108.35 per bbl and 451,967 Mcf of gas at $7.37 per Mcf. The Trust's estimated net proved reserves stand at approximately 6.6 million barrels of oil and 11.3 billion cubic feet of gas.

The Permian Basin Royalty Trust (NYSE: PBT) announced the results of its unitholder meeting held on May 4, 2022. Unitholders approved the appointment of Argent Trust Company as the successor trustee, pending the resignation of Simmons Bank. The effective date of the resignation will depend on satisfying conditions outlined in the Trustee's notice and the Trust's definitive proxy statement. Forward-looking statements caution that actual results may differ due to factors such as the inability to secure necessary approvals.

On April 19, 2022, Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), declared a cash distribution of $0.031783 per unit, payable on May 13, 2022, to unit holders of record on April 29, 2022. This distribution marks an increase due to improved production and pricing from Texas Royalty Properties. For February, total oil production was 133,403 bbl and gas production was 489,669 Mcf. Net revenue from the Waddell Ranch was $14,141,963. However, a deficit of $4.8 million remains, potentially affecting future distributions.

Permian Basin Royalty Trust (NYSE: PBT) announced the adjournment of its Special Meeting of unitholders from April 5, 2022, to May 4, 2022, due to a lack of quorum. The purpose of the meeting is to approve the appointment of Argent Trust Company as the successor trustee. No changes have been made to the proxy materials provided to unitholders, and the record date for voting remains February 4, 2022. Unitholders who have voted do not need to act further, while those who haven't are encouraged to submit their votes.

Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), declared a cash distribution of $0.019331 per unit, payable on April 14, 2022, to unit holders of record by March 31, 2022. This distribution reflects a decrease due to reduced oil and gas production, despite favorable pricing. Notably, the Waddell Ranch remains in deficit, impacting future distributions. In January, Waddell Ranch produced 146,556 barrels of oil and 486,150 Mcf of gas, generating $14.4 million in gross revenue. General and Administrative expenses deducted were $238,697.

Permian Basin Royalty Trust (NYSE: PBT) declared a cash distribution of $0.029164 per unit, payable on March 14, 2022. This reflects a decrease from the previous month due to lower oil and gas production and pricing in December. Oil production was 145,009 barrels at $70.13 per barrel, while gas production was 538,676 Mcf at $6.84 per Mcf, resulting in a net revenue of $1,696,358 for the month. Future distributions may be impacted by ongoing market conditions.