Welcome to our dedicated page for PermRock Royalty Trust Trust Unit news (Ticker: PRT), a resource for investors and traders seeking the latest updates and insights on PermRock Royalty Trust Trust Unit stock.
PermRock Royalty Trust (NYSE: PRT) is a Delaware statutory trust created by Boaz Energy II, LLC to own a net profits interest, which entitles the Trust to receive 80% of the net profits from the sale of oil and natural gas production from properties owned by Boaz Energy in the Permian Basin of West Texas. The Trust's primary function is to distribute the cash it receives from these net profits to its unitholders and to carry out certain administrative duties.
The Trust has a unique structure where it does not operate any oil and gas wells directly but earns income from the production activities conducted on the underlying properties. This model ensures that the Trust benefits when the prices of oil and natural gas are favorable, though it is also subject to the volatility in these commodity prices. Recently, the Trust has been steady in declaring monthly cash distributions to its unitholders. For instance, in May 2024, the Trust announced a cash distribution of $490,223.49, reflecting an increase in oil sales volumes and prices for the month of March 2024.
Boaz Energy, as the operator and trustor, reports on the performance and financial metrics, such as oil and natural gas sales volumes and prices, direct operating expenses, and capital expenditures. For instance, in June 2024, the Trust's total direct operating expenses amounted to $0.74 million, with severance and ad valorem taxes standing at $0.14 million. The Trust also reported capital expenses of $0.30 million, primarily due to the conversion of a well to an injector in Terry County, Texas.
PermRock Royalty Trust's financial health and the amount of cash available for distribution are influenced by various factors including commodity price fluctuations, production volumes, and operating expenses. It is also impacted by decisions made by Boaz Energy regarding capital projects and reserves for future expenses. Despite these variables, the Trust continues to provide a steady stream of income to its unitholders, underscoring its commitment to leveraging its net profits interest for their benefit.
About PermRock Royalty Trust: PermRock Royalty Trust, through its net profits interest, secures a significant share of the profits from oil and natural gas production activities in one of the most prolific oil-producing regions in the United States. The Trust’s ongoing distributions, transparent operations, and strategic management by Boaz Energy aim to deliver consistent value to its stakeholders.
PermRock Royalty Trust (NYSE:PRT) has declared a monthly cash distribution of $489,995.26 ($0.040276 per Trust Unit) for January 2025, payable on February 14, 2025. The distribution is based on November 2024 production.
Key production metrics show oil sales volumes decreased to 22,491 barrels (750 Bbls/D) from 24,938 barrels, while natural gas volumes increased slightly to 28,372 Mcf (946 Mcf/D). Average oil prices declined to $67.80 per barrel from $70.24, while natural gas prices increased to $2.53 per Mcf from $2.37.
Oil receipts decreased by $0.23 million to $1.52 million, while natural gas receipts remained stable at $0.07 million. Operating expenses increased by $0.38 million to $0.97 million. Capital expenses decreased by $0.06 million to $0.05 million due to completed recompletion projects. The Trust applied $208,000 of previously reserved funds to this month's calculation.
PermRock Royalty Trust (NYSE:PRT) announced that Boaz Energy II, and its affiliate Boaz Energy II Royalty, have entered into a Purchase and Sale Agreement with T2S Permian Acquisition II on January 10, 2025. The agreement involves the sale of Boaz Energy's interests in the Underlying Properties, which will remain subject to the Trust's Net Profits Interest, and Boaz Energy's 4,884,861 Trust units.
The transaction is expected to close in March 2025, subject to customary closing conditions. Following the closing, T2S Permian Acquisition II will become the owner and operator of the Underlying Properties while maintaining the existing Net Profits Interest arrangement. Boaz Energy will assist in the operational transition, and Argent Trust Company will continue its regular administration of the Trust.
PermRock Royalty Trust (NYSE: PRT) has declared a monthly cash distribution of $612,260.75 ($0.050326 per Trust Unit) for December 2024, payable on January 15, 2025. The distribution is based on October 2024 production. Key metrics show oil sales volumes increased to 24,938 barrels (804 Bbls/D) with an average price of $70.24 per barrel, while natural gas volumes were 27,951 Mcf (902 Mcf/D) at $2.37 per Mcf.
Oil cash receipts increased by $0.20 million to $1.75 million, while natural gas receipts rose slightly by $0.02 million to $0.07 million. Operating expenses decreased by $0.14 million to $0.59 million, and capital expenses dropped by $0.60 million to $0.11 million. Boaz Energy reserved $32,000 for future capital obligations.
PermRock Royalty Trust announced a monthly cash distribution of $368,269.31 ($0.030271 per Trust Unit) for November 2024. The distribution is based on September 2024 production. Oil sales volumes decreased to 22,464 barrels from 24,944 barrels, with prices dropping to $68.87 per barrel from $74.92. Natural gas volumes declined to 27,970 Mcf from 29,787 Mcf, with prices falling to $1.66 per Mcf from $2.00. Oil receipts decreased by $0.32 million to $1.55 million, while natural gas receipts dropped by $0.01 million to $0.05 million. Operating expenses slightly decreased to $0.73 million, and capital expenses increased by $0.30 million to $0.71 million due to drilling activities.
PermRock Royalty Trust (NYSE:PRT) has declared a monthly cash distribution of $367,645.06 ($0.030219 per Trust Unit) for record holders as of October 31, 2024, payable on November 15, 2024. This distribution is based on August 2024 production. Key highlights:
- Oil sales volume increased to 24,944 Bbls (805 Bbls/D) from 23,434 Bbls (756 Bbls/D) in the prior month
- Natural gas sales volume slightly increased to 29,787 Mcf (961 Mcf/D) from 29,276 Mcf (944 Mcf/D)
- Oil price decreased to $74.92 per Bbl from $78.98 per Bbl
- Natural gas price decreased to $2.00 per Mcf from $2.25 per Mcf
Oil cash receipts increased by $0.02 million, while natural gas cash receipts decreased by $0.01 million. Total direct operating expenses increased slightly by $0.02 million. Capital expenses decreased by $0.21 million, primarily due to the completion of a well upgrade in the Permian Platform.
PermRock Royalty Trust (NYSE:PRT) has declared a monthly cash distribution of $365,300.26 ($0.030026 per Trust Unit) for record holders as of September 30, 2024, payable on October 15, 2024. This distribution is based on July 2024 production. Key highlights include:
- Oil sales: 23,434 Bbls at $78.98 per Bbl
- Natural gas sales: 29,276 Mcf at $2.25 per Mcf
- Oil cash receipts: $1.85 million, up $0.10 million from prior month
- Natural gas cash receipts: $0.07 million, slight increase from prior month
- Total direct operating expenses: $0.72 million, up $0.04 million
- Capital expenses: $0.62 million, up $0.38 million
Boaz Energy applied $172,000 net to the Trust from previously reserved funds for future capital obligations and expenses.
PermRock Royalty Trust (NYSE:PRT) has declared a monthly cash distribution of $488,593.20 ($0.040161 per Trust Unit) for August 2024, based on June 2024 production. Oil sales volumes decreased from 24,389 Bbls to 22,761 Bbls, with average prices dropping from $78.30 to $76.91 per Bbl. Natural gas sales volumes slightly decreased, but prices increased from $1.88 to $2.09 per Mcf.
Oil cash receipts declined by $0.16 million, while natural gas receipts remained stable. Total direct operating expenses decreased by $0.10 million, and capital expenses increased by $0.04 million, primarily due to fracking a well in Crane County, Texas. Boaz Energy applied $156,000 net to the Trust from previously reserved funds for future capital obligations and expenses.
PermRock Royalty Trust (NYSE: PRT) has declared a monthly cash distribution of $486,890.73 ($0.040021 per Trust Unit) for July 2024, based on May 2024 production. Key highlights include:
- Oil sales volume increased to 24,389 barrels (787 Bbls/D) from 23,159 barrels in the prior month.
- Natural gas sales volume rose to 30,833 Mcf (995 Mcf/D) from 27,916 Mcf.
- Oil price decreased to $78.30 per Bbl from $83.14 per Bbl.
- Natural gas price dropped to $1.88 per Mcf from $2.31 per Mcf.
- Oil cash receipts decreased by $0.02 million to $1.91 million.
- Total direct operating expenses increased by $0.04 million to $0.78 million.
- Capital expenses decreased by $0.10 million to $0.20 million.
Boaz Energy reserved $54,800 net to the Trust for future capital obligations and expenses.
PermRock Royalty Trust (NYSE: PRT) declared a monthly cash distribution of $486,630.74 ($0.040000 per Trust Unit) to record holders as of June 28, 2024. The distribution, payable on July 15, 2024, is based on April's production. Oil sales volumes were 23,159 Bbls at $83.14 per Bbl, and natural gas sales were 27,916 Mcf at $2.31 per Mcf. Compared to the prior month, oil receipts decreased by $0.13 million, and natural gas receipts fell by $0.03 million. Operating expenses increased by $0.01 million to $0.74 million, while severance and ad valorem taxes rose by $0.06 million to $0.14 million. Capital expenses jumped by $0.17 million to $0.30 million due to well conversion in Texas. Boaz Energy applied $14,048 to cover future obligations.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $490,223.49 ($0.040295 per Trust Unit) to record holders as of May 31, 2024, payable on June 14, 2024. This distribution is based mainly on March 2024 production.
Oil sales volumes increased to 26,162 barrels, while natural gas sales volumes rose to 28,443 Mcf. The average received prices were $78.88 per barrel for oil and $3.00 per Mcf for natural gas.
Oil cash receipts totaled $2.06 million, up by $0.33 million from the prior month, while natural gas receipts were stable at $0.09 million. Operating expenses decreased slightly to $0.73 million, and severance and ad valorem taxes declined to $0.09 million due to tax reimbursements. Capital expenses dropped to $0.13 million, driven by fewer capital projects. Boaz Energy reserved $184,000 for future capital obligations and expenses.
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