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) announced a monthly cash distribution of $1,119,292.92 ($0.092003 per Trust Unit) for August 2022, payable on September 15, 2022. The distribution is primarily based on June 2022 production. Current month oil sales volumes decreased to 28,114 Bbls, while natural gas increased to 34,980 Mcf. Oil cash receipts were $3.21 million, down $0.11 million from the prior month, whereas natural gas cash receipts rose to $0.33 million. Total operating expenses were $0.70 million, reflecting a $0.09 million decrease.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $1,103,463.10, equating to $0.090702 per Trust Unit, payable on August 12, 2022, to record holders as of July 29, 2022. This distribution is based on oil and natural gas production from May 2022. Current month oil sales totaled $3.32 million, a $0.27 million increase from the prior month, while natural gas receipts remained steady at $0.28 million. Direct operating expenses decreased to $0.79 million, and capital expenditures were $0.51 million, reflecting ongoing development activities in the Permian Basin.
PermRock Royalty Trust (NYSE: PRT) announced a monthly cash distribution of $1,217,916.85 (or $0.100110 per Trust Unit) to be paid on July 15, 2022, based on April 2022 production. Oil sales decreased to $3.05 million due to lower prices and sales volumes, while natural gas receipts grew to $0.28 million from increased volumes. Total operating expenses rose to $0.95 million, alongside capital expenditures of $0.89 million, attributed to well recompletion in Crane County, Texas.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $1,229,733.76 (or $0.101081 per Trust Unit) to record holders as of May 31, 2022, payable on June 14, 2022. This distribution is based on production data from March 2022.
Notable increases in cash receipts were reported: $3.36 million for oil and $0.26 million for natural gas, driven by improved sales volumes and prices. Operating expenses fell to $0.74 million.
PermRock Royalty Trust (NYSE: PRT) announced that at a special meeting on May 4, 2022, unitholders voted to approve key proposals. These included the appointment of Argent Trust Company as successor trustee, to take over once Simmons Bank resigns. The resignation's effective date hinges on fulfilling certain conditions, including necessary approvals from other trusts and potential court validation. The Trust emphasized that forward-looking statements in the release may differ materially due to unanticipated events or conditions.
PermRock Royalty Trust (NYSE:PRT) has declared a monthly cash distribution of $756,626.31 (or $0.062193 per Trust Unit) for record holders as of April 29, 2022, payable on May 13, 2022. This distribution is based on production from February 2022. Oil cash receipts increased to $2.52 million, while natural gas cash receipts rose to $0.24 million. Total direct operating expenses totaled $0.89 million, with capital expenditures at $0.94 million. The Trust maintains a 80% net profits interest from oil and gas production properties in Texas.
PermRock Royalty Trust (NYSE: PRT) announced the adjournment of its Special Meeting, originally scheduled for April 5, 2022, to May 4, 2022, to gather more proxy votes for the appointment of Argent Trust Company as the successor trustee. The meeting will take place at 1:00 p.m. Central Time in Fort Worth, Texas. The proxy materials sent to unitholders on February 11, 2022, remain unchanged, and the record date for voting is February 4, 2022. Unitholders who have not yet voted are encouraged to do so.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $863,622.84 ($0.070988 per Trust Unit) to be paid on April 14, 2022. This distribution reflects production from January 2022. Oil cash receipts increased to $2.30 million due to higher oil prices, despite a drop in sales volumes. Natural gas receipts fell to $0.20 million as both sales volumes and prices declined. Total operating expenses rose to $0.76 million and capital expenditures increased to $0.59 million. These changes highlight the ongoing market volatility affecting the Trust's financial performance.
On February 17, 2022, PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $804,658.60 ($0.066141 per Trust Unit) to record holders as of February 28, 2022, payable on March 14, 2022. The distribution is based on the Trust's production in December 2021. Oil cash receipts were $2.19 million, reflecting a $0.21 million decline from the previous month, driven by lower oil prices and sales volumes. Natural gas receipts totaled $0.25 million, down $0.04 million. Total operating expenses decreased to $0.71 million.
PermRock Royalty Trust (NYSE: PRT) announced a cash distribution of $858,608.63 or $0.070575 per Trust Unit, payable on February 14, 2022. The distribution is based on November 2021 production. Oil cash receipts decreased by $0.01 million to $2.40 million, attributed to lower oil prices, while natural gas receipts rose by $0.03 million to $0.29 million, due to increased sales volumes. Total expenses increased by $0.13 million to $0.87 million, while capital expenditures fell to $0.39 million.
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