PermRock Royalty Trust Announces Closing of Boaz Energy's Sale to T2S Permian Acquisition II LLC
PermRock Royalty Trust (NYSE:PRT) announced the completion of a significant transaction where Boaz Energy II, and its affiliate Boaz Energy II Royalty, (the Grantors) have sold their interests in the Trust's underlying oil and gas properties to T2S Permian Acquisition II .
The sale, which was initiated through a Purchase and Sale Agreement on January 10, 2025, includes two main components: (1) the transfer of all Grantors' rights and interests in the underlying properties, which remain subject to the net profits interest and original Conveyance agreement from May 4, 2018, and (2) the sale of Boaz Energy's 4,884,861 Trust units to Ustx , a wholly-owned subsidiary of T2S Permian.
Boaz Energy will assist in transitioning operations to the new owner, while Argent Trust Company, the Trust's trustee, will continue normal administration of the Trust.
PermRock Royalty Trust (NYSE:PRT) ha annunciato il completamento di una transazione significativa in cui Boaz Energy II e la sua affiliata Boaz Energy II Royalty (i Concedenti) hanno venduto i loro interessi nelle proprietà petrolifere e di gas sottostanti del Trust a T2S Permian Acquisition II.
La vendita, avviata tramite un Contratto di Acquisto e Vendita il 10 gennaio 2025, include due componenti principali: (1) il trasferimento di tutti i diritti e interessi dei Concedenti nelle proprietà sottostanti, che rimangono soggetti all'interesse sui profitti netti e all'accordo di Trasferimento originale del 4 maggio 2018, e (2) la vendita delle 4.884.861 unità del Trust di Boaz Energy a Ustx, una controllata interamente di T2S Permian.
Boaz Energy assisterà nella transizione delle operazioni al nuovo proprietario, mentre Argent Trust Company, il fiduciario del Trust, continuerà l'amministrazione normale del Trust.
PermRock Royalty Trust (NYSE:PRT) anunció la finalización de una transacción significativa en la que Boaz Energy II y su afiliada Boaz Energy II Royalty (los Otorgantes) han vendido sus intereses en las propiedades subyacentes de petróleo y gas del Trust a T2S Permian Acquisition II.
La venta, que se inició a través de un Acuerdo de Compra y Venta el 10 de enero de 2025, incluye dos componentes principales: (1) la transferencia de todos los derechos e intereses de los Otorgantes en las propiedades subyacentes, que siguen sujetos al interés de ganancias netas y al acuerdo de Transferencia original del 4 de mayo de 2018, y (2) la venta de las 4.884.861 unidades del Trust de Boaz Energy a Ustx, una subsidiaria de propiedad total de T2S Permian.
Boaz Energy asistirá en la transición de las operaciones al nuevo propietario, mientras que Argent Trust Company, el fiduciario del Trust, continuará con la administración normal del Trust.
PermRock Royalty Trust (NYSE:PRT)는 Boaz Energy II와 그 계열사 Boaz Energy II Royalty(이하 '양도자')가 Trust의 기본 석유 및 가스 자산에 대한 권리를 T2S Permian Acquisition II에 판매하는 중요한 거래의 완료를 발표했습니다.
이 판매는 2025년 1월 10일에 체결된 구매 및 판매 계약을 통해 시작되었으며, 두 가지 주요 구성 요소를 포함합니다: (1) 양도자의 기본 자산에 대한 모든 권리 및 이익의 이전, 이는 2018년 5월 4일의 순이익 이자 및 원래 양도 계약의 적용을 받습니다, 그리고 (2) Boaz Energy의 4,884,861 Trust 유닛을 T2S Permian의 완전 소유 자회사인 Ustx에 판매하는 것입니다.
Boaz Energy는 새로운 소유자에게 운영 전환을 지원할 것이며, Trust의 수탁자인 Argent Trust Company는 Trust의 정상적인 관리를 계속할 것입니다.
PermRock Royalty Trust (NYSE:PRT) a annoncé l'achèvement d'une transaction significative dans laquelle Boaz Energy II et son affilié Boaz Energy II Royalty (les Donneurs) ont vendu leurs intérêts dans les propriétés sous-jacentes de pétrole et de gaz du Trust à T2S Permian Acquisition II.
La vente, qui a été initiée par un Contrat d'Achat et de Vente le 10 janvier 2025, comprend deux composantes principales : (1) le transfert de tous les droits et intérêts des Donneurs dans les propriétés sous-jacentes, qui restent soumis à l'intérêt sur les bénéfices nets et à l'accord de Transfert original du 4 mai 2018, et (2) la vente des 4.884.861 unités du Trust de Boaz Energy à Ustx, une filiale entièrement détenue de T2S Permian.
Boaz Energy assistera à la transition des opérations au nouveau propriétaire, tandis qu'Argent Trust Company, le fiduciaire du Trust, continuera l'administration normale du Trust.
PermRock Royalty Trust (NYSE:PRT) gab den Abschluss einer bedeutenden Transaktion bekannt, bei der Boaz Energy II und dessen Tochtergesellschaft Boaz Energy II Royalty (die Veräußern) ihre Interessen an den zugrunde liegenden Öl- und Gasvorkommen des Trusts an T2S Permian Acquisition II verkauft haben.
Der Verkauf, der am 10. Januar 2025 durch einen Kauf- und Verkaufsvertrag initiiert wurde, umfasst zwei Hauptkomponenten: (1) die Übertragung aller Rechte und Interessen der Veräußern an den zugrunde liegenden Vorkommen, die weiterhin dem Nettoertragsinteresse und dem ursprünglichen Übertragungsvertrag vom 4. Mai 2018 unterliegen, und (2) den Verkauf von 4.884.861 Trust-Einheiten von Boaz Energy an Ustx, eine hundertprozentige Tochtergesellschaft von T2S Permian.
Boaz Energy wird bei der Übergabe der Betriebe an den neuen Eigentümer unterstützen, während Argent Trust Company, der Treuhänder des Trusts, die normale Verwaltung des Trusts fortsetzen wird.
- Continuity of Trust operations maintained with existing net profits interest arrangements
- Smooth transition planned with previous operator's assistance
- No disruption to Trust administration
- Significant ownership change creating potential operational uncertainty
Under the Purchase and Sale and Agreement, (a) the Grantors sold and conveyed to the Buyer all of the Grantors' right, title and interest in and to the Underlying Properties (which shall remain burdened by the net profits interest and subject to the Conveyance of Net Profits Interest, dated May 4, 2018, by and among the Grantors, Simmons Bank (as trustee of the Trust, succeeded by Argent Trust Company) and Wilmington Trust, National Association); and (b) Boaz Energy sold and conveyed to Ustx LLC, a
Boaz Energy reports that it intends to help facilitate the transfer of operations of the Underlying Properties from Boaz Energy to the Buyer. Argent Trust Company, as trustee of the Trust (the "Trustee"), expects to continue administration of the Trust in the ordinary course of business.
About PermRock Royalty Trust
PermRock Royalty Trust is a
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the transition of operations of the Underlying Properties and processes in support of the administration of the Trust, and statements regarding Boaz Energy's or Buyer's operations of the Underlying Properties.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the SEC on March 28, 2025, and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.
Contact: | PermRock Royalty Trust |
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SOURCE PermRock Royalty Trust
FAQ
What are the key terms of PermRock Royalty Trust (PRT) sale to T2S Permian?
When was the PermRock Royalty Trust (PRT) sale agreement initiated?
How many PRT trust units were transferred in the T2S Permian acquisition?
Will the PRT trust administration change after the T2S Permian acquisition?
What happens to PRT's existing net profits interest after the sale?
