Permianville Royalty Trust Announces Monthly Cash Distribution
Permianville Royalty Trust (NYSE: PVL) has announced a cash distribution of $0.032000 per unit, payable on June 14, 2022. This distribution is based on reported oil production for February 2022 and natural gas production for January 2022. For the current month, oil cash receipts totaled $3.5 million at an average price of $86.55/Bbl, while natural gas receipts were $1.7 million at $5.00/Mcf. Total accrued operating expenses increased to $2.8 million, reflecting a rising trend in expenses due to increased development activity.
- Cash distribution of $0.032000 per unit highlights ongoing profitability.
- Oil cash receipts remained stable at $3.5 million month-over-month.
- Natural gas cash receipts increased by $0.6 million from the prior month.
- Accrued operating expenses rose to $2.8 million, indicating higher costs.
- Increased capital expenditures of $0.3 million could impact future distributions.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
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Underlying Sales Volumes |
|
Average Price |
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|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
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|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
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Current Month |
|
40,553 |
|
1,448 |
|
331,076 |
|
10,680 |
|
$ |
86.55 |
|
$ |
5.00 |
Prior Month |
|
47,114 |
|
1,520 |
|
266,091 |
|
8,584 |
|
$ |
74.79 |
|
$ |
4.09 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled
Recorded natural gas cash receipts from the
Total accrued operating expenses for the period were
Given the increase in rig count and operator activity on the
About
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 as a result of a variety of factors that are beyond the control of the Trust and the Sponsor. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2021 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the
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FAQ
What is the cash distribution amount for Permianville Royalty Trust (PVL) announced in May 2022?
When will the cash distribution be paid to PVL unitholders?
What were the oil and natural gas cash receipts for Permianville Royalty Trust in May 2022?
What was the average wellhead price for oil and natural gas for PVL in May 2022?