Core Insights - The article emphasizes a versatile investment strategy suitable for various investor profiles, including dividend investors, value seekers, and those looking for growth opportunities [1] Summary by Categories Investment Strategy - The investment strategy described is adaptable, catering to different types of investors, whether they focus on dividends, value propositions, or growth opportunities [1]

Accessibility StatementSkip Navigation DALLAS, Nov. 17, 2025 /PRNewswire/ -- Â Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT).("Permian" or the "Trust") today declared a cash distribution to the holders of its units of beneficial interest of $0.019233 per unit, payable on December 12, 2025, to unit holders of record on November 28, 2025. The distribution does not include proceeds from the Waddell Ranch properties, as total production costs ("Production Costs") exceeded gross ...

Group 1 - Permian Basin Royalty Trust (PBT) has achieved significant market-trouncing returns over the last five years due to its unique business model [1] - The company operates in the oil and gas industry but does not incur exploration and production costs, instead generating income from royalties [1]

Financial Performance - Distributable income for the three months ended September 30, 2025, was $6,861,887, down 14.8% from $8,053,284 for the same period in 2024[19] - For the nine months ended September 30, 2025, distributable income was $11,855,354, a decrease of 46% compared to $21,982,178 for the same period in 2024[20] - Total income for the nine months ended September 30, 2025, was $13,450,373, a decline of 42.3% from $23,298,094 for the same period in 2024[20] - Distributions per unit for the three months ended September 30, 2025, were $0.15, down from $0.17 in the same period of 2024[22] - Distributable income for Q3 2025 was $6,861,887 or $0.15 per Unit, compared to $8,053,284 or $0.17 per Unit in Q3 2024[69] - Distributable income for the nine months ended September 30, 2025, was $11,855,354, or $0.25 per Unit, down from $21,982,178, or $0.47 per Unit, for the same period in 2024, representing a decrease of about 46%[80] Revenue and Income Sources - Royalty income for the three months ended September 30, 2025, was $7,258,464, down 13.2% from $8,366,375 in the prior year[19] - Royalty income for the nine months ended September 30, 2025, was $13,403,049, a decrease of approximately 42% compared to $23,175,406 for the same period in 2024[78] - The Trust's royalty income is computed as a percentage of net profit, with the Waddell Ranch properties contributing 75% and the Texas Royalty properties contributing 95% to the royalty income[90] Asset and Liability Overview - As of September 30, 2025, total assets of the Permian Basin Royalty Trust amounted to $6,655,631, a significant increase from $2,286,992 as of December 31, 2024[17] - The total liabilities as of September 30, 2025, were $6,493,208, reflecting an increase from $2,122,585 at the end of 2024[17] - The cash and short-term investments increased to $6,493,208 as of September 30, 2025, compared to $2,122,585 at the end of 2024[17] Operational Metrics - Oil sales for Waddell Ranch properties totaled 913,912 barrels in Q3 2025, compared to 533,073 barrels in Q3 2024, while gas sales increased to 4,072,978 Mcf from 3,387,875 Mcf[71] - Oil sales (Bbls) from the Waddell Ranch properties for the nine months ended September 30, 2025, were 2,310,987, compared to 1,468,441 for the same period in 2024, indicating an increase of approximately 57%[83] - Gas sales (Mcf) from the Waddell Ranch properties for the nine months ended September 30, 2025, were 11,138,948, compared to 8,761,191 for the same period in 2024, reflecting an increase of about 27%[83] Price and Market Influences - The price of oil fluctuated between $58.50 and $75.89 per barrel in the second quarter of 2025, impacting the Trust's income and distributions[59] - Average realized oil price for Waddell Ranch properties decreased to $62.32 per barrel in Q3 2025 from $79.91 per barrel in Q3 2024, while gas price increased to $1.35 per Mcf from $1.19 per Mcf[72] - For Texas Royalty properties, average realized oil price fell to $65.20 per barrel in Q3 2025 from $79.06 per barrel in Q3 2024, and gas price decreased to $8.65 per Mcf from $10.54 per Mcf[74] - Average realized oil prices for the Waddell Ranch properties decreased to $66.68 per Bbl for the nine months ended September 30, 2025, down from $76.62 per Bbl for the same period in 2024, reflecting a decline of about 13%[84] - Average realized gas prices for the Waddell Ranch properties increased to $1.80 per Mcf for the nine months ended September 30, 2025, compared to $1.61 per Mcf for the same period in 2024, marking an increase of approximately 11.8%[84] Settlements and Legal Matters - The Trust received a partial settlement of $4.5 million in September 2025 from Blackbeard, with a total settlement amount of $9 million to be paid in installments[47] - The Trust has entered into a Settlement Agreement with Blackbeard, agreeing to a payment of $9,000,000, with $4,500,000 paid in September 2025 and the remaining amount to be paid in four quarterly installments of $1,125,000 during 2026[100][101] - The Settlement Agreement establishes an overhead rate for the Trust and allows Blackbeard to pass through third-party charges for saltwater disposal and other services[102] - There have been no material changes in the Trust's internal control over financial reporting during the reporting period[98] - The Trust has no material pending legal proceedings against it or its properties[103] Expenses and Cost Management - Total expenses in Q3 2025 were $411,626, up from $367,625 in Q3 2024, mainly due to increased legal expenses related to Blackbeard[68] - Lease operating expenses and property taxes for the nine months ended September 30, 2025, amounted to $67.8 million (gross), up from $60.1 million (gross) in the same period of 2024, indicating an increase of about 28%[89] - The Trust maintains an expense reserve of $1,100,000 to cover obligations in case of insufficient royalty income[54] Governance and Meetings - A special meeting of Unitholders is scheduled for December 16, 2025, to discuss potential amendments to the Trust Indenture[63] - Blackbeard will provide quarterly production and sales information to the Trust, enhancing transparency and reporting accuracy[71] - The Trust does not have any directors or officers, and therefore no trading arrangements have been adopted or terminated[106] Risk Factors - Risk factors related to the Trust remain unchanged from the previous Annual Report for the fiscal year ended December 31, 2024[104] - The Trust's income is heavily influenced by commodity prices, which have shown volatility due to geopolitical conditions[59] - The Trust's accounting policies differ from GAAP, with revenues not accrued in the month of production and expenses recorded when paid[32] - The Trust is exempt from Texas franchise tax as a passive entity, benefiting Unitholders from tax considerations[49]

[Permian Basin Royalty Trust Announces October Cash Distribution, Excess Cost Position on Waddell Ranch Properties and Notice of Special Meeting Called by SoftVest](index=1&type=section&id=Permian%20Basin%20Royalty%20Trust%20Announces%20October%20Cash%20Distribution%2C%20Excess%20Cost%20Position%20on%20Waddell%20Ranch%20Properties%20and%20Notice%20of%20Special%20Meeting%20Called%20by%20SoftVest) Permian Basin Royalty Trust announces October cash distribution, Waddell Ranch excess cost, and a special meeting called by SoftVest [October Cash Distribution and Property Performance](index=1&type=section&id=October%20Cash%20Distribution%20and%20Property%20Performance) The Trust announced an October cash distribution, which decreased due to a missing settlement payment, partially offset by improved Texas Royalty Properties performance, while Waddell Ranch remained in an excess cost position [Distribution Details](index=1&type=section&id=Distribution%20Details) Details of the October cash distribution per unit, payable date, and record date are provided October Cash Distribution Details | Metric | Value | | :----- | :---- | | Cash Distribution per Unit | $0.020021 | | Payable Date | November 17, 2025 | | Record Date | October 31, 2025 | [Factors Affecting Distribution](index=1&type=section&id=Factors%20Affecting%20Distribution) The distribution decreased due to the absence of a Blackbeard settlement payment, partially offset by improved Texas Royalty Properties volumes and natural gas prices - The distribution **decreased** compared to the previous month primarily due to the absence of the first settlement payment from Blackbeard Operating LLC. This decrease was partially offset by **higher oil and natural gas volumes and natural gas prices** from the Texas Royalty Properties, though oil prices were lower for the month reported[3](index=3&type=chunk) [Waddell Ranch Properties Update](index=1&type=section&id=Waddell%20Ranch%20Properties%20Update) Waddell Ranch properties continued in an excess cost position, yielding no proceeds for the October distribution, with operational data now reported quarterly - No proceeds were received by the Trustee in September 2025 for the October distribution from Waddell Ranch properties, as total production costs exceeded gross proceeds for August, resulting in a continuing **excess cost position**. All excess costs, including accrued interest, must be recovered before future proceeds are distributed to the Trust[2](index=2&type=chunk)[5](index=5&type=chunk) - Blackbeard Operating LLC provides production, pricing, and cost information for Waddell Ranch **quarterly instead of monthly**. Consequently, the Trustee will disclose this information in quarterly reports on Form 10-Q and annual reports on Form 10-K for the foreseeable future[5](index=5&type=chunk)[8](index=8&type=chunk) [Texas Royalty Properties Performance & General and Administrative Expenses](index=1&type=section&id=Texas%20Royalty%20Properties%20Performance%20%26%20General%20and%20Administrative%20Expenses) Texas Royalty Properties contributed positively with specific production and pricing, while general and administrative expenses were accounted for in the total distribution Texas Royalty Properties Production and Pricing (Current Month) | Metric | Underlying Properties | Net to Trust Sales | Average Price | | :----- | :-------------------- | :----------------- | :------------ | | **Oil** | | | | | Volumes (bbls) | 16,239 | 14,323 | $65.08 per bbl | | **Gas** | | | | | Volumes (Mcf) | 13,282 | 11,709 | $8.10 per Mcf | Texas Royalty Properties Financial Contribution (September) | Metric | Amount | | :----- | :----- | | Revenues | $1,164,303 | | Taxes and Expenses | $140,125 | | Net Profit | $1,024,178 | | Trust's NPI (95%) | $972,969 | General and Administrative Expenses & Total Distribution | Metric | Amount | | :----- | :----- | | G&A Expenses (net of interest) | $39,774 | | Total Distribution Amount | $933,195 | | Units Outstanding | 46,608,796 | | Distribution per Unit | $0.020021 | [Special Meeting Details](index=1&type=section&id=SPECIAL%20MEETING) A special meeting, requested by SoftVest Advisors, LLC, is scheduled for December 16, 2025, to vote on amending the Trust's Indenture regarding voting thresholds for amendments [Purpose and Logistics](index=1&type=section&id=Purpose%20and%20Logistics) SoftVest Advisors, LLC requested a special meeting on December 16, 2025, to vote on a proposal to judicially reform the Trust's Indenture regarding amendment voting thresholds - SoftVest Advisors, LLC, along with other unit holders collectively owning **over 15% of outstanding Units**, requested a special meeting to be held on **December 16, 2025**, with a record date of November 11, 2025[10](index=10&type=chunk) - The purpose of the Special Meeting is to present for a vote a proposal to effect the judicial reformation of the Trust's Indenture, aiming to provide that an affirmative vote of a **majority of Units cast** at a special meeting (with a quorum present) is sufficient to approve any amendment to the Trust Indenture[10](index=10&type=chunk) [Proxy Information](index=2&type=section&id=Proxy%20Information) This press release is not a proxy solicitation, and Unit holders are advised to review proxy statements filed by SoftVest with the SEC for important information - This press release is **not a proxy solicitation**. Neither the Trust, the Trustee, nor its officers or directors are soliciting proxies or participating in any proxy solicitation by SoftVest and/or other Unit holders in connection with the Special Meeting[11](index=11&type=chunk) - Unit holders are strongly encouraged to read the preliminary and definitive proxy statements filed by SoftVest and/or other Unit holders with the SEC, which will contain important information. These documents can be obtained free from the SEC's website at www.sec.gov[12](index=12&type=chunk) [Corporate Information and Disclosures](index=3&type=section&id=Corporate%20Information%20and%20Disclosures) The Trust's 2024 Annual Report is filed, investor resources are available online, and a forward-looking statements disclaimer is included, along with contact information [Investor Resources](index=3&type=section&id=Investor%20Resources) The 2024 Annual Report on Form 10-K has been filed, and additional investor resources are available on Permian's website - The **2024 Annual Report with Form 10-K**, including the December 31, 2024, Reserve Summary, has been filed with the Securities Exchange Commission. Permian's website (http://www.pbt-permian.com/) offers cash distribution history, current and prior year financial reports, tax information booklets, and links to SEC filings[13](index=13&type=chunk) [Forward-Looking Statements Disclaimer](index=3&type=section&id=FORWARD-LOOKING%20STATEMENTS) Statements about future events are forward-looking and subject to risks, with the Trustee disclaiming any obligation to update them - Statements about future events or conditions, identified by words like 'estimates,' 'believes,' 'anticipates,' 'plans,' 'expects,' 'will,' 'may,' and 'intends,' constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to factors described in the Trust's Form 10-K and 10-Q risk factors[14](index=14&type=chunk) - The Trustee's views on forward-looking statements are as of the date of the press release, and while subsequent events may cause views to change, the Trustee specifically **disclaims any obligation to update these statements** in the future. These statements should not be relied upon as representing the Trustee's views as of any date subsequent to the date of the release[15](index=15&type=chunk) [Contact Information](index=3&type=section&id=Contact%20Information) Contact details for Nancy Willis, Director of Royalty Trust Services at Argent Trust Company, are provided for inquiries - Contact: Nancy Willis, Director of Royalty Trust Services, Argent Trust Company, Trustee, Toll Free – **1.855.588.7839**[16](index=16&type=chunk)

Core Points - The Permian Basin Royalty Trust declared a cash distribution of $0.020021 per unit, payable on November 17, 2025, to unit holders of record on October 31, 2025 [1] - The distribution decreased compared to the previous month due to the absence of a settlement payment from Blackbeard Operating LLC and excess production costs from the Waddell Ranch properties [1][2] - Higher oil and natural gas prices from Texas Royalty Properties partially offset the decrease in distribution [1] Waddell Ranch Properties - No proceeds were received from the Waddell Ranch properties for September 2025, which affected the October distribution [2] - All excess costs must be recovered by future proceeds from the Waddell Ranch properties before any distributions can be made to the Trust [2] - Blackbeard provides production, pricing, and cost information quarterly, which will be disclosed in quarterly and annual reports [2][5] Texas Royalty Properties - Production for Texas Royalty Properties was 16,239 barrels of oil and 13,282 Mcf of gas, with the Trust's allocated portion being 14,323 barrels of oil and 11,709 Mcf of gas [3] - Average prices were $65.08 per barrel for oil and $8.10 per Mcf for gas, reflecting production and pricing from July and June respectively [3] - Revenues from Texas Royalty Properties amounted to $1,164,303, with net profits of $1,024,178 after taxes and expenses [3] Financial Summary - General and administrative expenses for the month were $39,774, leading to a total distribution of $933,195 to 46,608,796 units outstanding [6] - The distribution per unit is $0.020021, reflecting the impact of worldwide market conditions on domestic production pricing [6] Special Meeting - A special meeting of the Trust's unit holders is scheduled for December 16, 2025, at the request of SoftVest Advisors, LLC and other unit holders [7] - The purpose of the meeting is to vote on a proposal for judicial reformation of the Trust's Indenture [7] - Additional details regarding the special meeting will be provided in a notice to unit holders [7]

Core Insights - Permian Basin Royalty Trust (NYSE:PBT) is highlighted as one of the most profitable oil stocks currently available for investment [1] - The company has demonstrated strong financial performance, significantly outperforming the market in both year-to-date and five-year returns [2] - A cash distribution of $0.115493 per unit is scheduled for payment to unitholders, reflecting the company's commitment to providing consistent income [3] Financial Performance - Year-to-date return for Permian Basin Royalty Trust is 64.43%, compared to the market's 13.25% [2] - Five-year return for the trust stands at 751.83%, while the market return is 99.71% [2] Company Overview - Permian Basin Royalty Trust, based in Dallas, Texas, holds royalty interests in various oil and gas properties and was founded in 1980 [4] - The company aims to deliver consistent income to its shareholders [4] Recent Developments - Avondale Wealth Management reduced its position in the trust by 74.1%, selling 21,500 shares, and now holds 7,500 shares valued at $93,000 [1] - Argent Trust Company announced a cash distribution to unitholders, scheduled for payment on October 15, 2025 [3]

Core Viewpoint - Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, declared a cash distribution of $0.115493 per unit, payable on October 15, 2025, which includes a settlement payment from Blackbeard Operating, LLC, but excludes proceeds from the Waddell Ranch properties due to excess production costs [1][2][10]. Distribution Details - The cash distribution increased from the previous month primarily due to the first settlement payment from Blackbeard Operating LLC, alongside higher natural gas volumes and oil prices from Texas Royalty Properties, despite lower oil volumes and natural gas pricing [2][8]. - The total distribution amount is $5,383,005, distributed among 46,608,796 units outstanding [8]. Waddell Ranch Properties - No proceeds were received from the Waddell Ranch properties for August 2025, leading to a continuing excess cost position that must be recovered before any future distributions can occur [4][10]. - Blackbeard provides production, pricing, and cost information quarterly, which will be disclosed in the Trust's quarterly and annual reports [4][7]. Texas Royalty Properties - Production for Texas Royalty Properties was 15,856 barrels of oil and 12,275 Mcf of gas, with the Trust's allocated portion being 13,944 barrels of oil and 10,800 Mcf of gas [5][6]. - The average price for oil was $65.76 per barrel and for gas was $6.65 per Mcf, resulting in revenues of $1,124,318 after deducting taxes and expenses [5][6]. Settlement with Blackbeard - The settlement agreement with Blackbeard includes a total payment of $9 million, with $4.5 million already paid and the remainder to be paid in quarterly installments of $1,125,000 during 2026 [11][12]. - The agreement also establishes overhead rates and allows Blackbeard to pass through certain charges, while the Trust retains the option for annual site audits [12]. Market Conditions - Worldwide market conditions continue to impact pricing for domestic production, making it challenging to predict future distributions [9].

Core Viewpoint - Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, has reached a settlement with Blackbeard Operating, LLC regarding a lawsuit over royalty payments, resulting in a total payment of $9 million to the Trust [1][2]. Group 1: Settlement Details - Blackbeard will pay the Trust $9 million, with $4.5 million due within 30 days and the remaining $4.5 million paid in four quarterly installments of $1.125 million throughout 2026 [2]. - The settlement establishes an overhead rate for charges to the Trust and allows Blackbeard to pass through certain third-party charges, including salt water disposal and technical labor costs [3]. Group 2: Future Implications - The agreement prevents the Trust from making future claims for lost volumes due to ordinary line loss and allows for annual site audits at the Trust's expense [3]. - Blackbeard is required to provide agreed reporting to the Trustee moving forward, which aims to enhance predictability in future royalty payments [4].

Core Viewpoint - Argent Trust Company declared a cash distribution of $0.016418 per unit for the Permian Basin Royalty Trust, with the distribution date set for September 15, 2025, and record date on August 29, 2025. The distribution does not include proceeds from the Waddell Ranch properties due to production costs exceeding gross proceeds for July 2025 [1][4]. Distribution Summary - The current month's distribution increased compared to the previous month, primarily due to higher natural oil volumes from Texas Royalty Properties, although this was partially offset by lower natural gas volumes and decreased oil and gas pricing [2]. - The total production for Texas Royalty Properties was 16,672 barrels of oil and 9,952 Mcf of gas, with the Trust's allocated portion being 14,645 barrels of oil and 8,742 Mcf of gas. The average prices were $62.02 per barrel for oil and $7.53 per Mcf for gas, leading to revenues of $1,109,052 after deducting taxes and expenses [5][6]. Waddell Ranch Properties - Blackbeard Operating, LLC has not provided necessary information for calculating net profits interest (NPI) proceeds for August 2025, which affects the distribution. If NPI proceeds are received by the record date, they will be included in the September distribution [3][4]. - All excess costs from the Waddell Ranch properties must be recovered through future proceeds before any distributions can be made to the Trust. Blackbeard is now providing production, pricing, and cost information quarterly instead of monthly [4][8]. Legal Matters - The Trustee has filed a lawsuit against Blackbeard for over $9 million in damages, alleging improper calculations and deductions related to royalties owed to the Trust. The trial is scheduled for November 17, 2025 [10][11].