Cash Distribution - The cash distribution declared for June 2024 is $0.072743 per unit, payable on July 15, 2024, to unit holders of record on June 28, 2024[3]. - General and Administrative Expenses for the month were $40,933, leading to a total distribution of $3,390,470 to 46,608,796 units outstanding[8]. Production and Revenue - Production from Texas Royalty Properties was 16,053 barrels of oil and 6,912 Mcf of gas, generating revenues of $1,393,281 after deducting taxes of $146,588, resulting in a net profit of $1,246,693 for June[6]. - The Trust's Net Profit Interest (NPI) of 95% from Texas Royalty Properties contributed $1,184,358 to this month's distribution[6]. - The distribution increased from the previous month primarily due to May proceeds from Waddell Ranch properties amounting to $2,247,045, despite lower oil and gas production[4]. - The average price for oil was $82.22 per bbl and for gas was $10.63 per Mcf, reflecting market conditions impacting pricing[6]. Legal Matters - The Trustee has initiated a lawsuit against Blackbeard Operating, LLC, seeking to recover over $15 million in damages due to alleged improper deductions from royalty payments[9][10]. - A preliminary trial date for the lawsuit has been set for April 21, 2025[9]. Market Conditions - The ongoing market conditions continue to affect pricing for domestic production, making future distributions difficult to predict[8]. - The Trust's cash distribution history and financial reports are available on its website, including the 2023 Annual Report with Form 10-K[11].

Core Points - Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, announced receipt of proceeds amounting to $2,247,045 from the Waddell Ranch Properties, which will be included in the June 2024 distribution calculation [1] - Blackbeard Operating, LLC, the operator of the Waddell Ranch Properties, did not provide supporting documentation regarding production, pricing, or deductions from gross proceeds, which is contrary to historical practice [2] - The Trustee has initiated a lawsuit against Blackbeard to recover over $15 million in damages due to alleged impermissible deductions from royalty payments [3][4] - The Trustee's audit for the period from 2020-2022 identified exceptions to certain expenses deducted from royalty payments, including incorrect overhead charges and duplicate charges [4] - The 2023 Annual Report with Form 10-K, including the Reserve Summary, is available on the Permian's website, along with financial reports and tax information [5]

DALLAS, May 20, 2024 /PRNewswire/ -- 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 $0.020052 per unit, payable on June 14, 2024, to unit holders of record on May 31, 2024. The distribution does not include proceeds from the Waddell Ranch properties for the reasons described in more detail below. This month's distribution decreased from the previous month due m ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period to________ Commission File Number: 001-08033 PERMIAN BASIN ROYALTY TRUST (Exact name of registrant as Specified in the Permian Basin Trust Indentur ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact Name of Registrant as Specified in the Permian Basin Royalty Trust Indenture) (State or Other Jurisdiction of Incorporation or Organization) FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-803 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period ended September 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to ________ Commission file number 1-8033 PERMIAN BASIN ROYALTY TRUST (Exact Name of Registrant as Specified in the Permian Basin Royalty Trust Indenture) Tex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period ended June 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 1-8033 PERMIAN BASIN ROYALTY TRUST (Exact Name of Registrant as Specified in the Permian Basin Royalty Trust Indenture) (855) 588-7839 (Registrant' ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period ended March 31, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to ________ Commission file number: 1-8033 PERMIAN BASIN ROYALTY TRUST (Exact Name of Registrant as Specified in the Permian Basin Royalty Trust Indenture) Texas ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-8033 PERMIAN BASIN ROYALTY TRUST (Exact Name of Registrant as Specified in the Permian Basin Royalty Trust Indenture) (State or Other Jurisdiction of I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period ended September 30, 2022 (I.R.S. Employer Identification No.) Royalty Trust Management Simmons Bank 2911 Turtle Creek Boulevard Suite 850 Dallas, Texas 75219 (Address of Principal Executive Offices; Zip Code) (855) 588-7839 (Registrant's Telephone Number, Including Area Code) N/A (Former Name, Former Address and F ...