Permian Basin Royalty Trust(PBT) - 2024 Q2 - Quarterly Results

Cash Distribution - The cash distribution for September 2024 is declared at $0.050711 per unit, payable on October 15, 2024, to unit holders of record on September 30, 2024[1]. - The distribution decreased from the previous month due to lower proceeds from Waddell Ranch properties, with August proceeds amounting to$934,450[1]. - General and Administrative Expenses deducted for the month were $54,550, leading to a total distribution of$2,363,614 to 46,608,796 units outstanding[2]. Production and Revenue - Production from Texas Royalty Properties was 20,846 barrels of oil and 7,012 Mcf of gas, with the Trust's allocated portion being 18,843 barrels of oil and 6,337 Mcf of gas[2]. - The average price for oil was $79.03 per bbl and for gas was$10.00 per Mcf, reflecting production and pricing in June for oil and May for gas[2]. - Revenues for Texas Royalty Properties totaled $1,717,563, with taxes and expenses of$155,804, resulting in a net profit of $1,561,759 for September[1]. - The Trust's Net Profit Interest (NPI) of 95$1,483,671 to this month's distribution[1]. Legal Matters - The Trustee has initiated a lawsuit against Blackbeard Operating, LLC, seeking to recover over $25 million in damages related to disputed overhead costs and other expenses[2]. - The preliminary trial date for the lawsuit is set for April 21, 2025[2]. Reporting - The 2023 Annual Report with Form 10-K is available on Permian's website, including financial reports and tax information[2].