Cash Distribution - The cash distribution declared by the Permian Basin Royalty Trust is $0.020510 per unit, payable on February 14, 2025, to unit holders of record on January 31, 2025[2]. - General and Administrative Expenses for the month were $76,189, resulting in a total distribution of $955,953 to 46,608,796 units outstanding[8]. Production and Revenue - Production from the Texas Royalty Properties was 16,839 barrels of oil and 9,283 Mcf of gas, generating revenues of $1,228,673 after deducting taxes and expenses[6]. - The average price for oil was $67.69 per barrel and for gas was $9.56 per Mcf, reflecting a decrease from the prior month[7]. - The distribution decreased slightly from the previous month due to lower oil volumes and prices, despite higher gas volumes reported[3]. Costs and Expenses - Excess costs for the Waddell Ranch properties totaled $4,987,682 for October, with $3,740,762 net to the Trust, indicating a continuing excess cost position[5]. Legal Matters - The Trust is currently involved in litigation against Blackbeard Operating, seeking to recover over $25 million in damages related to disputed overhead costs and royalty payments[10][11]. - The Trustee has initiated audits and legal actions to address discrepancies in royalty payments and overhead charges[11]. Future Outlook - The Trust's future distributions may be affected by ongoing worldwide market conditions, making predictions difficult[9]. - The Trustee's net profit interest from the Texas Royalty Properties contributed $1,032,142 to this month's distribution[6].
Permian Basin Royalty Trust(PBT) - 2024 Q4 - Annual Results