Cash Distribution - The cash distribution declared by the Permian Basin Royalty Trust is $0.019615 per unit, payable on May 14, 2025, to unit holders of record on April 30, 2025[2]. Production and Revenue - Production for the Texas Royalty Properties was 17,157 barrels of oil and 10,093 Mcf of gas, resulting in revenues of $1,351,295 after deducting taxes and expenses of $147,465, leading to a net profit of $1,203,830 for April[6]. - The Trust's net profit interest (NPI) of 95% from the Texas Royalty Properties contributed $1,143,639 to this month's distribution[6]. - The average price for oil was $71.97 per barrel and for gas was $11.54 per Mcf, reflecting significant pricing increases compared to the previous month[6]. Expenses and Distribution - General and Administrative Expenses for the month were $229,374, resulting in a total distribution of $914,265 to 46,608,796 units outstanding[9]. Litigation and Operational Issues - The Trust is currently facing an excess cost position for the Waddell Ranch properties, as production costs exceeded gross proceeds for March 2025[2]. - Blackbeard, the operator of the Waddell Ranch properties, has not provided necessary information for calculating net profits interest, leading to delays in reporting[4]. - The Trust has initiated litigation against Blackbeard seeking to recover over $25 million in damages related to disputed overhead costs and other expenses[11]. - The trial date for the ongoing litigation is scheduled for November 17, 2025[10]. Market Conditions - Future distributions may be affected by worldwide market conditions, making predictions challenging[9].
Permian Basin Royalty Trust(PBT) - 2025 Q1 - Quarterly Results