Permian Basin Royalty Trust(PBT) - 2025 Q4 - Annual Results

Cash Distribution - The cash distribution declared for January 2026 is $0.040056 per unit, payable on February 13, 2026, to unit holders of record on January 30, 2026[2]. - General and Administrative Expenses for the month were $172,927, leading to a total distribution of $1,866,989 to 46,608,796 units outstanding[9]. - After deducting taxes and expenses of $132,454, the net profit for December was $963,069, resulting in a net contribution of $914,915 to the distribution[6]. Production and Revenue - Production for Texas Royalty Properties was 17,309 barrels of oil and 8,378 Mcf of gas, with the Trust's allocated portion being 15,285 barrels of oil and 7,401 Mcf of gas[6]. - The average price for oil was $59.18 per bbl and for gas was $8.49 per Mcf, contributing to revenues of $1,095,523 for Texas Royalty Properties[6]. - The distribution increased from the previous month due to a second settlement payment from Blackbeard Operating LLC and higher oil volumes from Texas Royalty Properties, despite lower natural gas volumes and oil pricing[3]. Cost and Financial Position - The Trust is currently in an excess cost position for the Waddell Ranch properties, as production costs exceeded gross proceeds for December 2025[2]. - The Trustee will disclose production, pricing, and cost information from Blackbeard on a quarterly basis in future reports[5]. Market Conditions and Future Outlook - The Trust's future distributions may be affected by worldwide market conditions, making predictions challenging[9]. - A petition filed by SoftVest seeks to modify the Trust's Indenture, aiming to change the approval requirements for amendments[10].