PERMIAN BASIN ROYALTY TRUST ANNOUNCES FILING OF SECOND AMENDED PETITION AGAINST BLACKBEARD OPERATING, LLC

Core Viewpoint - Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, has filed a Second Amended Petition against Blackbeard Operating, LLC, seeking over $9 million in damages due to alleged improper royalty calculations and payments [1][2]. Group 1: Legal Action Details - The lawsuit pertains to Blackbeard's alleged failure to accurately calculate and pay royalties owed to the Trust, including improper deductions for overhead costs, labor expenses, and saltwater disposal fees [2]. - The claims cover production months from April 2020 to December 2023, with an ongoing audit for the 2024 production months that may reveal additional claims [2][3]. - A trial date has been set for November 17, 2025, with ongoing discovery processes including audits and expert witness analyses [3].