Prnewswireยท2025-06-20 12:00Core Viewpoint - Argent Trust Company declared a cash distribution of $0.012976 per unit for the Permian Basin Royalty Trust, with the distribution affected by production costs exceeding gross proceeds from the Waddell Ranch properties [1][2]. Distribution Summary - The cash distribution decreased compared to the previous month due to lower natural gas volumes and oil pricing, although higher oil volumes and natural gas pricing partially offset these declines [2]. - The total distribution amount is $604,826, distributed among 46,608,796 units outstanding, resulting in a per-unit distribution of $0.012976 [9]. Waddell Ranch Properties - The Trustee has not received necessary information from Blackbeard Operating, LLC to calculate net profits interest (NPI) proceeds for June 2025, which affects the distribution [3][4]. - No proceeds were received from the Waddell Ranch properties in May 2025, and all excess costs must be recovered from future proceeds before any distribution can occur [4]. - Blackbeard is now providing production, pricing, and cost information quarterly instead of monthly, impacting the reporting schedule for the Trust [4][8]. Texas Royalty Properties - Production from Texas Royalty Properties was 16,367 barrels of oil and 9,392 Mcf of gas, with the Trust's allocated portion being 14,430 barrels of oil and 8,278 Mcf of gas [5]. - The average price for oil was $65.46 per barrel and for gas was $9.48 per Mcf, leading to revenues of $1,160,353 after deducting taxes and expenses [5][6]. Legal Matters - The Trustee filed a Second Amended Petition against Blackbeard in connection with a lawsuit regarding alleged improper calculations and payments of royalties, seeking over $9 million in damages [10][11]. - The trial date is set for November 17, 2025, with ongoing discovery related to the case [10].