Prnewswire·2025-12-19 13:00Core Viewpoint - Argent Trust Company declared a cash distribution of $0.013198 per unit for the Permian Basin Royalty Trust, payable on January 15, 2026, with a record date of December 31, 2025. The distribution does not include proceeds from the Waddell Ranch properties due to production costs exceeding gross proceeds for November 2025 [1][4]. Distribution Summary - The current month's distribution decreased compared to the previous month primarily due to lower oil volumes and pricing from Texas Royalty Properties, partially offset by higher natural gas volumes and pricing [2]. - The total distribution for the month amounted to $615,176, distributed among 46,608,796 units outstanding, resulting in a per unit distribution of $0.013198 [8]. Production Details - Production from Texas Royalty Properties was reported at 13,834 barrels of oil and 12,089 Mcf of gas, with the Trust's allocated portion being 11,957 barrels of oil and 10,456 Mcf of gas. The average price for oil was $60.17 per barrel and for gas was $8.32 per Mcf [5][6]. - Revenues from Texas Royalty Properties totaled $933,086, with taxes and expenses of $139,390 deducted, leading to a net profit of $793,696 for November. The Trust's net profit interest (NPI) of 95% resulted in a net contribution of $754,012 to the distribution [5][6]. Waddell Ranch Properties - No proceeds were received from the Waddell Ranch properties for November 2025, and all excess costs must be recovered by future proceeds before any distribution can occur. Information regarding production and pricing will be disclosed in quarterly and annual reports due to the operator's reporting schedule [3][4]. Special Meeting Outcomes - A special meeting held on December 16, 2025, resulted in approximately 59.9% of outstanding Trust units voting in favor of a non-binding proposal by SoftVest Advisors to seek judicial reformation of the Trust's Indenture, allowing for amendments to be approved by a simple majority [9].