PermRock Royalty Trust Declares Monthly Cash Distribution

Core Points - PermRock Royalty Trust declared a monthly cash distribution of $490,223.49 ($0.040295 per Trust Unit) for record holders as of May 31, 2024, payable on June 14, 2024, based on production in March 2024 [1] Group 1: Financial Performance - Underlying oil sales volumes for the current month were 26,162 barrels, an increase from 23,156 barrels in the prior month, while natural gas sales volumes were 28,443 Mcf, up from 24,949 Mcf [2] - Average received prices for oil increased to $78.88 per barrel from $74.64, while natural gas prices decreased to $3.00 per Mcf from $3.71 [2] - Total oil cash receipts for the current month were $2.06 million, an increase of $0.33 million from the prior month, primarily due to higher oil sales volumes and prices [2] - Natural gas cash receipts remained stable at $0.09 million, unchanged from the prior month [2] Group 2: Operating Expenses - Total direct operating expenses were $0.73 million, a decrease of $0.01 million from the prior month [3] - Severance and ad valorem taxes decreased to $0.09 million, down by $0.05 million due to severance tax reimbursements for qualifying exemptions [3] - Capital expenses were $0.13 million, a decrease of $0.10 million attributed to fewer capital projects [3] Group 3: Trust Structure and Operations - PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC, owning a net profits interest representing 80% of the net profits from oil and natural gas production in the Permian Basin of West Texas [5] - Boaz Energy reserved $184,000 net to the Trust for future capital obligations and expenses in the current month's net profits calculation [4]