DALLAS, July 21, 2025 /PRNewswire/ -- Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian" or the "Trust") today declared a cash distribution to the holders of its units of beneficial interest of $0.015311 per unit, payable on August 14, 2025, to unit holders of record on July 31, 2025. The distribution does not include proceeds from the Waddell Ranch properties, as total production costs ("Production Costs") exceeded gross proceeds ("Gross Proceeds") for the month of M ...

Core 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].