DALLAS, Dec. 19, 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 $0.013198 per unit, payable on January 15, 2026, to unit holders of record on December 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 ...

Core Viewpoint - Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, announced a cash distribution of $0.019233 per unit, which reflects a decrease from the previous month due to lower natural gas volumes and prices, despite slightly higher oil volumes [1][2]. Distribution Details - The cash distribution is payable on December 12, 2025, to unit holders of record on November 28, 2025 [1]. - The distribution does not include proceeds from the Waddell Ranch properties, as production costs exceeded gross proceeds for September, leading to a continuing excess cost position [1][4]. Production and Revenue Insights - Production from Texas Royalty Properties was 16,337 barrels of oil and 10,723 Mcf of gas, with the Trust's allocated portion being 14,356 barrels of oil and 9,425 Mcf of gas [5]. - The average price for oil was $63.38 per barrel and for gas was $7.10 per Mcf, resulting in revenues of $1,111,632 for the Texas Royalty Properties after deducting taxes and expenses of $137,663, leading to a net profit of $973,969 for October [5][8]. Waddell Ranch Properties - No proceeds were received from the Waddell Ranch properties in October 2025 for inclusion in the November distribution, and all excess costs must be recovered by future proceeds before any distribution can occur [4][3]. - Blackbeard, the operator of the Waddell Ranch properties, provides production and pricing information quarterly, which will be disclosed in the Trust's quarterly and annual reports [4][7]. Special Meeting Announcement - A special meeting has been called for December 16, 2025, at the request of SoftVest Advisors, LLC and other unit holders, to vote on a proposal for judicial reformation of the Trust's Indenture [9]. - The Trustee intends to call the special meeting, with further details to be provided in a notice to unit holders [9].