Permian Basin Royalty Trust announced a cash distribution of $0.043566 per unit payable August 14, 2026, to unitholders of record on July 31, 2026, totaling $2,030,599.85. The distribution excludes proceeds from the Waddell Ranch properties because production costs exceeded gross proceeds for June, creating a continuing excess cost position. The Trustee also disclosed that Blackbeard provides Waddell Ranch information quarterly, so related details will be reported in periodic Form 10-Q/10-K filings when received.

Financial Highlights

  • Declared cash distribution: $0.043566 per unit, payable August 14, 2026.
  • Total distribution amount: $2,030,599.85 to 46,608,796 units outstanding.
  • Net contribution from Texas Royalty Properties to this distribution: $1,375,871.
  • General and administrative expenses (net of interest): $470,271, including a $400,000 increase to the expense reserve for liabilities.
  • Waddell Ranch proceeds excluded from the distribution due to an excess cost position (production costs > gross proceeds) for June 2026.

Business Highlights

  • Texas Royalty Properties production (underlying): 15,307 barrels of oil and 6,545 Mcf of gas; Trust's allocated portion: 13,842 barrels of oil and 5,923 Mcf of gas.
  • Average realized prices for the Texas Royalty Properties: oil $99.90 per barrel and gas $8.61 per Mcf (includes significant NGL pricing); revenues for those properties were $1,585,528 with taxes and expenses of $137,243 yielding a net profit of $1,448,285 for June.
  • Waddell Ranch operator (Blackbeard Operating) provides production, pricing and cost information quarterly; timely receipt will determine inclusion of future NPI proceeds in monthly distributions.
  • Trustee reiterated procedural stance on a proposed business combination described in a Schedule 13D filed by SoftVest: Trustee did not negotiate the term sheet and provided details for informational purposes; any proposed transaction would likely require unitholder approval under the amended indenture.

Original SEC Filing:

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