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DALLAS - The Permian Basin Royalty Trust (NYSE:PBT), managed by Argent Trust Company, has declared a cash distribution of $0.019615 per unit for April, scheduled for payment on May 14, 2025, to unit holders of record as of April 30, 2025. According to InvestingPro data, PBT has maintained dividend payments for 45 consecutive years, with a current dividend yield of 2.25%. The distribution reflects a slight increase from the previous month, attributable to higher oil volumes and pricing from the Texas Royalty Properties, though partially offset by a decrease in natural gas volumes.
The trust’s distribution does not include proceeds from the Waddell Ranch properties for March, as production costs there surpassed the gross proceeds, maintaining an excess cost position. Blackbeard, the operator of the Waddell Ranch properties, has not provided the necessary information to calculate net profits interest for April, a deviation from its past practice of monthly updates. Consequently, the Trustee will now report on the Waddell Ranch properties quarterly in its SEC filings, provided the information is received in time from Blackbeard.
For the underlying Texas Royalty Properties, oil production totaled 17,157 barrels, and gas production was 10,093 Mcf. The Trust’s net share amounted to 15,292 barrels of oil and 8,991 Mcf of gas, with average prices of $71.97 per barrel and $11.54 per Mcf, respectively. These figures resulted in a net profit of $1,203,830 for April from these properties, contributing $1,143,639 to the month’s distribution after accounting for the Trust’s 95% net profit interest. With a market capitalization of $447.91 million and impressive gross profit margins of 100%, InvestingPro analysis shows the Trust maintains strong financial health with a robust current ratio of 2.08.
The Trustee has also disclosed ongoing litigation with Blackbeard Operating, LLC, concerning disputed royalty payment deductions. The Trustee is seeking recovery of over $25 million in damages. The trial is set for November 17, 2025, with discovery, including audits and expert analyses, currently underway.
Market conditions continue to influence domestic production pricing, with future distribution effects remaining uncertain. This announcement is based on a press release statement from the Permian Basin Royalty Trust. InvestingPro analysis indicates PBT is currently trading near its Fair Value, with additional insights and financial metrics available to subscribers. Unlock 6 more exclusive ProTips and comprehensive financial analysis tools to make more informed investment decisions.
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