PBT
Permian Basin Royalty Trust16.53
-0.71-4.12%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
770.44MP/E (TTM)
50.09Basic EPS (TTM)
0.33Dividend Yield
0.02%Recent Filings
8-K
PBT cuts distribution; special meeting looms
Permian Basin Royalty Trust declared a $0.020021 per unit cash distribution for October, payable November 17 to holders of record October 31, down from last month due to no Waddell Ranch proceeds amid excess production costs and the absence of a prior Blackbeard settlement. Texas Royalty Properties drove the payout with 14,323 barrels of oil at $65.08 per barrel and 11,709 Mcf of gas at $8.10 per Mcf, netting $972,969 after expenses. SoftVest, holding over 15% of units, called a December 16 special meeting to vote on easing Trust Indenture amendments. Distributions hinge on volatile oil and gas markets.
8-K
PBT announces September distribution
Permian Basin Royalty Trust declared a $0.115493 per unit cash distribution for September, payable October 15 to holders of record September 30, boosted by a $4.5 million first installment from a $9 million settlement with Blackbeard Operating that resolves a royalty dispute. Texas Royalty Properties contributed $934,159 net from 13,944 barrels of oil at $65.76 per barrel and 10,800 Mcf of gas at $6.65 per Mcf, amid higher gas volumes and oil prices but lower oil volumes. Waddell Ranch stays in excess cost position, delaying proceeds. Settlement secures future payments but exposes Trust to market volatility.
8-K
Trust settles royalty dispute
Permian Basin Royalty Trust settled its lawsuit against Blackbeard Operating over underpaid royalties on Waddell Ranch properties, securing $9 million in total payments: $4.5 million within 30 days and four $1.125 million quarterly installments in 2026. The deal clarifies overhead rates, saltwater disposal charges, and technical labor allocations starting November 2024, while barring future claims on ordinary line losses and enabling annual audits. Settlement boosts unitholder value. Yet risks linger from ongoing operations.
8-K
PBT declares modest August payout
Permian Basin Royalty Trust declared an August cash distribution of $0.016418 per unit, payable September 15, 2025, to holders of record August 29, driven by Texas Royalty Properties' higher oil volumes despite lower gas output and prices. Waddell Ranch properties contributed nothing due to excess production costs over gross proceeds, with operator Blackbeard withholding monthly data amid ongoing litigation seeking over $9 million for alleged royalty underpayments from 2020-2023. Blackbeard's quarterly reporting delays distributions. Trial is set for November 17, 2025.
10-Q
Q2 FY2025 results
Permian Basin Royalty Trust's royalty income plunged 65% year-over-year to $3.1M in Q2 2025 ended June 30, driven by a persistent deficit at Waddell Ranch properties that wiped out contributions amid $61.3M in gross capital expenditures, while Texas Royalty properties held steady with $3.1M income at lower oil prices of $68.61 per Bbl versus $78.00 last year. Distributable income fell to $2.4M or $0.05 per unit from $8.4M or $0.18, as expenses doubled to $708K from legal fights with operator Blackbeard. Cash and short-term investments stood at $1.7M, backed by a $1.1M contingency reserve; no debt. Volumes rose at Waddell, but excess costs ballooned to $26.9M net to the Trust. Ongoing litigation risks delayed payments and transparency.
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