Corporate GovernanceMay 18, 2026, 12:02 PM
Permian Basin Royalty Trust Declares $0.020355/Unit Distribution; Indenture Modified
AI Summary
Permian Basin Royalty Trust declared a cash distribution of $0.020355 per unit, payable on June 12, 2026, to unitholders of record on May 29, 2026. This distribution decreased from the prior month, primarily due to a previous settlement payment. The Waddell Ranch properties did not contribute proceeds due to excess costs, while the Texas Royalty Properties contributed $998,283. Additionally, a court approved SoftVest's petition to modify the Trust's Indenture, eliminating the 75% approval requirement for certain amendments and allowing amendments by a majority of unitholders with a quorum.
Key Highlights
- Declared a cash distribution of $0.020355 per unit.
- Distribution payable on June 12, 2026, to record holders on May 29, 2026.
- Waddell Ranch properties had no proceeds for April due to continuing excess costs.
- Texas Royalty Properties contributed $998,283 to the distribution.
- Texas Royalty Properties oil production was 15,079 barrels (underlying) at $73.83/bbl.
- Texas Royalty Properties gas production was 8,081 Mcf (underlying) at $9.23/Mcf.
- Court approved SoftVest's petition to modify the Trust's Indenture.
- Indenture modification allows amendments by a majority of unitholders with a quorum.
Price Impact
More from PBT