secwatch.observer — SEC 8-K summary
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Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2024-05-20T23:59:59+00:00
Accession:  0000950170-24-062500
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PBT declares $0.020052/unit distribution, omits Waddell Ranch; sues Blackbeard for >$15M
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- Cash distribution of $0.020052/unit, payable June 14, 2024 to holders of record May 31, 2024.
- Waddell Ranch proceeds omitted because operator Blackbeard refused to provide NPI calculation data; may be included in June distribution.
- Trustee filed lawsuit against Blackbeard on May 8, 2024 seeking >$15M in damages for improper overhead and expense deductions from 2020-2022.
- Texas Royalty Properties: oil price $78.00/bbl, gas $11.16/Mcf; net production 14,569 bbls oil and 6,865 Mcf gas.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000095017024062500/0000950170-24-062500-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000095017024062500/2024-05_pbt_8-k_template.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-062500

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer