---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-068313"
form_type: "8-K"
ticker: "PBT"
cik: "0000319654"
company_name: "PERMIAN BASIN ROYALTY TRUST"
filed_at: "2024-06-04T23:59:59+00:00"
generated_at: "2026-06-01T06:38:26.085642+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Permian Basin Royalty Trust receives $2.25M Waddell Ranch proceeds; updates lawsuit against operator for >$15M

## Summary
- Received $2,247,045 in Waddell Ranch proceeds for inclusion in June 2024 distribution.
- Operator Blackbeard did not provide supporting documentation on production or pricing.
- Trustee filed lawsuit seeking >$15M in damages for improper overhead and expense deductions (2020-2022).
- Alleged deductions include incorrect overhead charges, duplicate charges, and other ineligible expenses.
- 2023 Annual Report with Reserve Summary is available on Trust’s website.

## SEC filing metadata
- accession: 0000950170-24-068313
- form_type: 8-K
- ticker: PBT
- cik: 0000319654
- company_name: PERMIAN BASIN ROYALTY TRUST
- filed_at: 2024-06-04T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319654/000095017024068313/0000950170-24-068313-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319654/000095017024068313/2024-06_pbt_8-k_wr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-068313
- JSON: https://secwatch.observer/filing/0000950170-24-068313.json
- Plain text: https://secwatch.observer/filing/0000950170-24-068313.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.