Permian Basin Trust distributes $0.02051/unit for Dec; Waddell excess costs continue; litigation seeks >$25M

PERMIAN BASIN ROYALTY TRUST

Distribution of $0.02051/unit payable Feb 14, 2025 to holders of record Jan 31, 2025, down slightly from prior month due to lower oil volumes and prices.
No proceeds from Waddell Ranch properties in December; excess cost position of $4.99M (net $3.74M) as of October must be recovered before future distributions.
Trustee's litigation against operator Blackbeard seeks >$25M damages; trial set Nov 17, 2025; discovery ongoing.
Texas Royalty Properties net profit $1.09M; Trust's 95% NPI contributed $1.03M to distribution; oil $67.69/bbl, gas $9.56/Mcf.

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