secwatch.observer — SEC 8-K summary
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Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2025-02-18T23:59:59+00:00
Accession:  0000950170-25-022075
Event type: dividend
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Permian Basin Royalty Trust declares $0.017144/unit distribution; Waddell Ranch excess costs persist
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- Cash distribution of $0.017144/unit, payable March 14, 2025 to holders of record Feb 28, 2025; slight decrease from prior month due to lower oil volumes and gas pricing.
- No Waddell Ranch proceeds included; production costs exceeded gross proceeds in January; operator Blackbeard still not providing monthly data.
- Texas Royalty Properties contributed $941,074; oil price $68.37/bbl, gas $8.38/Mcf; allocated volumes 13,469 bbls oil, 8,774 Mcf gas.
- Litigation vs Blackbeard ongoing; trial set Nov 17, 2025; amended petition seeks >$25M in damages for impermissible deductions.
- G&A expenses net interest $141,988; total distribution $799,086 on 46,608,796 units.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000095017025022075/0000950170-25-022075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000095017025022075/2025-02_permian_basin_8-.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-022075

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