---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-055106"
form_type: "8-K"
ticker: "PBT"
cik: "0000319654"
company_name: "PERMIAN BASIN ROYALTY TRUST"
filed_at: "2025-04-17T23:59:59+00:00"
generated_at: "2026-05-23T12:30:56.790610+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Permian Basin Royalty Trust declares $0.019615/unit distribution; no Waddell Ranch proceeds; litigation update

## Summary
- Monthly cash distribution of $0.019615 per unit, payable May 14, 2025 to holders of record April 30, 2025.
- Waddell Ranch contributed nothing; operator Blackbeard refused monthly data, and excess cost position continues.
- Texas Royalty Properties contributed $1,143,639 from 15,292 bbl oil and 8,991 Mcf gas at avg $71.97/bbl and $11.54/Mcf.
- Trust litigation seeks >$25M damages from Blackbeard for improper deductions; trial set for November 17, 2025.
- G&A expenses net of interest were $229,374; total distribution $914,265 on 46,608,796 units outstanding.

## SEC filing metadata
- accession: 0000950170-25-055106
- form_type: 8-K
- ticker: PBT
- cik: 0000319654
- company_name: PERMIAN BASIN ROYALTY TRUST
- filed_at: 2025-04-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319654/000095017025055106/0000950170-25-055106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319654/000095017025055106/2025-04_permian_basin_8-.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-055106
- JSON: https://secwatch.observer/filing/0000950170-25-055106.json
- Plain text: https://secwatch.observer/filing/0000950170-25-055106.txt

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