Permian Basin Royalty Trust declares $0.012976/unit distribution; operator dispute continues

PERMIAN BASIN ROYALTY TRUST

June distribution of $0.012976/unit, payable July 15, 2025; down from prior month due to lower gas volumes and oil pricing.
No proceeds from Waddell Ranch properties included; operator Blackbeard refused to provide monthly data for NPI calculation.
Trustee seeks over $9M in damages in litigation against Blackbeard for improper cost deductions and unpaid royalties; trial set Nov 17, 2025.
Texas Royalty Properties contributed $970,056 net profit; oil avg price $65.46/bbl, gas $9.48/Mcf.
Excess cost position continues on Waddell Ranch; Blackbeard now providing data quarterly, not monthly.

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