---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-088223"
form_type: "8-K"
ticker: "PBT"
cik: "0000319654"
company_name: "PERMIAN BASIN ROYALTY TRUST"
filed_at: "2025-06-20T23:59:59+00:00"
generated_at: "2026-05-19T02:06:33.946907+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 $0.012976/unit distribution; operator dispute continues

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-088223
- form_type: 8-K
- ticker: PBT
- cik: 0000319654
- company_name: PERMIAN BASIN ROYALTY TRUST
- filed_at: 2025-06-20T23:59:59+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/319654/000095017025088223/0000950170-25-088223-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319654/000095017025088223/2025-06_permian_basin_8-.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-088223
- JSON: https://secwatch.observer/filing/0000950170-25-088223.json
- Plain text: https://secwatch.observer/filing/0000950170-25-088223.txt

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