secwatch.observer — SEC 8-K summary
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Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2025-06-20T23:59:59+00:00
Accession:  0000950170-25-088223
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000095017025088223/0000950170-25-088223-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000095017025088223/2025-06_permian_basin_8-.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-088223

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