Permian Basin Royalty Trust declares $0.015311/unit distribution; operator dispute continues

PERMIAN BASIN ROYALTY TRUST

Distribution of $0.015311/unit payable Aug 14 to holders of record July 31; no Waddell Ranch proceeds included.
Waddell Ranch remains in excess cost position; operator Blackbeard refuses to provide monthly NPI data.
Trust litigation vs Blackbeard seeks >$9M in damages for improper cost deductions and underpaid royalties; trial set Nov 17, 2025.
Texas Royalty Properties contributed $901,654 to distribution; oil $68.37/bbl, gas $11.75/Mcf (incl. NGLs).
General & admin expenses net of interest $188,020; 46.6M units outstanding.

item 2.02item 9.01

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