---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-097090"
form_type: "8-K"
ticker: "PBT"
cik: "0000319654"
company_name: "PERMIAN BASIN ROYALTY TRUST"
filed_at: "2025-07-21T23:59:59+00:00"
generated_at: "2026-05-18T05:23:09.525893+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-097090
- form_type: 8-K
- ticker: PBT
- cik: 0000319654
- company_name: PERMIAN BASIN ROYALTY TRUST
- filed_at: 2025-07-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319654/000095017025097090/0000950170-25-097090-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319654/000095017025097090/2025-07_permian_basin_8-.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-097090
- JSON: https://secwatch.observer/filing/0000950170-25-097090.json
- Plain text: https://secwatch.observer/filing/0000950170-25-097090.txt

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