PBT declares $0.0164/unit distribution; Waddell Ranch excess cost; operator Blackbeard sued for $9M+

PERMIAN BASIN ROYALTY TRUST

Cash distribution $0.016418/unit payable Sept 15, 2025 to holders of record Aug 29, 2025.
Waddell Ranch properties in excess cost position for July; no proceeds included in August distribution.
Texas Royalty Properties contributed $922,651: oil 14,645 bbls at $62.02/bbl, gas 8,742 Mcf at $7.53/Mcf.
Trustee's Second Amended Petition seeks >$9M in damages from Blackbeard for improper cost deductions; trial Nov 17, 2025.
Blackbeard refuses monthly data, will provide only quarterly; litigation ongoing.

item 2.02item 9.01

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