---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-110012"
form_type: "8-K"
ticker: "PBT"
cik: "0000319654"
company_name: "PERMIAN BASIN ROYALTY TRUST"
filed_at: "2025-08-19T23:59:59+00:00"
generated_at: "2026-05-17T11:37:35.954081+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-110012
- form_type: 8-K
- ticker: PBT
- cik: 0000319654
- company_name: PERMIAN BASIN ROYALTY TRUST
- filed_at: 2025-08-19T23:59:59+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/319654/000095017025110012/0000950170-25-110012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319654/000095017025110012/2025-08_permian_basin_8-.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-110012
- JSON: https://secwatch.observer/filing/0000950170-25-110012.json
- Plain text: https://secwatch.observer/filing/0000950170-25-110012.txt

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