Permian Basin Royalty Trust settles Blackbeard litigation for $9M, $4.5M due in 30 days

PERMIAN BASIN ROYALTY TRUST

Blackbeard will pay $9,000,000 total; $4.5M within 30 days, $1.125M quarterly in 2026.
Settlement resolves claims that Blackbeard underpaid royalties; trust sought over $9M in damages.
Overhead rate and pass-through charges for salt water disposal, gathering, and technical labor established.
Trust waived future claims for ordinary line loss but retains annual site audit rights.
Trustee expects improved predictability in future royalty calculation and reporting from operator.

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