Permianville Royalty Trust closes sale of Permian assets; special distribution planned

Permianville Royalty Trust

Sponsor COERT Holdings 1 sold Permian Basin properties for ~$6.5M gross proceeds.
Trust released its 80% net profits interest on divested properties, approved by unitholders July 19.
Special distribution of 50% of Trust's net proceeds to be paid on or before Sep 22, 2023.
Remaining 50% held for post-closing adjustments; final amounts to follow within 90 days.
$250K escrow held for indemnification; any remainder released to Trust within 12 months.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Permianville Royalty Trust terminated Partial Release, Reconveyance and Termination Agreement with COERT Holdings 1, LLC (effective 2023-08-09).

Action: termination
Counterparty: COERT Holdings 1, LLC
Effective: 2023-08-09

Exact text from the filing

̈ Item 1.01 Entry into a Material Definitive Agreement On August 9, 2023, COERT Holdings 1, LLC (the “Sponsor”) and The Bank of New York Mellon Trust Company, N.A., a national association organized under the laws of the State

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Permianville Royalty Trust filing history →

Source: SEC EDGAR

accession 0001104659-23-089363

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