Permianville Royalty Trust reports ~$1.2M net profits shortfall; no December distribution

Permianville Royalty Trust

No monthly distribution payable in Dec 2023 to unitholders of record Nov 30, 2023 due to shortfall.
Capital expenditures surged $1.9M to $2.0M, primarily from drilling projects on underlying properties.
Oil sales volumes 36,086 Bbls at $78.95/Bbl; natural gas 227,059 Mcf at $2.33/Mcf.
Cumulative shortfall will be deducted from future net profits until eliminated.
Sponsor expects underlying properties to return to positive net profits by early 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Permianville Royalty Trust reported monthly net profits interest calculation for November 2023 results: revenue $2.8 million.

Period: monthly net profits interest calculation for November 2023
Revenue: $2.8 million
Result: reported results

Exact text from the filing

2.33 Prior Month 33,461 1,079 222,906 7,430 $ 73.07 $ 2.02 Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $2.8 million for the current month on realized wellhead prices of $78.95/Bbl, up $0.4 million from the prior month’s oil cash receipts. Recorded natural gas cash receipts from the Underlying

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Source: SEC EDGAR

accession 0001104659-23-119520

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