Permianville Royalty Trust will not pay March distribution; $1.25M shortfall from elevated capex

Permianville Royalty Trust

No monthly distribution for March 2024 (record date Feb 29) due to ~$1.25M shortfall; expenses exceeded cash receipts.
Oil production 34,461 bbls (1,149 bbls/d) at $78.56/bbl; oil cash receipts $2.7M, down $1.5M month-over-month.
Natural gas production 240,007 Mcf (7,742 Mcf/d) at $2.24/Mcf; cash receipts $0.5M, down $0.1M MoM.
Total accrued operating expenses $2.8M (down $0.1M); capital expenditures $2.0M (up $1.4M) from multiple projects.
Shortfall will be deducted from future net profits; no distributions until cumulative shortfall eliminated.

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