Permianville Royalty Trust suspends May distribution; cumulative shortfall reaches $4.5M

Permianville Royalty Trust

No monthly distribution in May 2024 due to $1.9M shortfall in net profits calculation.
Cumulative net profits shortfall now totals ~$4.5M; distributions resume when shortfall eliminated.
Oil production 100,185 bbls at $78.32/bbl; natural gas 354,556 Mcf at $3.09/Mcf.
Capital expenditures surged $6.6M to $8.5M, primarily for 18 new drilling projects.
Sponsor expects Underlying Properties to return to positive net profits later in 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.82

Permianville Royalty Trust reported April 2024 results: revenue $7.8 million for the current month on realized wellhead prices of $78.32/Bbl.

Period: April 2024
Revenue: $7.8 million for the current month on realized wellhead prices of $78.32/Bbl
Result: preliminary results

Exact text from the filing

calculations. Underlying Sales Volumes Average Price Oil Natural Gas Oil Natural Gas Bbls Bbls/D Mcf Mcf/D (per Bbl) (per Mcf) Current Month 100,185 3,232 354,556 11,437 $ 78.32 $ 3.09 Prior Month 31,680 1,022 201,825 6,728 $ 72.37 $ 2.18 Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled

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Source: SEC EDGAR

accession 0001104659-24-049447

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