Permian Basin Royalty Trust declares $0.044388/unit May distribution (up MoM)

PERMIAN BASIN ROYALTY TRUST

May cash distribution of $0.044388/unit, payable June 14, 2023 to holders of record May 31.
Waddell Ranch oil production 242,702 bbl at $71.07/bbl; gas 807,905 Mcf at $1.35/Mcf (March).
Texas Royalties contributed $1.12M to distribution; oil at $72.21/bbl, gas at $4.42/Mcf.
2023 capex budget revised to $96.8M net to Trust, with ~30.75 new drills and 45 recompletions.
Estimated remaining life of Trust: ~15 years based on Jan 1, 2023 reserve report.

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