secwatch.observer — SEC 8-K summary
======================================

Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0001193125-23-297599
Event type: other_material
Sentiment:  negative
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Permian Basin Royalty Trust declares $0.106232/unit distribution, down on higher costs
--------------------------------------------------------------------------------

- Distribution of $0.106232/unit payable Jan 16, 2024 to holders of record Dec 29, 2023; decreased from prior month.
- Waddell Ranch Oct production: oil 268,044 bbls at $84.60/bbl, gas 886,479 Mcf at $1.41/Mcf; NPI contributed $3.68M net.
- Texas Royalties Oct production: oil 14,833 bbls at $86.51/bbl, gas 18,418 Mcf at $4.25/Mcf; contributed $1.296M.
- Distribution declined due to ad valorem tax true-up on Waddell Ranch; higher volumes partially offset.
- Trust warns that if current pricing continues, Waddell Ranch may not sustain future distributions given CAPEX budget.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000119312523297599/0001193125-23-297599-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000119312523297599/d526570d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-297599

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer