Permian Basin Royalty Trust declares $0.04546/unit distribution; sues Blackbeard for >$15M

PERMIAN BASIN ROYALTY TRUST

Cash distribution of $0.045460 per unit, payable Mar 14, 2024 to holders of record Feb 29, 2024.
Waddell Ranch: oil 252,265 bbls at $70.25, gas 861,361 Mcf at $0.93; CAPEX $9.6M gross.
Texas Royalty: oil 17,227 bbls at $73.43, gas 9,520 Mcf at $7.93; NPI contributed $1.13M.
Trust filed lawsuit against Blackbeard Operating seeking >$15M in damages for alleged royalty underpayment.
Management warns if oil/gas pricing continues or declines, Waddell Ranch may not sustain future distributions.

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