secwatch.observer — SEC 8-K summary
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Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001193125-24-038584
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000119312524038584/0001193125-24-038584-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000119312524038584/d769016d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-038584

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