secwatch.observer — SEC 8-K summary
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Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2026-05-18T15:59:04+00:00
Accession:  0001193125-26-228381
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Permian Basin Royalty Trust declares $0.020355/unit distribution; Waddell Ranch in excess cost; court modifies indenture
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- Cash distribution $0.020355/unit payable June 12, 2026 to holders of record May 29, 2026.
- Waddell Ranch properties in excess cost position; no proceeds included for second consecutive month.
- Texas Royalty Properties contributed $998,283; oil at $73.83/bbl, gas $9.23/Mcf.
- Court approved SoftVest petition lowering amendment threshold from 75% to majority; eliminates prohibited amendment section.
- Distribution decreased due to third settlement payment from Blackbeard ($1.125M) included in prior month.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000119312526228381/0001193125-26-228381-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000119312526228381/2026-05_permian_basin_8-.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-228381

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