---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-275228"
form_type: "8-K"
ticker: "PBT"
cik: "0000319654"
company_name: "PERMIAN BASIN ROYALTY TRUST"
filed_at: "2026-06-18T14:50:29+00:00"
generated_at: "2026-06-18T14:51:14.395943+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Permian Basin Trust declares $0.024673/unit; SoftVest proposes business combination with Blackbeard Holdings

## Summary
- Cash distribution of $0.024673/unit payable July 15, 2026 to holders of record June 30, 2026; no proceeds from Waddell Ranch due to excess costs.
- Texas Royalty Properties contributed $1,285,932 to distribution; oil volumes 14,577 bbls at $88.42/bbl, gas 6,972 Mcf at $9.50/Mcf.
- SoftVest and Blackbeard Holdings have preliminary non-binding term sheet for business combination forming New PubCo; Trustee not involved.
- Proposed deal would require approval of majority of Trust unitholders; Trustee anticipates unitholder meeting.

## SEC filing metadata
- accession: 0001193125-26-275228
- form_type: 8-K
- ticker: PBT
- cik: 0000319654
- company_name: PERMIAN BASIN ROYALTY TRUST
- filed_at: 2026-06-18T14:50:29+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319654/000119312526275228/0001193125-26-275228-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319654/000119312526275228/2026-06_permian_basin_8-.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-275228
- JSON: https://secwatch.observer/filing/0001193125-26-275228.json
- Plain text: https://secwatch.observer/filing/0001193125-26-275228.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.