secwatch.observer — SEC 8-K summary
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Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2026-09-18T15:48:23+00:00
Accession:  0001193125-26-395269
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Permian Basin Trust declares $0.0196/unit September distribution; Waddell Ranch remains in excess cost
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- September cash distribution of $0.019593/unit, payable Oct 15, 2026 to holders of record Sept 30; total $913,228 on 46,608,796 units.
- Waddell Ranch contributed no August proceeds; production costs exceeded gross proceeds, extending the excess cost position until recovered from future proceeds.
- Texas Royalty Properties net contribution $1,130,007; oil $83.20/bbl, gas $13.49/Mcf incl NGL; oil volumes down to 13,460 bbl net from 14,405 prior month.
- Monthly distribution rose vs. prior month on lower Trust expenses; G&A expenses net of interest were $216,779.
- SoftVest/Blackbeard Holdings combination into New PBT still requires Unitholder vote; special meeting date not yet set.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000119312526395269/0001193125-26-395269-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000119312526395269/2026-09_permian_basin_8-.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-395269

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