Permian Basin Royalty Trust declares $0.045191/unit October distribution; Waddell Ranch still in excess cost

PERMIAN BASIN ROYALTY TRUST

Distribution of $0.045191 per unit payable Nov 16, 2026 to holders of record Oct 30, 2026; total payout $2,106,330.04 on 46,608,796 units.
October payout rose from the prior month on the final settlement payment from Blackbeard Operating and higher Texas gas volumes/pricing, partly offset by lower oil prices.
No Waddell Ranch proceeds included: September production costs exceeded gross proceeds, and excess costs plus accrued interest must be recovered before any distribution.
Texas Royalty Properties: 13,459 bbl oil at $79.67/bbl and 5,632 Mcf gas at $15.15/Mcf net to the Trust; revenue $1,295,650 less $143,097 taxes/expenses; 95% NPI contributed $1,094,925.
SoftVest/Blackbeard combination into New PBT Land and Minerals, Inc. (agreed July 28, 2026) awaits a unitholder vote; holders of over 15% requested a special meeting; Trustee makes no recommendation.

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