---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-426034"
form_type: "8-K"
ticker: "PBT"
cik: "0000319654"
company_name: "PERMIAN BASIN ROYALTY TRUST"
filed_at: "2026-10-20T15:06:50+00:00"
generated_at: "2026-10-20T15:08:04.452232+00:00"
event_type: "dividend"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-426034
- form_type: 8-K
- ticker: PBT
- cik: 0000319654
- company_name: PERMIAN BASIN ROYALTY TRUST
- filed_at: 2026-10-20T15:06:50+00:00
- event_type: dividend
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319654/000119312526426034/0001193125-26-426034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319654/000119312526426034/2026-10_permian_basin_8-.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-426034
- JSON: https://secwatch.observer/filing/0001193125-26-426034.json
- Plain text: https://secwatch.observer/filing/0001193125-26-426034.txt

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