secwatch.observer — SEC 8-K summary
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Issuer:     PERMIAN BASIN ROYALTY TRUST (PBT)
CIK:        0000319654
Form:       8-K
Filed at:   2026-10-20T15:06:50+00:00
Accession:  0001193125-26-426034
Event type: dividend
Sentiment:  neutral
Materiality: 0.45
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319654/000119312526426034/0001193125-26-426034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319654/000119312526426034/2026-10_permian_basin_8-.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-426034

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