Permian Basin Royalty Trust Declares September Distribution

The distribution reflects a decrease in trust expenses, which helped offset lower oil volumes and softer pricing within the Texas portfolio. For August, the Texas properties generated a net profit of $1,189,481, with the trust’s 95% interest contributing $1,130,007 to the final pool. No revenue was funneled from Waddell Ranch, as production costs exceeded gross proceeds. Under the current operating agreement, any excess costs must be cleared by future earnings before distributions from that specific asset can resume.

Separately, the trust remains the subject of a proposed business combination initiated by SoftVest, L.P. The proposal seeks to merge the trust's assets with those of Blackbeard Holdings to form a new entity, PBT Land and Minerals, Inc. While SoftVest has moved to trigger a special meeting of unitholders to consider the plan, the current trustee, Argent Trust Company, has taken a neutral stance. The trustee is not participating in the solicitation of proxies or the proposed rights offering, leaving the decision on the corporate restructuring entirely to the unitholders.