PermRock Royalty Trust Declares Monthly Cash Distribution

PermRock Royalty Trust, a Delaware statutory trust formed to own a net profits interest from oil and gas production in the Permian Basin of West Texas, has announced a monthly cash distribution. The Trust declared a cash distribution to record holders of its trust units as of November 29, 2024, payable on December 13, 2024. The distribution amount totals $368,269.31, which equates to $0.030271 per Trust Unit. This distribution is primarily based on production figures from September 2024.

According to the press release attached as Exhibit 99.1 to the filing, the Trust reported certain financial figures for the month of September 2024. Oil cash receipts totaled $1.55 million for the current month, reflecting a decrease from the previous distribution period due to lower oil sales prices and volumes. Natural gas cash receipts for the current month reached $0.05 million, showing a slight decrease attributable to reduced natural gas sales prices and volumes.

In terms of expenses, total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were reported at $0.73 million for this distribution period. Notably, severance and ad valorem taxes showed a significant decrease to $(34,876) compared to the prior month. Additionally, capital expenses increased to $0.71 million, primarily due to drilling activities on a non-operated well in the Permian Shelf.

Boaz Energy, the entity providing production details to the Trust, informed of the application of $380,000 net to the Trust from funds previously set aside to cover capital obligations and expenses.

The press release also included a cautionary statement regarding forward-looking statements and certain risks associated with the Trust’s operations. It emphasized the impact of volatile commodity prices, uncertainties in estimating drilling costs, and associated risks with oil and gas operations.

For further information on PermRock Royalty Trust, individuals are directed to visit the Trust’s website at www.permrock.com.

The company’s filings with the Securities and Exchange Commission (SEC) and additional information can be accessed via the SEC’s website at http://www.sec.gov.

This concludes the summary of the recent developments associated with PermRock Royalty Trust’s monthly distribution and financial performance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PermRock Royalty Trust’s 8K filing here.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.