Permian Basin Royalty Trust Declares Cash Distribution of $0.010662 per Unit
Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, declared a cash distribution to the holders of its units of beneficial interest of $0.010662 per unit, payable on April 14, 2026, to unit holders of record on March 31, 2026. The distribution does not include proceeds from the Waddell Ranch properties, as total production costs exceeded gross proceeds for the month of February, resulting in a continuing excess cost position for the Waddell Ranch properties. This month's distribution decreased compared to the previous month due primarily to Texas Royalty Properties having lower oil and natural gas volumes, along with lower oil pricing, partially offset by higher natural gas pricing. Information from Blackbeard, the operator of the Waddell Ranch properties, necessary to calculate the net profits interest proceeds for a given month is received after the announcement date for the month's distribution. As a result, in accordance with the Trust indenture, if NPI proceeds are received from the Waddell Ranch properties on or prior to the record date, they will be included in the following month's distribution . As noted above, no proceeds were received by the Trustee in February 2026 to be included in the March distribution. All excess costs, including any accrued interest, will need to be recovered by future proceeds from the Waddell Ranch properties before any proceeds are distributed to the Trust. Due to the fact that Blackbeard provides production, pricing and cost information quarterly instead of monthly, the Trustee will be disclosing that information in the quarterly reports on Form 10-Q and annual reports on Form 10-K for the foreseeable future. Production for the underlying Texas Royalty Properties was 15,009 barrels of oil and 9,793 Mcf of gas. The production for the Trust's allocated portion of the Texas Royalty Properties was 13,047 barrels of oil and 8,518 Mcf of gas. The average price for oil was $56.56 per bbl and for gas was $6.02, which includes significant NGL pricing, per Mcf. This would mainly reflect production and pricing in December for oil and November for gas. These allocated volumes were impacted by the pricing of both oil and gas. This production and pricing for the underlying properties resulted in revenues for the Texas Royalty Properties of $907,884. Deducted from these revenues were taxes and expenses of $124,031 resulting in a Net Profit of $783,853 for February. With the Trust's NPI of 95% of the underlying properties, this would result in a net contribution by the Texas Royalty Properties of $744,660 to this month's distribution. On or about February 10, SoftVest, a unit holder of the Trust, mailed documents to holders of units of beneficial interest which included a cover letter, a Citation in the District Court of Tarrant County, Texas, the Original Petition for Modification of Trust in the District Court of Tarrant County, Texas seeking judicial modification of the Trust's Indenture, and the Petitioner SoftVest, Notice of Bench Trial on Petitioner's Original Petition for Modification of Trust, also collectively known as the "Unitholder Mailing". The Unitholder Mailing advises Unitholders of a hearing to be scheduled Friday, May 8, 2026, at 10:30 a.m. before the 96th District Court of Tarrant County, Tom Vandergriff Civil Courts Building, 4th Floor, 100 North Calhoun Street, Fort Worth, Texas 76196, on the merits of SoftVest's Petition pursuant to which it seeks to amend Section 8.03 of the Indenture to eliminate the requirement that certain amendments require approval by 75% of the outstanding units of the Trust, and delete Section 10.01 of the Indenture that sets forth certain prohibited amendments and replace Article X of the Indenture with a provision permitting amendment of any provision of the Indenture by a vote of unitholders in accordance with Article VIII.
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- Dividend Declaration: Permian Basin Royalty Trust has declared a monthly dividend of $0.0106 per share, indicating the company's resilience in the current market despite operational headwinds.
- Yield Information: The forward yield of this dividend stands at 0.61%, providing investors with a relatively stable return, which reflects the company's attractiveness in an uncertain market.
- Payment Schedule: The dividend is payable on April 14, with a record date of March 31 and an ex-dividend date also on March 31, ensuring shareholders receive their earnings promptly.
- Financial Transparency: Permian Basin Royalty Trust has provided a dividend scorecard and yield chart, enhancing investors' understanding of the company's financial health and bolstering market confidence in its long-term investment value.
- Cash Distribution Announcement: The Permian Basin Royalty Trust declared a cash distribution of $0.010662 per unit, payable on April 14, 2026, to unit holders of record on March 31, 2026, indicating financial pressure under current market conditions.
- Excess Production Costs: The distribution does not include proceeds from the Waddell Ranch properties due to production costs exceeding gross proceeds, reflecting challenges in resource management that may impact future cash flows.
- Texas Oil and Gas Production: Texas Royalty Properties produced 15,009 barrels of oil and 9,793 Mcf of gas, with oil priced at $56.56/bbl, resulting in total revenues of $907,884, highlighting the direct impact of market fluctuations on the company's financials.
- Unitholder Mailing Notification: SoftVest, L.P. mailed documents to unitholders regarding a hearing scheduled for May 8, 2026, seeking modifications to the Trust's Indenture, which may affect governance structures and reflect shareholder concerns over management transparency.
- Cash Distribution Announcement: The Permian Basin Royalty Trust declared a cash distribution of $0.010662 per unit, payable on April 14, 2026, to unit holders of record on March 31, 2026, indicating financial pressure under current market conditions.
- Production Cost Overrun: The distribution does not include proceeds from the Waddell Ranch properties due to production costs exceeding gross proceeds, reflecting challenges in resource management that may impact future cash flows.
- Texas Oil and Gas Production: Texas Royalty Properties produced 15,009 barrels of oil and 9,793 Mcf of gas, with oil priced at $56.56 per barrel, resulting in a net profit of $783,853 for February, highlighting the direct impact of market volatility on revenues.
- Unitholder Mailing Notification: SoftVest, L.P. mailed documents to unit holders regarding a hearing scheduled for May 8, 2026, seeking modifications to the Trust's Indenture, which may affect governance structure and reflects shareholder concerns over management transparency.
- Cash Distribution Announcement: The Permian Basin Royalty Trust declared a cash distribution of $0.013198 per unit, payable on January 15, 2026, reflecting a decrease from the previous month due to production costs exceeding revenues.
- Production Cost Impact: The absence of proceeds from the Waddell Ranch properties indicates ongoing cost pressures, which may adversely affect future distributions and highlight the financial challenges faced by the Trust.
- Oil and Gas Production Data: Texas Royalty Properties reported production of 13,834 barrels of oil and 12,089 Mcf of gas, with oil priced at $60.17 per barrel, resulting in a net profit of $793,696 for the month, illustrating the impact of lower production volumes on overall revenues.
- Shareholder Voting Outcome: At the special meeting on December 16, 2025, approximately 59.9% of unitholders voted in favor of SoftVest's proposal to modify the Trust Indenture, which could streamline future amendments and influence the governance structure of the Trust.
- Cash Distribution Announcement: The Permian Basin Royalty Trust declared a cash distribution of $0.013198 per unit, payable on January 15, 2026, reflecting the inability of Waddell Ranch properties to contribute proceeds due to production costs exceeding revenues.
- Impact of Production Costs: This month's distribution decreased compared to the previous month primarily due to lower oil volumes from Texas Royalty Properties, despite higher natural gas volumes and pricing, indicating direct market volatility effects on distributions.
- Voting Outcome Analysis: At the special meeting held on December 16, 2025, approximately 59.9% of unitholders voted in favor of SoftVest's non-binding proposal, demonstrating strong investor interest in amending the Trust's indenture despite its non-binding nature.
- Uncertain Future Outlook: Ongoing global market conditions continue to affect domestic production pricing, making future distribution predictions increasingly difficult, reflecting potential long-term impacts on the Trust's financial health due to market instability.







