PermRock Royalty Trust, represented by the Argent Trust Company as Trustee, recently announced a monthly cash distribution to record holders of its trust units. This distribution is payable to those holding beneficial interests in the Trust as of January 31, 2025, with the payment scheduled for February 14, 2025. The total amount to be distributed is $489,995.26, equating to $0.040276 per Trust Unit. These figures are based predominantly on production levels during November 2024.
The Trust disclosed this information through a press release issued on January 21, 2025, with additional details provided in the attached Exhibit 99.1 of the SEC filing. According to the document, the distribution is part of the ongoing operational activities and financial commitments of PermRock Royalty Trust.
A breakdown of the net profits indicated that the oil cash receipts totaled $1.52 million for the current month, reflecting a decrease compared to the prior month. Similarly, natural gas cash receipts stayed relatively constant. Direct operating expenses, such as marketing and lease operating expenses, showed an increase, while capital expenses decreased due to the completion of certain projects.
Boaz Energy, the entity responsible for operations in the Permian Basin of West Texas, reported specifics related to the net profits calculation, including the allocation of funds toward future capital obligations and expenses. PermRock Royalty Trust, established as a Delaware statutory trust by Boaz Energy, owns a significant interest in the net profits generated from oil and gas production on designated properties.
The Trust also provided a cautionary statement concerning forward-looking statements, highlighting the uncertainties inherent in the industry given the volatility in commodity prices and other operational risks.
For further updates and information regarding PermRock Royalty Trust, individuals are encouraged to visit the company’s official website at www.permrock.com.
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.
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