Permian Basin Royalty Trust
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- Permian Basin Royalty Trust (NYSE: PBT) is an express grantor trust that holds overriding royalty interests in oil and natural gas properties located exclusively in Texas. The Trust's principal assets consist of a 75% net overriding royalty interest in the Waddell Ranch properties, comprising the Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian), and Waddell fields in Crane County; and a 95% net overriding royalty interest in the Texas Royalty properties, encompassing approximately 125 separate royalty interests across fields such as Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, Panhandle Regular, N. Cowden, Todd, Keystone, Kermit, McElroy, Howard-Glasscock, Seminole, and others situated in 33 counties and covering about 51,000 net producing acres. The Trust collects net proceeds from these royalties, deducts administrative expenses, and distributes the remaining income monthly to holders of its units of beneficial interest, with no operational involvement in exploration, development, or production activities conducted by third-party operators. Founded in 1980 pursuant to conveyances from Southland Royalty Company and headquartered in Dallas, Texas, the Trust operates within the upstream oil and natural gas sector, targeting passive income generation for unitholders from mature producing properties in the prolific Permian Basin and other Texas regions. Operators of the Underlying Properties have changed over time, with Burlington Resources Oil & Gas Company LP (BROG), a ConocoPhillips subsidiary, managing the Texas Royalty properties; and Blackbeard Operating, LLC assuming operations of the Waddell Ranch properties effective April 1, 2020, following its acquisition from BROG in November 2019. Recent developments include ongoing litigation against Blackbeard Operating, with the Trust pursuing over $9 million in damages for alleged improper royalty calculations from April 2020 through December 2023; trial is scheduled for November 17, 2025, amid joint venture audits of 2024 production. In September 2025, the Trust received a $4.5 million partial settlement payment as the first installment of a $9 million lawsuit resolution with Blackbeard, contributing to the October 2025 cash distribution of $0.115493 per unit, though Waddell Ranch properties reported excess working interest costs leading to no royalty income in Q3 2025. Additionally, SoftVest Advisors, LLC, holding over 15% of units with aligned unitholders, requested a special meeting on December 16, 2025 (record date November 11, 2025) to vote on proposed Trust Indenture amendments, as announced in October 2025. Horizon Kinetics Asset Management LLC increased its stake by 41.25% in July 2025 through the acquisition of 1.7 million units.
Company News
PERMIAN BASIN ROYALTY TRUST ANNOUNCES OCTOBER CASH DISTRIBUTION AND EXCESS COST POSITION ON WADDELL RANCH PROPERTIES
Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Down – What’s Next?
A $2.2 Billion Texas Minerals Platform Will Control 111,000 Royalty Acres. Social Security Draws a Line Between Owning the Royalty and Working the Well
Contrasting Permian Basin Royalty Trust (NYSE:PBT) & ExxonMobil (NYSE:XOM)
Permian Basin Royalty Trust (PBT) Stock Up 3.7% but GF Value Says Overvalued -- GF Score: 66/100
PBT Land and Minerals Announces Record Date and Subscription Price for Rights Offering
PERMIAN BASIN ROYALTY TRUST ANNOUNCES SEPTEMBER CASH DISTRIBUTION AND EXCESS COST POSITION ON WADDELL RANCH PROPERTIES
PERMIAN BASIN ROYALTY TRUST ANNOUNCES AUGUST CASH DISTRIBUTION AND EXCESS COST POSITION ON WADDELL RANCH PROPERTIES
Permian Basin Royalty Trust (NYSE:PBT) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?
PERMIAN BASIN ROYALTY TRUST ANNOUNCES NOTICE OF COMBINATION AGREEMENT BETWEEN SOFTVEST AND BLACKBEARD WITH RESPECT TO THE TRUST
PERMIAN BASIN ROYALTY TRUST ANNOUNCES NOTICE OF COMBINATION AGREEMENT BETWEEN SOFTVEST AND BLACKBEARD WITH RESPECT TO THE TRUST
PERMIAN BASIN ROYALTY TRUST ANNOUNCES JULY CASH DISTRIBUTION AND EXCESS COST POSITION ON WADDELL RANCH PROPERTIES
PERMIAN BASIN ROYALTY TRUST ANNOUNCES JUNE CASH DISTRIBUTION, EXCESS COST POSITION ON WADDELL RANCH PROPERTIES, AND SOFTVEST PROPOSAL
Permian Basin Royalty Trust (PBT) Shares Fall 3.3% -- GF Value Says Still Overvalued
Is Permian Basin Royalty Trust (PBT) Overvalued After 6.5% Rally? GF Value Says Overvalued
Is Permian Basin Royalty Trust (PBT) Overvalued After 3.4% Rally? GF Value Says Overvalued
PERMIAN BASIN ROYALTY TRUST ANNOUNCES RECEIPT OF SOFTVEST SCHEDULE 13D WITH RESPECT TO PROPOSED BUSINESS COMBINATION
SoftVest and Blackbeard Holdings Announce Proposed Business Combination with Permian Basin Royalty Trust
PERMIAN BASIN ROYALTY TRUST ANNOUNCES MAY CASH DISTRIBUTION, EXCESS COST POSITION ON WADDELL RANCH PROPERTIES, AND RESULTS OF HEARING
PERMIAN BASIN ROYALTY TRUST ANNOUNCES RESULTS OF SOFTVEST HEARING REQUESTING MODIFICATION OF TRUST INDENTURE