- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- Simmons Bank, Trustee Dallas TX United States of America 76147
- IPO Date
- May 2, 2018
- Business
- PermRock Royalty Trust (NYSE: PRT) operates as a Delaware statutory trust that owns an 80% net profits interest in oil and natural gas producing properties located in the Permian Basin of West Texas, including overriding royalty interests, fee mineral interests, and net profits interests in crude oil, natural gas, and natural gas liquids production from approximately 22,394 net acres primarily in Reeves and Loving counties in the Delaware Basin and other areas such as the Permian Shelf and Crane County; the Trust collects monthly net proceeds from these interests, deducts administrative expenses and cash reserves, and distributes the remaining cash flow to unitholders on a monthly basis. The Trust does not engage in drilling, operations, or development activities, relying instead on third-party operators for production from the underlying properties. Established in 2017 by Boaz Energy II, LLC as Trustor with Argent Trust Company as Trustee (effective December 30, 2022) and Wilmington Trust, National Association as Delaware Trustee, headquartered at 3838 Oak Lawn Avenue, Suite 1720, Dallas, Texas, the Trust targets investors seeking passive exposure to Permian Basin royalty income streams without operational risk. In a major development, Boaz Energy and Boaz Energy II Royalty, LLC sold the underlying properties to T2S Permian Acquisition II LLC (T2S) via a Purchase and Sale Agreement announced January 10, 2025, and closed on March 31, 2025, with T2S assuming operations as successor-in-interest and revising the 2025 development plan to defer certain drilling in Crane County amid commodity price volatility while advancing workovers, waterflood optimization, shut-in well reactivations, and a non-operated well in the Permian Shelf completed in Q3 2025. The Trust continues monthly cash distributions, including $0.031565 per unit declared November 17, 2025, based on August 2025 production, reflecting ongoing focus on net profits distribution under T2S management.