Permian Basin Royalty Trust Announces April 2021 Cash Distribution And 2021 Reserve Quantities
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DALLAS, April 20, 2021 /PRNewswire/ -- Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $0.018156 per unit, payable on May 14, 2021, to unit holders of record on April 30, 2021.
This month's distribution increased slightly from the previous month as the result of increased prices for both oil and gas offset by decreased production on the Waddell Properties due to the end of the February and weather-related outage. The Trust was advised by Blackbeard that the Waddell Ranch properties were in a deficit of $460,647 for the month of February with the deficit increasing to be recovered to $8.0 million in the months to come. The Texas Royalty Properties reflected an increase in both oil and gas production along with an increase in both oil and gas pricing. This reflects the production month of February.