Permian Basin Royalty Trust (NYSE: PBT) announced on September 18, 2026, that it will pay a monthly cash distribution of $0.019593 per unit to unitholders of record on September 30, 2026. The distribution is payable on October 15, 2026.
The distribution amount is derived from the Trust's Texas Royalty Properties, which generated a Net Profit of $1,189,481 for August. After accounting for the Trust's Net Profit Interest (NPI) of 95% on these properties, the contribution to the distribution was $1,130,007. Deducted from the total revenues were taxes and expenses of $135,365, while general and administrative expenses net of interest earned totaled $216,779.
The distribution was calculated based on 46,608,796 units outstanding. The Trustee noted that the distribution increased compared to the previous month, primarily due to a decrease in Trust expenses, though this was partially offset by lower oil and natural gas volumes and oil pricing for Texas Royalty Properties.
The filing also details the status of the Waddell Ranch properties. The operator, Blackbeard Operating, LLC, reported that total production costs exceeded gross proceeds for August, resulting in an excess cost position. Consequently, no proceeds from the Waddell Ranch properties were included in the September distribution. The Trustee stated that all excess costs must be recovered by future proceeds before any distribution can be made from these properties.
Additionally, the filing reports on a proposed business combination. Unitholder SoftVest, L.P. and affiliates entered into a definitive Combination Agreement with Blackbeard Holdings, LLC to create a new publicly traded corporation, PBT Land and Minerals, Inc. SoftVest and other unitholders representing over 15% of the Trust have requested a special meeting to vote on amendments to the Trust Indenture regarding this combination. New PBT has filed a registration statement on Form S-4 and a Form S-1 for a rights offering.
