Permian Basin Royalty Trust Announces January Cash Distribution, Payable on February 14, 2020
January 21, 2020 at 09:30 am
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Simmons Bank, as Trustee of the Permian Basin Royalty Trust (Permian) declared a cash distribution to the holders of its units of beneficial interest of $0.043114 per unit, payable on February 14, 2020, to unit holders of record on January 31, 2020. This month's distribution increased from the previous month due primarily to an increase in the pricing for oil production offset by a decrease in production for both oil and gas and a decrease in the pricing of gas on the Waddell Ranch.
Permian Basin Royalty Trust is an express trust. Its Waddell Ranch Properties has mineral interests in the Waddell Ranch. Its Waddell Ranch Properties have proved reserves in six fields: Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell. The Waddell Ranch properties contain approximately 1,067 gross (499 net) productive oil wells and 108 gross (51 net) productive gas wells. The Blackbeard Operating, LLC is an operator of record of the Waddell Ranch properties. In the six fields, there are 12 producing zones ranging in depth from 2,800 to 10,600 feet. The prolific of these zones are the Grayburg and San Andres, which produce from depths between 2,800 and 3,400 feet. Also productive from San Andres are the Sand Hills gas field and the Sand Hills oil field, the Dune (Grayburg/San Andres) oil field, and the Waddell oil field. The Dune and Waddell oil fields are productive from both the Grayburg and San Andres formations.
PERMIAN BASIN ROYALTY TRUST 
