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An announcement from Permian Basin ( (PBT) ) is now available.
On May 19, 2026, Argent Trust Company, as trustee of Permian Basin Royalty Trust, disclosed that it had received a Schedule 13D filed by unitholder SoftVest, L.P., outlining a preliminary non-binding term sheet for a potential business combination between the Trust and certain assets of Blackbeard Holdings. The filing describes a contemplated New PubCo that would acquire all Trust assets and operations along with US Land Guild, LLC, which will hold about 66,500 acres of surface estate and a 15% royalty interest, while Blackbeard or its affiliates would receive certain working interests after conversion of the Trust’s net profits interests into a cost-free 15% royalty interest, including those tied to the West Ranch and East Ranch properties.
The Trustee emphasized that neither it nor the Trust participated in negotiating the term sheet, stressing that the announcement is solely for informational purposes and that any transaction would likely require approval by a majority in interest of unitholders under recently court-approved changes to the Trust’s Indenture dated May 8, 2026. The communication underscores that the Trust is not soliciting proxies and that further details, including any potential registration on Form S-4 and related proxy materials, would be led by SoftVest, New PubCo, or other unitholders, signaling a potentially significant structural shift for unitholders if the proposed business combination proceeds.
More about Permian Basin
Permian Basin Royalty Trust is a U.S.-listed royalty trust focused on oil and gas interests, with units trading on the NYSE under the ticker PBT. The Trust holds net profits and royalty interests tied to producing properties, and its cash flows and strategy are closely watched by income-focused unitholders and energy sector investors.
Average Trading Volume: 163,073
Technical Sentiment Signal: Buy
Current Market Cap: $1.35B
For an in-depth examination of PBT stock, go to TipRanks’ Overview page.