Permian Basin Royalty Trust declares reduced monthly cash distribution

Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, declared a cash distribution to the holders of its units of beneficial interest of 3.6797c per unit, payable on February 14 to unit holders of record on January 31. This month’s distribution decreased from the previous month as the result of primarily a decrease in pricing for both oil and gas for the Waddell Ranch and Texas Royalty Properties during the month of November. Also, a decrease in CAPEX for the Waddell Ranch as year-end activity to complete the 2022 budgeted projects increased the amount of NPI for the month of November.