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PermRock Royalty Trust Declares Monthly Cash Distribution

On January 21, 2025, PermRock Royalty Trust (NYSE: PRT) announced its upcoming monthly cash distribution slated for record holders of its Trust units as of January 31, 2025. The distribution, amounting to $489,995.26 or $0.040276 per Trust unit, will be payable on February 14, 2025. This financial decision mainly reflects the production metrics recorded during the month of November 2024.

Sales Volume Details

To shed light on the operational performance that drives these distributions, the recent data pertaining to oil and natural gas sales was released:

• - Oil Volumes:

- Current Month: 22,491 barrels
- Prior Month: 24,938 barrels

• - Natural Gas Volumes:

- Current Month: 28,372 Mcf
- Prior Month: 27,951 Mcf

Pricing Trends

The Trust's financial figures demonstrate notable trends in prices as well:

• - Average Price for Oil:

- Current Month: $67.80 per barrel
- Prior Month: $70.24 per barrel

• - Average Price for Natural Gas:

- Current Month: $2.53 per Mcf
- Prior Month: $2.37 per Mcf

Revenue Insights

The reported cash receipts from oil sales at the properties governed by the Trust amounted to $1.52 million, indicating a $0.23 million decline compared to the previous month. This reduction largely stems from both a drop in oil sales prices and volumes. Conversely, cash receipts from natural gas remained relatively stable around $0.07 million.

Operating and Capital Expenses

The total direct operating expenses exhibited a noteworthy increase, summing up to $0.97 million, which is a significant rise of $0.38 million from the previous month. This quick spike indicates heightened marketing, lease operating, and workover expenses. Furthermore, the severance and ad valorem taxes included in this month's net profits calculation were about $0.10 million.

In terms of capital expenditures, they reached $0.05 million, which represents a decrease of $0.06 million in comparison to the prior month's figures. According to Boaz Energy, this downtrend was mainly linked to the conclusion of some recompletion projects at two wells located in the Permian Abo area.

Key Adjustments and Fiscal Health

A noteworthy inclusion for this month’s net profits calculation was the application of $208,000, funds previously reserved by Boaz Energy intended for future capital obligations and expenses. This adjustment reflects a prudent financial maneuver to ensure fiscal health and sustainability within the trust.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust established by Boaz Energy II, LLC. It holds a significant net profits interest, allowing it to receive 80% of net profits derived from oil and natural gas sales from selected properties managed by Boaz Energy within the prolific Permian Basin located in West Texas.

For further details about the Trust and its operations, interested parties are encouraged to visit the official website PermRock Royalty Trust. The Trust also emphasizes a careful approach towards its forward-looking statements, hinting at the inherent market uncertainties and the volatility of commodity prices that could influence its operational results.

As always, stakeholders are advised to consult the Trust's annual filings with the SEC for comprehensive risk factors associated with their captivating investments.