Monthly Distribution Announcement from PermRock Royalty Trust
PermRock Royalty Trust Announces Monthly Cash Distribution
PermRock Royalty Trust (NYSE: PRT) has declared a monthly cash distribution that is sure to catch the attention of its trust unit holders. This distribution, amounting to $378,834.64 or approximately $0.031139 per Trust Unit, is based on the production results from July and will be payable to record holders of trust units by mid-October.
Highlights of Recent Performance
The trust experienced notable increases in oil sales, totalling $1.38 million for the current month. This increase of $0.13 million over the previous month can be attributed to rising oil prices and enhanced sales volumes. These results showcase the trust's commitment to delivering value to its unitholders and highlight the resilience of the team's efforts amidst varying market conditions.
Navigating Market Dynamics
On the natural gas front, cash receipts yielded approximately $0.06 million, with this figure remaining stable as a result of price increases balancing out decreased sales volumes. The management's strategic focus on balancing production costs with market price fluctuations has been vital in sustaining profitability.
Direct Operating Expenses
This month, total direct operating expenses recorded a decline to $0.43 million. The team remains efficient in managing operational costs while maximizing revenue potential. A noteworthy aspect is the reserved funds that have been set aside to cover anticipated costs associated with workover programs planned in the upcoming quarter, ensuring that the Trust is well-prepared to tackle future operational challenges.
Adjustments and Corrections
It is essential to note that previous press releases contained minor inaccuracies regarding operating expenses. However, these corrections did not affect the overall distribution to the unitholders. Transparency remains a priority for the Trust, and accurate reporting is crucial in maintaining investor confidence and trust.
About PermRock Royalty Trust
PermRock Royalty Trust is a Delaware statutory trust established to capture a net profits interest. The Trust is focused on generating returns by securing net profits from oil and natural gas production ventures managed by T2S in the prolific Permian Basin. With a firm commitment to operational excellence, PermRock aims to uphold its reputation as a reliable investment partner.
Frequently Asked Questions
What is the amount of the monthly distribution declared by PermRock Royalty Trust?
The monthly distribution declared is $378,834.64, or approximately $0.031139 per Trust Unit.
When will the distribution be payable to unitholders?
The distribution will be payable on October 15 to record holders of the trust units.
How have operational expenses changed recently for the Trust?
Total direct operating expenses have decreased to $0.43 million compared to the previous month, showcasing efficient management.
What contributed to the increase in oil cash receipts this month?
The increase in oil cash receipts was primarily due to rising oil prices and improved sales volumes during the month.
Where can I find more information about PermRock Royalty Trust?
For more information regarding PermRock Royalty Trust, you can visit their official website at www.permrock.com.
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