PermRock Royalty Trust Announces Cash Distribution for Investors
PermRock Royalty Trust Declares Monthly Cash Distribution
PermRock Royalty Trust (NYSE: PRT) has recently announced a monthly cash distribution to holders of its trust units, confirming their financial commitment to unitholders. The declared amount totals $486,905.16, equating to approximately $0.040022 per trust unit. This distribution is based on the production performance during the preceding month.
Details of the Distribution Announcement
This monthly distribution is set for record holders of trust units as of the cut-off date, and it illustrates the Trust's ongoing efforts to provide reliable returns amidst fluctuating market conditions.
Fiscal Performance Insights
The cash receipts for oil derived from the properties managed by the Trust reached around $1.62 million for this month. However, this marks a slight decrease of $0.07 million compared to the previous month's distribution. The decrease can mainly be attributed to reduced oil sales volumes during the recent period.
On a brighter note, cash receipts from natural gas have witnessed a slight uptick. This month, they totaled approximately $0.10 million, an improvement of $0.02 million, primarily driven by increases in both sales prices and volumes.
Operational Financial Analysis
The Trust also disclosed that total direct operating expenses, including marketing, lease operations, and workover costs, amounted to around $0.71 million. This reflects a marginal rise of $0.01 million when compared to the earlier month's figures. Additionally, severance and ad valorem taxes included within this month’s profit calculations came in at approximately $0.15 million. Capital expenses surged slightly to $0.06 million, showcasing the Trust's commitment to maintaining its operational infrastructure.
Strategic Collaborations
Boaz Energy, the operational partner, communicated that this month's net profits comprised of $144,000 that had been previously set aside to fulfill future capital obligations. This proactive approach indicates a strategic reserve management, ensuring that future expenses are strategically anticipated and covered.
About PermRock Royalty Trust
PermRock Royalty Trust is a Delaware statutory entity formed by Boaz Energy II, LLC, to own a net profits interest. This ownership allows it to receive 80% of net profits generated from oil and natural gas produced from specific properties managed by Boaz Energy, especially located in the resource-rich Permian Basin in West Texas. This arrangement provides a stable framework for unitholders while tapping into the expansive energy reserves of the area.
Frequently Asked Questions
What is the amount of the recent cash distribution declared by PermRock Royalty Trust?
The recent cash distribution declared by PermRock Royalty Trust amounts to $486,905.16, or $0.040022 per trust unit.
When will the cash distribution be payable?
The cash distribution is payable to record holders of trust units effective April 14.
How often does PermRock Royalty Trust declare distributions?
PermRock Royalty Trust typically declares distributions on a monthly basis, reflecting their ongoing commitment to their unitholders.
What factors influence the cash receipts reported by the Trust?
Cash receipts for the Trust are influenced primarily by production volumes of oil and natural gas, market prices, and the operational expenses associated with managing these resources.
Where can investors find more information about PermRock Royalty Trust?
Investors can learn more about PermRock Royalty Trust through their official website, which provides valuable insights into their operations and financial updates.
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