PermRock Royalty Trust Announces Monthly Distribution Details
PermRock Royalty Trust Declares Monthly Cash Distribution
PermRock Royalty Trust (NYSE: PRT) has announced its latest monthly cash distribution to unit holders of its trust units. As of the end of a specific month, these distributions reflect the Trust's performance in the prior month. The amount of distribution declared is $371,192.79, translating to approximately $0.030511 per trust unit, drawn primarily from oil and gas production activities.
Financial Performance Overview
The Trust's revenue from oil cash receipts totaled $1.49 million this distribution period. This represents a slight decline of $0.01 million compared to the previous month. The reduction can be attributed to fluctuations in oil sales prices in the market.
For natural gas, the receipts during this phase amounted to $0.08 million, which is down $0.03 million from the earlier month. It was noted that a decrease in natural gas sales volumes and pricing influenced these figures significantly.
Operating Expenses and Financial Insights
The Trust recorded total direct operating expenses of $0.60 million, a decrease of $0.06 million compared to the previous month. This includes severance and ad valorem taxes which contributed $0.14 million to the net profit calculation. Capital expenses were reported at $0.01 million, showing a reduction of $0.04 million from the prior month.
Trust Structure and Operations
PermRock Royalty Trust is a Delaware statutory entity that holds a net profits interest, acquiring 80% of the net profits from oil and gas production from selected properties operated by T2S Permian Acquisition II LLC. This strategic positioning in the Permian Basin of West Texas allows the Trust to participate actively in the lucrative oil and natural gas sector.
Sales Volumes and Prices
The report also presents detailed information on both oil and natural gas sales volumes, as well as average prices received at the wellhead. Current month transactional data indicates a substantial balance in volumes: the Trust recorded 22,232 barrels of oil and 24,848 Mcf of natural gas. The average price achieved for oil was $66.92 per barrel, while natural gas fetched $3.19 per Mcf. These figures underscore the Trust's resilience amid fluctuating marketplace conditions.
About PermRock Royalty Trust
PermRock Royalty Trust is committed to delivering value to its investors through ongoing assessments of its operational efficiency and profitability in oil and gas production. The Trust aims to maintain transparency with its stakeholders, ensuring that information regarding performance and distributions is readily available. The Trust is well-positioned to leverage advancements in extraction and production methods, thus enhancing its profitability over time.
Frequently Asked Questions
What is the amount of the recent cash distribution by the Trust?
The Trust declared a cash distribution of $371,192.79, which is approximately $0.030511 per trust unit.
How have the sales receipts changed from the previous month?
Oil receipts decreased to $1.49 million this month, a dip of $0.01 million from last month, while natural gas receipts decreased to $0.08 million.
What are the operating expenses reported for the Trust?
Total direct operating expenses amounted to $0.60 million, which shows a decline of $0.06 million from the previous month.
Which properties is the Trust focusing on?
The Trust primarily focuses on properties in the Permian Basin of West Texas, under the management of T2S Permian Acquisition II LLC.
How can investors learn more about the Trust?
For detailed insights and updates, investors can visit the official website of PermRock Royalty Trust, where comprehensive information is made available.
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