PermRock Royalty Trust Announces Significant Monthly Distributions
PermRock Royalty Trust Announces Monthly Cash Distribution
Today, PermRock Royalty Trust (NYSE: PRT) declared a monthly cash distribution for the holders of its trust units, which represent beneficial interests in the Trust. This distribution is significant and signals a positive trajectory for the Trust's financial standing. The distribution amounts to $337,452.89, translating to approximately $0.027737 per Trust Unit.
Understanding the Distribution Details
This distribution is based on production metrics from previous months, specifically targeting production activity in June. The present financial allocation points toward ongoing resource production, validating the Trust's commitment to maximizing shareholder value.
Oil and Natural Gas Sales Performance
Analysis of the cash receipts indicates that oil sales totaled $1.25 million for the current month, marking a $0.13 million uplift from the prior month. The increase can be attributed to stronger non-operated property receipts, which also encompassed a portion of May's oil sales volume. This uptick in revenue reflects a favorable pricing environment and robust sales activity.
Natural Gas Revenue Insights
Natural gas revenue also saw an improvement, gathering $0.05 million for the month. This represents a modest increase of $0.01 million over the last distribution period, driven by increased cash flows from non-operated properties linked to natural gas sales. Such positive trends signify a recovery in pricing markets and operational performance.
Operational Expenses and Overall Financial Health
The total operating expenses accumulated during this distribution period amounted to $0.48 million. This figure encompasses lease operating costs, marketing expenditures, and other operational-related expenses. The increase in total expenses was $0.12 million compared to the previous month, highlighting the ongoing operational demands of the Trust. Moreover, a substantial portion of these expenses correlates with severance and ad valorem taxes calculated this month, totaling approximately $0.13 million.
Capital Expenditures and Financial Choices
In June, significant capital expenditures of around $0.17 million were reported by T2S Permian Acquisition II LLC. However, an interesting fact emerged: these expenses were balanced out against accounts receivable from a third-party operator. As a result, no capital expenditures affected gross proceeds during that production month.
About PermRock Royalty Trust
PermRock Royalty Trust operates as a Delaware statutory trust, specifically designed to hold a net profits interest representing an 80% share of the net profits from oil and natural gas sales from properties overseen by T2S in the Permian Basin. The Trust's operations emphasize transparency and ensuring that unitholders receive fair returns on their investments.
Contact Information for Unitholders
For any inquiries, unitholders can reach out to the Trust's administration through the Argent Trust Company, which acts as the Trustee. Unitholders may contact:
Jana Egeler
Vice President, Trust Administrator
Toll-free: (855) 588-7839
Fax: (214) 559-7010
Frequently Asked Questions
What is the amount of the monthly cash distribution?
The monthly cash distribution announced by PermRock Royalty Trust amounts to $337,452.89.
When is the cash distribution payable?
The cash distribution is payable on a date set by the Trust, typically shortly after the declaration.
How does oil production affect the distribution?
Oil production directly influences the cash flow available for distributions, as increased production typically leads to higher revenues.
What role does T2S play in the Trust's operations?
T2S operates the properties from which the Trust derives its profits, managing the sale of oil and natural gas resources.
How can unitholders get more information about the Trust?
Unitholders can visit the official website of PermRock Royalty Trust for the latest updates and information on operations and distributions.
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