PermRock Royalty Trust Reports Monthly Distribution of $368k
PermRock Royalty Trust Announces Monthly Distribution
PermRock Royalty Trust (NYSE: PRT) has declared its monthly cash distribution for the record holders of Trust Units. For this month, a total of $368,269.31 will be distributed, equating to approximately $0.030271 per Trust Unit. This distribution is influenced by the production metrics from the preceding month.
Understanding Current Production Metrics
In assessing the financial results, it's vital to look at the underlying oil and natural gas metrics that contribute to the Trust's profitability. The following data summarizes the production volumes and average prices for both oil and natural gas:
Sales Volumes and Pricing Overview
During the current month, the Trust reported sales volumes of 22,464 barrels of oil and 27,970 Mcf of natural gas. The average price for oil received was $68.87 per barrel, while natural gas fetched an average of $1.66 per Mcf. This reflects a slight decrease compared to previous months, indicating fluctuating market conditions.
The table below provides a detailed overview of production metrics from the current and prior month:
Production Metrics Table
| Metrics | Current Month | Prior Month |
|---|---|---|
| Oil Sales (Bbls) | 22,464 | 24,944 |
| Oil Daily Production (Bbls/D) | 749 | 805 |
| Natural Gas Sales (Mcf) | 27,970 | 29,787 |
| Gas Daily Production (Mcf/D) | 932 | 961 |
| Average Oil Price (per Bbl) | $68.87 | $74.92 |
| Average Gas Price (per Mcf) | $1.66 | $2.00 |
Financial Performance Insights
The cash receipts from oil sales this month totaled $1.55 million, which is down $0.32 million from the previous month primarily due to declining oil prices and reduced sales volumes. In addition, natural gas cash receipts were $0.05 million, reflecting a minor decrease of $0.01 million.
Operating expenses related to the production were recorded at $0.73 million, showing a slight reduction as well. Notably, tax-related expenses saw a significant drop due to an ad valorem tax credit that adjusted previous obligations. The capital expenses rose this month to $0.71 million due to drilling activities associated with a non-operated well.
About PermRock Royalty Trust
PermRock Royalty Trust is established as a Delaware statutory trust with the purpose of owning a net profits interest. This interest allows the Trust to receive 80% of the net profits derived from oil and natural gas operations conducted by Boaz Energy in the Permian Basin. For more details on the Trust, stakeholders and interested parties are encouraged to reach out to the Trust’s management or visit their website.
Frequently Asked Questions
What is the amount of the monthly distribution declared by PermRock?
The Trust has declared a monthly distribution of $368,269.31.
How does the current month's oil production compare to the previous month?
In the current month, oil production decreased to 22,464 Bbls from 24,944 Bbls in the prior month.
What were the average prices for oil and natural gas this month?
The average oil price was $68.87 per barrel, while natural gas averaged $1.66 per Mcf.
What drove the decrease in production receipts this month?
The decrease was primarily influenced by falling oil prices and reduced sales volumes across both oil and natural gas.
What is the role of Boaz Energy in relation to the Trust?
Boaz Energy manages the operations and production that fund the Trust's profitability through its proprietary oil and natural gas sites.
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