Permian Basin Royalty Trust declares $0.045191 per unit; no Waddell Ranch proceeds
The Trust declared a monthly cash distribution of $0.045191 per unit, totaling $2,106,330.04, payable November 16, 2026 to holders of record on October 30, 2026. The payment rose from the prior month mainly due to a final settlement payment from Blackbeard Operating, but it includes no Waddell Ranch proceeds because those properties remain in an excess cost position, and a proposed combination with Blackbeard Holdings still requires a unitholder vote.
Key points
- Distribution of $0.045191 per unit, or $2,106,330.04 across 46,608,796 units, payable November 16, 2026 to holders of record October 30, 2026.
- Increase from the prior month due primarily to the final settlement payment from Blackbeard Operating; higher Texas Royalty Properties gas volumes and pricing also contributed, partly offset by lower oil pricing.
- Waddell Ranch production costs exceeded gross proceeds for September 2026, so no Waddell Ranch proceeds were included; all excess costs plus accrued interest must be recovered before future distributions.
- SoftVest's combination agreement dated July 28, 2026 proposes creating PBT Land and Minerals, Inc.; completion requires a Trust unitholder vote, and the Trustee is not making a recommendation.
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 20, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.