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Permian Basin Royalty Trust/$PBT

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About Permian Basin Royalty Trust

Permian Basin Royalty Trust is an express trust. The company's underlying properties include Waddell Ranch Properties in which the trust holds mineral interest as well as royalty interests in mature producing oil fields, such as Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, Panhandle Regular, N. Cowden, Todd, Keystone, Kermit, McElroy, Howard-Glasscock, Seminole, and others across Texas. The company earns the majority of its revenue in the form of royalties received through its properties.
Ticker
$PBT
Sector
Energy
Primary listing
NYSE
Employees
-
Headquarters
Dallas, United States
Website
www.pbt-permian.com

PBT Metrics

BasicAdvanced
$1.3B
81.95
$0.35
0.49
$0.28
0.83%

Bulls say / Bears say

The Texas royalty properties are still generating cash while Waddell contributes nothing: the latest report showed a $1.13 million net contribution from Texas royalties, with realised oil at $83.20 per barrel. That provides a continuing income stream from outside the cost-trapped Waddell interest. (Permian Basin Royalty Trust)
Underlying Waddell sales volumes rose year on year in the December–February quarter: oil sales increased to 1.53 million barrels from 0.84 million, and gas sales to 6.89 million Mcf from 4.54 million. If higher volumes eventually generate proceeds after excess costs are recovered, they could support distributions. (SEC)
A definitive combination agreement involving the Trust and Blackbeard’s US Land Guild business offers a potential catalyst and a route to a larger combined asset base. Completion is not assured: the transaction remains subject to a unitholder vote and other conditions. (SEC, Yahoo Finance)
Waddell remains in an excess-cost position: no proceeds from it were included in the latest distribution, and accumulated costs plus interest must be recovered before future proceeds can reach unitholders. That leaves distributions reliant on the other royalty properties for now. (Permian Basin Royalty Trust)
Underlying royalty income is exposed to weaker realised prices and volumes: in the first quarter of 2026, oil and gas prices were below year-earlier levels at both property groups, while Texas royalty volumes also fell. This puts pressure on distributions even if headline oil prices improve. (SEC)
A court-approved indenture change removed the 75% of outstanding units approval threshold for certain amendments, allowing changes by a majority of unitholders at a quorate meeting. That reduces minority holders’ ability to block changes to the Trust’s terms. (SEC)
Data summarised monthly by Lightyear AI. Last updated on 19 Oct 2026.

PBT Financial Performance

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PBT News

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PBT Land and Minerals Announces Record Date and Subscription Price for Rights Offering

Business Wire1 month ago
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