Permian Basin payout slips back under $0.10, but production and pricing increase


Permian Basin Royalty Trust (PBT +2.3%) declares a monthly distribution of $0.099509 payable on November 15 to holders of record on October 31.

The payout is a shade lower than last month's $0.106268 payment thanks to increased capex and lease operating expenses on the Waddell Ranch Properties. Production and pricing for both oil and gas increased.

About seven 2013 workover wells were completed during August. Capex summed to $2.626M vs. $2.14M in July.

Comments (1)
  • Michael Fitzsimmons
    , contributor
    Comments (10367) | Send Message
     
    Yes, the distribution slipped below a dime (barely) but notice this month had a bump up in cap-ex by the operator. A history of production, cap-ex, and distis through Sept of this year can be found here:

     

    http://bit.ly/181qy4m

     

    The cap-ex bodes well for future production. It's nice to see production increasing for a supposedly depleting trust, and I would assume we will see year-end 2013 reserve growth as well.
    21 Oct 2013, 01:46 PM Reply Like
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