Seeking Alpha

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.
  • Press release.
Comments (1)
  • Michael Fitzsimmons
    , contributor
    Comments (9719) | 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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