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Permian Basin Royalty Trust Announces June Cash Distribution
DALLAS, June 20, 2011 /PRNewswire/ -- Permian Basin Royalty Trust (NYSE: PBT) ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $.143921 per unit, payable on July 15, 2011, to unit holders of record on June 30, 2011. Permian's cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.pbt-permianbasintrust.com/.
This month's distribution increased from the previous month due primarily to an increase in the prices of both oil and gas. This would primarily reflect production for the month of April. The worldwide market conditions continue to affect the pricing for domestic production. It is difficult to predict what effect these conditions will have on future distributions.
Production for Waddell Ranch and the Texas Royalty Properties combined for oil and gas respectively was 52,526 bbls and 196,662 Mcf. The average price for oil was $103.58 per bbl and for gas was $8.04 per Mcf. Capital expenditures were approximately $659,262. The numbers provided reflect what was net to the Trust.
SOURCE Permian Basin Royalty Trust
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