Permian Basin Royalty Trust Announces August Cash Distribution
Press Release Source: Permian Basin Royalty Trust On Friday August 20, 2010, 11:30 am EDT
DALLAS, Aug. 20 /PRNewswire-FirstCall/ -- Permian Basin Royalty Trust (NYSE:PBT - News) ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $.111909 per unit, payable on September 15, 2010, to unit holders of record on August 31, 2010. 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 decreased slightly from the previous month due primarily to slightly lower oil prices and lower production of both oil and gas. This would primarily reflect production for the month of June. 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 55,890 bbls and 250,232 Mcf. The average price for oil was $68.08 per bbl and for gas was $6.57 per Mcf. Capital expenditures were approximately $70,000. The numbers provided reflect what was net to the Trust.