Permian Basin Royalty Trust Announces February Cash Distribution
U.S. Trust, as Trustee of the Permian Basin Royalty Trust, declared a cash distribution to the holders of its units of beneficial interest of $.193032 per unit, payable on March 14, 2008, to unit holders of record on February 29, 2008.
This month's distribution increased due to increased oil and gas production in the Waddell Ranch properties and slightly higher gas prices. This would primarily reflect production for the month of December.
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 69,648 bbls and 373,556 mcf. The average price for oil was $86.17 per bbl and for gas was $9.36 per mcf. Capital expenditures were approximately $39,351. The numbers provided reflect what was net to the Trust.