Permian Basin Royalty Trust Issues June Cash Distribution
Permian Basin Royalty Trust has declared a cash distribution to the holders of its units of beneficial interest of $.047032 per unit, payable on July 14, 2009, to unit holders of record on June 30, 2009.
This month's distribution decreased due primarily to lower production of both oil and gas but was offset by an increase in the price of oil. 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 41,233 bbls and 165,176 mcf.
The average price for oil was $46.29 per bbl and for gas was $3.90 per mcf. Capital expenditures were approximately $859,141. The numbers provided reflect what was net to the Trust.