Permian Basin Royalty Trust Declares Cash Distribution
Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $.110007 per unit, payable on March 12, 2010, to unit holders of record on February 26, 2010.
This month's distribution decreased slightly from the previous month due primarily to a decrease in production of both oil and gas. Also, the price of oil declined, offset by an increase in 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 52,880 bbls and 231,516 Mcf. The average price for oil was $70.29 per bbl and for gas was $7.31 per Mcf. Capital expenditures were approximately $480,514. The numbers provided reflect what was net to the Trust.