PERMIAN BASIN ROYALTY TRUST
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
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Item 6. Selected Financial Data
REMOVED AND RESERVED.
Computation of Royalty Income Received by the Trust
The Trust’s royalty income is computed as a percentage of the net profit from the operation of the properties in which the Trust owns net overriding royalty interests. The percentages of net profits are 75% and 95% in the cases of the Waddell Ranch properties and the Texas Royalty properties, respectively. The Waddell Ranch properties did not contribute to Royalty income in October and November of 2024 and was in a deficit position as of December 31, 2024. Royalty income received by the Trust for the five years ended December 31, 2024, was computed as shown in the table on the next page.
| Year Ended December 31, | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 · 2023 · 2022 · 2021 · 2020 | ||||||||||
| Gross Proceeds of SalesFrom the Underlying Properties: | WaddellRanchProperties | TexasRoyaltyProperties | WaddellRanchProperties | TexasRoyaltyProperties | WaddellRanchProperties | TexasRoyaltyProperties | WaddellRanchProperties | TexasRoyaltiesProperties | WaddellRanchProperties | TexasRoyaltyProperties |
| Oil Proceeds | $205,785,388 | $15,730,975 | $213,356,229 | $16,423,167 | $195,554,348 | $20,665,465 | $66,328,817 | $12,799,649 | $22,745,332 | $10,093,604 |
| Gas Proceeds | 22,659,209 | 892,576 | 17,428,482 | 1,159,111 | 37,108,451 | 1,357,568 | 17,259,346 | 906,335 | 4,584,768 | 595,961 |
| Other (adjustment) (1) | 13,623,357 | — | 20,293,769 | — | 10,903,556 | — | 9,423,956 | — | 8,583,304 | — |
| Total | 242,067,954 | 16,623,551 | 251,078,480 | 17,582,278 | 243,566,355 | 22,023,033 | 93,012,119 | 13,705,984 | 35,913,404 | 10,689,565 |
| Less: | ||||||||||
| Severance Tax | ||||||||||
| Oil | 9,353,474 | 619,552 | 9,678,938 | 632,418 | 8,915,016 | 792,637 | 3,057,598 | 380,409 | 1,056,855 | 414,326 |
| Gas | 161,948 | 32,066 | 933,225 | 49,117 | 4,481,839 | 83,522 | 194,140 | 48,894 | 164,243 | 32,666 |
| Gathering and Transportation Costs | 23,864,405 | 127,292 | 21,715,807 | 134,222 | $15,427,633 | — | 173,640 | — | 726,596 | — |
| Lease Operating Expense and Property tax: | ||||||||||
| Oil and Gas | 82,174,511 | 960,000 | 79,628,562 | 960,000 | 43,673,061 | 800,380 | 23,026,783 | 849,824 | 19,635,387 | 738,915 |
| Capital Expenditures | 109,416,344 | — | 120,462,603 | — | 124,283,888 | — | 66,559,957 | — | 10,314,532 | — |
| Total | 224,970,682 | 1,738,910 | 232,419,135 | 1,775,757 | $196,781,437 | $1,676,539 | $93,012,118 | $1,279,127 | $31,897,613 | $1,185,907 |
| Net Profits | 17,097,273 | 14,884,641 | 18,659,345 | 15,806,521 | $46,784,918 | $20,346,494 | $— | $12,426,857 | $4,015,791 | $9,503,658 |
| Net Overriding Royalty Interest | 75% | 95% | 75% | 95% | 75% | 95% | 75% | 95% | 75% | 95% |
| Total Royalty Income for Distribution | $12,822,955 | $14,140,409 | $13,994,509 | $15,016,195 | $35,088,618 | $19,329,169 | $— | $11,805,514 | $3,011,843 | $9,028,475 |
(1)
See Note 4 to Financial Statements under Item 8. Financial Statements and Supplemental Data
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