Permianville Royalty Trust (NYSE: PVL) has announced a cash distribution of $0.035 per unit, payable on September 16, 2024, to unitholders of record as of August 30, 2024. This distribution is based on oil production reported for May 2024 and natural gas production reported for April 2024, including accrued costs from June 2024.
The table below shows the reported underlying oil and natural gas sales volumes and average received wellhead prices for the current and prior months:
| Metrics | Current Month | Prior Month |
|---|---|---|
| Oil (Bbls) | 41,469 | 97,721 |
| Oil (Bbls/D) | 1,338 | 3,257 |
| Natural Gas (Mcf) | 394,278 | 961,635 |
| Natural Gas (Mcf/D) | 13,143 | 31,020 |
| Oil Price (per Bbl) | $79.53 | $80.84 |
| Gas Price (per Mcf) | $1.39 | $1.46 |
Oil cash receipts from the Trust’s properties totaled $3.3 million this month, with an average wellhead price of $79.53 per barrel, down from $7.9 million last month. This decrease reflects last month’s inclusion of new Permian wells with production and revenues from prior periods. Natural gas receipts were $0.5 million this month at $1.39 per Mcf, a decline from $1.4 million previously, also due to new Permian wells and prior period revenues.
Total accrued operating expenses were $1.8 million, a decrease of $1.4 million from the previous month, largely due to prior period adjustments from an operator in the Permian area. Capital expenditures increased by $0.2 million to $0.6 million.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust holding a net profits interest in oil and gas production from properties in Texas, Louisiana, and New Mexico. The Trust’s distributions can fluctuate based on production volumes, commodity prices, capital expenditures, and administrative expenses. Distributions are generally made on a monthly basis. For more information, visit Permianville Royalty Trust.
Forward-Looking Statements
This release contains forward-looking statements regarding anticipated distributions and factors affecting the Trust’s cash flow. These statements involve risks and uncertainties, including fluctuations in commodity prices, operating expenses, and other factors beyond the Trust’s control. For a detailed discussion of these risks, please refer to the Trust’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023. These reports are available at SEC.gov.
