Permianville Royalty Trust Declares March 2026 Cash Distribution Amid Stable Oil and Natural Gas Production and Ongoing Capital Expenditures
Permianville Royalty Trust hereinafter referred to as the “Trust”) has officially announced a cash distribution to the holders of its units of beneficial interest, marking another scheduled disbursement in line with the Trust’s commitment to provide regular income to its unitholders. The declared distribution amounts to $0.005000 per unit and is set to be paid on March 13, 2026, to unitholders of record as of March 2, 2026.
This latest distribution reflects the Trust’s ongoing operations and financial performance, based on reported oil production during November 2025 and reported natural gas production during October 2025. The net profits interest calculation for this distribution also includes accrued operating costs incurred in December 2025, ensuring that unitholders receive an accurate reflection of the Trust’s earnings from its underlying oil and gas properties.
Production and Sales Volumes Overview
The Trust’s underlying properties continue to deliver consistent production from its predominantly non-operated oil and gas assets located across Texas, Louisiana, and New Mexico. The following table outlines the reported underlying sales volumes and average wellhead prices for both oil and natural gas associated with the current month’s calculation compared to the prior month:
| Commodity | Current Month | Prior Month | ||
|---|---|---|---|---|
| Volume | Average Price | Volume | Average Price | |
| Oil (Bbls) | 32,171 | $57.95 | 36,613 | $58.21 |
| Oil (Bbls/Day) | 1,072 | — | 1,181 | — |
| Natural Gas (Mcf) | 314,444 | $2.96 | 737,506 | $2.62 |
| Natural Gas (Mcf/Day) | 10,143 | — | 24,584 | — |
As seen in the table, oil production for the current month totaled 32,171 barrels, translating to an average daily production of 1,072 barrels per day. This represents a moderate decrease compared to the prior month, where production totaled 36,613 barrels or 1,181 barrels per day. Despite this slight reduction in volume, the realized average wellhead price for oil remained relatively strong at $57.95 per barrel, only marginally lower than the prior month’s $58.21 per barrel.
Natural gas production for the current month totaled 314,444 Mcf, averaging 10,143 Mcf per day, which is a significant decrease compared to the prior month’s total of 737,506 Mcf or 24,584 Mcf per day. The decrease in natural gas sales for the current month is largely attributed to prior period adjustments and timing differences in cash receipts from a major operator in the Haynesville shale area. Specifically, the operator of several newly commissioned wells brought online in 2025 withheld certain royalties this month to account for royalties that should have been withheld in a prior period. Importantly, these adjustments did not reflect any actual reduction in production from the underlying properties, as confirmed by the operator. Excluding these adjustments, natural gas production for the current month would have been approximately 756,000 Mcf, or over 24,000 Mcf per day, demonstrating that operational performance remains stable.
The realized wellhead price for natural gas increased to $2.96 per Mcf compared to $2.62 per Mcf in the prior month, reflecting the market dynamics and contractual pricing mechanisms in place for the Trust’s gas production.
Cash Receipts and Financial Performance
During the current month, recorded cash receipts from oil production on the Trust’s underlying properties totaled $1.9 million, reflecting the realized wellhead prices of $57.95 per barrel. This represents a decline of approximately $0.2 million compared to the prior month’s oil cash receipts, primarily due to the lower volume of barrels produced during the reporting period.
For natural gas, recorded cash receipts totaled $0.9 million for the current month on realized prices of $2.96 per Mcf, marking a decrease of approximately $1.0 million compared to the prior month. As noted, this decline is largely attributable to prior period adjustments and the timing of cash receipts from the major Haynesville operator, rather than a reflection of reduced production. Excluding these adjustments, the natural gas revenue would have aligned more closely with previous months’ receipts, underscoring the Trust’s continued operational stability.
Operating Expenses and Capital Expenditures
Total accrued operating expenses for the current month decreased to $2.4 million, a reduction of $0.4 million compared to the prior month. The decrease is indicative of effective cost management and operational efficiencies across the underlying properties. Meanwhile, capital expenditures remained steady at $0.9 million, consistent with prior periods, as the Trust continues to invest in maintenance and strategic development projects to sustain production and enhance the value of the assets.
Given the sustained level of capital expenditures, the Trust’s sponsor, COERT Holdings 1 LLC (the “Sponsor”), released $0.8 million from the previously established cash reserve for approved future development expenses. This release is intended to partially fund the current month’s capital expenditures while maintaining prudent reserves for anticipated development activities. The remaining $0.4 million in the reserve will be held to cover incremental future development expenses. Any unspent amounts from this reserve, should development costs be lower than expected or delayed, may be released as incremental cash distributions to unitholders in a future period, thereby potentially increasing future monthly distributions.
Operational Highlights and Market Context
The Trust’s underlying properties primarily consist of non-operated oil and gas assets across key producing regions in Texas, Louisiana, and New Mexico. These properties contribute to the Trust’s net profits interest by generating oil and natural gas revenue, from which the Trust receives 80% of net profits, after accounting for operating expenses and capital expenditures.
Despite the slight decrease in production volumes for both oil and natural gas, the Trust continues to benefit from favorable wellhead prices, particularly in the oil segment, which has remained resilient above $57 per barrel. In the natural gas segment, the impact of timing adjustments highlights the complexities of royalty accounting and revenue recognition in non-operated properties. Nevertheless, production levels, excluding adjustments, remain robust, demonstrating the underlying strength and consistency of the Trust’s asset base.
The Trust’s commitment to disciplined capital expenditures ensures ongoing maintenance and development of its properties, including investments in new wells, infrastructure, and production optimization projects. The strategic allocation of cash reserves to fund approved development expenditures reflects proactive planning by the Sponsor to balance short-term distributions with long-term asset growth.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust established to hold a net profits interest in select oil and gas properties located predominantly in Texas, Louisiana, and New Mexico. The Trust’s primary objective is to provide unitholders with a monthly cash distribution derived from 80% of the net profits generated by the sale of oil and natural gas from these properties.
As disclosed in the Trust’s filings with the U.S. Securities and Exchange Commission (SEC), the amount and timing of distributions are subject to fluctuations depending on multiple factors, including:
- Actual production volumes of oil and gas from the underlying properties.
- Commodity prices, including realized wellhead prices for oil and natural gas.
- Operating expenses, including costs incurred in the production, transportation, and marketing of hydrocarbons.
- Capital expenditures, including maintenance, development, and enhancement of production infrastructure.
- Administrative costs, including trust-level management and oversight expenses.
Given these variables, distributions are expected to vary month-to-month, reflecting the inherent dynamics of the oil and gas industry. The Trust maintains a practice of providing monthly distributions, ensuring regular income to its unitholders while carefully managing reserves for future development.
