PermRock Royalty Trust (NYSE: PRT) announced on May 19 a monthly cash distribution of USD371,192.79, equivalent to USD0.030511 per trust unit. Holders of record as of May 30 will receive the payment on June 13, 2025. This distribution is primarily based on revenue generated from oil and natural gas production in March 2025.
Production volumes and price changes
The volume of crude oil allocated for the current period totals 22,232 barrels, averaging 717 barrels per day. This marks a slight increase from the previous month’s 21,413 barrels produced. However, the average price per barrel declined to USD66.92, compared to USD70.27 during the prior period.
For natural gas, production decreased from 25,759 thousand cubic feet to 24,848 thousand, with the unit price falling to USD3.19 per thousand cubic feet, down from USD4.15. The drop in both prices and volumes negatively impacted natural gas sales revenue.
Hydrocarbon-related revenues
Cash receipts from crude oil sales for the trust’s underlying properties reached USD1.49mn, down from USD1.50mn during the previous distribution period. The USD10,000 decrease is mainly due to the lower oil price. Revenue from natural gas sales totalled USD80,000, reflecting a USD30,000 decrease caused by lower volumes and prices.
Operating expenses and capital spending
Direct operating expenses—including marketing, lease operating costs and maintenance work—amounted to USD600,000 for the period, representing a USD60,000 decrease from the previous month.
Severance and ad valorem taxes included in the net profit calculation totalled USD140,000. Capital expenditures declined to USD10,000, down from USD50,000, indicating reduced investment in the trust’s underlying assets.
