Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. PERMIAN BASIN ROYALTY TRUST (319654) 10-Q published on Nov 09, 2016 at 12:00 pm
The cash received by the Trustee consists of the amounts received by owners of the interest burdened by the Royalties from the sale of production less the sum of applicable taxes, accrued production costs, development and drilling costs, operating charges and other costs and deductions, multiplied by 75% in the case of the Waddell Ranch properties and 95% in the case of the Texas Royalty properties.
The average received price of oil decreased to an average price per barrel of $42.94 per Bbl in the third quarter of 2016, compared to $54.26 per Bbl in the third quarter of 2015 due to decline in market prices for oil. The Trustee has been advised by ConocoPhillips that for the period of August 1, 1993, through September 30, 2016, the oil from the Waddell Ranch properties was being sold under a competitive bid to a third party. The average price of gas (including natural gas liquids) decreased from $2.90 per Mcf in the third quarter of 2015 to $2.01 per Mcf in the third quarter of 2016 due to the decrease in spot prices of natural gas.
These transactions resulted in distributable income for the nine months ended September 30, 2016 of $12,214,166, or $.26 per Unit. For the nine months ended September 30, 2015, distributable income was $13,198,932, or $.28 per Unit.