FORT WORTH, Texas, Oct. 19, 2018 /PRNewswire/ — PermRock Royalty Assurance (PRT) (the “Trust”) today declared a account banknote administration to almanac holders of its assurance units apery benign interests in the Assurance (“Trust Units”) as of October 31, 2018 and payable on November 15, 2018 in the accumulated bulk of $1,409,766.02 or $0.115880 per Assurance Unit, based principally aloft assembly during the ages of August 2018.
PermRock Royalty Assurance logo (PRNewsfoto/PermRock Royalty Trust)
The afterward table displays basal oil and accustomed gas sales volumes and boilerplate accustomed bubbler prices attributable to the accepted and above-mentioned ages net profits absorption calculations:
Underlying Sales Volumes
Oil banknote receipts for the backdrop basal the Assurance totaled $2.76 actor for the accepted month, a abatement of $0.27 actor from the above-mentioned ages administration aeon as a aftereffect of a abatement in sales volumes and oil prices compared to the above-mentioned month. Boaz Energy (as authentic below) brash the Trustee that the abatement in sales bulk was primarily attributable to a lower NYMEX boilerplate oil bulk in August and a deepening in the bounded differentials to NYMEX, primarily the Midland Cushing cogwheel and the West Texas Sour differential. For added advice on the bounded differentials, see the Operational Amend acquaint this ages to the Trust’s website at http://www.permrock.com/files/doc_downloads/PermRock-Royalty-Trust-10-09-2018-Operational-Update_vF.pdf.
Natural gas banknote receipts for the backdrop basal the Assurance totaled $0.22 actor for the accepted month, a abatement of $0.06 actor from the above-mentioned ages administration aeon as a aftereffect of a abatement in sales volumes. Boaz Energy brash the Trustee that the abatement in sales volumes was primarily attributable to a gas bulb actuality bottomward in Crane County, which abatement in volumes added than account an access in the boilerplate price.
Total absolute operating expenses, including charter operating costs and workover expenses, were $0.57 million, an access of $0.05 actor from the above-mentioned month. Severance and ad valorem taxes were $0.29 million, a abatement of $0.01 actor from the above-mentioned month.
Capital expenditures were $0.21 actor in the accepted month, a abatement of $0.09 actor from the above-mentioned month. Boaz Energy brash the Trustee that basic expenditures were primarily attributable to non-operated conduct and completions.
About PermRock Royalty Trust
PermRock Royalty Assurance is a Delaware approved assurance formed by Boaz Energy II, LLC (“Boaz Energy”) to own a net profits absorption apery the appropriate to accept 80% of the net profits from the auction of oil and accustomed gas assembly from assertive backdrop endemic by Boaz Energy in the Permian Basin of West Texas. For added advice on PermRock Royalty Trust, amuse appointment our website at www.permrock.com.
Cautionary Account Apropos Forward-Looking Statements
Certain statements independent in this columnist absolution aggregate “forward-looking statements.” These advanced statements represent the Trust’s expectations or behavior apropos approaching events, and it is accessible that the after-effects declared in this columnist absolution will not be achieved. These advanced statements accommodate the bulk and date of any advancing administration to unitholders. The advancing administration is based, in part, on the bulk of banknote accustomed or accepted to be accustomed by the Assurance from Boaz Energy with account to the accordant period. Any differences in absolute banknote receipts by the Assurance could affect this distributable amount. Added important factors that could account absolute after-effects to alter materially accommodate costs of the Assurance and affluence for advancing approaching expenses. Statements fabricated in this columnist absolution are able by the cautionary statements fabricated in this columnist release.
Any advanced account speaks alone as of the date on which it is made, and, except as appropriate by law, the Assurance does not undertake any obligation to amend or alter any advanced statement, whether as a aftereffect of new information, approaching contest or otherwise. New factors appear from time to time, and it is not accessible for the Assurance to adumbrate all such factors. When because these advanced statements, you should accumulate in apperception the accident factors and added cautionary statements in the announcement filed with the SEC in affiliation with the Trust’s antecedent accessible offering, and in the Trust’s Quarterly Letters on Form 10-Q and added accessible filings filed with the SEC. The accident factors and added factors acclaimed in the Trust’s accessible filings with the SEC could account its absolute after-effects to alter materially from those independent in any advanced statement. The Trust’s filed letters are or will be accessible over the Internet at the SEC’s website at http://www.sec.gov.
PermRock Royalty Trust
Simmons Bank, Trustee
Lee Ann Anderson, Senior Vice President and Assurance Officer
Toll-free: (855) 588-7839
Fax: (817) 298-5579
e-mail: [email protected]
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