Permian Basin Royalty Trust declared a monthly cash distribution of $0.018701 per unit for August, payable on September 15, 2026, to unitholders of record on August 31, 2026. The total distribution amount is $871,663.17, derived from net profits of $1,325,455 from Texas Royalty Properties after deducting general and administrative expenses of $453,792. This represents a decrease from the prior month due to the absence of a $1,125,000 settlement payment previously received from Blackbeard Operating LLC, lower natural gas volumes and oil pricing in Texas Royalty Properties, partially offset by higher oil volumes and gas pricing. No proceeds were included for Waddell Ranch properties as production costs exceeded gross proceeds for July. Additionally, the filing notes a proposed business combination between SoftVest affiliates and Blackbeard Holdings to create PBT Land and Minerals, Inc., subject to unitholder approval at a special meeting. Permian Basin Royalty Trust operates in the oil and gas industry by holding net profits interests in producing mineral properties.

Permian Basin Royalty Trust announced that SoftVest, L.P., a unitholder representing in excess of 15% of units, entered into a definitive Combination Agreement with Blackbeard Holdings, LLC to merge the Trust's assets and certain Blackbeard oil and natural gas mineral interests into a new publicly traded entity, PBT Land and Minerals, Inc. The transaction requires approval from Trust unitholders at a special meeting requested by SoftVest under the Trust indenture. New PBT intends to file Form S-4 for proxy solicitation and Form S-1 for a rights offering of shares. This is a significant strategic transaction involving potential corporate restructuring and asset combination in the oil and natural gas royalty trust industry.

Permian Basin Royalty Trust announced a monthly cash distribution of $0.043566 per unit, payable on August 14, 2026, to unitholders of record on July 31, 2026. The distribution was supported by a $1,125,000 settlement payment from Blackbeard Operating LLC and higher oil pricing, though Waddell Ranch properties remain in an excess cost position. The company operates in the energy sector as a royalty trust managing oil and gas production interests.