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DALLAS, Texas, Nov. 19 -- Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $0.049958 per unit, payable on December 14, 2018, to unit holders of record on November 30, 2018.
This month's distribution decreased from the previous month due to an increase of LOE expenditures relating to substantive workover expense for the previous month, which in turn, through the allocation of the Trust's production from the underlying properties, resulted in an increase in both oil and gas production allocated to the Trust's interest for the Waddell Ranch properties. This was offset by a decline in the pricing of both oil and gas. The Texas Royalty Properties saw an increase in the production of both oil and gas that was offset by a decline in the pricing of oil and gas...