Permianville Royalty Trust Announces Monthly Operational Update

Permianville Royalty Trust (NYSE: PVL) (the “Trust”) today announced the net profits interest calculation for September 2020. The net profits interest calculation represents reported oil production for the month of June 2020 and reported natural gas production during May 2020. The calculation includes accrued costs incurred in July 2020.

This month, there was a slight rebound in the reported oil volumes, which partly reflects a return of previously deferred sales and shut-in production by some of the operators of the oil and gas properties underlying the Trust (the “Underlying Properties”). Excluding prior net profits interest shortfalls, income from the distributable net profits interest this month would have been approximately $0.4 million, or $0.013087 per unit. As a result of the cumulative outstanding net profits shortfall of approximately $2.8 million reported in the prior two months, however, no distribution will be paid to the Trust’s unitholders of record on September 30, 2020 in October 2020. Distributions to the Trust will resume once the cumulative net profits interest shortfall, which now totals approximately $2.4 million, is eliminated.

The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations. The amounts in the table have not been adjusted to reflect temporarily delayed sales and shut-in oil volumes discussed below.

Underlying Sales Volumes

Average Price

Oil

Natural Gas

Oil

Natural Gas

Bbls

Bbls/D

Mcf

Mcf/D

(per Bbl)