Permianville Royalty Trust Announces Monthly Operational Update

Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced the net profits interest calculation for January 2021. The net profits interest calculation represents reported oil production for the month of October 2020 and reported natural gas production during September 2020. The calculation includes accrued costs incurred in November 2020.

This month, excluding prior net profits interest shortfalls, income from the distributable net profits interest would have been approximately $0.1 million. As a result of the cumulative outstanding net profits shortfall of approximately $1.5 million, however, no distribution will be paid to the Trust’s unitholders of record on January 29, 2021 in February 2021. Distributions to the Trust will resume once the cumulative net profits shortfall, which continues to decrease and now totals approximately $1.4 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)

(per Mcf)

Current Month

47,347

1,527