Permianville Royalty Trust Announces Monthly Operational Update - Seite 2

 

$

56.98

 

$

2.14

Prior Month

 

46,413

 

1,497

 

278,671

 

8,989

 

$

51.22

 

$

2.45

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $1.8 million for the current month on realized wellhead prices of $56.98/Bbl, down $0.6 million from the prior month distribution period. The decrease in sales volumes was primarily due to winter storm Uri in February 2021, which caused a number of the operators of the Underlying Properties to temporarily shut-in wells.

Recorded natural gas cash receipts from the Underlying Properties remained consistent with the prior month at $0.7 million.

Total accrued operating expenses for the period were $2.1 million, a $0.3 million decrease month-over-month from the prior period. Capital expenditures increased $0.1 from the prior period.

The remaining cumulative shortfall in net profits for the prior months will be deducted from any net profits in next month’s net profits interest calculation. At this time based on current commodity prices, COERT Holdings 1 LLC (the “Sponsor”) anticipates that the Underlying Properties will continue to generate positive net profits to reduce the cumulative shortfall before returning to monthly distributions again.

About Permianville Royalty Trust

Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.