Permianville Royalty Trust Announces Monthly Cash Distribution - Seite 2

 

380,958

 

13,606

 

$

98.77

 

$

4.84

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $4.3 million for the current month on realized wellhead prices of $105.29/Bbl, up $0.3 million from the prior month’s oil cash receipts.

Recorded natural gas cash receipts from the Underlying Properties totaled $1.4 million for the current month on realized wellhead prices of $4.52/Mcf, down $0.4 million from the prior month.

Total accrued operating expenses for the period were $2.2 million, a decrease of $0.1 million from the prior period. Capital expenditures increased $2.5 million from the prior period to $3.5 million primarily due to the drilling of seven non-operated drilling projects in the Permian area by a private operator and a large public operator.

As previously disclosed, COERT Holdings 1 LLC (the “Sponsor”) has established a $1.5 million cash reserve for approved, future development expenses in 2022. Given the increase in capital expenditures on the Underlying Properties for the current month compared to prior months this year, the Sponsor is releasing $0.9 million from the reserve to partially fund the current month’s capital expenditures. The remaining reserve of $0.6 million will be held to fund incremental future development expenses; however, if those expenses are ultimately delayed or are less than expected, or if the outlook changes, amounts reserved but unspent will be released as an incremental cash distribution in a future period.

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.