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Permian Basin Royalty Trust Announces December Cash Distribution
Posted by: gurufocus (IP Logged)
Date: December 19, 2008 12:02PM

Press Release: Permian Basin Royalty Trust Announces December Cash Distribution PERMIAN BASIN ROYALTY TRUSTs principal assets are comprised of a 75% net overriding royalty interest carved out of Southland Royalty Company's fee mineral interests in the Waddell Ranch properties in Crane County Tex. and a 95% net overriding royalty interest carved out of Southland Royalty Company's major producing royalty properties in Texas. Permian Basin Royalty Trust has a market cap of $681.42 million; its shares were traded at around $14.25 with and P/S ratio of 9.97. The dividend yield of Permian Basin Royalty Trust stocks is 12.48%. Permian Basin Royalty Trust had an annual average earning growth of 16.5% over the past 10 years. GuruFocus rated Permian Basin Royalty Trust the business predictability rank of 3.5-star.

More on PBT: Gurus buys and sells of PBT 10-year financial history of PBT. Insider buys/sells of PBT.

Press Release:

DALLAS, Dec. 19 /PRNewswire-FirstCall/ -- U.S. Trust, as Trustee of thePermian Basin Royalty Trust (NYSE: PBT), today declared a cash distribution tothe holders of its units of beneficial interest of $.110434 per unit, payableon January 15, 2009, to unit holders of record on December 31, 2008.

This month's distribution decreased due primarily to a decrease in theprice of both oil and gas and a decline in production of oil, but offset by anincrease of gas production compared to the previous month. This wouldprimarily reflect production for the month of October.

The worldwide market conditions continue to affect the pricing fordomestic production. It is difficult to predict what effect these conditionswill have on future distributions.

Production for Waddell Ranch and the Texas Royalty Properties combined foroil and gas respectively was 51,620 bbls and 223,561 mcf. The average pricefor oil was $74.66 per bbl and for gas was $6.50 per mcf. Capitalexpenditures were approximately $1,449,149.67. The numbers provided reflectwhat was net to the Trust.

Net to Trust Sales
                             Volumes            Average Price
                          Oil       Gas            Oil        Gas
                        (bbls)     (mcf)        (per bbl)  (per mcf)

    Current Month       51,620    223,561        $74.66      $6.50

    Prior Month         54,919    189,187        $101.20     $9.44

Source: PRNewsWire

More on PBT: Gurus buys and sells of PBT 10-year financial history of PBT. Insider buys/sells of PBT.



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