"The May payment, declared April 20, came in at $0.000473 per unit, totaling $5,757 across the entire trust. For context, the January 2026 payment was $0.019386, and as recently as mid 2022, monthly checks ran around $0.10 per unit."
"Distributions are roughly 90% lower than the 2022 peak. What makes this collapse jarring is that oil receipts actually rose. February 2026 production generated $820,000 in oil cash receipts on 13,416 barrels at about $61."
"The trouble was below that line: natural gas volumes fell to 18,797 Mcf from 34,753 Mcf, and direct operating expenses jumped to $450,000, up $110,000 on higher lease operating costs and workover charges."
PermRock Royalty Trust, which holds an 80% net profits interest in Permian Basin oil and gas wells, has seen its unit price drop significantly. Despite West Texas Intermediate crude prices nearing $100 a barrel, the trust's units fell 13% in a month and 21% over the year. The May distribution payment was drastically lower than previous years, reflecting a collapse in residual income. While oil receipts increased, natural gas volumes decreased, and operating expenses rose, leading to diminished returns for unitholders.
Read at 24/7 Wall St.
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