Permianville Royalty Trust Reports April 2025 Operational Update

Permianville Royalty Trust has announced a monthly operational update, with reported oil production for January 2025 and natural gas production for December 2024. The net profits interest calculation includes accrued costs incurred in February 2025. Due to a cumulative net profits shortfall of $0.6 million, no distribution will be paid in May 2025 to unitholders. Recorded oil cash receipts totaled $2.8 million, while natural gas cash receipts reached $1.0 million.

HOUSTON, April 18, 2025 — Permianville Royalty Trust (NYSE: PVL), a Delaware statutory trust, has released its monthly operational update for April 2025. The update includes reported oil production for January 2025 and natural gas production for December 2024. The net profits interest calculation, which also includes accrued costs incurred in February 2025, indicates a cumulative net profits shortfall of approximately $0.6 million. As a result, no distribution will be paid in May 2025 to the Trust’s unitholders of record on April 30, 2025.

The reported oil sales volumes for the current month were 37,927 barrels (Bbls) with an average price of $72.92 per Bbl, while natural gas sales volumes reached 379,445 million cubic feet (Mcf) at an average price of $2.66 per Mcf. Recorded oil cash receipts totaled $2.8 million, and natural gas cash receipts reached $1.0 million.

Operating expenses decreased by $0.2 million to $2.1 million, while capital expenditures remained consistent at $1.0 million. The capital expenditures in the current period were primarily due to the drilling and completion of three Haynesville wells operated by a public super major oil company.

The cumulative shortfall in net profits for the current month will be deducted from any net profits in the next month’s net profits interest calculation. The Trust will not receive proceeds pursuant to its net profits interest until the cumulative net profits shortfall is eliminated. Additionally, if the Trust’s cash on hand is not sufficient to pay ordinary course administrative expenses and the Trust borrows funds or draws on the letter of credit provided to the Trust, or if COERT Holdings 1 LLC (the “Sponsor”) advances funds to the Trust to pay such expenses, no further distributions will be made to Trust unitholders until such amounts borrowed or drawn, or advanced to the Trust, are repaid.

The Sponsor anticipates that the Underlying Properties will return to generating positive net profits in 2025. Excluding the current shortfall, income from the net profits interest would have been approximately $0.5 million in the current month, or $0.015941 per unit.

References:
[1] https://www.businesswire.com/news/home/20250417951479/en/Permianville-Royalty-Trust-Announces-Monthly-Operational-Update
[2] https://www.stocktitan.net/news/PVL/permianville-royalty-trust-announces-monthly-operational-3oojtai2u9ie.html