PermRock Royalty Trust 8/9/2024 Earnings Report

PermRock Royalty Trust EPS Results

• Actual EPS: $0.11
• Consensus EPS: N/A
• Beat/Miss: N/A
• One Year Ago EPS: N/A

PermRock Royalty Trust Revenue Results

• Actual Revenue: $1.67 million
• Expected Revenue: N/A
• Beat/Miss: N/A
• YoY Revenue Growth: N/A

PermRock Royalty Trust Announcement Details

• Date: 8/9/2024
• Time: N/A
• Conference Call Date: N/A
• Conference Call Time: N/A

PermRock Royalty Trust (NYSE:PRT) is a Delaware statutory trust that holds overriding royalty interests in oil and gas properties located primarily in the Midland Basin of West Texas. The trust’s core business involves acquiring, managing and monetizing future royalty revenues generated by producing wells. By purchasing interests in established acreage, PermRock Royalty Trust provides investors with exposure to hydrocarbon production without the operational costs or capital requirements of exploration and development.

The trust’s asset portfolio is concentrated in one of North America’s most prolific oil and gas regions, where advancements in horizontal drilling and completions have driven significant production growth. PermRock’s royalty interests cover a diverse mix of Permian Basin targets, including several unconventional plays. Royalty streams are generated through a percentage of gross production volumes, subject to customary deductions, and are collected directly from operators under long-term lease agreements.

PermRock Royalty Trust commenced operations in late 2019 following a structured asset endorsement by Chesapeake Energy Corporation. Under the oversight of U.S. Bank Trust National Association as Trustee, day-to-day administration is supported by an advisory board of energy industry professionals. This governance structure ensures transparent reporting, diligent management of title and revenue audits, and adherence to regulatory compliance standards.

By focusing exclusively on passive royalty interests, PermRock Royalty Trust offers investors a streamlined mechanism to participate in ongoing production cash flows. With no drilling liabilities or exploration risk, the trust seeks to preserve asset value while optimizing revenue collections. Its geographically concentrated and technically established portfolio positions PermRock to benefit from continued activity in the Permian Basin’s core producing zones.