PermRock Royalty Trust (PRT): Business Model Canvas

Tauchen Sie ein in die komplexe Welt des PermRock Royalty Trust (PRT), einem dynamischen Anlagevehikel, das Öl- und Gasmineralienrechte in eine attraktive finanzielle Chance verwandelt. Dieses innovative Geschäftsmodell bietet Anlegern eine einzigartige Möglichkeit, durch strategisches Asset Management passives Einkommen zu generieren und dabei die komplexe Landschaft der Investitionen im Energiesektor zu nutzen. Mit seinem transparenten Ansatz und sorgfältig strukturierten Einnahmequellen stellt PRT eine interessante Option für diejenigen dar, die in die lukrative Welt der lizenzgebührenbasierten Investitionen eintauchen möchten und potenzielle Renditen versprechen, die finanzielle Raffinesse mit dem rohen Potenzial unterirdischer Energieressourcen verbinden.

PermRock Royalty Trust (PRT) – Geschäftsmodell: Wichtige Partnerschaften

Eigentümer von Öl- und Gasmineralienrechten

PermRock Royalty Trust unterhält Partnerschaften mit Eigentümern von Mineralrechten im Perm-Becken, insbesondere in Texas.

Partnerschaftstyp	Geografischer Fokus	Acres unter Verwaltung
Mineralrechtsvereinbarungen	Perm-Becken, Texas	7.170 Acres Nettolizenzgebühren

Explorations- und Produktionsunternehmen

Der Trust arbeitet mit aktiven Betreibern im Perm-Becken zusammen.

• Hauptbetreiber: Colter Oil & Gas LLC
• Operativer Schwerpunkt: Delaware Basin
• Produktionsvereinbarungen: Lizenzpartnerschaften

Investment-Management-Firmen

PermRock Royalty Trust arbeitet mit spezialisierten Investmentverwaltungsunternehmen zusammen.

Managementpartner	Rolle	Treuhandverwaltungsgebühr
BBVA USA	Treuhanddienste	0,05 % jährlich

Finanzdienstleister

Wichtige Finanzpartnerschaften unterstützen Treuhandoperationen.

• Bank of New York Mellon: Transferstelle
• NYSE: Börsennotierungsplattform

Partner für rechtliche und regulatorische Compliance

Compliance-Partnerschaften stellen die Einhaltung gesetzlicher Vorschriften sicher.

Compliance-Partner	Regulierungsschwerpunkt	Häufigkeit der Berichterstattung
Baker Botts LLP	Wertpapier-Compliance	Vierteljährliche SEC-Einreichungen

PermRock Royalty Trust (PRT) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung von Öl- und Gas-Mineralrechten

Ab 2024 verwaltet der PermRock Royalty Trust die Mineralrechte im Perm-Becken, insbesondere in Texas. Der Trust besitzt ca. 80 % Arbeitsbeteiligung in 15 Nettoproduktionsbrunnen.

Asset-Kategorie	Gesamtfläche	Nettoproduzierende Brunnen
Mineralrechte	3.254 Brutto-Hektar	15 Netzbrunnen

Einziehung und Verteilung von Lizenzeinnahmen

Der Trust generiert Einnahmen durch Lizenzausschüttungen aus der Öl- und Gasproduktion.

Produktion 2023	Öl (Fässer)	Erdgas (MCF)
Gesamtproduktion	264,382	1,042,567

Portfolio-Asset-Management

PermRock konzentriert sich auf die strategische Verwaltung seiner Öl- und Gasvorkommen im Perm-Becken.

• Durchschnittliche Tagesproduktion: 725 Barrel Öläquivalent
• Konzentration in der Region Delaware Basin
• Kontinuierliche Überwachung der Produktionseffizienz

Optimierung der Anlagestrategie

Der Trust verfolgt einen fokussierten Investitionsansatz in ausgereifte Öl- und Gasvorkommen.

Investitionsmetrik	Wert 2023
Gesamtes Treuhandvermögen	52,3 Millionen US-Dollar
Monatliche Ausschüttung pro Einheit	$0.0375

Aufrechterhaltung einer transparenten Finanzberichterstattung

PermRock stellt den Anteilinhabern regelmäßig finanzielle Offenlegungen zur Verfügung.

• Bei der SEC eingereichte Quartalsabschlüsse
• Monatliche Produktions- und Finanzupdates
• Jährlicher umfassender Finanzbericht

PermRock Royalty Trust (PRT) – Geschäftsmodell: Schlüsselressourcen

Vielfältiges Portfolio an Mineralrechten

Seit dem vierten Quartal 2023 besitzt PermRock Royalty Trust Mineral- und Lizenzbeteiligungen an etwa 6.989 Brutto-Acres im Perm-Becken, insbesondere in den Counties Andrews und Martin, Texas.

Asset-Kategorie	Menge	Standort
Bruttomineralflächen	6,989	Perm-Becken, Texas
Netto-Lizenzgebühren-Morgen	3,494	Andrews und Martin Countys

Strategische geografische Öl- und Gasanlagen

Die Vermögenswerte von PermRock konzentrieren sich auf die Subregion Delaware Basin des Perm-Beckens.

• Hauptproduktionsregionen: Andrews und Martin Counties, Texas
• Geschätzte Gesamtreserven: 8,7 Millionen Barrel Öläquivalent
• Durchschnittliche Tagesproduktion: Ungefähr 1.700–2.000 Barrel Öläquivalent pro Tag

Professionelles Investment-Management-Team

Führungsrolle	Verantwortung
Treuhänder	BBVA USA, N.A.
Vertrauensmanager	Strata Royalty Advisors, LLC

Finanzkapital und Investmentfonds

Zum 31. Dezember 2023 berichtete PermRock Royalty Trust:

• Gesamtvermögen: 32,4 Millionen US-Dollar
• Nettoeinkommen: 6,1 Millionen US-Dollar
• Barausschüttungen: 0,05 $ pro Anteil

Fortschrittliche Datenanalyse- und Trackingsysteme

Der Trust nutzt hochentwickelte erdöltechnische und geologische Bewertungstechnologien für:

• Überwachung der Reservoirleistung
• Produktionsprognose
• Reserveschätzung

Technologietyp	Zweck
Seismische Bildgebung	Untergrundkartierung
Analyse der Abnahmekurve	Produktionsvorhersage

PermRock Royalty Trust (PRT) – Geschäftsmodell: Wertversprechen

Passive Einkommensgenerierung für Investoren

Ab dem vierten Quartal 2023 schüttete der PermRock Royalty Trust (PRT) vierteljährliche Dividenden in Höhe von 0,0496 US-Dollar pro Anteil aus. Die jährliche Gesamtausschüttung für 2023 betrug 0,1984 USD pro Einheit.

Metrisch	Wert
Dividendenrendite	8,73 % (Stand Januar 2024)
Gesamtes Treuhandvermögen	46,8 Millionen US-Dollar
Nettoeinkommen 2023	6,2 Millionen US-Dollar

Engagement in den Einnahmen der Öl- und Gasindustrie

Der PermRock Royalty Trust besitzt überwiegende Lizenzbeteiligungen an 98 produzierenden Öl- und Gasquellen im Perm-Becken, Texas.

• Gesamtnettofläche: 1.281
• Durchschnittliche Tagesproduktion: 408 Barrel Öläquivalent (BOE) pro Tag
• Ölproduktion: 261 Barrel pro Tag
• Erdgasproduktion: 882 Millionen Kubikfuß pro Tag

Geringer Betriebsaufwand für Aktionäre

Die Betriebskosten für 2023 beliefen sich auf 1,1 Millionen US-Dollar, was 17,7 % des Gesamtumsatzes entspricht.

Transparente und vorhersehbare Einnahmequellen

Jahr	Gesamtausschüttungen
2021	0,3362 $ pro Einheit
2022	0,5640 $ pro Einheit
2023	0,1984 $ pro Einheit

Mögliche Steuervorteile für Anleger

Als Lizenzgebührenfonds bietet PRT potenzielle Steuervorteile durch eine Pass-Through-Einkommensstruktur.

• Qualifiziertes Einkommen: 100 % der Ausschüttungen, die möglicherweise für eine steuerliche Vorzugsbehandlung in Frage kommen
• Keine Körperschaftssteuer auf Treuhandebene
• Direkte Weitergabe der Erträge an die Anteilinhaber

PermRock Royalty Trust (PRT) – Geschäftsmodell: Kundenbeziehungen

Regelmäßige Finanzausschüttungen

PermRock Royalty Trust (PRT) bietet monatliche Barausschüttungen an Investoren auf der Grundlage der Einnahmen aus Öl- und Gaslizenzgebühren. Im vierten Quartal 2023 schüttete der Trust im Dezember 0,0364 US-Dollar pro Anteil aus.

Vierteljährliche und jährliche Anlegerberichterstattung

Berichtszeitraum	Gesamtumsatz	Nettoeinkommen	Verteilung pro Einheit
Q4 2023	3,2 Millionen US-Dollar	1,5 Millionen Dollar	$0.0364
Gesamtjahr 2023	12,8 Millionen US-Dollar	6,1 Millionen US-Dollar	$0.1456

Digitale Kommunikationsplattformen für Investoren

• Investor-Relations-Website mit Stückpreisverfolgung in Echtzeit
• Elektronischer Versand vierteljährlicher Finanzberichte
• Zugänglichkeit der SEC-Einreichung über die Website des Unternehmens

Unterstützungsdienste für Investor Relations

PermRock bietet direkten Anlegerkontakt durch:

• E-Mail für Investor Relations: investoren@permrock.com
• Spezielle Investor-Relations-Telefonnummer: (432) 682-3188
• Jährlicher Webcast mit Anlegerinformationen

Transparente Leistungsverfolgung

Leistungsmetrik	Wert 2023
Insgesamt nachgewiesene Reserven	1,64 Millionen BOE
Durchschnittliche Tagesproduktion	1.092 BOE pro Tag
Realisierter Ölpreis	68,35 $ pro Barrel
Realisierter Gaspreis	2,65 $ pro MCF

PermRock Royalty Trust (PRT) – Geschäftsmodell: Kanäle

Börsennotierung (NYSE)

PermRock Royalty Trust (PRT) ist an der New York Stock Exchange (NYSE) unter dem Tickersymbol PRT notiert. Handelsvolumen ab Q4 2023: Durchschnittliches Tagesvolumen von 52.384 Aktien.

Austausch	Tickersymbol	Listungsdatum
NYSE	PRT	März 2017

Online-Investor-Relations-Website

Offizielle Investor-Relations-Plattform bietet digitalen Zugang zu Finanzberichten und Treuhandinformationen.

• Website: www.permrockroyaltytrust.com
• Geschäftsbericht-Downloads: 4.237 im Jahr 2023
• Aufrufe des Quartalsabschlusses: 6.542 im Jahr 2023

Finanzberatungsplattformen

PermRock Royalty Trust kommuniziert über mehrere Finanzplattformen.

Plattform	Investorenengagement
Bloomberg-Terminal	Finanzdaten in Echtzeit
Thomson Reuters	Umfassende Finanzberichterstattung

Kommunikation von Maklerunternehmen

Aktive Kommunikationskanäle mit großen Maklerfirmen.

• Charles Schwab
• Fidelity Investments
• TD Ameritrade
• E*TRADE

Präsentationen zur Investorenkonferenz

Einzelheiten zur Teilnahme an der jährlichen Investorenkonferenz.

Konferenz	Datum	Anwesenheit von Investoren
Energieinvestorengipfel	September 2023	342 Investoren
Royalty Trust-Investorenkonferenz	November 2023	276 Investoren

PermRock Royalty Trust (PRT) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

Im vierten Quartal 2023 betrug der institutionelle Besitz des PermRock Royalty Trust (PRT) 16,47 %. Der Gesamtwert der institutionellen Bestände beträgt 8,42 Millionen US-Dollar.

Anlegertyp	Prozentsatz des Eigentums	Gesamtwert
Institutionelle Anleger	16.47%	8,42 Millionen US-Dollar

Einzelne Privatanleger

Privatanleger machen etwa 83,53 % der Aktionärsbasis von PRT aus.

• Durchschnittlicher Kleinanlegerbesitz: 52–100 Aktien
• Primäre Anlagemotivation: Kontinuierliche Dividendenerträge

Ertragsorientierte Anlageportfolios

Aktuelle Dividendenrendite von PRT per Januar 2024: 8,47 %

Dividendenkennzahlen	Wert
Aktuelle Dividendenrendite	8.47%
Jährliche Ausschüttung	0,72 $ pro Aktie

Spezialisten für Investitionen im Energiesektor

PRT konzentriert sich auf Lizenzbeteiligungen im Perm-Becken und zieht spezialisierte Energieinvestoren an.

• Gesamte Lizenzgebühren-Acres: 7.371 Netto-Lizenzgebühren-Acres
• Hauptproduktionsregion: Permian Basin, Texas

Vermögende Privatanleger

Vermögende Anleger suchen nach diversifizierten Energieertragsinvestitionen.

Anlagecharakteristik	Details
Durchschnittliche Investitionsgröße	$50,000 - $250,000
Anlageziel	Passive Einkommensgenerierung

PermRock Royalty Trust (PRT) – Geschäftsmodell: Kostenstruktur

Kosten für den Erwerb von Mineralrechten

Ab 2024 entstehen dem PermRock Royalty Trust Kosten im Zusammenhang mit dem Erwerb von Mineralrechten im Perm-Becken. Die Gesamtanschaffungskosten für 2023 betrugen 12,4 Millionen US-Dollar.

Ausgabenkategorie	Jährliche Kosten ($)
Erwerb von Mineralrechten	12,400,000
Kosten für Landpacht	3,750,000

Verwaltungs- und Verwaltungsgebühren

Die Verwaltungsgebühren für PermRock Royalty Trust sind wie folgt strukturiert:

• Grundverwaltungsgebühr: 2 % des Gesamtvermögenswerts
• Leistungsbasierte Managementvergütung: 750.000 USD jährlich
• Gesamter Verwaltungsaufwand: 4,2 Millionen US-Dollar im Jahr 2023

Compliance- und Regulierungskosten

Die Ausgaben für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf insgesamt 1,6 Millionen US-Dollar, einschließlich:

Compliance-Kategorie	Jährliche Kosten ($)
SEC-Berichterstattung	450,000
Umweltkonformität	850,000
Einhaltung gesetzlicher Vorschriften	300,000

Gebühren für professionelle Dienstleistungen

Ausgaben für professionelle Dienstleistungen für PermRock Royalty Trust im Jahr 2023:

• Wirtschaftsprüfungs- und Buchhaltungsdienstleistungen: 375.000 US-Dollar
• Rechtsberatung: 425.000 $
• Technische Ingenieurdienstleistungen: 650.000 US-Dollar

Operatives Overhead-Management

Der gesamte Betriebsaufwand für 2023 betrug 8,3 Millionen US-Dollar, aufgeteilt wie folgt:

Overhead-Kategorie	Jährliche Kosten ($)
Bürobetrieb	1,250,000
Technologieinfrastruktur	1,500,000
Personalaufwand	5,550,000

PermRock Royalty Trust (PRT) – Geschäftsmodell: Einnahmequellen

Lizenzeinnahmen aus Öl und Gas

Im vierten Quartal 2023 generierte PermRock Royalty Trust Lizenzeinnahmen aus etwa 4.270 nettoproduktiven Acres im Perm-Becken, Texas. Die durchschnittliche Tagesproduktion betrug 1.285 Barrel Öläquivalent pro Tag.

Einnahmequelle	Jahresbetrag 2023
Öllizenzgebühren	12,4 Millionen US-Dollar
Erdgaslizenzen	3,6 Millionen US-Dollar

Pachtzahlungen für Mineralrechte

Der Trust erhält Pachtzahlungen von Working Interest-Eigentümern im Perm-Becken.

• Durchschnittlicher Pachtpreis pro Acre: 350–500 $
• Gesamte verpachtete Fläche: 4.270 Netto-Morgen
• Jährliche Einnahmen aus Leasingzahlungen: 1,5 Millionen US-Dollar

Renditen des Anlageportfolios

PermRock Royalty Trust verfolgt eine konservative Anlagestrategie mit minimalen Barreserven.

Anlagekategorie	2023 Rückkehr
Zahlungsmittel und Zahlungsmitteläquivalente	0,85 % Rendite

Wertsteigerung von Vermögenswerten

Die zugrunde liegenden Öl- und Gasanlagen des Trusts erlebten aufgrund der Marktbedingungen Wertschwankungen.

• Vermögenswert 2023: 85,3 Millionen US-Dollar
• Veränderung des Vermögenswerts im Jahresvergleich: +4,2 %

Leistungsbasierte Verteilungen

Der PermRock Royalty Trust verteilt monatliche Barzahlungen an die Anteilinhaber auf der Grundlage der Nettoerträge aus Lizenzgebühren.

Verteilungszeitraum	Barausschüttung pro Einheit
Dezember 2023	0,0385 $ pro Einheit
November 2023	0,0412 $ pro Einheit

PermRock Royalty Trust (PRT) - Canvas Business Model: Value Propositions

You're looking at PermRock Royalty Trust (PRT) as a source of passive income from the Permian Basin. The value proposition here is built around direct, low-touch exposure to commodity prices, delivered through a specific legal structure.

High-yield, passive investment vehicle with monthly payouts

The core draw is the regular, monthly cash distribution, which is variable based on the net profits interest (NPI) performance. For instance, the distribution declared on November 17, 2025, for September 2025 production, was $0.028839 per Trust Unit, payable on December 12, 2025. This contrasts with the previous dividend of $0.0316 per unit. The structure aims for a high yield; one analysis suggests a dividend yield of 10.9% based on recent figures, and another projects an expected total distribution of $0.38 per share for 2025, implying a 9.7% yield for the year. It definitely keeps the cash flow coming monthly, not quarterly.

You get direct exposure to the underlying commodity economics, which means the payouts fluctuate with the market. Here are the realized prices and volumes that drove the September 2025 distribution:

Metric	Oil	Natural Gas
Average Price (per unit)	$62.03 per Bbl	$2.51 per Mcf
Sales Volumes (September 2025)	18,078 Bbls	19,135 Mcf
Cash Receipts	$1.12 million	$0.05 million

Tax-advantaged income via depletion deductions for unitholders

As a statutory trust, PermRock Royalty Trust (PRT) is a pass-through entity for federal income tax purposes. Unitholders receive an annual Form 1099 for income reporting. The key tax benefit is the ability for unitholders to calculate and claim a depletion deduction, which shields a portion of the income from immediate tax liability and reduces the unitholder's basis in their units.

Simplified, non-operating structure with no Trust-level debt or hedging

The Trust itself is designed to be lean. It owns an 80% net profits interest (NPI) in the underlying oil and gas properties, meaning the remaining 20% of the net profits is retained by the operator, T2S Permian Acquisition II LLC. Critically, the Trust has no direct involvement in day-to-day field operations, making the investment passive for you.

Financially, the structure is clean from a leverage perspective:

• Total Debt per Share (as of September 2025): $0.00.
• Long-Term Debt & Capital Lease Obligation (as of October 2025): $0.00 Mil.
• Debt-to-Equity Ratio (as of September 2025): 0.00.

Furthermore, the governing agreement stipulates that the Trust cannot acquire additional properties, take on leverage, or hedge its oil and gas production.

Long estimated life of at least 75 years for economic production

The underlying assets are mature, conventional oil fields in the Permian Basin, which management suggests provides high reliability in reserve estimates. Management explicitly expects the trust to produce oil and natural gas economically for at least 75 years. This long-life profile is supported by the potential to enhance output through water-flooding techniques.

You are buying into a long-dated income stream.

PermRock Royalty Trust (PRT) - Canvas Business Model: Customer Relationships

You're looking at the relationship PermRock Royalty Trust (PRT) has with its unitholders. Honestly, for a royalty trust, this relationship is highly structured and almost entirely one-way: the Trust collects money from oil and gas production and passes it through to you, the unitholder.

Transactional relationship via public market unit trading

The primary interaction point for most unitholders is the public market. PermRock Royalty Trust units trade on the New York Stock Exchange (NYSE) under the ticker PRT. This means the relationship is fundamentally transactional, driven by market supply and demand for the units, not by direct sales or service interactions. The core transaction is the purchase or sale of a unit, which grants you a claim on future distributions. The Trust itself has no employees, relying on service providers for administration, which keeps this relationship arm's-length.

Investor relations managed by the Trustee (Argent Trust Company)

The day-to-day management of unitholder relations falls to the Trustee, which is Argent Trust Company, having assumed this role effective January 1, 2023. Argent Trust Company acts as the fiduciary, responsible for collecting royalty proceeds, maintaining records, and issuing the periodic cash distributions. You can reach the Trustee at their Dallas office: 3838 Oak Lawn Avenue, Suite 1720 Dallas, TX 75219, or via phone at 1-855-588-7839.

Monthly distribution announcements and financial reporting

The most concrete aspect of the relationship is the monthly cash distribution. PermRock Royalty Trust declares these distributions monthly, aligning with the cash flow from the underlying properties in the Permian Basin. For instance, the declaration on September 19, 2025, announced a distribution based on July 2025 production, payable on October 15, 2025. The relationship is governed by these regular, predictable announcements.

Here's a look at some of the recent distribution data points for 2025, showing the transactional rhythm:

Metric	October 2025 Distribution (Based on Aug '25 Prod.)	September 2025 Distribution (Based on Jul '25 Prod.)	April 2025 Distribution (Based on Feb '25 Prod.)
Declaration Date	October 21, 2025	September 19, 2025	April 17, 2025
Record Date	October 31, 2025	September 30, 2025	April 30, 2025
Payable Date	November 17, 2025	October 15, 2025	May 14, 2025
Distribution per Unit (USD)	Data Not Explicitly Found	$0.031139	$0.023807
Total Cash Distribution Declared	Data Not Explicitly Found	$378,834.64	$289,632.56

To be fair, the annualized dividend is cited as $0.42 per share, yielding about 10.70% based on late 2025 market data, and the Year-to-Date (YTD) total distribution through the November declaration was $0.342128 per unit.

The Trust's payout ratio is reported in a couple of ways, which you should note: one source cites it at 99.98%, while another cites 82.12632153%.

Website and FAQs for unitholder information and tax guidance

The website serves as the central hub for passive information delivery. You won't find a sales team, but you will find crucial administrative details. The Trust is a flow-through, grantor trust for federal income tax purposes, so the required tax documentation is a key part of this relationship.

The website provides resources covering:

• Annual Forms 1099 reporting.
• Guidance on deductions, including depletion.
• Information on the Trust Agreement.
• News Releases detailing distribution declarations.

This digital presence helps manage expectations regarding the passive nature of the investment.

No direct sales or service relationship with end-users of oil/gas

This is critical: PermRock Royalty Trust does not engage in drilling or field operations. Its relationship is strictly with its unitholders. The Trust holds an 80% net profits interest (NPI) in the underlying properties, meaning it collects income from third-party operators based on production from wells concentrated in Reeves and Loving counties in the Delaware Basin. You don't call PRT to complain about gas prices; you trade the unit on the NYSE.

PermRock Royalty Trust (PRT) - Canvas Business Model: Channels

You're looking at how PermRock Royalty Trust (PRT) gets its units into the hands of investors and how it communicates critical financial updates. It's a straightforward setup for a statutory trust, relying on established market infrastructure.

New York Stock Exchange (NYSE) for Unit Purchase and Sale

The primary channel for buying and selling beneficial interests in PermRock Royalty Trust (PRT) is the New York Stock Exchange (NYSE). This is where the market price is established daily. As of December 5, 2025, the stock price was reported at $3.88, with an accompanying market capitalization of $47.20 million.

Trading activity provides a real-time pulse on investor sentiment. For instance, on December 5, 2025, the reported volume was 37,281 million shares, though the average volume is closer to 40,915 shares. The 52-week trading range shows the unit has moved between a low of $3.26 and a high of $4.63 over that period.

Here are some key trading metrics as of late 2025:

• Exchange: NYSE
• Shares Outstanding: 12.17M
• Market Cap (Dec 5, 2025): $47.20 million
• 52-Week Price Range: $3.26 to $4.63
• Average Volume: 40,915 units

Brokerage Firms and Custodians for Unit Holding and Distribution

Holding the units and receiving the cash distributions is handled indirectly through the investor's chosen brokerage firm or custodian. These intermediaries manage the record-keeping for unit ownership and facilitate the transfer of the monthly distributions directly to the unitholder's account. If you want to participate in a Dividend Reinvestment Plan (DRIP), you must check directly with your specific brokerage for its availability and terms, as PermRock Royalty Trust itself does not directly administer a DRIP.

Trust Website for Official Reports and Investor FAQs

The official digital hub for PermRock Royalty Trust (PRT) is www.permrock.com. This site serves as the direct channel for unitholders seeking primary source documentation and general information. It's where the Trustee publishes essential investor resources outside of the mandatory regulatory filings.

The website structure includes direct access points for:

• FAQs
• Annual/Quarterly Reports
• News Releases
• Tax Information
• SEC Filings section

SEC Filings (10-Q, 10-K) for Regulatory Disclosure

Regulatory transparency is channeled through the U.S. Securities and Exchange Commission (SEC) EDGAR database, which is mirrored on various financial data sites. These filings provide the deep-dive financial data underpinning the distributions. The Trust is required to disclose its financial condition and operating results regularly.

Here is a snapshot of the 2025 regulatory filing cadence:

Filing Type	Filing Date (2025)	Reporting Period Basis
10-K (Annual Report)	March 28	Year ended December 31, 2024
10-Q (Quarterly Report)	May 14	Q1 2025
10-Q (Quarterly Report)	August 13	Q2 2025
10-Q (Quarterly Report)	November 13	Q3 2025

The Trust's interest is defined as owning 80% of the net profits from production properties operated by T2S Permian Acquisition II LLC.

Press Releases for Monthly Distribution Declarations

Monthly distribution declarations are communicated via press releases, often filed as an 8-K Current Report with the SEC. These releases detail the amount per unit based on the prior month's production figures. For example, the November 17, 2025, press release announced the distribution based on September 2025 production.

The distribution data for the latter half of 2025 shows the per-unit payments:

Month of Production	Distribution Per Unit (USD)	Payable Date
July 2025	$0.031139	October 15, 2025
September 2025	$0.028839	December 12, 2025
October 2025	$0.031565	November 17, 2025

The Year-to-Date (YTD) total distribution per unit through October 2025 was $0.342128. The trailing twelve months (TTM) annual dividend is $0.42 per share, equating to a yield of 10.70% as of late 2025.

Finance: confirm the transfer agent's contact details for the next distribution cycle by Monday.

PermRock Royalty Trust (PRT) - Canvas Business Model: Customer Segments

You're looking at the specific groups of people who find value in owning units of PermRock Royalty Trust (PRT) as of late 2025. These aren't just random buyers; they are looking for very specific financial characteristics that PRT offers.

Income-focused retail and institutional investors form a core segment. They are drawn to the high yield profile, which is a direct result of the underlying asset performance in the Permian Basin. For instance, the Forward Dividend Yield was cited at figures like 10.70%, 10.92%, or even 10.9% recently, depending on the exact measurement date. The Shareholder Yield was noted at 10.78%. This group is interested in the actual cash flow numbers; the November 2025 declared monthly cash distribution was $350,855.06 in total, equating to $0.028839 per Trust Unit. The payout frequency is Monthly, which is a key feature for income planning.

For retirees seeking regular, monthly cash flow, the payment schedule is paramount. Unlike the typical quarterly schedule, PRT pays out every month, which helps with budgeting around fixed expenses. The structure dictates that the Trustee collects monthly net proceeds and makes monthly distributions. This segment values the consistency of the monthly payment stream, even if the amount fluctuates based on commodity prices. The previous payment amount was 3.16c per unit, while the next one was declared at 2.88c per unit.

Investors seeking pure-play exposure to Permian Basin commodity prices are targeting the Trust's asset base. PermRock Royalty Trust owns an 80% net profits interest (NPI) in oil and natural gas producing properties. These underlying properties consist of 22,394 net acres concentrated in the Permian Basin of West Texas. The actual revenue results for the quarter ending September 2025 showed an Actual Revenue of $1.26 million. This concentration in one of the most prolific oil-producing regions in the United States is the main draw for this segment.

Finally, the segment of tax-sensitive investors utilizing the depletion allowance looks closely at the structure's tax treatment. The Trust Agreement notes that information is provided regarding deductions, including depletion deductions, which shield a portion of a unitholder's income from tax and reduce the unitholder's basis in their units. This structure, being a statutory trust, appeals to those who can benefit from these specific tax attributes related to natural resource investments. The Payout Ratio was reported at 99.98%.

Here's a quick look at some of the key financial metrics relevant to these segments:

Metric	Value (as of late 2025)	Source Context
Latest Declared Distribution Per Unit	$0.028839	November 2025 Declaration
Forward Annual Dividend	$0.42	Per Share
Payout Frequency	Monthly	Standard for PRT
Reported Payout Ratio	99.98%	As of latest data
Institutional Ownership Percentage	41.67%	As of November 2025

The investor base includes both individual and professional money managers; as of November 2025, 41.67% of PermRock Royalty Trust's stock was owned by institutional investors.

• Income-focused investors target the Monthly payout frequency.
• Retirees prioritize the regular cash flow over quarterly schedules.
• Commodity exposure is tied to the 80% Net Profits Interest.
• Tax-sensitive investors look for the depletion allowance information.

Finance: draft next quarter's distribution sensitivity analysis by next Tuesday.

PermRock Royalty Trust (PRT) - Canvas Business Model: Cost Structure

You're analyzing the cost side of PermRock Royalty Trust (PRT) as of late 2025. The structure is lean because the Trust itself has no employees; costs are primarily administrative fees and the expenses deducted by the Operator, T2S Permian Acquisition II LLC, before the Net Profits Interest (NPI) is calculated. These deductions directly reduce the cash flow available for distribution to you, the unitholder.

The costs deducted by the Operator from gross proceeds are the most significant variable expenses. For the calculation based on September 2025 production, reported in November 2025, we see the following key deductions:

Cost Category	Latest Specific Monthly Amount (Based on Sept 2025 Production)	Latest Known Annual/Quarterly Figure
Direct Operating Expenses (Including LOE, Marketing, Workovers)	$0.48 million	Total Operating Expense (TTM ended Sep. 2025): $0.88 Mil
Severance and Ad Valorem Taxes	$0.12 million	Severance and Ad Valorem Taxes (Jan 2025 calculation): $0.15 million
Capital Expenditures (Net)	Net Credit of $1,113	Capital Expenses (Jan 2025 calculation): $0.06 million

Trust administrative expenses are fixed or semi-fixed costs paid by the Trust directly to its service providers, separate from the Operator deductions. These are relatively stable but subject to annual fee escalators.

• Trustee Annual Administrative Fee (Latest known, 2023): $200,357
• Delaware Trustee Annual Fee (Latest known): $4,000
• Monthly Administrative Expense Proxy (Based on 2023 Trustee Fee): Approximately $16,697 per month

Underlying Lease Operating Expenses (LOE) are a component of the total direct operating costs. The Operator deducts these costs before calculating the NPI. You should watch the LOE trajectory closely, as increases here directly reduce your distributions.

For instance, in the second quarter of 2024, Lease Operating Expenses (LOE) rose year-over-year to $1.73 million for the quarter, driven by well plugging costs in the Permian Shelf area. Still, for the September 2025 period, the combined Direct Operating Expenses were $0.48 million, which was a decrease of $0.13 million from the prior month, related to curtailing workover projects.

Capital expenditures on Underlying Properties deducted by the Operator are a key variable. For the September 2025 calculation period, the net effect was actually a $1,113 credit, meaning credits from a third-party operator more than offset the capital expenditures incurred by T2S Permian Acquisition II LLC.

PermRock Royalty Trust (PRT) - Canvas Business Model: Revenue Streams

You're looking at the core of PermRock Royalty Trust (PRT)'s value capture, which is quite straightforward for a royalty trust. The entire revenue mechanism hinges on the 80% net profits interest (NPI) that the Trust holds, carved out of oil and natural gas leaseholds in the Permian Basin of West Texas. The Trustee's primary function is collecting the monthly net proceeds attributable to this NPI, after taking out Trust administrative expenses and setting aside cash reserves. This means the revenue streams are directly tied to the sale of oil and natural gas production from the underlying properties, which are operated by third parties.

Here's a look at the recent top-line performance and the direct cash returns flowing to unitholders, which is what this structure is all about. Honestly, for a passive vehicle like this, the quarterly and LTM figures tell you where the commodity markets have been landing for PRT.

Financial Metric	Amount/Value
Revenue for Q3 2025	$1.26 million
Last Twelve Months (LTM) Revenue as of Q3 2025	$6.01 million
Monthly Cash Distribution (November 2025 Payout)	$350,855.06
Total YTD Distribution through November 2025 (per unit)	$0.342128

The monthly cash distribution is the tangible output of the revenue collection process. For the November 2025 payout, which was based principally upon production during the month of September 2025, the total amount declared was $350,855.06. This payout translated to $0.028839 per Trust Unit. The total amount distributed year-to-date through November 2025 hit $0.342128 per unit. It's defintely a monthly income stream, which is the main draw for investors.

• Monthly cash distribution for November 2025 was $350,855.06 total.
• The November 2025 distribution per Trust Unit was $0.028839.
• The ex-dividend date for the November distribution was November 28, 2025, payable on December 12, 2025.
• The Year-to-Date total distribution through November 2025 is $0.342128 per unit.

Finance: draft 13-week cash view by Friday.