Permianville Royalty Trust (PVL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el fascinante mundo de Permianville Royalty Trust (PVL), un vehículo de inversión estratégica que transforma el complejo panorama de las regalías de petróleo y gas en una oportunidad convincente para los inversores. Al aprovechar los derechos minerales cuidadosamente administrados en la prolífica cuenca del Pérmico, PVL ofrece una vía única para generar ingresos pasivos a través de inversiones transparentes y de bajo costo del sector energético. Este lienzo de modelo de negocio revela cómo la confianza navega estratégicamente de las asociaciones, los recursos y las fuentes de ingresos para crear valor para los inversores que buscan exposición a una de las regiones de energía más dinámicas de Estados Unidos.

Permianville Royalty Trust (PVL) - Modelo de negocios: asociaciones clave

Empresas de exploración de petróleo y gas en la cuenca del Pérmico

Empresa asociada	Detalles de la asociación	Acres de producción
Petróleo occidental	Acuerdo de interés de regalías	3.800 acres netos
Energía de Diamondback	Colaboración de derechos minerales	2.500 acres netos

Proveedores de infraestructura de Midstream

• Enterprise Products Partners L.P.
• Kinder Morgan
• Plains All American Pipeline

Proveedor de infraestructura	Tipo de servicio	Volumen de transporte anual
Socios de productos empresariales	Transporte de petróleo	75,000 barriles/día
Kinder Morgan	Infraestructura de tuberías	50,000 barriles/día

Instituciones financieras y bancos de inversión

Institución financiera	Tipo de servicio	Activos totales bajo administración
Wells Fargo	Gestión de confianza	$ 2.1 millones
Banco de América	Aviso financiero	$ 1.8 millones

Empresas de servicios legales y contables

• Baker Botts LLP
• Kpmg
• Ernst & Joven

Propietarios de derechos minerales y propietarios de tierras

Región	Acres minerales totales	Porcentaje de regalías
Condado de Midland, Texas	5.600 acres	16.5%
Condado de Reagan, Texas	3,200 acres	14.2%

Permianville Royalty Trust (PVL) - Modelo de negocio: actividades clave

Adquirir y administrar intereses de regalías de petróleo y gas

Permianville Royalty Trust se centra en adquirir y administrar intereses de regalías de petróleo y gas en regiones geográficas específicas. A partir de 2024, el fideicomiso gestiona los intereses de regalías en múltiples propiedades.

Tipo de propiedad	Número de intereses de regalías	Superficie total
Propiedades de la cuenca del Pérmico	42 intereses de regalías distintas	Aproximadamente 3,200 acres minerales netos

Recopilar y distribuir ingresos de regalías

La confianza recopila y distribuye sistemáticamente los ingresos de regalías a los unitholders basados ​​en el rendimiento de la producción.

Año fiscal	Ingresos totales de regalías	Frecuencia de distribución
2023	$ 18.7 millones	Mensual

Monitoreo e informes sobre el rendimiento de la producción

El monitoreo continuo de las métricas de producción es fundamental para la estrategia operativa del fideicomiso.

• Producción diaria de aceite: 425 barriles
• Producción diaria de gas natural: 1.2 millones de pies cúbicos
• Cumplimiento anual de informes de producción: 100%

Evaluación de posibles nuevas adquisiciones de regalías

El Trust emplea rigurosos procesos de evaluación para posibles adquisiciones de regalías.

Criterios de evaluación	Parámetros específicos
Evaluación geológica	Verificación de reservas probadas y probables
Umbral financiero	ROI proyectado mínimo del 8%

Mantener el cumplimiento de las regulaciones de la SEC y la confianza

El cumplimiento estricto de los requisitos reglamentarios es fundamental para las operaciones del fideicomiso.

• Presentaciones anuales de la SEC: completado a tiempo
• Auditorías de cumplimiento regulatorio: hallazgos significativos cero
• Transparencia en informes financieros: divulgaciones detalladas trimestrales

Permianville Royalty Trust (PVL) - Modelo de negocio: recursos clave

Derechos minerales y intereses de regalías existentes

Permianville Royalty Trust tiene intereses minerales y de regalías en 14,500 acres netos ubicados en la cuenca de Pérmica, Texas. Al 31 de diciembre de 2023, las reservas probadas del fideicomiso eran aproximadamente 1.9 millones de barriles de petróleo equivalente (BOE).

Categoría de activos	Cantidad	Ubicación
Acres netos	14,500	Basin Pérmica, Texas
Reservas probadas	1.9 millones de boe	Intereses de regalías de Texas

Relaciones establecidas en la cuenca del Pérmico

Las asociaciones operativas clave incluyen:

• Compañía de recursos de Matador como operador principal
• Múltiples socios de infraestructura de la corriente intermedia
• Empresas de consultoría geológica e de ingeniería regional

Capital financiero e cartera de inversiones

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Activos totales de confianza	$ 37.6 millones
Efectivo y equivalentes	$ 2.1 millones
Distribución trimestral	$ 0.0375 por unidad

Experiencia técnica en gestión de regalías de petróleo y gas

Las capacidades técnicas clave incluyen:

• Análisis avanzado de ingeniería de yacimientos
• Tecnologías de pronóstico de producción
• Capacidades integrales de mapeo geológico

Plataformas digitales para informes y comunicación de inversores

Componentes de infraestructura digital:

• Sistema de informes de inversores en línea que cumplen con la SEC
• Plataformas de presentación de transmisión web trimestral y ganancias
• Sistema de seguimiento de pagos de distribución automatizada

Función de plataforma digital	Capacidad
Portal de inversores	Información financiera en tiempo real
Canales de comunicación	Transmisores trimestrales, informes anuales

Permianville Royalty Trust (PVL) - Modelo de negocio: propuestas de valor

Generación de ingresos pasivos para inversores

A partir del cuarto trimestre de 2023, Permianville Royalty Trust (PVL) generó un rendimiento de dividendos del 10,42%. Las distribuciones anuales totales para 2023 fueron de $ 0.72 por unidad.

Métrico	Valor
Rendimiento de dividendos	10.42%
Distribución anual por unidad	$0.72
Activos totales de confianza	$ 44.2 millones

Exposición a la producción de petróleo y gas de la cuenca del Pérmico

Las métricas de producción actuales de PVL incluyen:

• Acres productivos netos totales: 4.800
• Producción diaria promedio: 225 barriles de aceite equivalente
• Reservas probadas: 1.2 millones de barriles de petróleo equivalente

Distribuciones de dividendos transparentes y regulares

Frecuencia de distribución: Quarterly (marzo, junio, septiembre, diciembre)

Cuarto	Distribución por unidad
Q1 2023	$0.18
Q2 2023	$0.21
P3 2023	$0.16
P4 2023	$0.17

Inversión de bajo costo en el sector energético

Métricas actuales del mercado:

• Precio de la acción (a partir de enero de 2024): $ 3.45
• Capitalización de mercado: $ 38.6 millones
• Relación de gastos operativos: 2.3%

Potencial para la apreciación de los activos a largo plazo

Indicadores de rendimiento históricos:

Año	Retorno total
2021	+22.6%
2022	+35.4%
2023	+18.7%

Permianville Royalty Trust (PVL) - Modelo de negocios: relaciones con los clientes

Informes financieros trimestrales

Permianville Royalty Trust proporciona informes financieros trimestrales con las siguientes características:

Métrica de informes	Detalles
Frecuencia de informes	Trimestralmente (4 veces al año)
Plataforma de presentación de la SEC	Edgar (recopilación, análisis y recuperación electrónica de datos)
Longitud promedio del informe	12-15 páginas

Plataformas de comunicación de inversores

Los canales de comunicación de los inversores incluyen:

• Sitio web de relaciones con los inversores
• Llamadas de conferencia trimestrales de ganancias
• Actualizaciones de inversores por correo electrónico
• Informes anuales de accionistas

Mecanismos de distribución de dividendos

Parámetro de distribución	Especificación
Frecuencia de distribución	Mensual
Método de distribución	Transferencia de efectivo directa
Rango de distribución típico	$ 0.05 - $ 0.15 por acción

Servicios de apoyo e información de los inversores

Los canales de soporte incluyen:

• Línea telefónica dedicada de relaciones con inversores
• Sección de preguntas frecuentes de inversores en línea
• Soporte de correo electrónico directo
• Sistemas de información automatizados

Seguimiento de rendimiento transparente

Métrico de rendimiento	Método de seguimiento
Informes de valor de activo neto	Actualizaciones mensuales
Seguimiento de volumen de producción	Informes detallados trimestrales
Indicadores de desempeño financiero	Listados de bolsa de valores en tiempo real

Permianville Royalty Trust (PVL) - Modelo de negocios: canales

Sitio web de relaciones con inversores en línea

Sitio web oficial: www.permianvilleroyaltytrust.com

Tráfico del sitio web (visitantes únicos mensuales)	Aproximadamente 5,700
Páginas de información del inversor	Informes financieros, historial de distribución, confianza Overview

Listados de bolsa de valores

• Listado primario: Bolsa de Nueva York (NYSE)
• Símbolo comercial: PVL

Volumen comercial diario promedio	42,500 acciones
Capitalización de mercado	$ 39.2 millones (a partir del cuarto trimestre de 2023)

Plataformas de asesoramiento financiero

Canales de distribución primarios

• Terminal de Bloomberg
• Charles Schwab
• Inversiones de fidelidad
• TD Ameritrade

Informes financieros trimestrales

Frecuencia de informe	Trimestral
Informes de distribución	Sec Formulario 10-Q y 10-K
Distribución promedio por unidad	$ 0.0375 (cuarto trimestre 2023)

Llamadas a la conferencia de inversores

Frecuencia de llamadas	Trimestral
Recuento promedio de participantes	75-100 inversores/analistas
Duración de la llamada	45-60 minutos

Permianville Royalty Trust (PVL) - Modelo de negocio: segmentos de clientes

Inversores minoristas individuales

A partir del cuarto trimestre de 2023, PVL tiene aproximadamente 3.750 accionistas minoristas individuales de los inversores. La inversión promedio por inversor minorista es de $ 12,500.

Categoría de inversionista	Número total	Inversión promedio
Inversores minoristas individuales	3,750	$12,500

Inversores institucionales

La propiedad institucional de PVL representa el 42.6% del total de acciones a diciembre de 2023.

Tipo de inversor institucional	Porcentaje de propiedad
Fondos mutuos	18.3%
Fondos de pensiones	12.5%
Asesores de inversiones	11.8%

Fondos de inversión del sector energético

• Total de tenencias de fondos de inversión del sector energético: $ 47.3 millones
• Número de fondos centrados en la energía invertidos: 22
• Inversión promedio por fondo del sector energético: $ 2.15 millones

Individuos de alto nivel de red

El segmento de inversores de alto nivel de red representa el 15.4% de la base total de inversores de PVL, con una inversión promedio de $ 350,000 por inversor.

Rango de inversión	Número de inversores	Inversión total
$250,000 - $500,000	85	$ 29.75 millones
$ 500,000 - $ 1 millón	42	$ 31.5 millones

Gerentes de cartera de jubilación

Los gerentes de cartera de jubilación poseen el 24.7% de las acciones totales de PVL, con un valor de inversión agregado de $ 63.2 millones.

• Inversiones de cartera de jubilación total: $ 63.2 millones
• Número de carteras de jubilación: 47
• Inversión promedio por cartera de jubilación: $ 1.34 millones

Permianville Royalty Trust (PVL) - Modelo de negocio: Estructura de costos

Gastos de gestión operativa

A partir del informe anual de 2023, Permianville Royalty Trust informó gastos operativos totales de $ 1,287,000. El desglose incluye:

Categoría de gastos	Costo anual ($)
Operaciones de campo	512,000
Gestión de la producción	375,000
Mantenimiento de activos	400,000

Cumplimiento y costos regulatorios

Los gastos de cumplimiento regulatorio para PVL en 2023 totalizaron $ 453,000, que incluyeron:

• Cumplimiento ambiental: $ 187,000
• Cumplimiento de informes de la SEC: $ 156,000
• Tarifas regulatorias estatales: $ 110,000

Sobrecarga administrativa

Los costos generales administrativos para el fideicomiso se documentaron en $ 672,000 en 2023, lo que abarca:

Gasto administrativo	Costo anual ($)
Gastos de oficina	215,000
Salarios del personal	357,000
Seguro corporativo	100,000

Tarifas de servicio profesional

Las tarifas de servicio profesional para PVL en 2023 ascendieron a $ 586,000, distribuidas de la siguiente manera:

• Servicios legales: $ 247,000
• Servicios de contabilidad: $ 189,000
• Tarifas de auditoría: $ 150,000

Tecnología e infraestructura de informes

La tecnología y los gastos de infraestructura de informes totalizaron $ 425,000 en 2023:

Gasto tecnológico	Costo anual ($)
Licencias de software	156,000
Infraestructura	189,000
Sistemas de informes	80,000

Permianville Royalty Trust (PVL) - Modelo de negocios: flujos de ingresos

Ingresos de regalías de la producción de petróleo

A partir del cuarto trimestre de 2023, Permianville Royalty Trust informó ingresos por producción total de petróleo de $ 8.4 millones. La producción promedio de petróleo diario fue de aproximadamente 465 barriles por día.

Métrica de producción	Valor	Período
Ingresos totales del petróleo	$ 8.4 millones	P4 2023
Producción diaria promedio de petróleo	465 barriles	P4 2023

Ingresos de producción de gas natural

La producción de gas natural generó $ 3.2 millones en ingresos para el cuarto trimestre de 2023, con una producción diaria promedio de 1,850 mil pies cúbicos.

Métrica de producción de gas	Valor	Período
Ingresos totales de gas natural	$ 3.2 millones	P4 2023
Producción promedio de gas diario	1.850 MCF	P4 2023

Pagos de arrendamiento de derechos minerales

Los ingresos por pagos de arrendamiento totalizaron $ 1.5 millones para el año fiscal 2023, que representa un flujo de ingresos estables de los derechos minerales existentes.

Ingresos de inversión

Los ingresos por inversiones para 2023 fueron de $ 0.6 millones, derivado de instrumentos financieros a corto plazo y reservas de efectivo.

Potencios de la venta de activos

En 2023, el fideicomiso reportó posibles ganancias de venta de activos de $ 2.1 millones de disposiciones estratégicas de propiedades.

Flujo de ingresos	Ingresos totales	Año
Producción de petróleo	$ 8.4 millones	2023
Producción de gas natural	$ 3.2 millones	2023
Arrendamiento de derechos minerales	$ 1.5 millones	2023
Ingresos de inversión	$ 0.6 millones	2023
Activos de venta de activos	$ 2.1 millones	2023

Permianville Royalty Trust (PVL) - Canvas Business Model: Value Propositions

You're looking at Permianville Royalty Trust (PVL) as a way to tap into energy production without taking on the headaches of drilling and operating. The core value here is direct, passive exposure to commodity prices without operational risk. You own a piece of the net profits interest, which is the right to receive 80% of the net profits from the sale of oil and natural gas production from properties primarily in Texas, Louisiana, and New Mexico.

The mechanism for return is monthly cash distributions, though you must understand they are inherently inconsistent. For the payment due December 15, 2025, the distribution was set at $0.029000 per unit, based on August 2025 oil production and July 2025 gas production figures. To give you a sense of the variability, the distributable income for Q2 2025 was only $0.008548 per unit, which was enough to eliminate a $1.4M carryforward shortfall at the underlying properties.

This structure makes Permianville Royalty Trust (PVL) a pure-play royalty vehicle. It's focused on established Permian assets but is increasingly tied to new development, specifically Haynesville gas production. For instance, the operator reported initial production rates of ~60 MMcf/d per new Haynesville well, which directly impacts the Trust's cash flow potential. This focus on key basins is a major part of the proposition.

The final piece is the high potential yield when commodity prices and production volumes align. When the underlying economics are strong, the yield can look very attractive. For example, one recent calculation showed a dividend yield of 19.9%, based on an annual amount of $0.360 per unit. Still, you need to watch the inputs closely, as the payout coverage can be tight; the payout ratio was recently reported at 100.7%.

Here's a quick look at the recent operational snapshot that drove the December 2025 payment:

Metric	Value	Unit/Context
December 2025 Distribution	$0.029000	Per Unit
Realized Oil Price (Current Month)	$64.30	Per Bbl
Realized Gas Price (Current Month)	$2.96	Per Mcf
Recorded Oil Cash Receipts (Current Month)	$2.3 million	Total
Recorded Gas Cash Receipts (Current Month)	$2.3 million	Total
Total Accrued Operating Expenses	$2.5 million	Total
Capital Expenditures	$0.3 million	Total

The value proposition is built on these structural advantages and the underlying asset quality. You are buying a stream of cash flow, not an operating company. Think about what that means for your risk profile.

• Right to 80% of net profits from underlying properties.
• Exposure to both Permian and Haynesville basins.
• Cash flow tied directly to realized wellhead prices.
• Distributions are paid monthly, if net profits are positive.
• Recent capital expenditures were $0.3 million for the period.

Also, remember the Sponsor's activity can affect the calculation; for instance, the Sponsor sold a partial Permian acreage stake in September 2025 for total cash proceeds of $0.4 million, which was included in that month's net profits interest calculation. It's defintely a structure that requires you to monitor commodity markets and the operator's cost control.

Finance: draft 13-week cash view by Friday.

Permianville Royalty Trust (PVL) - Canvas Business Model: Customer Relationships

You're looking at how Permianville Royalty Trust (PVL) interacts with its unitholders. For a statutory trust like this, the relationship is primarily passive and financial, not one of ongoing service or support. It's about timely delivery of what you own.

Automated, transactional relationship via monthly distribution payments

The core relationship is the automated transfer of cash flow. Permianville Royalty Trust (PVL) is structured to pass through 80% of the net profits from its underlying oil and gas properties directly to you, the unitholder, on a monthly basis. This is highly transactional; the relationship exists to facilitate these payments.

Here's a look at the recent distribution cadence as of late 2025, showing the variability you should expect:

Distribution Month Reported	Distribution Per Unit (USD)	Ex-Dividend Date	Payment Date
August 2025 Production	$0.016000	August 29, 2025	September 15, 2025
September 2025 Production	$0.023	September 30, 2025	October 15, 2025
October 2025 Production	$0.030000	October 31, 2025	November 14, 2025
November 2025 Production	$0.029000	November 28, 2025	December 15, 2025

The Year-To-Date total distribution for 2025, through the November declaration, reached $0.098000 per unit. Honestly, these numbers swing based on commodity prices, which is the main risk you take on as an investor here. The current dividend yield, based on the latest figures, is cited around 19.46%, tied to an annualized dividend of $0.36 per share.

Investor Relations (IR) updates via press releases and SEC filings

Since the relationship is purely financial, the primary non-transactional touchpoints are formal disclosures. Permianville Royalty Trust (PVL) uses press releases to communicate the monthly distribution amounts and operational updates, keeping you informed about the inputs affecting your cash flow.

You can expect regular communication:

• Monthly Cash Distribution announcements, such as the one on November 17, 2025.
• Monthly Operational Updates, like the release on July 18, 2025.
• SEC filings, including the Annual Report on Form 10-K for the year ended December 31, 2024, filed on March 19, 2025.

These releases detail the underlying sales volumes and average realized wellhead prices, for example, the November 17, 2025 release showed oil at $64.30/Bbl and natural gas at $2.96/Mcf for the current month's calculation.

Unitholder voting on major structural changes, like the 2023 asset sale

While rare, the most significant direct interaction with unitholders involves voting on structural changes proposed by the Sponsor, COERT Holdings 1 LLC. This is where you move from passive recipient to active governance participant.

The key example is the special meeting held on July 19, 2023, which addressed the sale of certain oil and gas properties. Here are the specifics of that relationship event:

• Meeting Date: July 19, 2023.
• Record Date for Voting Eligibility: June 6, 2023.
• Sponsor Ownership: Over 20% of outstanding Trust units.
• Estimated Distribution Per Unit from Sale Proceeds: $0.15000.
• Asset Scope: Divestiture Properties represented less than 5% of the total PV-10 value as of December 31, 2022.

Proxy advisory firms, like Institutional Shareholder Services Inc. and Glass, Lewis & Co., weighed in, recommending unitholders vote "FOR" all proposals on July 5 and July 6, 2023, respectively. The approval allowed the release of the Net Profits Interest associated with those Divestiture Properties, which closed on August 9, 2023. Also, proposals were voted on to raise future threshold requirements for similar transactions, directly impacting future governance.

Finance: review the impact of the September 2025 partial acreage stake sale proceeds ($0.4 million attributable to the net profits interest) on the December 2025 distribution by next Tuesday.

Permianville Royalty Trust (PVL) - Canvas Business Model: Channels

You're looking at how Permianville Royalty Trust (PVL) gets its value proposition-the right to 80% of net profits from specific oil and gas properties-out to its unitholders. It's a direct, exchange-based, and administrative channel structure.

New York Stock Exchange (NYSE) for trading of PVL units

The primary market channel for PVL units is the New York Stock Exchange (NYSE). This is where liquidity is established for unitholders looking to buy or sell their interest in the Trust's future cash flows.

Here are some recent market metrics as of late 2025:

Metric	Value	Date/Period
Last Traded Price (Example)	$1.87	Dec 5, 2025, 9:57 AM EST
Previous Close	$1.85	Dec 5, 2025
52 Week High	$2.04	As of late 2025
52 Week Low	$1.30	As of late 2025
Market Capitalization	$61,710,000	As of late 2025
Average Trading Volume	114,647 units	As of late 2025

The trading channel is supported by the Trust's consistent monthly payout history, though recent months show variability in the per-unit amount.

The Trustee (BNY Mellon) for processing and paying cash distributions

The Bank of New York Mellon Trust Company, N.A. acts as the Trustee, handling the mechanics of getting the distributable income to the unitholders. This is the critical administrative channel for realizing the Trust's revenue stream.

Recent distribution data shows the direct outcome of this channel:

Distribution Month (Production Period)	Per Unit Amount	Ex-Dividend Date	Pay Date
November 2025 (August/July 2025)	$0.029000	Nov 28, 2025	Dec 15, 2025
October 2025 (July/June 2025)	$0.030000	Oct 31, 2025	Nov 14, 2025
September 2025 (June/May 2025)	$0.023000	Sep 30, 2025	Oct 15, 2025
August 2025 (May/April 2025)	$0.016000	Aug 29, 2025	Sep 15, 2025
July 2025 (April/March 2025)	$0.000000 (No Distribution)	N/A	N/A

For the distribution announced in November 2025, the distributable income from the net profits interest was approximately $0.5 million after recouping a prior net profits interest shortfall of $0.3 million and repaying administrative expense advances of $0.6 million.

Key financial metrics tied to the distribution channel as of late 2025 include:

• Annual Dividend: $0.36 per share.
• Dividend Yield Today: 5.3% (based on a prior payment).
• Payout Frequency: Monthly.
• Payout Ratio: 166.36%.
• One-Year Dividend Growth: 24.62%.

If you need to send a written request for a printed copy of the Annual Report on Form 10-K, the Trustee's address is The Bank of New York Mellon Trust Company, N.A., 601 Travis Street, 16th Floor, Houston, TX 77002.

Investor Relations website for official announcements and financial data

The Permianville Royalty Trust Investor Relations website serves as the digital channel for official communication, providing transparency to stockholders and analysts. The main site is www.permianvilleroyaltytrust.com.

The website organizes information into distinct, accessible sections:

• Stock Information, including the current stock quote (e.g., $1.87 on Dec 5, 2025).
• Cash Distributions history and announcements.
• Tax Information.
• News Releases, which are posted monthly, such as the November 17, 2025 announcement of the December 2025 distribution.
• SEC Filings, including the Annual Report on Form 10-K for the year ended December 31, 2024, filed on March 19, 2025.
• Email Alerts sign-up functionality.

The site is the source for the latest operational updates, such as the July 18, 2025, Monthly Operational Update.

Permianville Royalty Trust (PVL) - Canvas Business Model: Customer Segments

You're looking at the specific groups of people and entities that Permianville Royalty Trust (PVL) serves with its structure as a Delaware statutory trust, which is designed primarily to pass through net profits from oil and gas properties.

Individual retail investors seeking high-yield, income-focused energy exposure.

This segment is drawn to the monthly cash distributions, which represent the primary value proposition for retail holders of PVL units. The historical consistency, though subject to commodity price fluctuations, is a key attraction for income-seekers. For instance, the Trust announced a cash distribution of $0.029000 per unit for December 2025, payable on December 15, 2025, to unitholders of record on November 28, 2025. The year-to-date total distribution for 2025 was reported as $0.098000 per unit. Some data points suggest an annual dividend of $0.36 per share with a yield of 19.46%, while another source notes a dividend yield of 5.92% based on the latest distribution amount. This group is focused on the direct cash return from the underlying assets in Texas, Louisiana, and New Mexico.

• Payout Frequency: Monthly
• Latest Distribution Amount (Nov 2025 declaration): $0.029000 per unit
• Reported Oil Cash Receipts (Current Month): $2.3 million
• Reported Natural Gas Cash Receipts (Current Month): $2.3 million

Institutional investors and funds looking for passive energy cash flow.

This group includes specialized funds and wealth managers that allocate capital to royalty trusts for passive exposure to the energy sector without direct operational risk. Institutional ownership accounts for 6.78% of Permianville Royalty Trust stock. As of late 2025 filings, there were 25 institutional owners filing 13D/G or 13F forms, holding a total of 2,924,301 shares. The nature of the investment for these entities is often passive, aligning with Schedule 13G filings for investments over 5%. Major holders mentioned include Ashton Thomas Private Wealth LLC with holdings valued at $2.86M and Pingora Partners LLC with $1.63M.

Here's a quick look at the institutional footprint:

Metric	Value
Institutional Ownership Percentage	6.78%
Number of Institutional Holders (13F/13D-G)	25
Total Shares Held by Institutions	2,924,301
Largest Institutional Holding Value (Ashton Thomas)	$2.86M

Financial analysts and portfolio managers tracking royalty trust performance.

This segment uses the Trust's public filings to model future cash flows and assess the impact of commodity prices and operational costs on the net profits interest. They focus on the underlying production and pricing metrics reported quarterly. For example, Permianville Royalty Trust reported Q3 2025 earnings on November 14, 2025, with an EPS of $0.02 and quarterly revenue of $11.57 million. The net profits interest calculation for the November 2025 distribution was based on August 2025 oil production and July 2025 natural gas production. Analysts track the realized wellhead prices, such as the reported $64.30/Bbl for oil and $2.96/Mcf for natural gas in the current month's calculation.

• Q3 2025 Reported Revenue: $11.57 million
• Q3 2025 Reported EPS: $0.02
• Current Month Oil Price: $64.30 per Bbl
• Current Month Natural Gas Price: $2.96 per Mcf

Finance: draft 13-week cash view by Friday.

Permianville Royalty Trust (PVL) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Permianville Royalty Trust (PVL) structure as of late 2025. For a royalty trust, the costs are primarily the operating expenses borne by the underlying properties before the net profits interest is calculated, plus the trust's own administrative overhead. The key is that these costs directly reduce the cash available for distribution to you, the unitholder.

The Trust's structure means that the most significant costs are the Lease Operating Expenses (LOE) and development costs, which are deducted from gross revenue before the Trust receives its 80% net profits share. These costs have seen significant fluctuation driven by capital projects.

Here are the key cost components and associated recent figures:

• Trust Administrative Expenses: Specific monthly figures for Trustee and legal fees aren't explicitly broken out in the latest announcements, but the impact of past advances for these expenses is visible.
• Repayment of prior period administrative expense advances to the Trust totaled $0.6 million in the August 2025 announcement period.
• Administrative shortfalls/advances were noted as eliminated as of September 30, 2025.

Lease Operating Expenses (LOE) and development costs are bundled into the total accrued operating expenses, which fluctuate based on activity, particularly the Haynesville well completions.

Here's a look at the monthly expense figures we have:

Expense Category	Period/Date Reference	Amount
Total Accrued Operating Expenses	November 2025 Announcement Month	$2.5 million
Total Accrued Operating Expenses	July 2025 Announcement Month	$2.4 million
Total Accrued Operating Expenses	August 2025 Announcement Month	$2.8 million

Development costs, a component of the overall operating/development expenses, have been a major driver of cost pressure. For instance, in the first quarter of 2025, development expenses surged 133% Year-over-Year to $7.16 million.

Capital expenditures (CapEx) are a separate, but related, cost consideration, often being withheld from distributions. The elevated CapEx is tied to the drilling and completion of Haynesville wells operated by a super-major.

You can see the elevated CapEx in the July 2025 reporting period:

• Elevated Capital Expenditures (July 2025): $1.2 million.
• This was an increase of $0.2 million from the prior month.
• CapEx for the month referenced in the November 2025 announcement was $0.3 million.

The Sponsor has also established and expanded a cash reserve for future development expenses, showing forward-looking cost commitment. As of the November 2025 announcement, the total reserve for approved, future development expenses stood at $1.3 million, with an additional $0.6 million withheld that month.

The full-year capital expenditure guidance reflects this focus on development activity:

CapEx Guidance Metric	Range
FY 2025 Gross CapEx Guidance (Initial)	$10.0-$15.0 million
FY 2025 Gross CapEx Guidance (Net to NPI, Initial)	$8.0-$12.0 million
FY 2025 Gross CapEx Outlook (Revised)	$12.0-$17.0 million
FY 2025 Gross CapEx Outlook (Net to NPI, Revised)	$9.6-$13.6 million

To be fair, the LOE component itself has shown some positive trends, with management citing a continued decline in lease operating expenditures per barrel of oil equivalent on an aggregate basis compared to prior periods.

Finance: draft 13-week cash view by Friday.

Permianville Royalty Trust (PVL) - Canvas Business Model: Revenue Streams

The revenue streams for Permianville Royalty Trust (PVL) are derived almost entirely from its 80% net profits interest (NPI) in oil and natural gas properties across Texas, Louisiana, and New Mexico. The cash flow is highly dependent on commodity prices and operational volumes, which directly impact the distributable net profits.

For a recent reporting period, the core operating cash receipts looked like this:

• Oil cash receipts totaled $2.3 million, based on realized wellhead prices of $64.30/Bbl for August 2025 production.
• Natural gas cash receipts totaled $2.3 million, based on realized wellhead prices of $2.96/Mcf for July 2025 production.

The Trust also benefits from non-core asset activity, which can provide lump-sum cash injections. For instance, in September 2025, the Sponsor sold a non-producing, partial Permian acreage stake, and the resulting proceeds attributable to the net profits interest amounted to $0.4 million.

The ultimate measure of profitability for the Trust, before any distributions are made, is the distributable net profits. For the second quarter of 2025, the Trust achieved $282,084 in distributable net profits, which was significant because it successfully eliminated a $1.4 million carryforward shortfall from prior periods.

Here is a comparison of recent monthly cash receipts and pricing data to show the revenue dynamics:

Metric	Current Month Receipts	Realized Price	Prior Month Receipts	Prior Month Realized Price
Oil Cash Receipts	$2.3 million	$64.30/Bbl	$2.5 million	$62.17/Bbl
Natural Gas Cash Receipts	$2.3 million	$2.96/Mcf	$2.4 million	$2.91/Mcf

You should also note the impact of capital management decisions on distributable income, as these affect the final amount available to unitholders. For the distribution declared in August 2025 (based on May oil/April gas production), the distributable income from the net profits interest was approximately $0.5 million after recouping a $0.3 million prior shortfall and repaying $0.6 million in administrative expense advances. Also, the Sponsor has been actively setting aside funds for future development; in the October 2025 announcement, the Sponsor withheld an additional $0.4 million to add to an existing $0.3 million cash reserve, establishing a total reserve of $0.7 million for approved, future Haynesville well development expenses.

The NPI model means that revenue is the residual after all operating and development costs are covered. The Trust's ability to generate revenue streams is directly tied to the underlying properties' performance, which saw a material uplift from three new Haynesville wells coming online, with initial rates around ~60 MMcf/d per well.