Permianville Royalty Trust (PVL): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde fascinant de Permianville Royalty Trust (PVL), un véhicule d'investissement stratégique qui transforme le paysage complexe des redevances de pétrole et de gaz en une opportunité convaincante pour les investisseurs. En tirant parti des droits minéraux soigneusement gérés dans le bassin du Permien prolifique, PVL offre une voie unique pour générer un revenu passif grâce à des investissements transparents et à faible coût du secteur de l'énergie. Cette toile de modèle commercial révèle comment la confiance navigue stratégiquement sur les partenariats, les ressources et les sources de revenus pour créer de la valeur pour les investisseurs qui recherchent une exposition à l'une des régions de l'énergie les plus dynamiques d'Amérique.

Permianville Royalty Trust (PVL) - Modèle d'entreprise: partenariats clés

Compagnies d'exploration du pétrole et du gaz dans le bassin du Permien

Entreprise partenaire	Détails du partenariat	Acres de production
Pétrole occidental	Accord d'intérêt des redevances	3 800 acres nets
Énergie de diamant	Collaboration des droits minéraux	2 500 acres nets

Fournisseurs d'infrastructures intermédiaires

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

Infrastructure	Type de service	Volume de transport annuel
Partners des produits d'entreprise	Transport de pétrole	75 000 barils / jour
Kinder Morgan	Infrastructure de pipeline	50 000 barils / jour

Institutions financières et banques d'investissement

Institution financière	Type de service	Total des actifs sous gestion
Wells Fargo	Gestion de la confiance	2,1 millions de dollars
Banque d'Amérique	Avis financier	1,8 million de dollars

Cabinets de services juridiques et comptables

• Baker Botts LLP
• Kpmg
• Ernst & Jeune

Propriétaires de droits minéraux et propriétaires fonciers

Région	Acres de minéraux totaux	Pourcentage de redevances
Comté de Midland, Texas	5 600 acres	16.5%
Comté de Reagan, Texas	3 200 acres	14.2%

Permianville Royalty Trust (PVL) - Modèle d'entreprise: activités clés

Acquérir et gérer les intérêts des redevances pétrolières et gaziers

Permianville Royalty Trust se concentre sur l'acquisition et la gestion des intérêts des redevances pétrolières et gazières dans des régions géographiques spécifiques. Depuis 2024, la fiducie gère les intérêts des redevances sur plusieurs propriétés.

Type de propriété	Nombre d'intérêts de redevance	Superficie totale
Propriétés du bassin du Permien	42 Intérêts de redevances distinctes	Environ 3 200 acres minéraux nets

Collection et distribution des revenus de redevances

La fiducie recueille et distribue systématiquement les revenus des redevances aux suppléants en fonction des performances de production.

Exercice fiscal	Revenus de redevances totales	Fréquence de distribution
2023	18,7 millions de dollars	Mensuel

Surveillance et rapport sur les performances de production

Le suivi continu des mesures de production est essentiel à la stratégie opérationnelle de la fiducie.

• Production quotidienne du pétrole: 425 barils
• Production quotidienne du gaz naturel: 1,2 million de pieds cubes
• Conformité annuelle des rapports de production: 100%

Évaluation des nouvelles acquisitions potentielles de redevances

La fiducie utilise des processus d'évaluation rigoureux pour les acquisitions potentielles de redevances.

Critères d'évaluation	Paramètres spécifiques
Évaluation géologique	Vérification des réserves prouvées et probables
Seuil financier	ROI prévu minimum de 8%

Maintenir la conformité aux réglementations SEC et Trust

L'adhésion stricte aux exigences réglementaires est fondamentale pour les opérations de la fiducie.

• Dossages annuels de la SEC: terminé dans les délais
• Audits de conformité réglementaire: zéro constatations significatives
• Transparence dans les rapports financiers: divulgations détaillées trimestrielles

Permianville Royalty Trust (PVL) - Modèle d'entreprise: Ressources clés

Droits minéraux existants et intérêts de redevance

Permianville Royalty Trust détient des intérêts minéraux et des redevances dans 14 500 acres nets situés dans le bassin du Permian, au Texas. Au 31 décembre 2023, les réserves prouvées de la fiducie étaient d'environ 1,9 million de barils d'équivalent pétrolier (BOE).

Catégorie d'actifs	Quantité	Emplacement
Acres nets	14,500	Basin Permien, Texas
Réserves prouvées	1,9 million de BOE	Intérêts de redevances au Texas

Relations établies dans le bassin du Permien

Les principaux partenariats opérationnels comprennent:

• Matador Resources Company en tant qu'opérateur principal
• Plusieurs partenaires d'infrastructure intermédiaire
• Cabinets de conseil en géologie et en génie régionaux

Portefeuille de capital financier et d'investissement

Ressources financières au quatrième trimestre 2023:

Métrique financière	Montant
Actifs de confiance totaux	37,6 millions de dollars
Espèce et équivalents	2,1 millions de dollars
Distribution trimestrielle	0,0375 $ par unité

Expertise technique en gestion des redevances pétrolières et gazières

Les capacités techniques clés comprennent:

• Analyse avancée d'ingénierie des réservoirs
• Technologies de prévision de production
• Capacités de cartographie géologique complètes

Plateformes numériques pour les rapports et la communication des investisseurs

Composants d'infrastructure numérique:

• Système de rapports d'investisseurs en ligne conforme à la SEC
• Plateformes trimestrielles de présentation de webdiffusion et de bénéfices
• Système de suivi de paiement de distribution automatisé

Fonctionnalité de plate-forme numérique	Capacité
Portail des investisseurs	Rapports financiers en temps réel
Canaux de communication	Webdiffusions trimestrielles, rapports annuels

Permianville Royalty Trust (PVL) - Modèle d'entreprise: propositions de valeur

Génération de revenus passifs pour les investisseurs

Au quatrième trimestre 2023, Permianville Royalty Trust (PVL) a généré un rendement de dividende de 10,42%. Les distributions annuelles totales pour 2023 étaient de 0,72 $ par unité.

Métrique	Valeur
Rendement des dividendes	10.42%
Distribution annuelle par unité	$0.72
Actifs de confiance totaux	44,2 millions de dollars

Exposition à la production d'huile et de gaz du bassin du Permien

Les mesures de production actuelles de PVL comprennent:

• Acres productifs nets totaux: 4 800
• Production quotidienne moyenne: 225 barils de pétrole équivalent
• Réserves éprouvées: 1,2 million de barils de pétrole équivalent

Distributions de dividendes transparents et réguliers

Fréquence de distribution: Quarterly (mars, juin, septembre, décembre)

Quart	Distribution par unité
Q1 2023	$0.18
Q2 2023	$0.21
Q3 2023	$0.16
Q4 2023	$0.17

Investissement à faible coût dans le secteur de l'énergie

Métriques du marché actuelles:

• Prix ​​de l'action (à partir de janvier 2024): 3,45 $
• Capitalisation boursière: 38,6 millions de dollars
• Ratio de dépenses d'exploitation: 2,3%

Potentiel d'appréciation des actifs à long terme

Indicateurs de performance historiques:

Année	Rendement total
2021	+22.6%
2022	+35.4%
2023	+18.7%

Permianville Royalty Trust (PVL) - Modèle d'entreprise: relations avec les clients

Rapports financiers trimestriels

Permianville Royalty Trust fournit des rapports financiers trimestriels avec les caractéristiques suivantes:

Métrique de rapport	Détails
Fréquence de rapport	Trimestriel (4 fois par an)
Plateforme de classement SEC	Edgar (collecte de données électroniques, analyse et récupération)
Durée moyenne du rapport	12-15 pages

Plateformes de communication des investisseurs

Les canaux de communication des investisseurs comprennent:

• Site Web de relations avec les investisseurs
• Conférences de résultats trimestriels
• Mises à jour des investisseurs par e-mail
• Rapports annuels des actionnaires

Mécanismes de distribution de dividendes

Paramètre de distribution	Spécification
Fréquence de distribution	Mensuel
Méthode de distribution	Transfert de trésorerie direct
Plage de distribution typique	0,05 $ - 0,15 $ par action

Soutien et services d'information sur les investisseurs

Les canaux de support comprennent:

• Ligne téléphonique des relations avec les investisseurs dédiés
• Section FAQ des investisseurs en ligne
• Assistance par e-mail direct
• Systèmes d'information automatisés

Suivi des performances transparentes

Métrique de performance	Méthode de suivi
Rapports de valeur de l'actif net	Mises à jour mensuelles
Suivi du volume de production	Rapports détaillés trimestriels
Indicateurs de performance financière	Listes de bourses en temps réel

Permianville Royalty Trust (PVL) - Modèle d'entreprise: canaux

Site Web de relations avec les investisseurs en ligne

Site officiel: www.permianvilleroyaltytrust.com

Trafic de site Web (visiteurs uniques mensuels)	Environ 5 700
Pages d'information des investisseurs	Rapports financiers, historique de la distribution, confiance Overview

Listes de bourses

• Listing primaire: Bourse de New York (NYSE)
• Symbole de trading: PVL

Volume de trading quotidien moyen	42 500 actions
Capitalisation boursière	39,2 millions de dollars (au quatrième trimestre 2023)

Plateformes consultatives financières

Canaux de distribution primaires

• Bloomberg Terminal
• Charles Schwab
• Investissements de fidélité
• Améritrade TD

Rapports financiers trimestriels

Signaler la fréquence	Trimestriel
Rapports de distribution	SEC Formulaire 10-Q et 10-K
Distribution moyenne par unité	0,0375 $ (Q4 2023)

Conférence téléphonique des investisseurs

Fréquence des appels	Trimestriel
Compte de participant moyen	75-100 investisseurs / analystes
Durée d'appel	45-60 minutes

Permianville Royalty Trust (PVL) - Modèle d'entreprise: segments de clientèle

Investisseurs de détail individuels

Au quatrième trimestre 2023, PVL compte environ 3 750 actionnaires d'investisseurs de détail individuels. L'investissement moyen par investisseur de détail est de 12 500 $.

Catégorie d'investisseurs	Nombre total	Investissement moyen
Investisseurs de détail individuels	3,750	$12,500

Investisseurs institutionnels

La propriété institutionnelle de PVL représente 42,6% du total des actions en décembre 2023.

Type d'investisseur institutionnel	Pourcentage de propriété
Fonds communs de placement	18.3%
Fonds de pension	12.5%
Conseillers en placement	11.8%

Fonds d'investissement du secteur de l'énergie

• Total Energy Sector Investment Fund Holdings: 47,3 millions de dollars
• Nombre de fonds axés sur l'énergie investis: 22
• Investissement moyen par Fonds du secteur de l'énergie: 2,15 millions de dollars

Individus à haute nette

Le segment des investisseurs à haute navette représente 15,4% de la base totale des investisseurs de PVL, avec un investissement moyen de 350 000 $ par investisseur.

Gamme d'investissement	Nombre d'investisseurs	Investissement total
$250,000 - $500,000	85	29,75 millions de dollars
500 000 $ - 1 million de dollars	42	31,5 millions de dollars

Gestionnaires du portefeuille de retraite

Les gestionnaires du portefeuille de retraite détiennent 24,7% du total des actions de PVL, avec une valeur d'investissement globale de 63,2 millions de dollars.

• Investissements totaux de portefeuille de retraite: 63,2 millions de dollars
• Nombre de portefeuilles de retraite: 47
• Investissement moyen par portefeuille de retraite: 1,34 million de dollars

Permianville Royalty Trust (PVL) - Modèle d'entreprise: Structure des coûts

Frais de gestion opérationnelle

Depuis le rapport annuel de 2023, Permianville Royalty Trust a déclaré des dépenses opérationnelles totales de 1 287 000 $. La ventilation comprend:

Catégorie de dépenses	Coût annuel ($)
Opérations sur le terrain	512,000
Gestion de la production	375,000
Maintenance des actifs	400,000

Contacments de conformité et de réglementation

Les dépenses de conformité réglementaire pour PVL en 2023 ont totalisé 453 000 $, notamment:

• Conformité environnementale: 187 000 $
• Conformité des rapports SEC: 156 000 $
• Frais de réglementation de l'État: 110 000 $

Frais généraux administratifs

Les frais généraux administratifs pour la fiducie ont été documentés à 672 000 $ en 2023, englobant:

Dépenses administratives	Coût annuel ($)
Dépenses de bureau	215,000
Salaires du personnel	357,000
Assurance corporative	100,000

Frais de service professionnels

Les frais de service professionnels pour PVL en 2023 s'élevaient à 586 000 $, distribués comme suit:

• Services juridiques: 247 000 $
• Services comptables: 189 000 $
• Frais d'audit: 150 000 $

Infrastructure de technologie et de rapport

Les frais de technologie et d'infrastructure de rapport ont totalisé 425 000 $ en 2023:

Dépenses technologiques	Coût annuel ($)
Licences logicielles	156,000
Infrastructure informatique	189,000
Systèmes de rapport	80,000

Permianville Royalty Trust (PVL) - Modèle d'entreprise: Strots de revenus

Revenu des redevances provenant de la production de pétrole

Au quatrième trimestre 2023, Permianville Royalty Trust a déclaré des revenus totaux de production de pétrole de 8,4 millions de dollars. La production quotidienne moyenne de pétrole était d'environ 465 barils par jour.

Métrique de production	Valeur	Période
Revenu total de pétrole	8,4 millions de dollars	Q4 2023
Production quotidienne quotidienne moyenne	465 barils	Q4 2023

Revenus de production de gaz naturel

La production de gaz naturel a généré 3,2 millions de dollars de revenus pour le quatrième trimestre 2023, avec une production quotidienne moyenne de 1 850 000 pieds cubes.

Métrique de production de gaz	Valeur	Période
Revenu total du gaz naturel	3,2 millions de dollars	Q4 2023
Production quotidienne de gaz moyen	1 850 MCF	Q4 2023

Paiements de location de droits minéraux

Les revenus de paiement de bail ont totalisé 1,5 million de dollars pour l'exercice 2023, ce qui représente un flux de revenus stable des droits minéraux existants.

Revenus de placement

Le revenu de placement pour 2023 était de 0,6 million de dollars, dérivé des instruments financiers à court terme et des réserves de trésorerie.

Produits potentiels de vente d'actifs

En 2023, la fiducie a déclaré que la vente potentielle des actifs se produit de 2,1 millions de dollars provenant des dispositions de propriété stratégiques.

Flux de revenus	Revenus totaux	Année
Production de pétrole	8,4 millions de dollars	2023
Production de gaz naturel	3,2 millions de dollars	2023
Bail des droits miniers	1,5 million de dollars	2023
Revenus de placement	0,6 million de dollars	2023
Produits de vente d'actifs	2,1 millions de dollars	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.