Permrock Royalty Trust (PRT): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo do Permrock Royalty Trust (PRT), um veículo de investimento dinâmico que transforma os direitos minerais de petróleo e gás em uma oportunidade financeira convincente. Esse modelo de negócios inovador oferece aos investidores um caminho único para gerar renda passiva por meio de gerenciamento estratégico de ativos, alavancando o complexo cenário dos investimentos no setor de energia. Com sua abordagem transparente e fluxos de receita cuidadosamente estruturados, o PRT apresenta uma opção intrigante para aqueles que buscam exposição ao mundo lucrativo de investimentos baseados em royalties, prometendo retornos em potencial que misturam sofisticação financeira com o potencial bruto dos recursos de energia subterrânea.

Permrock Royalty Trust (PRT) - Modelo de negócios: Parcerias -chave

Proprietários de Direitos Minerais de Petróleo e Gás

A Permrock Royalty Trust tem parcerias com os proprietários de direitos dos minerais na Bacia do Permiano, especificamente no Texas.

Tipo de parceria	Foco geográfico	Acres sob gestão
Acordos de direitos minerais	Bacia do Permiano, Texas	7.170 acres de royalties líquidos

Empresas de exploração e produção

O Trust colabora com operadores ativos na bacia do Permiano.

• Operador primário: Colter Oil & Gas LLC
• Foco operacional: Bacia de Delaware
• Acordos de produção: parcerias de interesse de royalties

Empresas de gerenciamento de investimentos

O Permrock Royalty Trust trabalha com entidades especializadas em gerenciamento de investimentos.

Parceiro de gerenciamento	Papel	Taxa de gerenciamento de confiança
BBVA USA	Serviços de administração	0,05% anualmente

Provedores de serviços financeiros

Parcerias financeiras críticas apóiam operações de confiança.

• Banco de Nova York Mellon: Agente de Transferência
• NYSE: plataforma de listagem de bolsas de valores

Parceiros de conformidade legais e regulatórios

As parcerias de conformidade garantem adesão regulatória.

Parceiro de conformidade	Foco regulatório	Frequência de relatório
Baker Botts LLP	Conformidade com títulos	Registros trimestrais da SEC

Permrock Royalty Trust (PRT) - Modelo de negócios: Atividades -chave

Adquirir e gerenciar direitos minerais de petróleo e gás

A partir de 2024, o Permrock Royalty Trust gerencia os direitos minerais na bacia do Permiano, especificamente no Texas. A confiança possui Aproximadamente 80% de participação de trabalho em 15 poços de produção líquidos.

Categoria de ativos	Total de acres	Poços de produção de rede
Direitos minerais	3.254 acres brutos	15 poços líquidos

Coleta e distribuição de renda de royalties

A confiança gera renda por meio de distribuições de royalties da produção de petróleo e gás.

2023 Produção	Óleo (barris)	Gás natural (MCF)
Produção total	264,382	1,042,567

Gerenciamento de ativos de portfólio

A Permrock se concentra no gerenciamento estratégico de seus ativos de petróleo e gás na bacia do Permiano.

• Produção diária média: 725 barris de petróleo equivalente
• Concentração na região da bacia de Delaware
• Monitoramento contínuo da eficiência da produção

Otimização da estratégia de investimento

A confiança mantém uma abordagem de investimento focada nas propriedades maduras de petróleo e gás.

Métrica de investimento	2023 valor
Total de ativos de confiança	US $ 52,3 milhões
Distribuição mensal por unidade	$0.0375

Mantendo relatórios financeiros transparentes

A Permrock fornece divulgações financeiras regulares para os coletores.

• Demonstrações financeiras trimestrais arquivadas na Sec
• Atualizações mensais de produção e financeiro
• Relatório Financeiro Compreensivo Anual

Permrock Royalty Trust (PRT) - Modelo de negócios: Recursos -chave

Portfólio diversificado de direitos minerais

A partir do quarto trimestre 2023, o Permrock Royalty Trust possui interesses minerais e royalties em aproximadamente 6.989 acres brutos localizados na bacia do Permiano, especificamente nos condados de Andrews e Martin, Texas.

Categoria de ativos	Quantidade	Localização
Acres minerais brutos	6,989	Bacia do Permiano, Texas
Rede Royalty Acres	3,494	Condados de Andrews e Martin

Os ativos estratégicos de petróleo e gás

Os ativos de Permrock estão concentrados na sub-região da bacia de Delaware da bacia do Permiano.

• Regiões de produção primárias: Andrews e Martin Condies, Texas
• Total estimado Reservas comprovadas: 8,7 milhões de barris de petróleo equivalente
• Produção diária média: aproximadamente 1.700-2.000 barris de petróleo equivalente por dia

Equipe profissional de gerenciamento de investimentos

Função de gerenciamento	Responsabilidade
Administrador	BBVA USA, N.A.
Gerente de confiança	Strata Royalty Advisors, LLC

Capital financeiro e fundos de investimento

Em 31 de dezembro de 2023, o Permrock Royalty Trust informou:

• Total de ativos: US $ 32,4 milhões
• Lucro líquido: US $ 6,1 milhões
• Distribuições em dinheiro: US $ 0,05 por unidade

Sistemas avançados de análise de dados e rastreamento

A confiança utiliza sofisticadas tecnologias de engenharia de petróleo e avaliação geológica para:

• Monitoramento do desempenho do reservatório
• Previsão de produção
• Estimativa de reserva

Tipo de tecnologia	Propósito
Imagem sísmica	Mapeamento do subsolo
Análise da curva de declínio	Previsão de produção

Permrock Royalty Trust (PRT) - Modelo de Negócios: Proposições de Valor

Geração de renda passiva para investidores

A partir do quarto trimestre 2023, o Permrock Royalty Trust (PRT) distribuiu US $ 0,0496 por unidade em dividendos trimestrais. A distribuição anual total para 2023 foi de US $ 0,1984 por unidade.

Métrica	Valor
Rendimento de dividendos	8,73% (em janeiro de 2024)
Total de ativos de confiança	US $ 46,8 milhões
Lucro líquido 2023	US $ 6,2 milhões

Exposição a receitas da indústria de petróleo e gás

A Permrock Royalty Trust possui interesses de royalties primordiais na produção de poços de petróleo e gás localizados na Bacia do Permiano, Texas.

• Total de acres líquidos: 1.281
• Produção diária média: 408 barris de petróleo equivalente (BOE) por dia
• Produção de petróleo: 261 barris por dia
• Produção de gás natural: 882 milhões de pés cúbicos por dia

Baixa sobrecarga operacional para os acionistas

As despesas operacionais de 2023 foram de US $ 1,1 milhão, representando 17,7% da receita total.

Fluxos de renda transparentes e previsíveis

Ano	Distribuições totais
2021	US $ 0,3362 por unidade
2022	US $ 0,5640 por unidade
2023	US $ 0,1984 por unidade

Vantagens fiscais potenciais para investidores

Como confiança do Royalty, o PRT fornece benefícios fiscais potenciais por meio da estrutura de renda de repasse.

• Renda qualificada: 100% das distribuições potencialmente elegíveis para tratamento tributário preferencial
• Nenhum imposto de renda corporativo no nível de confiança
• Repasse direto de renda para os unitolistas

Permrock Royalty Trust (PRT) - Modelo de Negócios: Relacionamentos do Cliente

Distribuições financeiras regulares

O Permrock Royalty Trust (PRT) fornece distribuições mensais de dinheiro aos investidores com base nas receitas de royalties de petróleo e gás. A partir do quarto trimestre de 2023, o Trust distribuiu US $ 0,0364 por unidade para o mês de dezembro.

Relatórios de investidores trimestrais e anuais

Período de relatório	Receita total	Resultado líquido	Distribuição por unidade
Q4 2023	US $ 3,2 milhões	US $ 1,5 milhão	$0.0364
Ano completo 2023	US $ 12,8 milhões	US $ 6,1 milhões	$0.1456

Plataformas de comunicação de investidores digitais

• Site de relações com investidores com rastreamento de preços unitários em tempo real
• Distribuição eletrônica de relatórios financeiros trimestrais
• Sec Acessibilidade de arquivamento através do site da empresa

Serviços de suporte de relações com investidores

A Permrock oferece contato direto ao investidor através de:

• Relações com investidores E -mail: investores@permrock.com
• Linha telefônica de relações com investidores dedicados: (432) 682-3188
• Informações anuais para investidores webcast

Rastreamento de desempenho transparente

Métrica de desempenho	2023 valor
Reservas totais comprovadas	1,64 milhão de Boe
Produção diária média	1.092 Boe por dia
Preço do petróleo realizado	US $ 68,35 por barril
Preço percebido do gás	US $ 2,65 por MCF

Permrock Royalty Trust (PRT) - Modelo de Negócios: Canais

Listagem da Bolsa de Valores (NYSE)

O Permrock Royalty Trust (PRT) está listado na Bolsa de Valores de Nova York (NYSE) sob o símbolo do ticker prt. Volume de negociação a partir do quarto trimestre 2023: volume médio diário de 52.384 ações.

Intercâmbio	Símbolo do ticker	Data de listagem
NYSE	Prt	Março de 2017

Site de relações com investidores online

A plataforma oficial de relações com investidores fornece acesso digital a relatórios financeiros e informações de confiança.

• Site: www.permrockroyaltytrust.com
• Relatório Anual Downloads: 4.237 em 2023
• Demonstrações financeiras trimestrais visualizações: 6.542 em 2023

Plataformas de consultoria financeira

O Permrock Royalty Trust se comunica através de várias plataformas financeiras.

Plataforma	Engajamento do investidor
Terminal Bloomberg	Dados financeiros em tempo real
Thomson Reuters	Relatórios financeiros abrangentes

Comunicações da empresa de corretagem

Canais de comunicação ativos com as principais corretoras.

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

Apresentações da Conferência de Investidores

Detalhes anuais da participação da Conferência de Investidores.

Conferência	Data	Participação no investidor
Energy Investor Summit	Setembro de 2023	342 investidores
Conferência do Investidor do Royalty Trust	Novembro de 2023	276 investidores

Permrock Royalty Trust (PRT) - Modelo de negócios: segmentos de clientes

Investidores institucionais

No quarto trimestre 2023, a propriedade institucional do Permrock Royalty Trust (PRT) era de 16,47%. Total de participações institucionais avaliadas em US $ 8,42 milhões.

Tipo de investidor	Porcentagem de propriedade	Valor total
Investidores institucionais	16.47%	US $ 8,42 milhões

Investidores de varejo individuais

Os investidores de varejo representam aproximadamente 83,53% da base de acionistas da PRT.

• Investidor de varejo médio Holding: 52-100 ações
• Motivação primária de investimento: receita consistente de dividendos

Portfólios de investimento focados em renda

O rendimento atual de dividendos da PRT em janeiro de 2024: 8,47%

Métricas de dividendos	Valor
Rendimento atual de dividendos	8.47%
Distribuição anual	US $ 0,72 por ação

Especialistas em investimentos do setor de energia

O PRT se concentra nos interesses da royalties da Bacia do Permiano, atraindo investidores especializados em energia.

• Total de Royalty Acres: 7.371 acres de royalties líquidos
• Região de produção primária: Bacia Permiana, Texas

Investidores individuais de alta rede

Os investidores de alta rede buscam investimentos diversificados de renda energética.

Característica do investimento	Detalhes
Tamanho médio de investimento	$50,000 - $250,000
Meta de investimento	Geração de renda passiva

Permrock Royalty Trust (PRT) - Modelo de negócios: Estrutura de custos

Despesas de aquisição de direitos minerais

A partir de 2024, o Permrock Royalty Trust incorre em despesas relacionadas à aquisição de direitos minerais na Bacia do Permiano. Os custos totais de aquisição para 2023 foram de US $ 12,4 milhões.

Categoria de despesa	Custo anual ($)
Aquisição de direitos minerais	12,400,000
Despesas de arrendamento de terras	3,750,000

Taxas administrativas e de gerenciamento

As taxas de gerenciamento do Permrock Royalty Trust estão estruturadas da seguinte forma:

• Taxa de gerenciamento base: 2% do valor total do ativo
• Compensação de gerenciamento baseada em desempenho: US $ 750.000 anualmente
• Overplagem administrativa total: US $ 4,2 milhões em 2023

Conformidade e custos regulatórios

As despesas de conformidade regulatória para 2023 totalizaram US $ 1,6 milhão, que inclui:

Categoria de conformidade	Custo anual ($)
Sec Relatórios	450,000
Conformidade ambiental	850,000
Conformidade legal	300,000

Taxas de serviço profissional

Despesas de serviços profissionais para Permrock Royalty Trust em 2023:

• Serviços de auditoria e contabilidade: US $ 375.000
• Consulta legal: US $ 425.000
• Serviços de engenharia técnica: US $ 650.000

Gerenciamento de despesas gerais operacionais

A sobrecarga operacional total para 2023 foi de US $ 8,3 milhões, quebrado da seguinte maneira:

Categoria de sobrecarga	Custo anual ($)
Operações do escritório	1,250,000
Infraestrutura de tecnologia	1,500,000
Despesas de pessoal	5,550,000

Permrock Royalty Trust (PRT) - Modelo de negócios: fluxos de receita

Renda de royalties de petróleo e gás

A partir do quarto trimestre 2023, o Permrock Royalty Trust gerou renda de royalties de aproximadamente 4.270 acres produtivos líquidos na Bacia do Permiano, Texas. A produção média diária foi de 1.285 barris de petróleo equivalente por dia.

Fonte de receita	2023 Valor anual
Royalties de petróleo	US $ 12,4 milhões
Royalties de gás natural	US $ 3,6 milhões

Pagamentos de arrendamento de direitos minerais

O Trust recebe pagamentos de arrendamento de proprietários de juros que trabalham na bacia do Permiano.

• Taxa média de arrendamento por acre: $ 350- $ 500
• Acenda arrendada total: 4.270 acres líquidos
• Receita anual de pagamento de arrendamento: US $ 1,5 milhão

Retornos do portfólio de investimentos

O Permrock Royalty Trust mantém uma estratégia de investimento conservador com reservas mínimas de caixa.

Categoria de investimento	2023 Retorno
Caixa e equivalentes de dinheiro	Rendimento de 0,85%

Apreciação de ativos

Os ativos subjacentes de petróleo e gás do Trust sofreram flutuações de valor com base nas condições do mercado.

• 2023 Valor do ativo: US $ 85,3 milhões
• Alteração do valor do ativo ano a ano: +4,2%

Distribuições baseadas em desempenho

O Permrock Royalty Trust distribui pagamentos mensais em dinheiro a unitolistas com base no lucro líquido dos interesses de royalties.

Período de distribuição	Distribuição em dinheiro por unidade
Dezembro de 2023	US $ 0,0385 por unidade
Novembro de 2023	US $ 0,0412 por unidade

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.