Permianville Royalty Trust (PVL): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no fascinante mundo do Permianville Royalty Trust (PVL), um veículo de investimento estratégico que transforma o complexo cenário de royalties de petróleo e gás em uma oportunidade atraente para os investidores. Ao alavancar os direitos minerais gerenciados cuidadosamente na prolífica bacia do Permiano, a PVL oferece um caminho único para gerar renda passiva por meio de investimentos transparentes e de baixo custo do setor de energia. Esse modelo de negócios Canvas revela como a confiança navega estrategicamente parcerias, recursos e fluxos de receita para criar valor para os investidores que buscam exposição a uma das regiões de energia mais dinâmica da América.

Permianville Royalty Trust (PVL) - Modelo de negócios: Parcerias -chave

Empresas de exploração de petróleo e gás na bacia do Permiano

Empresa parceira	Detalhes da parceria	Acres de produção
Petróleo ocidental	Contrato de juros de royalties	3.800 acres líquidos
Diamondback Energy	Colaboração de Direitos Minerais	2.500 acres líquidos

Fornecedores de infraestrutura média

• Enterprise Products Partners L.P.
• Morgan mais gentil
• Plains todo o oleoduto

Provedor de infraestrutura	Tipo de serviço	Volume anual de transporte
Enterprise Products Partners	Transporte de petróleo	75.000 barris/dia
Morgan mais gentil	Infraestrutura de pipeline	50.000 barris/dia

Instituições financeiras e bancos de investimento

Instituição financeira	Tipo de serviço	Total de ativos sob gestão
Wells Fargo	Gerenciamento de confiança	US $ 2,1 milhões
Bank of America	Aviso financeiro	US $ 1,8 milhão

Empresas de serviços legais e de contabilidade

• Baker Botts LLP
• Kpmg
• Ernst & Jovem

Proprietários de direitos minerais e proprietários de terras

Região	Acres minerais totais	Porcentagem de royalties
Midland County, Texas	5.600 acres	16.5%
Reagan County, Texas	3.200 acres	14.2%

Permianville Royalty Trust (PVL) - Modelo de negócios: Atividades -chave

Adquirir e gerenciar interesses de royalties de petróleo e gás

A Permianville Royalty Trust se concentra na aquisição e gerenciamento de interesses de royalties de petróleo e gás em regiões geográficas específicas. A partir de 2024, a confiança gerencia os interesses de royalties em várias propriedades.

Tipo de propriedade	Número de interesses de royalties	Área total
Propriedades da bacia do Permiano	42 interesses de royalties distintos	Aproximadamente 3.200 acres minerais líquidos

Coletando e distribuindo receitas de royalties

A confiança coleta sistematicamente e distribui as receitas de royalties para os participantes com base no desempenho da produção.

Ano fiscal	Receita total de royalties	Frequência de distribuição
2023	US $ 18,7 milhões	Mensal

Monitorando e relatando o desempenho da produção

O monitoramento contínuo das métricas de produção é fundamental para a estratégia operacional do Trust.

• Produção diária de petróleo: 425 barris
• Produção diária de gás natural: 1,2 milhão de pés cúbicos
• Relatório de produção anual Conformidade: 100%

Avaliando potenciais novas aquisições de royalties

A confiança emprega processos de avaliação rigorosos para possíveis aquisições de royalties.

Critérios de avaliação	Parâmetros específicos
Avaliação geológica	Verificação de reservas comprovadas e prováveis
Limiar financeiro	ROI mínimo projetado de 8%

Manter a conformidade com a SEC e os regulamentos de confiança

A adesão estrita aos requisitos regulatórios é fundamental para as operações do Trust.

• Registros anuais da SEC: Concluído dentro do cronograma
• Auditorias de conformidade regulatória: zero achados significativos
• Transparência em relatórios financeiros: divulgações trimestrais detalhadas

Permianville Royalty Trust (PVL) - Modelo de negócios: Recursos -chave

Direitos minerais existentes e interesses de royalties

A Permianville Royalty Trust detém interesses minerais e de royalties em 14.500 acres líquidos localizados na Bacia do Permiano, Texas. Em 31 de dezembro de 2023, as reservas comprovadas do Trust eram de aproximadamente 1,9 milhão de barris de petróleo equivalente (BOE).

Categoria de ativos	Quantidade	Localização
Líquido acres	14,500	Bacia do Permiano, Texas
Reservas comprovadas	1,9 milhão de boe	Interesses de royalties do Texas

Relacionamentos estabelecidos na bacia do Permiano

As principais parcerias operacionais incluem:

• Matador Resources Company como operador primário
• Múltiplos parceiros de infraestrutura do meio do meio
• Empresas regionais de consultoria geológica e de engenharia

Capital financeiro e portfólio de investimentos

Recursos Financeiros a partir do quarto trimestre 2023:

Métrica financeira	Quantia
Total de ativos de confiança	US $ 37,6 milhões
Dinheiro e equivalentes	US $ 2,1 milhões
Distribuição trimestral	US $ 0,0375 por unidade

Experiência técnica em gerenciamento de royalties de petróleo e gás

Os principais recursos técnicos incluem:

• Análise avançada de engenharia de reservatório
• Tecnologias de previsão de produção
• Capacidades abrangentes de mapeamento geológico

Plataformas digitais para relatórios e comunicação de investidores

Componentes de infraestrutura digital:

• Sistema de relatórios de investidores on-line compatível com SEC
• Plataformas trimestrais de apresentação de webcast e ganhos
• Sistema de rastreamento de pagamento de distribuição automatizada

Recurso da plataforma digital	Capacidade
Portal de investidores	Relatórios financeiros em tempo real
Canais de comunicação	Webcasts trimestrais, relatórios anuais

Permianville Royalty Trust (PVL) - Modelo de Negócios: Proposições de Valor

Geração de renda passiva para investidores

No quarto trimestre 2023, o Permianville Royalty Trust (PVL) gerou um rendimento de dividendos de 10,42%. As distribuições anuais totais para 2023 foram de US $ 0,72 por unidade.

Métrica	Valor
Rendimento de dividendos	10.42%
Distribuição anual por unidade	$0.72
Total de ativos de confiança	US $ 44,2 milhões

Exposição à produção de petróleo e gás da Bacia Permiana

As métricas atuais de produção da PVL incluem:

• Total líquido produtivo acres: 4.800
• Produção diária média: 225 barris de petróleo equivalente
• Reservas comprovadas: 1,2 milhão de barris de petróleo equivalente

Distribuições de dividendos transparentes e regulares

Frequência de distribuição: trimestral (março, junho, setembro, dezembro)

Trimestre	Distribuição por unidade
Q1 2023	$0.18
Q2 2023	$0.21
Q3 2023	$0.16
Q4 2023	$0.17

Investimento de baixo custo no setor de energia

Métricas atuais de mercado:

• Preço das ações (em janeiro de 2024): US $ 3,45
• Capitalização de mercado: US $ 38,6 milhões
• Razão de despesas operacionais: 2,3%

Potencial para valorização de ativos a longo prazo

Indicadores de desempenho histórico:

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

Permianville Royalty Trust (PVL) - Modelo de Negócios: Relacionamentos do Cliente

Relatórios financeiros trimestrais

A Permianville Royalty Trust fornece relatórios financeiros trimestrais com as seguintes características:

Métrica de relatório	Detalhes
Frequência de relatório	Trimestralmente (4 vezes por ano)
Plataforma de arquivamento da SEC	Edgar (coleta de dados eletrônicos, análise e recuperação)
Comprimento médio do relatório	12-15 páginas

Plataformas de comunicação de investidores

Os canais de comunicação dos investidores incluem:

• Site de Relações com Investidores
• Chamadas de conferência de ganhos trimestrais
• Atualizações de investidores por email
• Relatórios anuais do acionista

Mecanismos de distribuição de dividendos

Parâmetro de distribuição	Especificação
Frequência de distribuição	Mensal
Método de distribuição	Transferência direta em dinheiro
Faixa de distribuição típica	$ 0,05 - US $ 0,15 por ação

Serviços de Suporte e Informação dos Investidores

Os canais de suporte incluem:

• Linha telefônica de relações com investidores dedicados
• Seção de Perguntas frequentes sobre investidores on -line
• Suporte direto por e -mail
• Sistemas de informação automatizados

Rastreamento de desempenho transparente

Métrica de desempenho	Método de rastreamento
Relatório de valor de ativo líquido	Atualizações mensais
Rastreamento de volume de produção	Relatórios Trimestrais detalhados
Indicadores de desempenho financeiro	Listagens de bolsas de valores em tempo real

Permianville Royalty Trust (PVL) - Modelo de Negócios: Canais

Site de relações com investidores online

Site oficial: www.permianvilleroyaltytrust.com

Tráfego do site (visitantes exclusivos mensais)	Aproximadamente 5.700
Páginas de informação do investidor	Relatórios financeiros, histórico de distribuição, confiança Overview

Listagens de bolsas de valores

• Listagem primária: Bolsa de Valores de Nova York (NYSE)
• Símbolo de negociação: PVL

Volume médio de negociação diária	42.500 ações
Capitalização de mercado	US $ 39,2 milhões (a partir do quarto trimestre 2023)

Plataformas de consultoria financeira

Canais de distribuição primária

• Terminal Bloomberg
• Charles Schwab
• Fidelity Investments
• TD Ameritrade

Relatórios financeiros trimestrais

Relatório Frequência	Trimestral
Relatórios de distribuição	Sec Formulário 10-Q e 10-K
Distribuição média por unidade	$ 0,0375 (Q4 2023)

Chamadas de conferência de investidores

Frequência de chamadas	Trimestral
Contagem média dos participantes	75-100 investidores/analistas
Duração da chamada	45-60 minutos

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

Investidores de varejo individuais

A partir do quarto trimestre de 2023, a PVL possui aproximadamente 3.750 acionistas individuais de investidores de varejo. O investimento médio por investidor de varejo é de US $ 12.500.

Categoria de investidores	Número total	Investimento médio
Investidores de varejo individuais	3,750	$12,500

Investidores institucionais

A propriedade institucional da PVL representa 42,6% do total de ações em dezembro de 2023.

Tipo de investidor institucional	Porcentagem de propriedade
Fundos mútuos	18.3%
Fundos de pensão	12.5%
Consultores de investimento	11.8%

Fundos de investimento do setor energético

• Total Energy Setor Investment Fund Holdings: US $ 47,3 milhões
• Número de fundos focados em energia investidos: 22
• Investimento médio por fundo do setor de energia: US $ 2,15 milhões

Indivíduos de alta rede

O segmento de investidores de alta rede representa 15,4% da base total de investidores da PVL, com um investimento médio de US $ 350.000 por investidor.

Intervalo de investimento	Número de investidores	Investimento total
$250,000 - $500,000	85	US $ 29,75 milhões
US $ 500.000 - US $ 1 milhão	42	US $ 31,5 milhões

Gerentes de portfólio de aposentadoria

Os gerentes de portfólio de aposentadoria detêm 24,7% do total de ações da PVL, com um valor agregado de investimento de US $ 63,2 milhões.

• Investimentos totais de portfólio de aposentadoria: US $ 63,2 milhões
• Número de portfólios de aposentadoria: 47
• Investimento médio por carteira de aposentadoria: US $ 1,34 milhão

Permianville Royalty Trust (PVL) - Modelo de Negócios: Estrutura de Custo

Despesas de gerenciamento operacional

Até o relatório anual de 2023, a Permianville Royalty Trust registrou despesas operacionais totais de US $ 1.287.000. O colapso inclui:

Categoria de despesa	Custo anual ($)
Operações de campo	512,000
Gerenciamento de produção	375,000
Manutenção de ativos	400,000

Conformidade e custos regulatórios

As despesas de conformidade regulatória para PVL em 2023 totalizaram US $ 453.000, que incluíram:

• Conformidade ambiental: US $ 187.000
• Sec Relatórios Conformidade: $ 156.000
• Taxas regulatórias estaduais: US $ 110.000

Sobrecarga administrativa

Os custos indiretos administrativos do Trust foram documentados em US $ 672.000 em 2023, abrangendo:

Despesa administrativa	Custo anual ($)
Despesas do escritório	215,000
Salários da equipe	357,000
Seguro corporativo	100,000

Taxas de serviço profissional

As taxas de serviço profissional para PVL em 2023 totalizaram US $ 586.000, distribuídas da seguinte forma:

• Serviços jurídicos: US $ 247.000
• Serviços de contabilidade: US $ 189.000
• Taxas de auditoria: US $ 150.000

Infraestrutura de tecnologia e relatório

As despesas de infraestrutura de tecnologia e relatório totalizaram US $ 425.000 em 2023:

Despesa de tecnologia	Custo anual ($)
Licenças de software	156,000
Infraestrutura de TI	189,000
Sistemas de relatórios	80,000

Permianville Royalty Trust (PVL) - Modelo de negócios: fluxos de receita

Renda de royalties da produção de petróleo

A partir do quarto trimestre de 2023, o Permianville Royalty Trust registrou receitas totais de produção de petróleo de US $ 8,4 milhões. A produção média diária de petróleo foi de aproximadamente 465 barris por dia.

Métrica de produção	Valor	Período
Receita total do petróleo	US $ 8,4 milhões	Q4 2023
Produção média diária de petróleo	465 barris	Q4 2023

Receitas de produção de gás natural

A produção de gás natural gerou US $ 3,2 milhões em receita para o quarto trimestre de 2023, com uma produção média diária de 1.850 mil pés cúbicos.

Métrica de produção de gás	Valor	Período
Receita total de gás natural	US $ 3,2 milhões	Q4 2023
Produção média diária de gás	1.850 MCF	Q4 2023

Pagamentos de arrendamento de direitos minerais

As receitas de pagamento do arrendamento totalizaram US $ 1,5 milhão para o ano fiscal de 2023, representando um fluxo de renda estável dos direitos minerais existentes.

Receita de investimento

A receita de investimento para 2023 foi de US $ 0,6 milhão, derivada de instrumentos financeiros de curto prazo e reservas de caixa.

Potencial venda de ativos prossegue

Em 2023, o Trust relatou potenciais recursos de venda de ativos de US $ 2,1 milhões em disposições estratégicas de propriedades.

Fluxo de receita	Receita total	Ano
Produção de petróleo	US $ 8,4 milhões	2023
Produção de gás natural	US $ 3,2 milhões	2023
Arrendamento de direitos minerais	US $ 1,5 milhão	2023
Receita de investimento	US $ 0,6 milhão	2023
VENDA DE ASTOS PROCEDIMENTOS	US $ 2,1 milhões	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.