Permian Basin Royalty Trust Reports Production Results for the Month of October 2020
December 19, 2020 at 12:56 am IST
Share
Permian Basin Royalty Trust reported production results for the month of October 2020. For the month, the company reported production for oil volumes was 50,396 bbls and was priced at about $36.37 per bbl. Production for gas volumes (including gas liquids) was 128,670 mcf and was priced at about $0.65 per mcf. Production for the underlying properties at the Texas Royalties was 19,830 barrels of oil and 16,077 Mcf of gas. The production for the Trust’s allocated portion of the Texas Royalties was 16,897 barrels of oil and 13,683 of gas. The average price for oil was $37.88 per bbl and for gas was $3.65 per Mcf. This would primarily reflect production and pricing for the month of October for oil and the month of September for gas. These allocated volumes were impacted by the pricing of both oil and gas.
Permian Basin Royalty Trust is an express trust. Its Waddell Ranch Properties has mineral interests in the Waddell Ranch. Its Waddell Ranch Properties have proved reserves in six fields: Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell. The Waddell Ranch properties contain approximately 1,067 gross (499 net) productive oil wells and 108 gross (51 net) productive gas wells. The Blackbeard Operating, LLC is an operator of record of the Waddell Ranch properties. In the six fields, there are 12 producing zones ranging in depth from 2,800 to 10,600 feet. The prolific of these zones are the Grayburg and San Andres, which produce from depths between 2,800 and 3,400 feet. Also productive from San Andres are the Sand Hills gas field and the Sand Hills oil field, the Dune (Grayburg/San Andres) oil field, and the Waddell oil field. The Dune and Waddell oil fields are productive from both the Grayburg and San Andres formations.
PERMIAN BASIN ROYALTY TRUST 
