Key Highlights

  • The Trustee declared a $0.016000 per unit distribution, payable October 14, 2026 to unitholders of record September 30.
  • Monthly distributions were $0.015000 for July and $0.027000 for August, according to the trust's published distribution schedule.
  • Second-quarter distributable income was $1,122,000, or $0.034000 per unit, compared with $282,084, or $0.008548, a year earlier.
  • Six-month distributable income was $2,541,000, or $0.077000 per unit, and the trust distributed the full amount.

Overview

Permianville Royalty Trust (NYSE:PVL) declared a monthly cash distribution of $0.016000 per unit on September 18, 2026, payable October 14 to unitholders of record on September 30. The distribution yields 11.66%. Second-quarter distributable income was $1,122,000, or $0.034000 per unit, compared with $0.008548 in the second quarter of 2025.

Distribution Program and Unitholder Returns

The trustee declared a cash distribution of $0.016000 per unit on September 18, 2026, with a Record Date of September 30 and a payment date of October 14. The distribution trades ex-distribution on September 30.

The trust's published schedule shows distributions of $0.015000 for July, declared July 17, and $0.027000 for August, declared August 17. Distributions are variable and depend on the net profits interest calculation, not on a fixed rate.

About the Trust

Permianville Royalty Trust is a royalty trust whose Assets are a net profits interest in specified oil and Natural Gas properties. It is not an operating company, and unitholder distributions depend on production, realized prices, allowable costs and trust expenses. It reports distributable income as its central measure.

Second-Quarter Distributable Income

Distributable income for the three months ended June 30, 2026 was $1,122,000, or $0.034000 per unit, compared with $282,084, or $0.008548, a year earlier. Net profits income was $2,782,084, compared with $1,556,412.

For the six months, distributable income was $2,541,000, or $0.077000 per unit, and distributions per unit were the same. Cash and equivalents were $3,346,992 at June 30, 2026.

Haynesville Wells, Cost Accruals and Sponsor Reserve

The 10-Q states that natural gas sales increased $6.0 million compared with the 2025 period, including a $3.0 million increase from higher realized prices. It cites three new Haynesville wells and reports a 9% decline in oil production for the six-month period.

The September release reported oil production of 42,472 barrels and natural gas production of 554,438 Mcf. The oil price was $92.96 per barrel, compared with $95.23 in the prior month, and the natural gas price was $2.21 per Mcf, compared with $2.37.

Daily rates were 1,416 barrels of oil and 17,885 Mcf of natural gas, and oil receipts were $3.9 million and natural gas receipts were $1.2 million.

Accrued operating expenses were $2.9 million, up $0.2 million, and capital expenditures were $1.7 million, up $1.4 million. The sponsor released $0.3 million from its cash reserve while maintaining $1.8 million for anticipated development expenses, and completed a partial sale of non-producing acreage for $0.3 million, with proceeds to flow to unitholders in a future distribution. The release stated that the recent uptick in oil prices has increased the potential for drilling by operators of the underlying properties.

Outlook

Natural gas volumes and prices, oil prices, accrued operating expenses and capital expenditures, the sponsor reserve, and the trustee's monthly declarations are the relevant considerations. The second quarter is the most recent reported period.