Form 8-K - Current report
December 27 2023 - 7:39AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 27, 2023
PERMIAN BASIN ROYALTY TRUST
(Exact name of Registrant as specified in its charter)
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Texas |
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1-8033 |
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75-6280532 |
(State or other jurisdiction
of incorporation or organization) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
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Argent Trust Company
3838 Oak Lawn Ave Suite
1720 Dallas, Texas |
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75219 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants Telephone Number, including area code: (855)
588-7839
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2.):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading
Symbol(s) |
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Name of each exchange
on which registered |
Units of Beneficial Interest |
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PBT |
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New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the
Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On December 27, 2023, the Permian Basin Royalty Trust (the Trust) announced that Argent Trust Company, as trustee of the
Trust, has filed a complaint in the United States District Court for the Northern District of Texas against Blackbeard Operating, LLC (Blackbeard), the operator of properties in the Waddell Ranch, in Crane County, Texas, in which the
Trust holds a 75% net overriding royalty. Pursuant to the complaint, the trustee seeks to recover more than $15 million in damages to the Trust resulting from overheard costs and other expenses the trustee alleges were impermissibly deducted
from royalty payments to the Trust.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
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PERMIAN BASIN ROYALTY TRUST |
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By: ARGENT TRUST COMPANY, TRUSTEE |
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By: |
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/s/ NANCY WILLIS |
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Nancy Willis |
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Vice President |
Date: December 27, 2023
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