PRT

PermRock Royalty Trust is a Delaware statutory trust that holds net profits interests and overriding royalty interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust was created in February 2017 through a transaction with Boaz Energy II, LLC, which conveyed certain royalty interests to the trust. PermRock operates as a passive entity that collects royalty revenues from the underlying oil and gas production on approximately 4.4 net acres in the Permian Basin, primarily in Ward and Winkler Counties, Texas. The trust does not have employees, engage in active business operations, or manage the oil and gas properties. Instead, it distributes substantially all cash proceeds received from the royalty interests to unitholders on a quarterly basis, after deducting trust expenses. The trust's revenue and distributions fluctuate based on commodity prices, production volumes, and operational decisions made by the working interest owners of the underlying properties. The Bank of New York Mellon Trust Company, N.A. serves as trustee, handling administrative functions and financial reporting. PermRock provides exposure to Permian Basin production without the operational risks or capital expenditure requirements associated with direct ownership of oil and gas assets. The trust has a finite life and will terminate according to its governing documents or when the underlying royalty interests are depleted.