# EDGAR Filing Document

**Accession Number:** 0001724009
**File Stem:** 0001553350-23-000038
**Filing Date:** 2023-1
**Character Count:** 10665
**Document Hash:** 454b915e424f7e7d9d7ede49e209fa37
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001553350-23-000038.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001553350-23-000038

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230120

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PermRock Royalty Trust
- **CENTRAL INDEX KEY:** 0001724009
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **IRS NUMBER:** 826725102
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38472
- **FILM NUMBER:** 23540814

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 470727
- **STREET 2:** ATTN: LEE ANN ANDERSON
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76147
- **BUSINESS PHONE:** (855) 588-7839

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 470727
- **STREET 2:** ATTN: LEE ANN ANDERSON
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76147

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

______________

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)<br> of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): January 20, 2023**

______________

**PermRock Royalty Trust**

*(Exact name of registrant as specified in the*

*Amended and Restated PermRock Royalty Trust Agreement)*

______________

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| | | |
|:---|:---|:---|
| **Delaware** | **001-38472** | **82-6725102** |
| *(State or other jurisdiction* | *(Commission* | *(I.R.S. Employer* |
| *of incorporation or organization)* | *File Number)* | *Identification Number)* |

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**Argent Trust Company, Trustee<br> P.O. Box 470727<br> Fort Worth, Texas 76147**

*(Address of principal executive offices) (Zip Code)*

**(855) 588-7839**

*(Registrant's telephone number, including area code)*

**N/A**

*(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:

☐ 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** | **Trading Symbol(s)** | **Name of Each Exchange on Which Registered** |
| Units of Beneficial Interest | PRT | New York Stock Exchange |

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**Securities registered pursuant to Section 12(g) of the Act:**

None

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. ☐

Item 2.02 Results of Operations and Financial Condition.

On January 20, 2023, PermRock Royalty Trust (the "Trust") issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing, among other things, a cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of January 31, 2023, and payable on February 14, 2023, in the amount of $859,260.12 ($0.070629 per Trust Unit), based principally upon production during the month of November 2022.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall be deemed "furnished" and not "filed" with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release dated January 20, 2023.](prt_ex99z1.htm) |

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**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 hereunto duly authorized.

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| | |
|:---|:---|
| PERMROCK ROYALTY TRUST<br> By: Argent Trust Company, as Trustee | PERMROCK ROYALTY TRUST<br> By: Argent Trust Company, as Trustee |
| By: | /s/ Ron E. Hooper |
|  | Ron E. Hooper |
|  | SVP Royalty Trust Management |

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Date: January 20, 2023

(The Trust has no directors or executive officers.)

## Exhibit 99.1

**Exhibit 99.1**

**PermRock Royalty Trust**

**News Release** **<br>** 

<br> **PermRock Royalty Trust**

**Declares Monthly Cash Distribution**

FORT WORTH, Texas, January 20, 2023 – PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of January 31, 2023, and payable on February 14, 2023, in the amount of $859,260.12 ($0.070629 per Trust Unit), based principally upon production during the month of November 2022.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Underlying Sales Volumes** | **Underlying Sales Volumes** | **Underlying Sales Volumes** | **Underlying Sales Volumes** | **Average Price** | **Average Price** |
|  | **Oil** | **Oil** | **Natural Gas** | **Natural Gas** | **Oil** | **Natural Gas** |
|  | **Bbls** | **Bbls/D** | **Mcf** | **Mcf/D** | **(per Bbl)** | **(per Mcf)** |
| Current Month | 26948 | 898 | 33185 | 1106 | $83.57 | $5.32 |
| Prior Month | 28298 | 913 | 32584 | 1051 | $85.53 | $6.81 |

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Oil cash receipts for the properties underlying the Trust totaled $2.25 million for the current month, a decrease of $0.17 million from the prior month's distribution period. This decrease was due to a decrease in oil prices and sales volumes.

Natural gas cash receipts for the properties underlying the Trust totaled $0.18 million for the current month, a decrease of $0.04 million from the prior month's distribution period. This decrease was due to a decrease in natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.87 million reflecting a $0.10 million increase from the prior month. Severance and ad valorem taxes were $0.18 million.

Capital expenses this month were $0.45 million, an increase of $0.11 million from the prior month's distribution. Boaz Energy reports the increase in capital expenses this month was primarily related to completion of a re-entry project in the Permian Abo area.

Boaz Energy informed the Trust that this month's net profits calculation included the application of $252,000 net to the Trust of funds previously reserved by Boaz Energy to cover future capital obligations and expenses.

**About PermRock Royalty Trust**

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

**Cautionary Statement Concerning Forward-Looking Statements**

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and statements regarding Boaz Energy's operations and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by volatility in commodity prices, oversupply and the economic effects of the COVID-19 pandemic. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the SEC on March 31, 2022, and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at <u>http://www.sec.gov.</u>

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| | |
|:---|:---|
| Contact: | PermRock Royalty Trust |
|  | Argent Trust Company, Trustee |
|  | Ron E. Hooper, SVP Royalty Trust Management |
|  | Toll-free: (855) 588-7839 |
|  | Fax: (817) 298-5579 |
|  | Website: <u>www.permrock.com</u> |
|  | e-mail: <u>trustee@permrock.com</u> |

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