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Did SoftVest’s Petition and Waddell Ranch Shortfall Just Reframe Permian Basin Royalty Trust’s (PBT) Governance Story?
Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, recently declared a cash distribution of US$0.038014 per unit, payable on May 14, 2026, to unitholders of record on April 30, 2026, with no proceeds from the Waddell Ranch properties due to excess production costs.
At the same time, unitholder SoftVest filed a petition to modify the Trust Indenture, seeking changes to voting and amendment rules that could reshape how future governance decisions are made.
We’ll now examine...