Permianville Royalty Trust (PVL) Announces March 2025 Operational Update

Permianville Royalty Trust (NYSE: PVL) today announced the net profits interest calculation for June 2025. The net profits interest calculation represents reported oil production for the month of March 2025 and reported natural gas production during February 2025. The calculation includes accrued costs incurred in April 2025.

For the current month, no cash remained available for distribution after the repayment of an approximately $0.1 million cash advance to the Trust for the payment of prior monthly expenses. As a result, no monthly distribution will be paid in July 2025 to the Trust’s unitholders of record on June 30, 2025. Excluding the repayment of amounts previously advanced to the Trust for the payment of prior monthly expenses, income from the net profits interest in the current month would have been approximately $0.1 million, or $0.001683 per unit.

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

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $2.3 million for the current month on realized wellhead prices of $68.01/Bbl, down $0.1 million from the prior month’s oil cash receipts.

Recorded natural gas cash receipts from the Underlying Properties totaled $1.1 million for the current month on realized wellhead prices of $2.62/Mcf, down $0.2 million from the prior month.

Total accrued operating expenses increased $0.3 million from the prior month to $2.4 million. Capital expenditures increased by $0.2 million from the prior month to $1.0 million. The capital expenditures in the current month remained elevated compared to historical monthly averages primarily due to continued drilling and completion of three Haynesville wells operated by a public super major oil company.

The Trust will not receive proceeds pursuant to its net profits interest until any net profits shortfall and prior monthly expense advancements to the Trust have been eliminated. In addition, if the Trust’s cash on hand is not sufficient to pay ordinary course administrative expenses and the Trust borrows funds or draws on the letter of credit that has been provided to the Trust, or if COERT Holdings 1 LLC (the “Sponsor”) advances funds to the Trust to pay such expenses, no further distributions will be made to Trust unitholders until such amounts borrowed or drawn, or advanced to the Trust, are repaid. At this time based on current commodity prices, the Sponsor anticipates that the Underlying Properties will return to generating positive net profits in 2025.

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