Permian Basin Royalty Trust Announces August Cash Distribution

        Permian Basin Royalty Trust Announces August Cash Distribution

PR Newswire

DALLAS, Aug. 20, 2013

DALLAS, Aug. 20, 2013 /PRNewswire/ --Permian Basin Royalty Trust (NYSE: PBT)
("Permian") today declared a cash distribution to the holders of its units of
beneficial interest of $0.089331 per unit, payable on September 16, 2013, to
unit holders of record on August 30, 2013.

This month's distribution increased from the previous month due to lower
capital expenditures and operating expenses offset by decreased production but
higher prices of both oil and gas. Gas production to the trust continues to be
affected by prior period adjustments being processed, however the production
of the underlying properties decreased due to curtailments at the gas
processing plant.

Production for the Trust's allocated portion of the Waddell Ranch and the
Texas Royalty Properties combined for oil and gas respectively was 41,538 bbls
and 79,860 Mcf. The average price for oil was $94.33 per bbl and for gas was
$6.43 per Mcf. This would primarily reflect production for the month of June
for oil and the month of May for gas. The worldwide market conditions continue
to affect the pricing for domestic production. It is difficult to predict what
effect these conditions will have on future distributions.

                                    
              Underlying Properties
                                    Net to Trust Sales
              Volumes               Volumes             Average   Price
              Oil        Gas        Oil       Gas       Oil       Gas
              (per bbl)  (per Mcf)  (per bbl) (per Mcf) (per bbl) (per Mcf)
Current Month 90,515     201,149    41,538*   79,860*   $94.33    $6.43**
Prior Month   96,197     283,549    35,436*   57,803*   $92.93    $5.47**

*These volumes are the net to the trust, after allocation of expenses to
Trust's net profit interest.
**This pricing includes sales of gas liquid products.

Approximately seven 2013 workover wells were completed in the month of June.
Capital expenditures were approximately $2,040,861. The numbers provided
reflect what was net to the Trust. Due to the allocation method of paying for
capital expenditures and lease operating expenses, the Trust's net volumes are
reduced in order to pay these expenditures.

The results of 2012 capital expenditure program on the Waddell Ranch
Properties, along with the proposed 2013 budget, is discussed more thoroughly
in the Trust's 10-K filing, filed on March 1, and in the Annual Report that is
now available on the trust website.

The Trustee continues to evaluate the claim of $4,542,547 overpayment that was
recouped by ConocoPhillips back in September and October 2011. The accounting
adjustments and subsequent reimbursements of this claim are currently being
processed through the monthly distribution. As of June 2013, there has been
minimal effect on the distributions.

Permian's cash distribution history, current and prior year financial reports
and tax information booklets, a link to filings made with the Securities and
Exchange Commission and more can be found on its website at
http://www.pbt-permianbasintrust.com/

SOURCE Permian Basin Royalty Trust

Website: http://www.pbt-permianbasintrust.com/
Contact: Ron E. Hooper, Senior Vice President, U.S. Trust, Bank of America
Private Wealth Management, Trustee, Toll Free - 1.877.228.5085
 
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