Permian Basin Royalty Trust has filed a Second Amended Petition in the District Court of Tarrant County, Texas against Blackbeard Operating, LLC. The Trust is seeking to recover over $9 million in damages, alleging Blackbeard improperly calculated and deducted expenses such as overhead costs, labor, and saltwater disposal fees, and failed to pay royalties on all produced volumes of oil, gas, and other minerals. The claims cover production months from April 2020 to December 2023. An audit for 2024 production is ongoing, with potential for additional claims. The trial is set for November 17, 2025. Discovery processes, including audits and expert analyses, are currently underway.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Permian Basin Royalty Trust published the original content used to generate this news brief via PR Newswire (Ref. ID: DA95337) on May 27, 2025, and is solely responsible for the information contained therein.