158:, where it owns a 75% net overriding royalty interest in the fee mineral interests (in this case, oil and natural gas). Other properties of the trust are in 32 other Texas counties, most of which are in the western portion of the state, on the High Plains; the trust owns a 95% net overriding royalty interest in all of its properties outside of the Waddell Ranch.
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The principal productive zones for oil on the
Waddell Ranch are in two geologic units, the Grayburg and the San Andreas, at a depth of from 2,800 to 3,400 feet (1,000 m) below ground surface; however there are a total of 12 producing zones on the ranch, including one at a depth of 10,600 feet
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Permin Basin
Royalty Trust came into being in November 1980, with an agreement between Southland Royalty Company and the First National Bank of Fort Worth. As is the case with U.S. royalty trusts, the trust cannot function as a business, and has no employees; all operations and maintenance are
147:. With a market capitalization of US $ 790,000,000, and an average daily trading volume of about 186,000 shares at the end of 2007, it was one of the largest royalty trusts in the United States. Its source of revenue is oil and gas pumped from the geologic formation for which it is named, the
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The Trust pays a relatively high dividend, yielding an annual rate of 12.4% in early 2008; in addition, it pays out monthly, a relative rarity for U.S. stocks. However, its distribution is dependent on the prices of oil and gas; thus, unlike traditional stocks (who, when declaring a dividend,
162:(3,200 m). As of the end of 2006, there were a total of 800 operational and productive oil wells and 205 natural gas wells on the Waddell Ranch in the Trust. On December 31, 2006, the Trust claimed a lifetime of approximately 8.3 years for all mineral reserves of the Trust.
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Since the Trust's assets are considered a depletable resource, its dividend payments are not taxed at the regular dividend rate, but rather as
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instead of return on investment; this is an additional tax advantage in the United States, and applies to all royalty trusts.
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usually maintain it at the same amount for each quarter of the year), the dividend payout will differ each month.
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carried out by the
Trustee and its subcontractors. Currently, the assets of the Trust are managed by
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Oil and Gas
Company, LP, in 1996, prior to being acquired by ConocoPhillips in 2006.
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Explanation in Form 10-K on file with the
Securities and Exchange Commission
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in west Texas, as well as a few locations in other parts of the state.
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Most of the Trust's properties are on the
Waddell Ranch in
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General information about the
Permian Basin Royalty Trust
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Non-renewable resource companies established in 1980
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332:Companies listed on the New York Stock Exchange
245:CNN Money profile page on Permian Basin Trust
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256:Wall Street Journal information page on PBT
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227:Permian Basin: description of properties
327:1980 establishments in the United States
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297:Energy companies of the United States
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317:Energy companies established in 1980
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82:Ron E. Hooper, Vice President of
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282:Permian Basin Trust website
122:Permian Basin Royalty Trust
113:Permian Basin Royalty Trust
17:Permian Basin Royalty Trust
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312:Companies based in Dallas
57:, United States (1980)
132:) is a United States
193:References and notes
176:Burlington Resources
156:Crane County, Texas
71:Crane County, Texas
69:; assets mostly in
45:Oil and natural gas
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302:Petroleum in Texas
232:2008-05-17 at the
211:2008-01-31 at the
187:return of capital
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62:Headquarters
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99:natural gas
291:Categories
78:Key people
143:based in
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91:Products
41:Industry
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109:Website
51:Founded
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26:Public
136:and
126:NYSE
120:The
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134:oil
130:PBT
95:Oil
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219:^
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