| Business Summary | | Permian
Basin
Royalty
Trust
(Trust),
established
by
Southland
Royalty
Company
(Southland)
has
a
75%
net
overriding
royalty
in
Southland's
fee
mineral
interest
in
the
Waddell
Ranch
in
Crane
County,
Texas
(Waddell
Ranch
properties)
and
a
95%
net
overriding
royalty
in
Southland's
major
producing
royalty
properties
in
Texas
(Texas
Royalty
properties).
The
net
overriding
royalty
interests
held
by
the
Trust
are
carved
out
of
high-quality
producing
oil
and
gas
properties
located
primarily
in
West
Texas.
The
net
overriding
royalty
interest
in
the
Waddell
Ranch
properties
is
the
largest
asset
of
the
Trust.
The
mineral
interests
in
the
Waddell
Ranch,
from
which
such
net
overriding
royalty
interest
was
carved,
are
34,205
net
acres,
containing
344
net
productive
oil
wells,
67
net
productive
gas
wells,
and
137
net
injection
wells.
The
Texas
Royalty
properties,
out
of
which
the
other
net
overriding
royalty
was
carved,
are
located
in
33
counties
across
Texas. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Permian
Basin
Royalty
Trust,
an
express
trust,
collects
the
income
from
properties
owned
by
Burlington
Resources
Oil
and
Gas
Company,
including
the
Waddell
Ranch
properties
(containing
344
oil
wells,
67
gas
wells
and
137
net
injection
wells)
and
the
Texas
Royalty
Properties.
For
the
six
months
ended
6/30/01,
total
revenues
rose
57%
to
$24.2
million.
Net
income
rose
58%
to
$23.9
million.
Results
reflect
higher
royalty
income
due
to
higher
natural
gas
prices. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Ron Hooper VP | $40K | Dollar
amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|