05:14 PM EDT, 08/19/2025 (MT Newswires) -- Permian Basin Royalty Trust ( PBT ) said Tuesday it reached a $9 million settlement in litigation with Blackbeard Operating.
The trust, through its trustee Argent Trust, had alleged that Blackbeard failed to properly calculate and pay royalties owed.
Blackbeard operates properties in Texas in which Permian Basin Royalty Trust ( PBT ) holds a 75% net overriding royalty interest, according to the company.