M&A - PermRock Royalty Trust

Form Type: 8-K

Filing Date: 2025-04-01

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025048587

Filing Summary: On March 31, 2025, PermRock Royalty Trust announced that Boaz Energy II, LLC, the former owner and operator of the oil and gas properties underlying the Trust, along with its affiliate Boaz Energy II Royalty, LLC, completed the sale as outlined in the Purchase and Sale Agreement signed on January 10, 2025, with T2S Permian Acquisition II LLC, a Delaware limited liability company. The press release containing this information is attached as Exhibit 99.1.

Document Link: View Document

Form Type: 10-K

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025046884

Filing Summary: PermRock Royalty Trust has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2024. The filing highlights significant developments within the Trust, including financial performance and business outlook. The Trust, established to hold net profits interests in oil and gas properties, reported an outstanding number of 12,165,732 Trust units as of March 28, 2025. A key development detailed in the report is the Purchase and Sale Agreement entered into by Boaz Energy II, LLC, where Boaz Energy will sell its rights and interests in the Underlying Properties and 4,884,861 Trust units to T2S Permian Acquisition II LLC. This transaction is expected to be completed at the end of March 2025, subject to customary closing conditions. The Trust derives income from an 80% net profits interest in the sale of oil and natural gas that is managed by Boaz Energy. Overall, the filing underscores the reliance on Boaz Energy for operational and financial management while preparing for the implications of the upcoming acquisition.

Document Link: View Document

Form Type: 8-K

Filing Date: 2025-01-13

Corporate Action: Acquisition

Type: New

Accession Number: 000095017025004779

Filing Summary: On January 13, 2025, PermRock Royalty Trust announced via a press release that Boaz Energy II, LLC, the owner of the oil and gas properties underlying the Trust, has indicated its intention to sell all its interests in these properties and its units of beneficial interest in the Trust to T2S Permian Acquisition II LLC. The underlying properties will still be subject to the Trust's net profits interest. The transaction is based on a Purchase and Sale Agreement that includes standard conditions to complete the transaction. If these conditions are met, the closing of the sale is expected to occur in March 2025, at which point the operations of the underlying properties will be transferred to the Buyer.

Document Link: View Document