-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MXSB2APT69xN68/tv5nhbrFG+UJNnsWC1dRtZ1w6p7SBahw9RRhtYUDlTW9SKc6n INOerpyZBMGwsJ3c69If8A== 0001025970-97-000006.txt : 19970414 0001025970-97-000006.hdr.sgml : 19970414 ACCESSION NUMBER: 0001025970-97-000006 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19970411 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: PERMIAN BASIN ROYALTY TRUST CENTRAL INDEX KEY: 0000319654 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] IRS NUMBER: 756280532 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-08033 FILM NUMBER: 97579002 BUSINESS ADDRESS: STREET 1: P O BOX 1317 CITY: FT WORTH STATE: TX ZIP: 76101 BUSINESS PHONE: 8173906905 MAIL ADDRESS: STREET 1: P O BOX 1317 CITY: FORTH WORTH STATE: TX ZIP: 76101 10-K/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K/A (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 1995 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from to Commission file number 1-8033 PERMIAN BASIN ROYALTY TRUST (Exact Name of Registrant as Specified in the Permian Basin Royalty Trust Indenture) Texas 75-6280532 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) NationsBank of Texas, N.A. Trust Department P.O. Box 1317 Fort Worth, Texas 76101 (Address of Principal Executive Offices) (Zip Code) (817) 390-6905 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of each exchange on which registered ------------------- ----------------------------------------- Units of Beneficial Interest New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No --- --- Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [x] At March 27, 1996, there were 46,608,796 Units of Beneficial Interest of the Trust outstanding with an aggregate market value on that date of $145,652,487. DOCUMENTS INCORPORATED BY REFERENCE "Units of Beneficial Interest" at page 2; "Trustee's Discussion and Analysis for the Three-Year Period Ended December 31, 1995" at pages 8 and 9; "Results of the 4th Quarters of 1995 and 1994" at page 10; and "Statements of Assets, Liabilities and Trust Corpus," "Statements of Distributable Income," "Statements of Changes in Trust Corpus," "Notes to Financial Statements" and "Independent Auditors' Report" at page 12 et seq., in registrant's Annual Report to security holders for fiscal year ended December 31, 1995 are incorporated herein by reference for Item 5 (Market for Units of the Trust and Related Security Holder Matters), Item 7 (Management's Discussion and Analysis of Financial Condition and Results of Operation) and Item 8 (Financial Statements and Supplementary Data) of Part II of this Report. AMENDMENT NO. 1 The Registrant hereby amends Exhibit 13 to its Annual Report on Form 10-K for the year ended December 31, 1995, which is Registrant's Annual Report to security holders for fiscal year ended December 31, 1995, by adding page 10 thereto entitled "RESULTS OF THE 4TH QUARTERS OF 1995 AND 1994" as follows: RESULTS OF THE 4TH QUARTERS OF 1995 AND 1994 Royalty income received by the Trust for the fourth quarter of 1995 amounted to $3,978,396 or $.085357 per Unit. For the fourth quarter of 1994, the Trust received royalty income of $4,608,555 or $.098878 per Unit. Interest income for the fourth quarter of 1995 amounted to $6,453 compared to $8,826 for the fourth quarter of 1994. The decrease in interest income can be attributed primarily to a decrease in funds available for investment. General and administrative expenses totaled $56,393 for the fourth quarter of 1995 compared to $72,126 for the fourth quarter of 1994. The decrease in general and administrative expenses is primarily due to timing differences in the receipt and payment of these expenses. Royalty income for the Trust for the fourth quarter is associated with actual oil and gas production during August through October from the properties from which the Trust's net overriding royalty interests were carved. Oil and gas sales attributable to the Royalties and the properties from which the Royalties were carved for the quarter and the comparable period for 1994 are as follows:
Fourth Quarter 1995 1994 Fourth Quarter 1995 1994 - ------------------- ------- ------- ------------------ ------- ------- Royalties Properties From Which The Royalties Were Carved Oil Sales (Bbls)____ 188,176 221,565 Total Oil Sales (Bbls)_______ 448,361 411,917 Average Price/Bbl_____ $16.27 $15.84 Average Per Day (Bbls)_____ 4,874 4,477 Gas Sales (Mcf)_______ 704,255 819,511 Total Gas Sales (Mcf)_______ 1,908,396 1,947,204 Average Price/Mcf_____ $1.56 $1.66 Average Per Day (Mcf)_____ 20,743 21,165
The posted price of oil increased for the fourth quarter of 1995 compared to the fourth quarter of 1994, resulting in an average price per barrel of $16.27 compared to $15.84 in the same period of 1994. The average price of gas remained relatively unchanged for the fourth quarter of 1995 compared to the same period in 1994. Gas sales from the properties from which the Royalties were carved remained relatively unchanged for the fourth quarter of 1995 compared to the same period in 1994. Oil sales increased primarily due to increased production from the Waddell Ranch properties due to a successful drilling program, offset by decreased production from the Texas Royalty properties primarily due to natural decline. The Trust has been advised that there were 11 gross (4.7 net) wells drilled and completed during the three months ended December 31, 1995, and there were 3 gross (.8 net) wells in progress. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NationsBank of Texas, N.A. Trustee for the Permian Basin Royalty Trust By: /s/ ERIC F. HYDEN ----------------------------- Eric F. Hyden Vice President DATE: April 11, 1997 (The Trust has no directors or executive officers.) -----END PRIVACY-ENHANCED MESSAGE-----