Permianville Royalty Trust Announces Monthly Operational Update

Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced the net profits interest calculation for April 2024. The net profits interest calculation represents reported oil production for the month of January 2024 and reported natural gas production during December 2023. The calculation includes accrued costs incurred in February 2024.

As a result of the elevated capital expenditures recorded this month as described below, for which timing is not always ratable month-to-month, direct operating and development expenses exceeded cash receipts, leading to a shortfall of approximately $1.9 million this month. As a result, no monthly distribution will be paid in May 2024 to the Trust’s unitholders of record on April 30, 2024. Distributions to the Trust will resume once the cumulative net profits shortfall, which now totals approximately $4.5 million, is eliminated.

The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.

Underlying Sales Volumes

Average Price

Oil

Natural Gas

Oil

Natural Gas

Bbls

Bbls/D

Mcf

Mcf/D

(per Bbl)

(per Mcf)

Current Month

100,185

3,232

354,556