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Stock impact report

Permianville Royalty Trust Announces Closing of Permian Basin Divestiture [Yahoo! Finance]

Permianville Royalty Trust Units of Beneficial Interest (PVL) 
Last permianville royalty trust units of beneficial interest earnings: 11/8 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
HOUSTON, August 09, 2023 BUSINESS WIRE )--Permianville Royalty Trust (NYSE: PVL, the "Trust") today announced that COERT Holdings 1, LLC (the "Sponsor") has advised The Bank of New York Mellon Trust Company, N.A., as Trustee, that the Sponsor has completed the divestiture of certain oil and natural gas properties in the Permian Basin (the "Divestiture Properties") that constitute part of the properties burdened by the Trust's 80% net profits interest. As previously announced, at a special meeting of the Trust unitholders on July 19, 2023, the Trust unitholders approved a transaction pursuant to which (i) the Sponsor would sell the Divestiture Properties, (ii) the Trust would release the related net profits interest associated with the Divestiture Properties, and (iii) the net proceeds received by the Trust with respect to such sale would be distributed to the unitholders. The total proceeds received by the Sponsor from the Divestiture Properties, after preliminary closing adjustmen Show less Read more
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