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(The Center Square) – The Texas oil and natural gas industry broke multiple records in fiscal 2024, including paying a record $27.3 billion in taxes and royalties, according to new data ...
The Permian Basin Royalty Trust (NYSE: PBT) is a United States oil and natural gas royalty trust based in Dallas, Texas.With a market capitalization of US $790,000,000, and an average daily trading volume of about 186,000 shares at the end of 2007, it was one of the largest royalty trusts in the United States.
Texas charges royalty rates of up to 25% and charges the royalties on companies' gross proceeds, while New Mexico charges royalties on proceeds after some deductions, McQueen added.
A royalty trust is a type of corporation, mostly in the United States or Canada, usually involved in oil and gas production or mining.However, unlike most corporations, its profits are not taxed at the corporate level provided a certain high percentage (e.g. 90%) of profits are distributed to shareholders as dividends.
TPL is among the largest private landowners in the State of Texas. As of 2022, the corporation owned approximately 880,000 acres (3,600 km 2) of land in 20 West Texas counties. [11] [14] Approximately two-thirds of TPL’s income is derived from oil and gas royalties.
Oct. 1—AUSTIN — Statewide and county crude oil and natural gas production as reported to the Railroad Commission of Texas for July 2024 came from 158,063 oil wells and 83,833 gas wells, a ...
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