What changed in this filing

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Item 1A. Risk Factors

2023-05-10 compared with 2022-11-14 · 35 added, 37 removed, 14 unchanged (84% of the section changed)

1 unchanged sentence

fiscal year ended December 31, 2022.

Except as set forth in such filing, no material change to such risk factors has occurred during the nine months ended September 30, 2022.

Except as set forth in such filing, no material change to such risk factors has occurred during the three months ended March 31, 2023.

Items 2 through 5.

Not applicable.

Permian Basin Amended

and Restated Royalty Trust Indenture dated June 20, 2014, between Southland Royalty Company (now Burlington Resources Oil & Gas Company LP) and The First National Bank of Fort Worth (now Simmons Bank), as Trustee, heretofore filed as

Exhibit 4.1 to the Trusts Quarterly Report on Form 10-Q to the Securities and Exchange Commission for the quarterly period ended June 30, 2014, is incorporated herein by reference .

Permian Basin Amended and Restated Royalty Trust Indenture dated June

20, 2014, between Southland Royalty Company (now Burlington Resources Oil

& Gas Company LP) and The First National Bank of Fort Worth (now Argent Trust Company), as Trustee, heretofore filed as Exhibit 4.1 to the Trusts Quarterly Report on Form 10-Q to the Securities and Exchange

Commission for the quarterly period ended June 30, 2014, is incorporated herein by reference.

Amendment No.

1 unchanged sentence

4, 2022, heretofore filed as Exhibit 4.1 to the Trusts Form 8-K to the Securities and Exchange Commission filed on May 6, 2022, is incorporated herein by reference.

Net Overriding Royalty Conveyance (Permian Basin Royalty Trust) from Southland Royalty Company (now Burlington

Resources Oil & Gas Company LP) to The First National Bank of Fort Worth (now Simmons Bank), as Trustee, dated November 3, 1980 (without Schedules), heretofore filed as Exhibit (4)(b) to the Trusts Annual Report on Form 10-K to the Securities and Exchange Commission for the fiscal year ended December 31, 1980, is incorporated herein by reference.

Net Overriding Royalty Conveyance (Permian Basin Royalty Trust) from Southland Royalty Company (now Burlington

Registration Rights Agreement

dated as of July 21, 2004 by and between Burlington Resources, Inc.

and Bank of America, N.A., as trustee of Permian Basin Royalty Trust, heretofore filed as Exhibit 10.1 to the Trusts Quarterly Report on Form 10-Q to the Securities and Exchange Commission for the quarterly period ended June 30, 2004 is incorporated herein by reference.

Underwriting Agreement

dated December 15, 2005 among the Permian Basin Royalty Trust, Burlington Resources, Inc., Burlington Resources Oil & Gas L.P.

Net Overriding Royalty Conveyance (Permian Basin Royalty Trust) from Southland Royalty Company (now Burlington Resources Oil & Gas Company LP) to The First National Bank of Fort Worth (now Argent Trust Company), as Trustee,

dated November 3, 1980 (without Schedules), heretofore filed as Exhibit (4)(b) to the Trusts Annual Report on Form 10-K to the Securities and Exchange Commission for the fiscal year ended

December 31, 1980, is incorporated herein by reference.

dated November 3, 1980 (without Schedules), heretofore filed as Exhibit (4)(b) to the Trusts Annual Report on Form 10-K to the Securities and Exchange Commission for the fiscal year ended

December 31, 1980, is incorporated herein by reference.

Registration Rights Agreement dated as of July

21, 2004 by and between Burlington Resources, Inc.

and Bank of America, N.A., as trustee of Permian Basin Royalty Trust, heretofore filed as Exhibit 10.1 to the Trusts Quarterly Report on Form 10-Q to the Securities

and Exchange Commission for the quarterly period ended June 30, 2004 is incorporated herein by reference.

Underwriting Agreement dated December

15, 2005 among the Permian Basin Royalty Trust, Burlington Resources, Inc., Burlington Resources Oil

and Lehman Brothers Inc.

and Wachovia Capital Markets, LLC as representatives of the several underwriters,

heretofore filed as Exhibit 10.1 to the Trusts current report on Form 8-K to the Securities and Exchange Commission filed on December 19, 2005, is incorporated herein by reference.

Underwriting Agreement

dated August 2, 2005 among the Permian Basin Royalty Trust, Burlington Resources, Inc., Burlington Resources Oil & Gas L.P.

and Goldman Sachs & Co.

and Wachovia Capital Markets, LLC as representatives of the several underwriters, heretofore filed as Exhibit 10.1 to the Trusts current report on Form 8-K to the Securities

and Exchange Commission filed on December 19, 2005, is incorporated herein by reference.

Underwriting Agreement dated August

2, 2005 among the Permian Basin Royalty Trust, Burlington Resources, Inc., Burlington Resources Oil & Gas L.P.

and Goldman Sachs

and Lehman Brothers Inc.

as representatives of the several underwriters,

heretofore filed as Exhibit 10.1 to the Trusts current report on Form 8-K to the Securities and Exchange Commission filed on August 8, 2005, is incorporated herein by reference.

Underwriting Agreement

dated August 17, 2006 among Permian Basin Royalty Trust, ConocoPhillips, Burlington Resources Oil & Gas Company LP and Lehman Brothers Inc.

and Wachovia Capital Markets, LLC as representatives of the several underwriters heretofore

filed as Exhibit 10.1 to the Trusts current report on Form 8-K to the Securities and Exchange Commission filed on August 22, 2006, is incorporated herein by reference.

as representatives of the several underwriters, heretofore filed as Exhibit 10.1 to the Trusts current report on Form 8-K to the Securities and Exchange Commission filed on

August 8, 2005, is incorporated herein by reference.

Underwriting Agreement dated August 17, 2006, among Permian Basin Royalty Trust, ConocoPhillips, Burlington Resources Oil

& Gas Company LP and Lehman Brothers Inc.

and Wachovia Capital Markets, LLC as representatives of the several underwriters heretofore filed as Exhibit 10.1 to the Trusts current report on Form 8-K to the

Securities and Exchange Commission filed on August 22, 2006, is incorporated herein by reference.

Certification by Ron E.

Hooper, Senior Vice President Royalty Trust Management of Simmons

Bank, Trustee of Permian Basin Royalty Trust, dated November 14, 2022 and submitted pursuant to Rule 13a-14(a)/15d-14(a) and pursuant to Section 302 of the

Sarbanes-Oxley Act of 2002.

Certificate by Simmons Bank, Trustee of Permian Basin Royalty Trust, dated November 14,

2022 and submitted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C.

Section 1350).

A copy of this Exhibit is available to any Unit holder, at the actual cost of reproduction, upon written

request to the Trustee, Simmons Bank, 2911 Turtle Creek Boulevard, Suite 850, Dallas, Texas 75219.

Hooper, Senior Vice President Royalty Trust Services of Argent Trust Company, Trustee of Permian Basin Royalty Trust, dated May 10, 2023 and submitted pursuant to Rule 13a-14(a)/15d-14(a) and pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Certificate by Argent Trust Company, Trustee of Permian Basin Royalty Trust, dated May 10, 2023 and submitted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C.

A copy of this Exhibit is available to any Unit holder, at the actual cost of reproduction, upon written request to the Trustee, Argent Trust Company, 2911 Turtle Creek Boulevard, Suite 850, Dallas, Texas 75219.

Paper exhibits.

1 unchanged sentence

thereunto duly authorized.

SIMMONS BANK,

TRUSTEE FOR THE

ARGENT TRUST COMPANY,

PERMIAN BASIN ROYALTY TRUST

SVP Royalty Trust Management

November 14, 2022

(The Trust has no directors or executive officers.)

SVP Royalty Trust Services

(The Trust has no

directors or executive officers.)

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1A. Risk Factors