Item 3. Legal Proceedings
Item 3.
Legal Proceedings
On December 18, 2023, the Trustee filed a complaint in the United States District Court for the Northern District of Texas against
Blackbeard Operating, LLC (Blackbeard), the operator of the Waddell Ranch properties. Pursuant to the complaint, the Trustee seeks to recover more than $15 million in damages to the Trust resulting from overheard costs and other
expenses the Trustee alleges were impermissibly deducted from royalty payments to the Trust.
Except as described above, there are no
material pending legal proceedings to which the Trust is a party or of which any of its property is the subject.
Item 4.
Mine Safety Disclosures
This Item is not applicable to the Trust.
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Table of Contents
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.