Item 1. Legal Proceedings
ITEM 1. Legal Proceedings
On October 1, 2018, a lawsuit styled Thaleia L. Marston,
Trustee of the Marston Trust v. Blackbeard Operating, LLC , et.al, No. 18-10-24761 – CVW in the 143rd District Court in
Ward County, Texas (the “2018 Litigation”) was filed, naming, among others, Boaz Energy and the Trust as defendants. The
plaintiff is a lessor under two leases operated by Blackbeard Operating LLC. The Underlying Properties include the interests of Boaz
Energy in some of the minerals covered by those leases. The litigation sought surface use damages and alleged violations of the
terms of the leases, among other things. The court had set a two-day bench trial to commence May 18, 2022, but on May 10, 2022, the
court granted motions for summary judgment effectively disposing of the plaintiff’s claims. At a status conference conducted
on May 12, 2022, the plaintiff confirmed the court’s rulings disposed of all the plaintiff’s claims. The only remaining
issue is whether the court will award attorneys’ fees to the prevailing parties, and a briefing schedule was set up for
guidance on that point. The court held a hearing regarding attorneys’ fees in June 2022. On May 12, 2023 the court entered its
Final Judgment, incorporating its prior order granting the defendants’ motion for summary judgment and granting their motion
for attorneys’ fees.
ITEM 6. Exhibits.
Exhibit
No.
Description
3.1
Certificate of Trust of PermRock Royalty Trust (incorporated by reference to Exhibit 3.3 to Registration Statement on Form S-1 (SEC File No. 333-224191) filed on April 6, 2018).
3.2
Amended and Restated Trust Agreement of PermRock Royalty Trust, dated May 4, 2018, among Boaz Energy II, LLC, Wilmington Trust, National Association, as Delaware Trustee of PermRock Royalty Trust, and Simmons Bank, as Trustee of PermRock Royalty Trust (incorporated by reference to Exhibit 3.1 to Current Report on Form 8-K (SEC File No. 001-38472) filed on May 8, 2018).
3.3
Amendment No. 1 to the Amended and Restated Trust Agreement of PermRock Royalty Trust, dated May 4, 2022 (incorporated by reference to Exhibit 4.1 to Current Report on form 8-K (SEC File No 001-38472) filed on May 6, 2022).
31.1
Section 302 Certification.*
32.1
Section 906 Certification.*
The exhibits marked with the asterisk symbol (*) are filed or furnished
with this Quarterly Report on Form 10-Q.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
PERMROCK ROYALTY TRUST
By: Argent Trust Company, as Trustee
By: /s/ Ron E. Hooper
Ron E. Hooper
SVP Royalty Trust Management
Date: May 15, 2023
The registrant, PermRock Royalty Trust, has no principal executive
officer, principal financial officer, board of directors or persons performing similar functions. Accordingly, no additional signatures
are available, and none have been provided. In signing the report above, the Trustee does not imply that it has performed any such function
or that any such function exists pursuant to the terms of the Trust Agreement under which it serves.
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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.