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 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 defendants’ motion for attorneys’ fees. On June 12, 2023, the plaintiff filed a notice of appeal, notifying
all parties of its intent to appeal the judgment to the Eighth Court of Appeals in El Paso County, Texas. On October 26, 2023, the Eighth
Court of Appeals in El Paso County, Texas granted the plaintiff-appellant’s request for an extension of time to file its appellant
brief. The plaintiff-appellant has until November 24, 2023, to file its appellant brief.
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 Argent Trust Company, 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/ Nancy Willis
Nancy Willis
VP Trust Administrator
Date: November 14, 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.
18
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.