PBT vs SJT

Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, Devonian, and Waddell fields located in Crane County, Texas. As of December 31, 2020, the Waddell Ranch properties contained 221 net productive oil wells, 39 net productive gas wells, and 67 net injection wells. The company also holds a 95% net overriding royalty in the Texas Royalty properties, which consist of various producing oil fields, such as Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, Panhandle Regular, N. Cowden, Todd, Keystone, Kermit, McElroy, Howard-Glasscock, Seminole, and others located in 33 counties in Texas. Its Texas Royalty properties comprised approximately 125 separate royalty interests containing 51,000 net producing acres. Permian Basin Royalty Trust was founded in 1980 and is based in Dallas, Texas.

San Juan Basin Royalty Trust

San Juan Basin Royalty Trust operates as an express trust in Texas. The company has a 75% net overriding royalty interest carved out of Southland's oil and natural gas interests (the Subject Interests) in properties located in the San Juan Basin in northwestern New Mexico. The Subject Interests consist of working interests, royalty interests, overriding royalty interests, and other contractual rights in 119,000 net producing acres in San Juan, Rio Arriba, and Sandoval Counties of northwestern New Mexico, as well as 825.9 net wells. BBVA USA serves as the trustee of the San Juan Basin Royalty Trust. The company was founded in 1980 and is based in Houston, Texas.