8-K
PERMIAN BASIN ROYALTY TRUST (PBT)
8-K
2021-06-01
For: 2021-05-27
View Original
Added on
April 04, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENTREPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 27, 2021
PERMIAN BASIN ROYALTY TRUST
(Exact name of Registrant as specified in its charter)
| Texas | 1-8033 | 75-6280532 |
|---|---|---|
| (State or other jurisdiction<br><br><br>of incorporation or organization) | (Commission<br><br><br>File Number) | (I.R.S. Employer<br><br><br>Identification No.) |
| Royalty Trust Management<br><br><br>Simmons Bank<br> <br>2911 TurtleCreek Boulevard<br> <br>Suite 850<br><br><br>Dallas, Texas | 75219 | |
| --- | --- | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s Telephone Number, including area code: (855)588-7839
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17<br>CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br><br><br>Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Units of Beneficial Interest | PBT | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On May 27, 2021, the Registrant published the Registrant’s full reserve report as of December 31, 2020 prepared by Cawley, Gillepsie & Associates, Inc., a summary of which was filed as an exhibit to the Registrant’s Form 10-K for the year ended December 31, 2020. The reserve report is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This Report on Form 8-K is being furnished pursuant to Item 7.01, Regulation FD Disclosure. The information furnished is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
|---|---|
| 23.1 | Consent of Cawley, Gillespie & Associates, Inc. |
| --- | --- |
| 99.1 | Report of Cawley, Gillespie & Associates, Inc. |
SIGNATURES
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.
| PERMIAN BASIN ROYALTY TRUST | |
|---|---|
| By: | SIMMONS BANK, TRUSTEE FOR PERMIAN BASIN ROYALTY TRUST |
| By: | /s/ RON E. HOOPER |
| Ron E. Hooper | |
| Senior Vice President |
Date: June 1, 2021
EX-23.1
Exhibit 23.1
CONSENT OF CAWLEY, GILLESPIE & ASSOCIATES, INC.
June 1, 2021
Permian Basin Royalty Trust
Simmons Bank
2911 Turtle Creek Boulevard, Suite 850
Dallas, Texas 75219
Gentlemen:
Cawley, Gillespie & Associates, Inc., hereby consents to the inclusion of the reserve reports dated February 2, 2021 in the Form 8-K filed by Permian Basin Royalty Trust with the Securities and Exchange Commission on the date hereof.
| Submitted, |
|---|
| /s/ Cawley, Gillespie & Associates, Inc. |
| Cawley, Gillespie & Associates, Inc. |
| Texas Registered Engineering Firm F-693 |
EX-99.1
Exhibit 99.1
PERMIAN BASIN ROYALTY TRUST
WADDELL RANCH PROPERTIES
CRANE COUNTY, TEXAS
AND
TEXAS ROYALTYPROPERTIES
VARIOUS TEXAS COUNTIES
PERMIAN BASIN ROYALTY TRUST INTERESTS
PROVED RESERVES AND ECONOMIC FORECASTS
AS OF DECEMBER 31, 2020
PREPARED WITH SEC PRICE AND COST CRITERIA
VOLUME I OF II
Texas Registered Engineering Firm F-693
PERMIAN BASIN ROYALTY TRUST
WADDELL RANCH PROPERTIES
CRANE COUNTY, TEXAS
AND
TEXAS ROYALTYPROPERTIES
VARIOUS TEXAS COUNTIES
PERMIAN BASIN ROYALTY TRUST INTERESTS
PROVED RESERVES AND ECONOMIC FORECASTS
AS OF DECEMBER 31, 2020
PREPARED WITH SEC PRICE AND COST CRITERIA
VOLUME I OF II
| CAWLEY, GILLESPIE & ASSOCIATES, INC. |
|---|
| Petroleum Consultants |
| Texas Registered Engineering Firm F-693 |
| KENNETH MUELLER, P.E. 86132 |
| VICE PRESIDENT |
WADDELL RANCH PROPERTIES AND TEXAS ROYALTY PROPERTIES
Permian Basin Royalty Trust Interests
As of December 31, 2020
Table of Contents
Volume I
Letter of Transmittal
Table of Contents
| WADDELL RANCH PROPERTIES | |
|---|---|
| Total Proved Reserves | Table I – Total Proved |
| Summary Plot – Total Proved | |
| One-Line Lease Reserves Summary | Table II – Total Proved (8 pages) |
| Proved Developed Producing Reserves | Table I – PDP |
| Summary Plot – Proved Developed Producing | |
| One-Line Lease Reserves Summary | Table II – PDP (7 pages) |
| Individual Lease Forecasts Graphs and Tables | Tables 1 – 110 |
| Proved Developed Non-ProducingReserves | Table I – PDNP |
| Summary Plot – Proved Developed<br>Non-Producing | |
| One-Line Lease Reserves Summary | Table II – PDNP (1 page) |
| Individual Lease Forecasts Tables | Tables 1 – 4 |
| Proved Undeveloped Reserves | Table I – PUD |
| Summary Plot – Proved Undeveloped | |
| One-Line Lease Reserves Summary | Table II – PUD (1 page) |
| Individual Lease Forecasts Tables | Tables 1 – 9 |
Volume II
| TEXAS ROYALTY PROPERTIES | |
|---|---|
| Proved Reserves | Table I - Proved |
| Summary Plot – Proved | |
| One-Line Lease Reserves Summary | Table II – Proved (10 pages) |
| Individual Lease Forecasts Graphs and Tables | Tables 1 – 127 |
| Appendix I | |
| Waddell Ranch Properties Interest Computation | Page 1 |
| Texas Royalty Properties Interest Computation | Page 2 |
| Appendix II | |
| --- | --- |
| Explanatory Comments | Page 1 |
| Methods Employed in the Estimation of Reserves | Page 2 |
| Reserve Definitions and Classifications | Pages 3-4 |
Exhibit 99.1
CAWLEY, GILLESPIE & ASSOCIATES, INC.
| PETROLEUM CONSULTANTS | ||
|---|---|---|
| 13640 BRIARWICK DRIVE, SUITE 100<br> <br>AUSTIN, TEXAS<br>78729-1707<br> <br>512-249-7000 | 306 WEST SEVENTH STREET, SUITE 302<br><br><br>FORT WORTH, TEXAS 76102-4987<br> <br>817- 336-2461<br> <br>www.cgaus. com | 1000 LOUISIANA STREET, SUITE 1900<br><br><br>HOUSTON, TEXAS 77002-5008<br> <br>713-651-9944 |
February^^2,^^2021
Mr. Ron Hooper
Permian Basin Royalty Trust
2911 Turtle Creek Blvd., Suite 850
Dallas, Texas 75219
| Re: Evaluation Summary<br><br><br>Permian Basin Royalty Trust Interests Proved Reserves<br><br><br>As of December 31, 2020 | Pursuant to the Rules and Regulations of the<br><br><br>Securities and Exchange Commission for<br> <br>ReportingCorporate Reserves and<br> <br>Future Net Revenue |
|---|
Dear Mr. Hooper:
As requested, we are submitting this report of the estimates of proved reserves and economics forecasts attributable to the Permian Basin Royalty Trust interests effective as of December 31, 2020, completed February 2, 2021 for the purpose of reporting corporate reserves and future net revenue. This report has been prepared for the Permian Basin Royalty Trust pursuant to the rules, regulations and guidelines of the Securities and Exchange Commission, Item 1202 (a) (8) of Regulation S-K, for reporting corporate reserves and future net revenue. We reviewed 100 percent of the total proved reserves of the Permian Basin Royalty Trust in connection with the preparation of this report. The proved reserves presented in this report constitute 100 percent of the proved reserves owned by the Permian Basin Royalty Trust, all of which are located in the United States.
Composite reserve estimates and economic forecasts for the proved reserves are summarized below:
| Texas RoyaltyProperties | Waddell<br>Ranch Properties | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Proved<br>Developed<br>Producing | Proved<br>Developed<br>Producing | Proved<br>Developed<br>Non-<br>Producing | Proved<br>Undeveloped | |||||||
| Net Reserves | ||||||||||
| Oil/Condensate | - Mbbl | 4,450.8 | 2,980.1 | 766.0 | 89.4 | 615.3 | ||||
| Gas | - MMcf | 6,398.7 | 1,598.0 | 3,337.2 | 136.1 | 1,327.4 | ||||
| Net Revenue | ||||||||||
| Oil/Condensate | - M | 160,884.6 | 107,968.6 | 27,561.8 | 3,215.6 | 22,138.7 | ||||
| Gas | - M | 18,794.6 | 5,832.7 | 9,010.4 | 367.4 | 3,584.1 | ||||
| Severance Taxes | - M | 9,233.6 | 5,086.6 | 1,746.4 | 1,190.8 | 1,209.8 | ||||
| Operating Income (BFIT) | - M | 170,445.5 | 108,714.7 | 34,825.8 | 2,392.1 | 24,513.0 | ||||
| Discounted at 10% | - M | 80,091.5 | **** | 46,239.0 | **** | 23,216.1 | **** | 396.8 | **** | 10,239.5 |
All values are in US Dollars.
Mr. Ron Hooper
Permian Basin Royalty Trust Interests
February 2, 2021
Page 2
In accordance with the Securities and Exchange Commission guidelines, the future net cash flow, operating income (BFIT), has been discounted at an annual rate of 10% to determine its “present worth”. The discounted value, “present worth”, is indicative of the time value of money. The discounted value, “present worth”, shown above should not be construed to represent an estimate of the fair market value by Cawley, Gillespie & Associates, Inc.
The Permian Basin Royalty Trust consists of the Waddell Ranch Properties located in Crane County, Texas, and the Texas Royalty Properties located in various counties in Texas.
As to the assumptions, methods and procedures used in connection with the preparation of this report, prices were forecast in accordance with Securities and Exchange Commission rules and guidelines. The prices are determined as an unweighted arithmetic average of the first-day-of-the- month benchmark price for each month of 2020. The 12-month average benchmark Henry Hub spot gas price of $2.00 per MMBtu and 12-month average benchmark WTI Cushing spot oil price of $39.57 per barrel (source: Bloomberg) were used. The oil and gas prices were held constant throughout the life of the properties. The prices were adjusted for gravity, quality, heating value, shrinkage, transportation and marketing. For the Texas Royalty Properties, the gas and oil prices were adjusted using differentials of +$1.65 per Mcf and -$3.34 per barrel, respectively. For the Waddell Ranch Properties, the gas and oil prices were adjusted using differentials of +$0.70 per Mcf and -$3.59 per barrel, respectively. For the Texas Royalty Properties, the resulting oil and gas prices are $36.23 per barrel and $3.65 per MCF, respectively. For the Waddell Ranch Properties, the resulting oil and gas prices are $35.98 per barrel, and $2.70 per MCF, respectively.
For the Waddell Ranch Properties, operating expenses and capital costs were based on an analysis of data provided by ConocoPhillips. Operating expenses include direct lease operating expenses and administrative overhead. The operating expenses range from $3,309 per well per month to $5,500 per well per month. Investments include drilling costs, work-over costs, production equipment and facilities costs. No operating expense or capital cost data is available for the Texas Royalty Properties since they are purely a royalty interest only. Based on an analysis of the Permian Basin Royalty Trust Monthly reports, severance taxes were forecast as 4.61% and 5.28% of oil and gas revenue, respectively, for the Waddell Ranch Properties. For the Texas Royalty Properties, severance taxes were forecast as 4.36% and 6.50% of oil and gas revenue, respectively. The ad valorem taxes were forecast as 3.43% and 6.91% for the Waddell Ranch Properties and the Texas Royalty Properties, respectively. Neither expenses nor investments were escalated. The cost of plugging and the salvage value of equipment have not been considered.
The reserves were estimated using the production performance, volumetric or analogy methods, or a combination of these methods. In each case, we used the method or combination of methods that we considered appropriate and necessary to establish the reserves and conclusions presented. Riverhill Energy Corporation supplied the royalty production data for the Texas Royalty Properties. For these properties, the proved producing reserves are forecast using the production performance, decline analysis method to an estimated final production rate equal to approximately one-tenth of the current production rate. The producing reserves for the Waddell Ranch Properties were estimated using the production performance or analogy methods or a combination of these methods. The non-producing reserves were estimated using the analogy or volumetric methods or a combination of these methods.
Mr. Ron Hooper
Permian Basin Royalty Trust Interests
February 2, 2021
Page 3
The reserve classifications conform to the definitions and criteria of the Securities and Exchange Commission. The reserves and economics are predicated on the regulatory agency classifications, rules, policies, laws, taxes and royalties in effect on the effective date except as noted herein. The possible effects of changes in legislation or other Federal or State restrictive actions which could affect the reserves and economics have not been considered. We are not aware of any legislative changes or restrictive actions that may possibly impact the reserves or economics as presented. Possible environmental liability related to the properties has not been investigated nor considered. The assumptions, data, methods and procedures as described are appropriate for the purpose of this report. All reserve estimates represent our best judgment based on data available at the time of preparation and assumptions as to future economic and regulatory conditions. Due to the inherent uncertainties of reserves estimates, future production rates, commodity prices, costs and expenses, it should be realized that the reserves actually recovered, the revenue received and the actual cost incurred could be more or less than the estimated amounts.
The reserve estimates were based on interpretations of factual data furnished by ConocoPhillips, Riverhill Energy Corporation and the Permian Basin Royalty Trust. Liquid and gas price information, cost and expense history, subject wells and ownership were supplied by one or more of the above and were accepted as furnished. To some extent, information from public records has been used to check and/or supplement these data. The basic engineering and geological data were utilized subject to third party reservations and qualifications. Nothing has come to our attention, however, that would cause us to believe that we are not justified in relying on such data. An on-site inspection of these properties has not been made nor have the wells been tested by Cawley, Gillespie & Associates, Inc. We have used all methods and procedures that we consider necessary under the circumstances to prepare this report.
Cawley, Gillespie & Associates, Inc. is independent with respect to the Permian Basin Royalty Trust as provided in the Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserve Information promulgated by the Society of Petroleum Engineers. Neither Cawley, Gillespie & Associates, Inc. nor any of its employees has any interest in the subject properties. Neither the employment to make this study nor the compensation is contingent on the results of our work or the future performance of the subject properties. Cawley, Gillespie and Associates, Inc. is a Texas registered engineering firm, F-
693, of professional engineers and geologists serving the oil and gas industry for over fifty years. This report was prepared by, or under the supervision of, Kenneth J. Mueller, a Texas licensed professional
engineer, 86132.
| Respectfully submitted, |
|---|
| CAWLEY, GILLESPIE & ASSOCIATES, INC. |
| Texas Registered Engineering Firm F-693 |
| Kenneth J. Mueller, P.E. 86132 |
| Vice President |
Table I - Total Proved
Composite of Reserve Estimates and Economic Forecasts
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross Oil<br>Production<br>MBBLS | Gross Gas<br>Production<br>MMCF | Net Oil<br>Production<br>MBBLS | Net Gas<br>Sales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 1,414.2 | **** | 6,373.4 | **** | -288.453 | **** | -353.629 | |||||
| **** | 12-2022 | **** | 1,535.6 | **** | 5,959.2 | **** | 322.252 | **** | 1,028.530 | |||||
| **** | 12-2023 | **** | 1,281.1 | **** | 4,651.4 | **** | 257.457 | **** | 809.750 | |||||
| **** | 12-2024 | **** | 1,139.2 | **** | 4,170.3 | **** | 208.651 | **** | 641.752 | |||||
| **** | 12-2025 | **** | 994.3 | **** | 3,597.7 | **** | 169.783 | **** | 505.304 | |||||
| **** | 12-2026 | **** | 770.3 | **** | 2,518.9 | **** | 140.289 | **** | 406.816 | |||||
| **** | 12-2027 | **** | 690.1 | **** | 2,237.9 | **** | 116.965 | **** | 330.301 | |||||
| **** | 12-2028 | **** | 533.1 | **** | 1,623.8 | **** | 97.763 | **** | 270.150 | |||||
| **** | 12-2029 | **** | 482.2 | **** | 1,451.3 | **** | 81.723 | **** | 221.348 | |||||
| **** | 12-2030 | **** | 421.1 | **** | 1,220.5 | **** | 67.645 | **** | 180.058 | |||||
| **** | 12-2031 | **** | 365.0 | **** | 1,004.3 | **** | 55.806 | **** | 146.927 | |||||
| **** | 12-2032 | **** | 333.6 | **** | 916.3 | **** | 45.322 | **** | 117.897 | |||||
| **** | 12-2033 | **** | 303.8 | **** | 828.0 | **** | 35.824 | **** | 91.756 | |||||
| **** | 12-2034 | **** | 229.1 | **** | 581.4 | **** | 27.723 | **** | 70.934 | |||||
| **** | 12-2035 | **** | 186.0 | **** | 485.5 | **** | 21.271 | **** | 54.652 | |||||
| **** | S Tot | **** | 10,678.8 | **** | 37,619.7 | **** | 1,360.020 | **** | 4,522.544 | |||||
| **** | After | **** | 771.4 | **** | 2,121.1 | **** | 110.687 | **** | 278.134 | |||||
| **** | Total | **** | 11,450.2 | **** | 39,740.8 | **** | 1,470.708 | **** | 4,800.678 | |||||
| **** | Cum | **** | 431,955.9 | **** | 1,353,590.4 | |||||||||
| **** | Ult | **** | 443,406.2 | **** | 1,393,331.2 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 587.8 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 621.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 459.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 451.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 448.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 348.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 304.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 192.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 189.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 182.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 152.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 150.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 150.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 128.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 88.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| SEC 12-31-2020 Benchmark Prices | Percent | Cum. Disc. | ||||
|---|---|---|---|---|---|---|
| WTI Spot | Henry Hub | 5.00 | 44,618.8 | |||
| Year | Oil $/STB | Gas $/MMBTU | 10.00 | 33,852.5 | ||
| 2021 | 39.57 | 2.00 | **** | 15.00 | **** | 26,456.2 |
| Thereafter | Flat | Flat | **** | 20.00 | **** | 21,079.7 |
| Cap | 39.57 | 2.00 | **** | 25.00 | **** | 17,012.2 |
| **** | 30.00 | **** | 13,840.9 |
12 Months in first year
49.250 Year Life (04/2070)
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | 01/29/2021 | 16:31:21 |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Summary
Cawley, Gillespie & Associates, Inc.
Table II - Total Proved
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| Current<br><br><br>Interest | WellCnt<br><br><br>Life | Ultimate<br><br><br>Recovery | Gross<br><br><br>Reserves | Net<br><br><br>Reserves | Oil Revenue<br>Gas Revenue | Prod Tax<br>Adv. Tax | Expenses<br>Investments | Future Net<br>Cash Flow | Cash Flow<br>Disc.@ 10.0 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEASE NAME | Start | |||||||||||||||||||||
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||
| DUNE (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 79 | **** | 82,877.4 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 1 | PDP | Oil | 1 | 37.5000 WI | **** | 0.0 | **** | 4,921.4 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 20 | **** | 20,686.4 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 2 | PDP | Oil | 2 | 37.5000 WI | **** | 0.0 | **** | 11,024.2 | **** | 0.0 | **** | 0.0 | ||||||||||
| UNIVERSITY-WADDELL (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 2 | **** | 2,185.4 | **** | 11.5 | **** | 0.4 | |||||||||||||
| 3 | PDP | Oil | 26 | 37.5000 WI | **** | 3.8 | **** | 5,524.7 | **** | 16.9 | **** | 0.6 | ||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 36 | **** | 43,202.3 | **** | 910.0 | **** | 81.5 | |||||||||||||
| 4 | PDP | Oil | 27 | 37.5000 WI | **** | 13.4 | **** | 98,259.9 | **** | 1,645.3 | **** | 145.1 | ||||||||||
| WADDELL (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 36 | **** | 74,275.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 5 | PDP | Oil | 30 | 37.5000 WI | **** | 0.0 | **** | 31,962.9 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN TR 3 | 0.0000 NI | **** | 36 | **** | 28.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 6 | PDP | Oil | 32 | 37.5000 WI | **** | 0.0 | **** | 394.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL (GRAYBURG) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 4 | **** | 96.8 | **** | 12.8 | **** | 0.8 | |||||||||||||
| 7 | PDP | Oil | 149 | 37.5000 WI | **** | 2.1 | **** | 717.2 | **** | 16.6 | **** | 1.0 | ||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A 2075 | 50.0000 NI | **** | 2 | **** | 448.8 | **** | 326.0 | **** | 82.1 | |||||||||||||
| 8 | PDP | Oil | 195 | 50.0000 WI | **** | 35.0 | **** | 1,271.8 | **** | 1,007.5 | **** | 252.9 | ||||||||||
| WADDELL WN ETAL TR A 2076 | 50.0000 NI | **** | 1 | **** | 462.1 | **** | 378.8 | **** | 111.1 | |||||||||||||
| 9 | PDP | Oil | 196 | 50.0000 WI | **** | 49.2 | **** | 1,228.8 | **** | 1,005.0 | **** | 294.2 | ||||||||||
| SAND HILLS (JUDKINS) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 146 | **** | 11,635.0 | **** | 166.6 | **** | 4.7 | |||||||||||||
| 10 | PDP | Oil | 4 | 50.0000 WI | **** | 1.6 | **** | 103,821.4 | **** | 1,791.6 | **** | 46.5 | ||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 146 | **** | 462.3 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 11 | PDP | Gas | 5 | 50.0000 WI | **** | 0.0 | **** | 390,364.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR A/C | 0.0000 NI | **** | 146 | **** | 3.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 12 | PDP | Oil | 169 | 50.0000 WI | **** | 0.0 | **** | 3.4 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR C | 0.0000 NI | **** | 146 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 13 | PDP | Gas | 6 | 50.0000 WI | **** | 0.0 | **** | 5,157.9 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 146 | **** | 43.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 14 | PDP | Oil | 7 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 11 | **** | 31.1 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 15 | PDP | Gas | 8 | 40.6250 WI | **** | 0.0 | **** | 22,005.6 | **** | 0.0 | **** | 0.0 | ||||||||||
| SAND HILLS (MCKNIGHT) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL W N | 12.5000 NI | **** | 1 | **** | 326.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 16 | PDP | Oil | 1 | 16 | 0.0000 WI | **** | 0.0 | **** | 189.0 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 105 | **** | 98,002.0 | **** | 860.3 | **** | 62.2 | |||||||||||||
| 17 | PDP | Oil | 11 | 50.0000 WI | **** | 6.9 | **** | 344,554.3 | **** | 3,680.5 | **** | 258.2 | ||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 105 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 18 | PDP | Gas | 12 | 50.0000 WI | **** | 0.0 | **** | 16,869.4 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR A/C | 50.0000 NI | **** | 5 | **** | 54.1 | **** | 1.9 | **** | 0.0 | |||||||||||||
| 19 | PDP | Oil | 168 | 50.0000 WI | **** | 0.3 | **** | 65.2 | **** | 2.3 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 2,511.8 | **** | 10.5 | **** | 0.7 | |||||||||||||
| 20 | PDP | Oil | 13 | 50.0000 WI | **** | 6.8 | **** | 7,170.0 | **** | 2.3 | **** | 0.2 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 1
Table II - Total Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| Current<br><br><br>Interest | WellCnt<br><br><br>Life | Ultimate<br><br><br>Recovery | Gross<br><br><br>Reserves | Net<br><br><br>Reserves | Oil Revenue<br>Gas Revenue | Prod Tax<br>Adv. Tax | Expenses<br>Investments | Future Net<br>Cash Flow | Cash Flow<br>Disc.@ 10.0 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEASE NAME | Start | |||||||||||||||||||||
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||
| SAND HILLS (MCKNIGHT) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 2 | **** | 9.5 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 21 | PDP | Gas | 14 | 40.6250 WI | **** | 0.0 | **** | 1,736.2 | **** | 0.0 | **** | 0.0 | ||||||||||
| SAND HILLS (TUBB - SAN ANGELO) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR C | 0.0000 NI | **** | 2 | **** | 2.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 22 | PDP | Oil | 188 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| SAND HILLS (TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 89 | **** | 41,267.1 | **** | 643.3 | **** | 35.3 | |||||||||||||
| 23 | PDP | Oil | 19 | 50.0000 WI | **** | 4.8 | **** | 94,021.7 | **** | 3,328.0 | **** | 175.0 | ||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 89 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 24 | PDP | Gas | 20 | 50.0000 WI | **** | 0.0 | **** | 4,368.6 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 1,878.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 25 | PDP | Oil | 21 | 50.0000 WI | **** | 0.0 | **** | 407.3 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 15 | **** | 2,647.1 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 26 | PDP | Oil | 22 | 40.6250 WI | **** | 0.0 | **** | 5,882.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 15 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 27 | PDP | Gas | 23 | 40.6250 WI | **** | 0.0 | **** | 4,145.4 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR J | 40.6250 NI | **** | 1 | **** | 641.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 28 | PDP | Oil | 25 | 40.6250 WI | **** | 0.0 | **** | 296.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK 31 NW (PENN UPPER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 3 | **** | 1,155.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 29 | PDP | Oil | 41 | 37.5000 WI | **** | 0.0 | **** | 1,059.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN TR 4 | 0.0000 NI | **** | 3 | **** | 286.1 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 30 | PDP | Oil | 42 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| DUNE (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 0.0000 NI | **** | 3 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 31 | PDP | Gas | 53 | 37.5000 WI | **** | 0.0 | **** | 896.9 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 873.3 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 32 | PDP | Oil | 54 | 37.5000 WI | **** | 0.0 | **** | 461.8 | **** | 0.0 | **** | 0.0 | ||||||||||
| EDWARDS (GRAYBURG) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 0.0000 NI | **** | 1 | **** | 178.4 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 33 | PDP | Oil | 56 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| RM (CLEARFORK) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR 1 | 0.0000 NI | **** | 1 | **** | 383.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 34 | PDP | Oil | 120 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| UNIVERSITY WADDELL (GRAYBURG) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 5.8 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 35 | PDP | Oil | 185 | 37.5000 WI | **** | 0.0 | **** | 2.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| UNIVERSITY WADDELL (ELLENBURGER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 0.0000 NI | **** | 1 | **** | 7.7 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 36 | PDP | Oil | 166 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| UNIVERSITY WADDELL (PENN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 94.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 37 | PDP | Oil | 97 | 37.5000 WI | **** | 0.0 | **** | 194.3 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 2
Table II - Total Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| Current | WellCnt | Ultimate | Gross | Net | Oil Revenue | Prod Tax | Expenses | Future Net | Cash Flow | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEASE NAME | Start | Interest | Life | Recovery | Reserves | Reserves | Gas Revenue | Adv. Tax | Investments | Cash Flow | Disc.@ 10.0 | |||||||||||
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||
| UNIVERSITY WADDELL (WADDELL SD) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR 3 | 37.5000 NI | **** | 1 | **** | 362.1 | **** | 115.3 | **** | 20.8 | |||||||||||||
| 38 | PDP | Oil | 102 | 37.5000 WI | **** | 30.2 | **** | 128.3 | **** | 17.3 | **** | 3.1 | ||||||||||
| WADDELL (WICHITA ALBANY) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 8.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 39 | PDP | Oil | 193 | 37.5000 WI | **** | 0.0 | **** | 7.7 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 2 | **** | 195.0 | **** | 18.1 | **** | 1.0 | |||||||||||||
| 40 | PDP | Oil | 98 | 37.5000 WI | **** | 7.2 | **** | 410.9 | **** | 70.4 | **** | 3.9 | ||||||||||
| WN WADDELL DPU 1233 | 18.7500 NI | **** | 1 | **** | 0.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 41 | PDP | Oil | ERDU | 197 | 18.7500 WI | **** | 0.0 | **** | 0.6 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL (GRAYBURG) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 3.7 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 42 | PDP | Gas | 145 | 37.5000 WI | **** | 0.0 | **** | 33.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL (GRAYBURG-QUEEN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 20 | **** | 159.3 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 43 | PDP | Gas | 99 | 37.5000 WI | **** | 0.0 | **** | 29,657.6 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK 27 (MCKEE) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 0.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 44 | PDP | Gas | 39 | 50.0000 WI | **** | 0.0 | **** | 13,624.7 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK B-21 (ELLENBURGER-TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 16.8 | **** | 4.3 | **** | 0.4 | |||||||||||||
| 45 | PDP | Oil | 183 | 50.0000 WI | **** | 4.4 | **** | 256.9 | **** | 78.0 | **** | 6.8 | ||||||||||
| BLOCK B-21 (ELLENBURGER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL | 0.0000 NI | **** | 1 | **** | 874.5 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 46 | PDP | Oil | 43 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK B-21 (TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 330.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 47 | PDP | Oil | 45 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK B-27 (CONNELL) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 3.4 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 48 | PDP | Oil | 0357 | 137 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| C-BAR (SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 656.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 49 | PDP | Oil | 46 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| CORDONA LAKE (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 1 | **** | 646.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 50 | PDP | Oil | 47 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| CORDONA LAKE N (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 3 | **** | 1,070.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 51 | PDP | Oil | 49 | 40.6250 WI | **** | 0.0 | **** | 3,849.1 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 3
Table II - Total Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestemnts | Future NetCash Flow | Cash FlowDisc.@ 0.0 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL /MMCF | M / M | M / M | M / M | M | M | ||||||||||||
| CORDONA LAKE N (TUBB 4500) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WNETAL TR I | 0.0000 NI | **** | 3 | **** | 1,058.6 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 52 | PDP | Oil | 48 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| CORDONA LAKE SW (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 3 | **** | 590.8 | **** | 12.2 | **** | 0.4 | |||||||||||||||
| 53 | PDP | Oil | 50 | 40.6250 WI | **** | 2.2 | **** | 1,084.2 | **** | 14.5 | **** | 0.5 | ||||||||||||
| CORDONA LAKE W (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 8 | **** | 1,784.4 | **** | 8.3 | **** | 0.2 | |||||||||||||||
| 54 | PDP | Oil | 51 | 40.6250 WI | **** | 0.8 | **** | 8,636.3 | **** | 55.4 | **** | 1.0 | ||||||||||||
| CRAWAR (SAN ANDRES CONS) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL W N | 9.2940 NI | **** | 1 | **** | 96.0 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 55 | PDP | Oil | 1 | 94 | 0.0000 WI | **** | 0.0 | **** | 13.4 | **** | 0.0 | **** | 0.0 | |||||||||||
| DELL (SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR E | 50.0000 NI | **** | 1 | **** | 557.1 | **** | 0.6 | **** | 0.0 | |||||||||||||||
| 56 | PDP | Oil | 52 | 50.0000 WI | **** | 0.3 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| LEA (SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 1 | **** | 221.5 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 57 | PDP | Oil | 57 | 50.0000 WI | **** | 0.0 | **** | 303.3 | **** | 0.0 | **** | 0.0 | ||||||||||||
| LEA SOUTH (CLEAR FORK) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 1 | **** | 482.7 | **** | 21.0 | **** | 2.4 | |||||||||||||||
| 58 | PDP | Oil | 59 | 50.0000 WI | **** | 8.5 | **** | 1,356.4 | **** | 5.6 | **** | 0.6 | ||||||||||||
| LEA SOUTH (SAN ANGELO) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 4 | **** | 665.0 | **** | 5.2 | **** | 0.1 | |||||||||||||||
| 59 | PDP | Oil | 61 | 50.0000 WI | **** | 0.8 | **** | 650.9 | **** | 2.6 | **** | 0.0 | ||||||||||||
| LEA SOUTH (TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 0.0000 NI | **** | 4 | **** | 133.4 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 60 | PDP | Oil | 62 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| MCKEE (CLEAR FORK LOWER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 4 | **** | 218.3 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 61 | PDP | Oil | 184 | 63 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||
| MCKEE (CLEAR FORK) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 3 | **** | 2.6 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 62 | PDP | Gas | 124 | 40.6250 WI | **** | 0.0 | **** | 2,346.6 | **** | 0.0 | **** | 0.0 | ||||||||||||
| MCKEE (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 1 | **** | 58.4 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 63 | PDP | Oil | 64 | 40.6250 WI | **** | 0.0 | **** | 1,703.5 | **** | 0.0 | **** | 0.0 | ||||||||||||
| RUNNING W (JUDKINS) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 64 | PDP | Gas | 133 | 50.0000 WI | **** | 0.0 | **** | 193.4 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 4
Table II - Total Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 0.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | |||||||||
| RUNNING W (JUDKINS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 6.1 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 65 | PDP | Oil | 160 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W (TUBB) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 9.2 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 66 | PDP | Gas | 67 | 50.0000 WI | **** | 0.0 | **** | 352.1 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 5 | **** | 1,307.4 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 67 | PDP | Oil | 69 | 50.0000 WI | **** | 0.0 | **** | 10,516.7 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W (WADDELL) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 13 | **** | 15,017.4 | **** | 21.9 | **** | 0.3 | ||||||||||||
| 68 | PDP | Oil | 73 | 50.0000 WI | **** | 1.4 | **** | 46,580.8 | **** | 152.1 | **** | 1.7 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 69 | PDP | Gas | 125 | 50.0000 WI | **** | 0.0 | **** | 101.5 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 70 | PDP | Gas | 126 | 50.0000 WI | **** | 0.0 | **** | 94.8 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 71 | PDP | Gas | 138 | 50.0000 WI | **** | 0.0 | **** | 1.5 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W (WICHITA ALBANY) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 104.8 | **** | 11.6 | **** | 1.9 | ||||||||||||
| 72 | PDP | Gas | 75 | 50.0000 WI | **** | 8.1 | **** | 3,166.2 | **** | 146.5 | **** | 23.3 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 72.2 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 73 | PDP | Oil | 77 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 74 | PDP | Gas | 132 | 50.0000 WI | **** | 0.0 | **** | 391.3 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W NORTH (WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 15.5 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 75 | PDP | Oil | 184 | 50.0000 WI | **** | 0.0 | **** | 38.1 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR D | 50.0000 NI | **** | 1 | **** | 179.7 | **** | 44.6 | **** | 8.2 | ||||||||||||
| 76 | PDP | Oil | 78 | 50.0000 WI | **** | 15.6 | **** | 701.0 | **** | 146.7 | **** | 26.9 | |||||||||
| SAND HILLS (SAN ANGELO) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 43.5 | **** | 5.0 | **** | 0.3 | ||||||||||||
| 77 | PDP | Oil | 173 | 50.0000 WI | **** | 2.7 | **** | 64.6 | **** | 5.4 | **** | 0.3 | |||||||||
| SAND HILLS (SAN ANGELO-MCKNIGHT) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 55.7 | **** | 18.9 | **** | 2.0 | ||||||||||||
| 78 | PDP | Oil | 174 | 50.0000 WI | **** | 8.9 | **** | 148.5 | **** | 39.4 | **** | 4.0 | |||||||||
| SAND HILLS (CLEARFORK) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 7 | **** | 182.8 | **** | 73.6 | **** | 8.4 | ||||||||||||
| 79 | PDP | Oil | 165 | 50.0000 WI | **** | 9.7 | **** | 4,411.8 | **** | 1,316.8 | **** | 148.4 | |||||||||
| SAND HILLS (ELLENBURGER) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 753.5 | **** | 47.6 | **** | 7.0 | ||||||||||||
| 80 | PDP | Oil | 80 | 50.0000 WI | **** | 10.4 | **** | 1,023.2 | **** | 177.0 | **** | 25.7 | |||||||||
| SAND HILLS (ORDOVICIAN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL SEC 20 | 50.0000 NI | **** | 0 | **** | 1,909.2 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 81 | PDP | Oil | 43 | 81 | 50.0000 WI | **** | 0.0 | **** | 1,352.7 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 5
Table II - Total Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start<br>Date | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | |||||||||||||||||
| SAND HILLS (ORDOVICIAN) — CRANE COUNTY,<br>TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 1 | **** | 8,358.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 82 | PDP | Oil | 82 | 40.6250 WI | **** | 0.0 | **** | 7,241.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (SAN ANGELO UPPER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 83 | PDP | Gas | 86 | 50.0000 WI | **** | 0.0 | **** | 8,743.9 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 41 | **** | 4,926.4 | **** | 295.2 | **** | 18.7 | 671.9 | 47.7 | 0.0 | 941.6 | 810.3 | ||||||||||||||
| 84 | PDP | Oil | 85 | 50.0000 WI | **** | 5.1 | **** | 22,120.1 | **** | 1,925.8 | **** | 117.6 | 317.5 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (WICHITA ALBANY) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 10 | **** | 343.8 | **** | 56.0 | **** | 3.9 | 139.3 | 10.7 | 0.0 | 210.2 | 184.0 | ||||||||||||||
| 85 | PDP | Gas | 87 | 50.0000 WI | **** | 4.7 | **** | 5,946.3 | **** | 451.2 | **** | 30.2 | 81.7 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 425.3 | **** | 12.3 | **** | 1.4 | 49.8 | 2.6 | 0.0 | 53.6 | 46.1 | ||||||||||||||
| 86 | PDP | Oil | 103 | 50.0000 WI | **** | 5.5 | **** | 2,983.5 | **** | 21.5 | **** | 2.4 | 6.4 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (WOJCIK-MCELROY) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 10 | **** | 8.9 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 87 | PDP | Gas | 114 | 50.0000 WI | **** | 0.0 | **** | 5,083.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 3 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 88 | PDP | Gas | 140 | 50.0000 WI | **** | 0.0 | **** | 1,111.3 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 14 | **** | 2,197.5 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 89 | PDP | Oil | 88 | 50.0000 WI | **** | 0.0 | **** | 4,765.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 90 | PDP | Gas | 95 | 50.0000 WI | **** | 0.0 | **** | 5,669.6 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS EAST (ELLENBURGER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 617.8 | **** | 20.1 | **** | 1.4 | 49.2 | 2.5 | 0.0 | 51.6 | 44.3 | ||||||||||||||
| 91 | PDP | Oil | 89 | 50.0000 WI | **** | 5.2 | **** | 550.7 | **** | 27.6 | **** | 1.8 | 4.9 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS S (HOLT) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 2 | **** | 157.8 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 92 | PDP | Oil | 92 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS WEST (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 3 | **** | 12.6 | **** | 0.6 | **** | 0.0 | 0.4 | 0.3 | 0.0 | 4.8 | 4.6 | ||||||||||||||
| 93 | PDP | Oil | 167 | 50.0000 WI | **** | 1.4 | **** | 806.3 | **** | 96.5 | **** | 1.7 | 4.6 | 0.0 | 0.0 | |||||||||||||
| SIMPSON (ELLENBURGER-TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 2.1 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 94 | PDP | Oil | 190 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL (MCKNIGHT) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 6 | **** | 323.2 | **** | 98.0 | **** | 15.7 | 564.4 | 36.0 | 0.0 | 717.1 | 600.0 | ||||||||||||||
| 95 | PDP | Oil | 179 | 50.0000 WI | **** | 7.0 | **** | 1,008.8 | **** | 441.2 | **** | 69.9 | 188.8 | 0.0 | 0.0 | |||||||||||||
| WADDELL (MCKNIGHT-TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A 2044 | 50.0000 NI | **** | 1 | **** | 7.5 | **** | 5.4 | **** | 0.5 | 18.9 | 1.3 | 0.0 | 25.6 | 23.4 | ||||||||||||||
| 96 | PDP | Oil | 198 | 50.0000 WI | **** | 3.2 | **** | 37.7 | **** | 31.2 | **** | 3.0 | 8.0 | 0.0 | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 6
Table II - Total Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start<br>Date | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | |||||||||||||||||
| WADDELL (MCKN-TUBB-WA-WC) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 3 | **** | 282.4 | **** | 127.9 | **** | 27.5 | 989.5 | 94.0 | 0.0 | 1,811.8 | 1,157.6 | ||||||||||||||
| 97 | PDP | Oil | 189 | 50.0000 WI | **** | 19.2 | **** | 3,458.3 | **** | 1,586.8 | **** | 339.4 | 916.4 | 0.0 | 0.0 | |||||||||||||
| WADDELL (TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 1 | **** | 27.7 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 98 | PDP | Gas | 194 | 50.0000 WI | **** | 0.0 | **** | 369.2 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL (TUBB-S<br>ANGELO-MCKN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 3 | **** | 218.8 | **** | 92.7 | **** | 14.8 | 530.8 | 37.1 | 0.0 | 732.8 | 515.1 | ||||||||||||||
| 99 | PDP | Gas | 177 | 50.0000 WI | **** | 16.2 | **** | 1,446.1 | **** | 561.8 | **** | 88.6 | 239.1 | 0.0 | 0.0 | |||||||||||||
| WADDELL (WICHITA ALBANY) — CRANE COUNTY,<br>TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 95.7 | **** | 26.3 | **** | 5.0 | 181.5 | 12.0 | 0.0 | 239.2 | 189.5 | ||||||||||||||
| 100 | PDP | Oil | 182 | 50.0000 WI | **** | 9.8 | **** | 783.1 | **** | 135.5 | **** | 25.8 | 69.7 | 0.0 | 0.0 | |||||||||||||
| WADDELL (WICHITA<br>ALB-WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 6 | **** | 839.2 | **** | 576.6 | **** | 125.9 | 4,530.2 | 283.9 | 0.0 | 5,667.5 | 3,072.2 | ||||||||||||||
| 101 | PDP | Gas | 181 | 50.0000 WI | **** | 32.2 | **** | 4,152.8 | **** | 2,422.8 | **** | 526.3 | 1,421.1 | 0.0 | 0.0 | |||||||||||||
| WADDELL (WOLFCAMP-TUBB-SA-MCK) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 3 | **** | 243.2 | **** | 65.0 | **** | 13.5 | 484.5 | 37.2 | 0.0 | 728.9 | 587.7 | ||||||||||||||
| 102 | PDP | Oil | 175 | 50.0000 WI | **** | 8.4 | **** | 1,438.0 | **** | 506.4 | **** | 104.3 | 281.7 | 0.0 | 0.0 | |||||||||||||
| WADDELL<br>(WOLF-TUBB-S ANG-MCKN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 36.1 | **** | 6.3 | **** | 0.7 | 26.6 | 3.6 | 0.0 | 68.3 | 55.5 | ||||||||||||||
| 103 | PDP | Gas | 180 | 50.0000 WI | **** | 7.4 | **** | 439.3 | **** | 144.7 | **** | 16.8 | 45.3 | 0.0 | 0.0 | |||||||||||||
| WADDELL (WOLF-WICHITA A-TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 0 | **** | 43.8 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 104 | PDP | Oil | 178 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL RANCH (JUDKINS) — CRANE COUNTY,<br>TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 8.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 105 | PDP | Oil | 191 | 50.0000 WI | **** | 0.0 | **** | 142.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL RANCH (MCKNIGHT) — CRANE COUNTY,<br>TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 47.4 | **** | 20.8 | **** | 2.7 | 98.9 | 5.2 | 0.0 | 105.5 | 85.4 | ||||||||||||||
| 106 | PDP | Oil | 192 | 50.0000 WI | **** | 8.5 | **** | 70.3 | **** | 33.5 | **** | 4.4 | 11.8 | 0.0 | 0.0 | |||||||||||||
| WADDELL RANCH (SAN ANGELO) — CRANE COUNTY,<br>TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 6 | **** | 236.3 | **** | 81.5 | **** | 8.5 | 305.0 | 24.6 | 0.0 | 479.7 | 376.6 | ||||||||||||||
| 107 | PDP | Oil | 176 | 50.0000 WI | **** | 9.2 | **** | 1,749.5 | **** | 722.3 | **** | 73.8 | 199.3 | 0.0 | 0.0 | |||||||||||||
| WADDELL WEST<br>(MCELROY-SAN ANGELO) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN TR A | 0.0000 NI | **** | 1 | **** | 4.2 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 108 | PDP | Oil | 170 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL WEST<br>(TUBB-S ANGELO-MCKN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 22 | **** | 1,572.4 | **** | 609.1 | **** | 93.7 | 3,371.4 | 228.3 | 0.0 | 4,523.4 | 3,290.0 | ||||||||||||||
| 109 | PDP | Oil | 171 | 50.0000 WI | **** | 12.9 | **** | 8,484.9 | **** | 3,357.1 | **** | 511.2 | 1,380.3 | 0.0 | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 7
Table II - Total Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Total Proved Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start<br>Date | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||||||||||||
| Y SOUTH (TUBB) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 0 | **** | 125.2 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||||
| 110 | PDP | Oil | 620 | 101 | 40.6250WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| SAND HILLS (SAN ANDRES) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||||
| 111 | PDNP | Oil | 01/21 | 163 | 50.0000 WI | **** | 0.9 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 319.3 | **** | 319.3 | **** | 89.4 | 3,215.6 | 167.6 | 0.0 | 3,415.3 | 1,372.6 | |||||||||||||||||
| 112 | PDNP | Oil | 02/21 | 17 | 50.0000 WI | **** | 40.8 | **** | 550.8 | **** | 550.8 | **** | 136.1 | 367.4 | 0.0 | 0.0 | |||||||||||||||
| WADDELL (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN EAST RANCH | 37.5000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||||
| 113 | PDNP | Oil | 01/21 | 108 | 37.5000 WI | **** | 0.9 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN ETAL WEST | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||||
| 114 | PDNP | Oil | 01/21 | 109 | 50.0000 WI | **** | 0.9 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 13 | **** | 317.7 | **** | 317.7 | **** | 31.7 | 1,139.0 | 63.0 | 0.0 | 1,274.0 | 824.1 | |||||||||||||||||
| 115 | PUD | Oil | 02/21 | 29 | 50.0000 WI | **** | 9.4 | **** | 752.7 | **** | 752.7 | **** | 73.3 | 198.0 | 0.0 | 0.0 | |||||||||||||||
| SAND HILLS — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 4 | **** | 177.0 | **** | 177.0 | **** | 16.4 | 590.2 | 32.8 | 0.0 | 664.1 | 326.5 | |||||||||||||||||
| 116 | PUD | Oil | 11/21 | 141 | 40.6250 WI | **** | 13.1 | **** | 433.7 | **** | 433.7 | **** | 39.5 | 106.8 | 0.0 | 0.0 | |||||||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 64 | **** | 4,101.7 | **** | 4,101.7 | **** | 463.9 | 16,689.4 | 921.1 | 0.0 | 18,640.9 | 7,089.1 | |||||||||||||||||
| 117 | PUD | Oil | 02/21 | 58 | 50.0000 WI | **** | 16.1 | **** | 9,721.7 | **** | 9,721.7 | **** | 1,063.9 | 2,872.5 | 0.0 | 0.0 | |||||||||||||||
| WADDELL (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 2 | **** | 214.9 | **** | 214.9 | **** | 33.7 | 1,211.3 | 60.6 | 0.0 | 1,241.1 | 577.4 | |||||||||||||||||
| 118 | PUD | Oil | 03/21 | 147 | 37.5000 WI | **** | 27.7 | **** | 214.9 | **** | 214.9 | **** | 33.5 | 90.4 | 0.0 | 0.0 | |||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 2 | **** | 214.9 | **** | 214.9 | **** | 33.7 | 1,211.3 | 60.6 | 0.0 | 1,241.1 | 577.4 | |||||||||||||||||
| 119 | PUD | Oil | 03/21 | 83 | 37.5000 WI | **** | 27.7 | **** | 214.9 | **** | 214.9 | **** | 33.5 | 90.4 | 0.0 | 0.0 | |||||||||||||||
| SAND HILLS — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN ETAL WEST | 50.0000 NI | **** | 3 | **** | 82.2 | **** | 82.2 | **** | 13.2 | 474.7 | 26.5 | 0.0 | 534.8 | 414.7 | |||||||||||||||||
| 120 | PUD | Oil | 02/21 | 162 | 50.0000 WI | **** | 9.5 | **** | 201.3 | **** | 201.3 | **** | 32.0 | 86.5 | 0.0 | 0.0 | |||||||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||||
| WADDELL WN ETAL TR AB | 25.0000 NI | **** | 1 | **** | 66.2 | **** | 66.2 | **** | 4.7 | 170.2 | 9.4 | 0.0 | 189.8 | 94.1 | |||||||||||||||||
| 121 | PUD | Oil | 06/21 | 60 | 25.0000 WI | **** | 15.9 | **** | 153.9 | **** | 153.9 | **** | 10.7 | 29.0 | 0.0 | 0.0 | |||||||||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 1 | **** | 66.2 | **** | 66.2 | **** | 9.1 | 326.4 | 18.0 | 0.0 | 363.8 | 167.6 | |||||||||||||||||
| 122 | PUD | Oil | 10/21 | 70 | 50.0000 WI | **** | 15.9 | **** | 153.9 | **** | 153.9 | **** | 20.5 | 55.4 | 0.0 | 0.0 | |||||||||||||||
| WADDELL WN ETAL TR D | 50.0000 NI | **** | 1 | **** | 66.2 | **** | 66.2 | **** | 9.1 | 326.2 | 18.0 | 0.0 | 363.4 | 168.7 | |||||||||||||||||
| 123 | PUD | Oil | 09/21 | 18 | 50.0000 WI | **** | 15.9 | **** | 153.5 | **** | 153.5 | **** | 20.4 | 55.2 | 0.0 | 0.0 | |||||||||||||||
| GRAND TOTAL | **** | 1744 | **** | 443,406.2 | **** | 11,450.2 | **** | 1,470.7 | 52,916.1 | 4,147.0 | 0.0 | 61,730.9 | 33,852.5 | ||||||||||||||||||
| **** | 1,393,331.6 | **** | 39,740.9 | **** | 4,800.7 | 12,961.8 | 0.0 | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:13 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 8
Table I - PDP
Composite of Reserve Estimates and Economic Forecasts
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net Gas<br>Sales | Avg OilPrice | Avg GasPrice | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||
| **** | 12-2021 | **** | 143.868 | |||||||||
| **** | 12-2022 | **** | 113.647 | |||||||||
| **** | 12-2023 | **** | 90.970 | |||||||||
| **** | 12-2024 | **** | 72.272 | |||||||||
| **** | 12-2025 | **** | 56.041 | |||||||||
| **** | 12-2026 | **** | 44.223 | |||||||||
| **** | 12-2027 | **** | 35.354 | |||||||||
| **** | 12-2028 | **** | 28.886 | |||||||||
| **** | 12-2029 | **** | 24.319 | |||||||||
| **** | 12-2030 | **** | 20.504 | |||||||||
| **** | 12-2031 | **** | 17.272 | |||||||||
| **** | 12-2032 | **** | 14.405 | |||||||||
| **** | 12-2033 | **** | 11.774 | |||||||||
| **** | 12-2034 | **** | 9.867 | |||||||||
| **** | 12-2035 | **** | 8.905 | |||||||||
| **** | S Tot | **** | 692.308 | |||||||||
| **** | After | **** | 73.722 | |||||||||
| **** | Total | **** | 766.030 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End | ProductionTaxes | Ad ValoremTaxes | Wells<br><br><br>Gross Net | OperatingExpense | OtherDeductions | Investment | Future NetCash Flow | CumulativeCash Flow | Cum. Cash Flow<br>Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | 548.0 | .0 | ||||||||
| **** | 12-2022 | **** | 530.0 | .0 | ||||||||
| **** | 12-2023 | **** | 368.0 | .0 | ||||||||
| **** | 12-2024 | **** | 360.0 | .0 | ||||||||
| **** | 12-2025 | **** | 357.0 | .0 | ||||||||
| **** | 12-2026 | **** | 257.0 | .0 | ||||||||
| **** | 12-2027 | **** | 213.0 | .0 | ||||||||
| **** | 12-2028 | **** | 101.0 | .0 | ||||||||
| **** | 12-2029 | **** | 98.0 | .0 | ||||||||
| **** | 12-2030 | **** | 91.0 | .0 | ||||||||
| **** | 12-2031 | **** | 77.0 | .0 | ||||||||
| **** | 12-2032 | **** | 75.0 | .0 | ||||||||
| **** | 12-2033 | **** | 75.0 | .0 | ||||||||
| **** | 12-2034 | **** | 53.0 | .0 | ||||||||
| **** | 12-2035 | **** | 17.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| SEC 12-31-2020 Benchmark Prices | |||
|---|---|---|---|
| WTI Spot | Henry Hub | ||
| Year | Oil $/STB | Gas $/MMBTU | |
| 2021 | 39.57 | 2.00 | |
| Thereafter | Flat | Flat | |
| Cap | 39.57 | 2.00 | |
| Percent | Cum. Disc. | ||
| --- | --- | --- | --- |
| **** | 5.00 | **** | 27,561.6 |
| **** | 10.00 | **** | 23,216.1 |
| **** | 15.00 | **** | 20,271.6 |
| **** | 20.00 | **** | 18,118.8 |
| **** | 25.00 | **** | 16,463.8 |
| **** | 30.00 | **** | 15,145.8 |
12 Months in first year
49.250 Year Life (04/2070)
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | 01/29/2021 16:31:26 |
|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |
| Summary |
Cawley, Gillespie & Associates, Inc.
Table II - PDP
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| Current<br><br><br>Interest | WellCnt<br><br><br>Life | Ultimate<br><br><br>Recovery | Gross<br><br><br>Reserves | Net<br><br><br>Reserves | Oil Revenue<br>Gas Revenue | Prod Tax<br>Adv. Tax | Expenses<br>Investments | Future Net<br>Cash Flow | Cash Flow<br>Disc.@ 10.0 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEASE NAME | Start | ||||||||||||||||||||||
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | |||||||||||
| DUNE (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 79 | **** | 82,877.4 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 1 | PDP | Oil | 1 | 37.5000 WI | **** | 0.0 | **** | 4,921.4 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 20 | **** | 20,686.4 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 2 | PDP | Oil | 2 | 37.5000 WI | **** | 0.0 | **** | 11,024.2 | **** | 0.0 | **** | 0.0 | |||||||||||
| UNIVERSITY-WADDELL (DEVONIAN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 2 | **** | 2,185.4 | **** | 11.5 | **** | 0.4 | ||||||||||||||
| 3 | PDP | Oil | 26 | 37.5000 WI | **** | 3.8 | **** | 5,524.7 | **** | 16.9 | **** | 0.6 | |||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 36 | **** | 43,202.3 | **** | 910.0 | **** | 81.5 | ||||||||||||||
| 4 | PDP | Oil | 27 | 37.5000 WI | **** | 13.4 | **** | 98,259.9 | **** | 1,645.3 | **** | 145.1 | |||||||||||
| WADDELL (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 36 | **** | 74,275.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 5 | PDP | Oil | 30 | 37.5000 WI | **** | 0.0 | **** | 31,962.9 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL WN TR 3 | 0.0000 NI | **** | 36 | **** | 28.2 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 6 | PDP | Oil | 32 | 37.5000 WI | **** | 0.0 | **** | 394.0 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL (GRAYBURG) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 4 | **** | 96.8 | **** | 12.8 | **** | 0.8 | ||||||||||||||
| 7 | PDP | Oil | 149 | 37.5000 WI | **** | 2.1 | **** | 717.2 | **** | 16.6 | **** | 1.0 | |||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||
| WADDELL WN ETAL TR A 2075 | 50.0000 NI | **** | 2 | **** | 448.8 | **** | 326.0 | **** | 82.1 | ||||||||||||||
| 8 | PDP | Oil | 195 | 50.0000 WI | **** | 35.0 | **** | 1,271.8 | **** | 1,007.5 | **** | 252.9 | |||||||||||
| WADDELL WN ETAL TR A 2076 | 50.0000 NI | **** | 1 | **** | 462.1 | **** | 378.8 | **** | 111.1 | ||||||||||||||
| 9 | PDP | Oil | 196 | 50.0000 WI | **** | 49.2 | **** | 1,228.8 | **** | 1,005.0 | **** | 294.2 | |||||||||||
| SAND HILLS (JUDKINS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 146 | **** | 11,635.0 | **** | 166.6 | **** | 4.7 | ||||||||||||||
| 10 | PDP | Oil | 4 | 50.0000 WI | **** | 1.6 | **** | 103,821.4 | **** | 1,791.6 | **** | 46.5 | |||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 146 | **** | 462.3 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 11 | PDP | Gas | 5 | 50.0000 WI | **** | 0.0 | **** | 390,364.1 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL WN ETAL TR A/C | 0.0000 NI | **** | 146 | **** | 3.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 12 | PDP | Oil | 169 | 50.0000 WI | **** | 0.0 | **** | 3.4 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL WN ETAL TR C | 0.0000 NI | **** | 146 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 13 | PDP | Gas | 6 | 50.0000 WI | **** | 0.0 | **** | 5,157.9 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 146 | **** | 43.9 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 14 | PDP | Oil | 7 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 11 | **** | 31.1 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 15 | PDP | Gas | 8 | 40.6250 WI | **** | 0.0 | **** | 22,005.6 | **** | 0.0 | **** | 0.0 | |||||||||||
| SAND HILLS (MCKNIGHT) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||
| WADDELL W N | 12.5000 NI | **** | 1 | **** | 326.9 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 16 | PDP | Oil | 1 | 16 | 0.0000 WI | **** | 0.0 | **** | 189.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 105 | **** | 98,002.0 | **** | 860.3 | **** | 62.2 | ||||||||||||||
| 17 | PDP | Oil | 11 | 50.0000 WI | **** | 6.9 | **** | 344,554.3 | **** | 3,680.5 | **** | 258.2 | |||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 105 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 18 | PDP | Gas | 12 | 50.0000 WI | **** | 0.0 | **** | 16,869.4 | **** | 0.0 | **** | 0.0 | |||||||||||
| WADDELL WN ETAL TR A/C | 50.0000 NI | **** | 5 | **** | 54.1 | **** | 1.9 | **** | 0.0 | ||||||||||||||
| 19 | PDP | Oil | 168 | 50.0000 WI | **** | 0.3 | **** | 65.2 | **** | 2.3 | **** | 0.0 | |||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 2,511.8 | **** | 10.5 | **** | 0.7 | ||||||||||||||
| 20 | PDP | Oil | 13 | 50.0000 WI | **** | 6.8 | **** | 7,170.0 | **** | 2.3 | **** | 0.2 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 1
Table II - PDP (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| Current<br><br><br>Interest | WellCnt<br><br><br>Life | Ultimate<br><br><br>Recovery | Gross<br><br><br>Reserves | Net<br><br><br>Reserves | Oil Revenue<br>Gas Revenue | Prod Tax<br>Adv. Tax | Expenses<br>Investments | Future Net<br>Cash Flow | Cash Flow<br>Disc.@ 10.0 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEASE NAME | Start | |||||||||||||||||||||
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||
| SAND HILLS (MCKNIGHT) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 2 | **** | 9.5 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 21 | PDP | Gas | 14 | 40.6250 WI | **** | 0.0 | **** | 1,736.2 | **** | 0.0 | **** | 0.0 | ||||||||||
| SAND HILLS (TUBB - SAN ANGELO) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR C | 0.0000 NI | **** | 2 | **** | 2.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 22 | PDP | Oil | 188 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| SAND HILLS (TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 89 | **** | 41,267.1 | **** | 643.3 | **** | 35.3 | |||||||||||||
| 23 | PDP | Oil | 19 | 50.0000 WI | **** | 4.8 | **** | 94,021.7 | **** | 3,328.0 | **** | 175.0 | ||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 89 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 24 | PDP | Gas | 20 | 50.0000 WI | **** | 0.0 | **** | 4,368.6 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 1,878.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 25 | PDP | Oil | 21 | 50.0000 WI | **** | 0.0 | **** | 407.3 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 15 | **** | 2,647.1 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 26 | PDP | Oil | 22 | 40.6250 WI | **** | 0.0 | **** | 5,882.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 15 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 27 | PDP | Gas | 23 | 40.6250 WI | **** | 0.0 | **** | 4,145.4 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN ETAL TR J | 40.6250 NI | **** | 1 | **** | 641.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 28 | PDP | Oil | 25 | 40.6250 WI | **** | 0.0 | **** | 296.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK 31 NW (PENN UPPER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 3 | **** | 1,155.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 29 | PDP | Oil | 41 | 37.5000 WI | **** | 0.0 | **** | 1,059.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN TR 4 | 0.0000 NI | **** | 3 | **** | 286.1 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 30 | PDP | Oil | 42 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| DUNE (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 0.0000 NI | **** | 3 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 31 | PDP | Gas | 53 | 37.5000 WI | **** | 0.0 | **** | 896.9 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 873.3 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 32 | PDP | Oil | 54 | 37.5000 WI | **** | 0.0 | **** | 461.8 | **** | 0.0 | **** | 0.0 | ||||||||||
| EDWARDS (GRAYBURG) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 0.0000 NI | **** | 1 | **** | 178.4 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 33 | PDP | Oil | 56 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| RM (CLEARFORK) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR 1 | 0.0000 NI | **** | 1 | **** | 383.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 34 | PDP | Oil | 120 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| UNIVERSITY WADDELL (GRAYBURG) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 5.8 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 35 | PDP | Oil | 185 | 37.5000 WI | **** | 0.0 | **** | 2.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| UNIVERSITY WADDELL (ELLENBURGER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 0.0000 NI | **** | 1 | **** | 7.7 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 36 | PDP | Oil | 166 | 37.5000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| UNIVERSITY WADDELL (PENN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 94.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 37 | PDP | Oil | 97 | 37.5000 WI | **** | 0.0 | **** | 194.3 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 2
Table II - PDP (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| Current | WellCnt | Ultimate | Gross | Net | Oil Revenue | Prod Tax | Expenses | Future Net | Cash Flow | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEASE NAME | Start | Interest | Life | Recovery | Reserves | Reserves | Gas Revenue | Adv. Tax | Investments | Cash Flow | Disc.@ 10.0 | |||||||||||
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||
| UNIVERSITY WADDELL (WADDELL SD) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR 3 | 37.5000 NI | **** | 1 | **** | 362.1 | **** | 115.3 | **** | 20.8 | |||||||||||||
| 38 | PDP | Oil | 102 | 37.5000 WI | **** | 30.2 | **** | 128.3 | **** | 17.3 | **** | 3.1 | ||||||||||
| WADDELL (WICHITA ALBANY) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 8.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 39 | PDP | Oil | 193 | 37.5000 WI | **** | 0.0 | **** | 7.7 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 2 | **** | 195.0 | **** | 18.1 | **** | 1.0 | |||||||||||||
| 40 | PDP | Oil | 98 | 37.5000 WI | **** | 7.2 | **** | 410.9 | **** | 70.4 | **** | 3.9 | ||||||||||
| WN WADDELL DPU 1233 | 18.7500 NI | **** | 1 | **** | 0.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 41 | PDP | Oil | ERDU | 197 | 18.7500 WI | **** | 0.0 | **** | 0.6 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL (GRAYBURG) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 1 | **** | 3.7 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 42 | PDP | Gas | 145 | 37.5000 WI | **** | 0.0 | **** | 33.1 | **** | 0.0 | **** | 0.0 | ||||||||||
| WADDELL (GRAYBURG-QUEEN) —CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 20 | **** | 159.3 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 43 | PDP | Gas | 99 | 37.5000 WI | **** | 0.0 | **** | 29,657.6 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK 27 (MCKEE) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 0.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 44 | PDP | Gas | 39 | 50.0000 WI | **** | 0.0 | **** | 13,624.7 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK B-21 (ELLENBURGER-TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 16.8 | **** | 4.3 | **** | 0.4 | |||||||||||||
| 45 | PDP | Oil | 183 | 50.0000 WI | **** | 4.4 | **** | 256.9 | **** | 78.0 | **** | 6.8 | ||||||||||
| BLOCK B-21 (ELLENBURGER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL | 0.0000 NI | **** | 1 | **** | 874.5 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 46 | PDP | Oil | 43 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK B-21 (TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 330.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 47 | PDP | Oil | 45 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| BLOCK B-27 (CONNELL) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 3.4 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 48 | PDP | Oil | 0357 | 137 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| C-BAR (SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 656.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 49 | PDP | Oil | 46 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| CORDONA LAKE (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 1 | **** | 646.9 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 50 | PDP | Oil | 47 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||
| CORDONA LAKE N (DEVONIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 3 | **** | 1,070.6 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 51 | PDP | Oil | 49 | 40.6250 WI | **** | 0.0 | **** | 3,849.1 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 3
Table II - PDP (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start<br>Date | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||||||||||
| CORDONA LAKE N (TUBB 4500) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 3 | **** | 1,058.6 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 52 | PDP | Oil | 48 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| CORDONA LAKE SW (DEVONIAN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 3 | **** | 590.8 | **** | 12.2 | **** | 0.4 | 15.3 | 0.8 | 0.0 | 15.9 | 14.8 | |||||||||||||||
| 53 | PDP | Oil | 50 | 40.6250 WI | **** | 2.2 | **** | 1,084.2 | **** | 14.5 | **** | 0.5 | 1.3 | 0.0 | 0.0 | ||||||||||||||
| CORDONA LAKE W (DEVONIAN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 8 | **** | 1,784.4 | **** | 8.3 | **** | 0.2 | 6.2 | 0.4 | 0.0 | 8.5 | 8.3 | |||||||||||||||
| 54 | PDP | Oil | 51 | 40.6250 WI | **** | 0.8 | **** | 8,636.3 | **** | 55.4 | **** | 1.0 | 2.8 | 0.0 | 0.0 | ||||||||||||||
| CRAWAR (SAN ANDRES CONS) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||||||||||
| WADDELL W N | 9.2940 NI | **** | 1 | **** | 96.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 55 | PDP | Oil | 1 | 94 | 0.0000 WI | **** | 0.0 | **** | 13.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| DELL (SAN ANDRES) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR E | 50.0000 NI | **** | 1 | **** | 557.1 | **** | 0.6 | **** | 0.0 | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 | |||||||||||||||
| 56 | PDP | Oil | 52 | 50.0000 WI | **** | 0.3 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| LEA (SAN ANDRES) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 1 | **** | 221.5 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 57 | PDP | Oil | 57 | 50.0000 WI | **** | 0.0 | **** | 303.3 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| LEA SOUTH (CLEAR FORK) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 1 | **** | 482.7 | **** | 21.0 | **** | 2.4 | 84.7 | 4.0 | 0.0 | 82.4 | 65.1 | |||||||||||||||
| 58 | PDP | Oil | 59 | 50.0000 WI | **** | 8.5 | **** | 1,356.4 | **** | 5.6 | **** | 0.6 | 1.7 | 0.0 | 0.0 | ||||||||||||||
| LEA SOUTH (SAN ANGELO) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 4 | **** | 665.0 | **** | 5.2 | **** | 0.1 | 2.4 | 0.1 | 0.0 | 2.3 | 2.3 | |||||||||||||||
| 59 | PDP | Oil | 61 | 50.0000 WI | **** | 0.8 | **** | 650.9 | **** | 2.6 | **** | 0.0 | 0.1 | 0.0 | 0.0 | ||||||||||||||
| LEA SOUTH (TUBB) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR H | 0.0000 NI | **** | 4 | **** | 133.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 60 | PDP | Oil | 62 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| MCKEE (CLEAR FORK LOWER) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 4 | **** | 218.3 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 61 | PDP | Oil | 184 | 63 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| MCKEE (CLEAR FORK) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 3 | **** | 2.6 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 62 | PDP | Gas | 124 | 40.6250 WI | **** | 0.0 | **** | 2,346.6 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| MCKEE (WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 1 | **** | 58.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 63 | PDP | Oil | 64 | 40.6250 WI | **** | 0.0 | **** | 1,703.5 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| RUNNING W (JUDKINS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
| 64 | PDP | Gas | 133 | 50.0000 WI | **** | 0.0 | **** | 193.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 4
Table II - PDP (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | |||||||||
| RUNNING W (JUDKINS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 6.1 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 65 | PDP | Oil | 160 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W (TUBB) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 9.2 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 66 | PDP | Gas | 67 | 50.0000 WI | **** | 0.0 | **** | 352.1 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 5 | **** | 1,307.4 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 67 | PDP | Oil | 69 | 50.0000 WI | **** | 0.0 | **** | 10,516.7 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W (WADDELL) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 13 | **** | 15,017.4 | **** | 21.9 | **** | 0.3 | ||||||||||||
| 68 | PDP | Oil | 73 | 50.0000 WI | **** | 1.4 | **** | 46,580.8 | **** | 152.1 | **** | 1.7 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 69 | PDP | Gas | 125 | 50.0000 WI | **** | 0.0 | **** | 101.5 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 70 | PDP | Gas | 126 | 50.0000 WI | **** | 0.0 | **** | 94.8 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 71 | PDP | Gas | 138 | 50.0000 WI | **** | 0.0 | **** | 1.5 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W (WICHITA ALBANY) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 104.8 | **** | 11.6 | **** | 1.9 | ||||||||||||
| 72 | PDP | Gas | 75 | 50.0000 WI | **** | 8.1 | **** | 3,166.2 | **** | 146.5 | **** | 23.3 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 72.2 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 73 | PDP | Oil | 77 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 74 | PDP | Gas | 132 | 50.0000 WI | **** | 0.0 | **** | 391.3 | **** | 0.0 | **** | 0.0 | |||||||||
| RUNNING W NORTH (WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 15.5 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 75 | PDP | Oil | 184 | 50.0000 WI | **** | 0.0 | **** | 38.1 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WN ETAL TR D | 50.0000 NI | **** | 1 | **** | 179.7 | **** | 44.6 | **** | 8.2 | ||||||||||||
| 76 | PDP | Oil | 78 | 50.0000 WI | **** | 15.6 | **** | 701.0 | **** | 146.7 | **** | 26.9 | |||||||||
| SAND HILLS (SAN ANGELO-MCKNIGHT) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 55.7 | **** | 18.9 | **** | 2.0 | ||||||||||||
| 77 | PDP | Oil | 174 | 50.0000 WI | **** | 8.9 | **** | 148.5 | **** | 39.4 | **** | 4.0 | |||||||||
| SAND HILLS (SAN ANGELO) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 43.5 | **** | 5.0 | **** | 0.3 | ||||||||||||
| 78 | PDP | Oil | 173 | 50.0000 WI | **** | 2.7 | **** | 64.6 | **** | 5.4 | **** | 0.3 | |||||||||
| SAND HILLS (CLEARFORK) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 7 | **** | 182.8 | **** | 73.6 | **** | 8.4 | ||||||||||||
| 79 | PDP | Oil | 165 | 50.0000 WI | **** | 9.7 | **** | 4,411.8 | **** | 1,316.8 | **** | 148.4 | |||||||||
| SAND HILLS (ELLENBURGER) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 753.5 | **** | 47.6 | **** | 7.0 | ||||||||||||
| 80 | PDP | Oil | 80 | 50.0000 WI | **** | 10.4 | **** | 1,023.2 | **** | 177.0 | **** | 25.7 | |||||||||
| SAND HILLS (ORDOVICIAN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL SEC 20 | 50.0000 NI | **** | 0 | **** | 1,909.2 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 81 | PDP | Oil 43 | 81 | 50.0000 WI | **** | 0.0 | **** | 1,352.7 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 5
Table II - PDP (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start<br>Date | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | |||||||||||||||||
| SAND HILLS (ORDOVICIAN) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 1 | **** | 8,358.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 82 | PDP | Oil | 82 | 40.6250 WI | **** | 0.0 | **** | 7,241.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (SAN ANGELO UPPER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 1 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 83 | PDP | Gas | 86 | 50.0000 WI | **** | 0.0 | **** | 8,743.9 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 41 | **** | 4,926.4 | **** | 295.2 | **** | 18.7 | 671.9 | 47.7 | 0.0 | 941.6 | 810.3 | ||||||||||||||
| 84 | PDP | Oil | 85 | 50.0000 WI | **** | 5.1 | **** | 22,120.1 | **** | 1,925.8 | **** | 117.6 | 317.5 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (WICHITA ALBANY) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 10 | **** | 343.8 | **** | 56.0 | **** | 3.9 | 139.3 | 10.7 | 0.0 | 210.2 | 184.0 | ||||||||||||||
| 85 | PDP | Gas | 87 | 50.0000 WI | **** | 4.7 | **** | 5,946.3 | **** | 451.2 | **** | 30.2 | 81.7 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 425.3 | **** | 12.3 | **** | 1.4 | 49.8 | 2.6 | 0.0 | 53.6 | 46.1 | ||||||||||||||
| 86 | PDP | Oil | 103 | 50.0000 WI | **** | 5.5 | **** | 2,983.5 | **** | 21.5 | **** | 2.4 | 6.4 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (WOJCIK-MCELROY) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 10 | **** | 8.9 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 87 | PDP | Gas | 114 | 50.0000 WI | **** | 0.0 | **** | 5,083.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 3 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 88 | PDP | Gas | 140 | 50.0000 WI | **** | 0.0 | **** | 1,111.3 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 14 | **** | 2,197.5 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 89 | PDP | Oil | 88 | 50.0000 WI | **** | 0.0 | **** | 4,765.4 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 90 | PDP | Gas | 95 | 50.0000 WI | **** | 0.0 | **** | 5,669.6 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS EAST (ELLENBURGER) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 617.8 | **** | 20.1 | **** | 1.4 | 49.2 | 2.5 | 0.0 | 51.6 | 44.3 | ||||||||||||||
| 91 | PDP | Oil | 89 | 50.0000 WI | **** | 5.2 | **** | 550.7 | **** | 27.6 | **** | 1.8 | 4.9 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS S (HOLT) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR I | 0.0000 NI | **** | 2 | **** | 157.8 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 92 | PDP | Oil | 92 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| SAND HILLS WEST (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 3 | **** | 12.6 | **** | 0.6 | **** | 0.0 | 0.4 | 0.3 | 0.0 | 4.8 | 4.6 | ||||||||||||||
| 93 | PDP | Oil | 167 | 50.0000 WI | **** | 1.4 | **** | 806.3 | **** | 96.5 | **** | 1.7 | 4.6 | 0.0 | 0.0 | |||||||||||||
| SIMPSON (ELLENBURGER-TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 2.1 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 94 | PDP | Oil | 190 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL (WOLF-WICHITA A-TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 0.0000 NI | **** | 0 | **** | 43.8 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
| 95 | PDP | Oil | 178 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||
| WADDELL (MCKNIGHT) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 6 | **** | 323.2 | **** | 98.0 | **** | 15.7 | 564.4 | 36.0 | 0.0 | 717.1 | 600.0 | ||||||||||||||
| 96 | PDP | Oil | 179 | 50.0000 WI | **** | 7.0 | **** | 1,008.8 | **** | 441.2 | **** | 69.9 | 188.8 | 0.0 | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 6
Table II - PDP (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | |||||||||
| WADDELL (WOLF-TUBB-S ANG-MCKN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 36.1 | **** | 6.3 | **** | 0.7 | ||||||||||||
| 97 | PDP | Gas | 180 | 50.0000 WI | **** | 7.4 | **** | 439.3 | **** | 144.7 | **** | 16.8 | |||||||||
| WADDELL (WICHITA<br>ALB-WOLFCAMP) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 6 | **** | 839.2 | **** | 576.6 | **** | 125.9 | ||||||||||||
| 98 | PDP | Gas | 181 | 50.0000 WI | **** | 32.2 | **** | 4,152.8 | **** | 2,422.8 | **** | 526.3 | |||||||||
| WADDELL (WICHITA ALBANY) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 1 | **** | 95.7 | **** | 26.3 | **** | 5.0 | ||||||||||||
| 99 | PDP | Oil | 182 | 50.0000 WI | **** | 9.8 | **** | 783.1 | **** | 135.5 | **** | 25.8 | |||||||||
| WADDELL (MCKN-TUBB-WA-WC) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 3 | **** | 282.4 | **** | 127.9 | **** | 27.5 | ||||||||||||
| 100 | PDP | Oil | 189 | 50.0000 WI | **** | 19.2 | **** | 3,458.3 | **** | 1,586.8 | **** | 339.4 | |||||||||
| WADDELL (MCKNIGHT-TUBB) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A 2044 | 50.0000 NI | **** | 1 | **** | 7.5 | **** | 5.4 | **** | 0.5 | ||||||||||||
| 101 | PDP | Oil | 198 | 50.0000 WI | **** | 3.2 | **** | 37.7 | **** | 31.2 | **** | 3.0 | |||||||||
| WADDELL (WOLFCAMP-TUBB-SA-MCK) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 3 | **** | 243.2 | **** | 65.0 | **** | 13.5 | ||||||||||||
| 102 | PDP | Oil | 175 | 50.0000 WI | **** | 8.4 | **** | 1,438.0 | **** | 506.4 | **** | 104.3 | |||||||||
| WADDELL (TUBB-S<br>ANGELO-MCKN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 3 | **** | 218.8 | **** | 92.7 | **** | 14.8 | ||||||||||||
| 103 | PDP | Gas | 177 | 50.0000 WI | **** | 16.2 | **** | 1,446.1 | **** | 561.8 | **** | 88.6 | |||||||||
| WADDELL (TUBB) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 1 | **** | 27.7 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 104 | PDP | Gas | 194 | 50.0000 WI | **** | 0.0 | **** | 369.2 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL RANCH (JUDKINS) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 2 | **** | 8.4 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 105 | PDP | Oil | 191 | 50.0000 WI | **** | 0.0 | **** | 142.4 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL RANCH (SAN ANGELO) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 6 | **** | 236.3 | **** | 81.5 | **** | 8.5 | ||||||||||||
| 106 | PDP | Oil | 176 | 50.0000 WI | **** | 9.2 | **** | 1,749.5 | **** | 722.3 | **** | 73.8 | |||||||||
| WADDELL RANCH (MCKNIGHT) — CRANE COUNTY,<br>TEXAS | |||||||||||||||||||||
| WADDELL WN ETAL TR C | 50.0000 NI | **** | 1 | **** | 47.4 | **** | 20.8 | **** | 2.7 | ||||||||||||
| 107 | PDP | Oil | 192 | 50.0000 WI | **** | 8.5 | **** | 70.3 | **** | 33.5 | **** | 4.4 | |||||||||
| WADDELL WEST<br>(MCELROY-SAN ANGELO) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN TR A | 0.0000 NI | **** | 1 | **** | 4.2 | **** | 0.0 | **** | 0.0 | ||||||||||||
| 108 | PDP | Oil | 170 | 50.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| WADDELL WEST<br>(TUBB-S ANGELO-MCKN) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL WN TR A | 50.0000 NI | **** | 22 | **** | 1,572.4 | **** | 609.1 | **** | 93.7 | ||||||||||||
| 109 | PDP | Oil | 171 | 50.0000 WI | **** | 12.9 | **** | 8,484.9 | **** | 3,357.1 | **** | 511.2 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 7
Table II - PDP (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||
| Y SOUTH (TUBB) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 0 | **** | 125.2 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 110 | PDP | Oil | 620 | 101 | 40.6250 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| GRAND TOTAL | **** | 1653 | **** | 437,779.8 | **** | 5,823.8 | **** | 766.0 | ||||||||||||||
| **** | 1,380,780.1 | **** | 27,189.5 | **** | 3,337.2 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 8
Rate-Time History-Forecast Curves
And
TabularReserves and Economics
By Property
Cawley, Gillespie & Associates, Inc.
Petroleum Consultants
Table 1
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
DUNE (GRAYBURG SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDCB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 1 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 1 |
Cawley, Gillespie & Associates, Inc.
Table 2
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
DUNE (GRAYBURG SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: CGA103002 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDEB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 2 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 2 |
Cawley, Gillespie & Associates, Inc.
Table 3
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
UNIVERSITY-WADDELL (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (6) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Avg OilPrice/BBL | OilRevenueM | GasRevenueM | TotalRevenue M | ||||
| **** | 12-2021 | **** | 0.207 | ||||||||
| **** | 12-2022 | **** | 0.139 | ||||||||
| **** | 12-2023 | **** | 0.076 | ||||||||
| **** | 12-2024 | **** | 0.019 | ||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||
| **** | S Tot | **** | 0.441 | ||||||||
| **** | After | **** | 0.000 | ||||||||
| **** | Total | **** | 0.441 | ||||||||
| **** | Cum | ||||||||||
| **** | Ult | ||||||||||
| (11) | (12) | (13) | (14) (15) | (17) | (19) | (20) | (21) | ||||
| End<br><br><br>Mo-Year | ProductionTaxes<br>M | Ad ValoremTaxes<br>M | Wells | OtherDeductions<br>M | Future NetCash Flow<br>M | CumulativeCash Flow | Cum.Cash Flow<br>Disc.@ 10.0% M | ||||
| Net | |||||||||||
| M | M | ||||||||||
| **** | 12-2021 | **** | 2.0 | .0 | |||||||
| **** | 12-2022 | **** | 2.0 | .0 | |||||||
| **** | 12-2023 | **** | 2.0 | .0 | |||||||
| **** | 12-2024 | **** | 2.0 | .0 | |||||||
| **** | 12-2025 | **** | 0.0 | .0 | |||||||
| **** | 12-2026 | **** | 0.0 | .0 | |||||||
| **** | 12-2027 | **** | 0.0 | .0 | |||||||
| **** | 12-2028 | **** | 0.0 | .0 | |||||||
| **** | 12-2029 | **** | 0.0 | .0 | |||||||
| **** | 12-2030 | **** | 0.0 | .0 | |||||||
| **** | 12-2031 | **** | 0.0 | .0 | |||||||
| **** | 12-2032 | **** | 0.0 | .0 | |||||||
| **** | 12-2033 | **** | 0.0 | .0 | |||||||
| **** | 12-2034 | **** | 0.0 | .0 | |||||||
| **** | 12-2035 | **** | 0.0 | .0 | |||||||
| **** | S Tot | ||||||||||
| **** | After | ||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 21.019 | |||||||||||||||||
| Oil Rate | **** | 289. | **** | 215. | bbls/mo | **** | 7.5 | % | **** | 0.00 | **** | 7.5 | % | **** | 3,952. | **** | 3,952. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 19.893 |
| Gas Rate | **** | 422. | **** | 315. | Mcf/mo | **** | 7.5 | % | **** | 0.00 | **** | 7.5 | % | **** | Revenue | **** | 15.00 | **** | 18.903 | ||||||||||
| GOR | **** | 1,460. | **** | 1,460. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 18.025 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 17.242 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 16.539 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: CGA183406 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDOC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 3.833 Year Life (10/2024) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 26 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 3 |
Cawley, Gillespie & Associates, Inc.
Table 4
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
UNIVERSITY-WADDELL (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 13.197 | |||||||||
| **** | 12-2022 | **** | 11.793 | |||||||||
| **** | 12-2023 | **** | 10.467 | |||||||||
| **** | 12-2024 | **** | 9.214 | |||||||||
| **** | 12-2025 | **** | 8.030 | |||||||||
| **** | 12-2026 | **** | 6.911 | |||||||||
| **** | 12-2027 | **** | 5.853 | |||||||||
| **** | 12-2028 | **** | 4.853 | |||||||||
| **** | 12-2029 | **** | 3.909 | |||||||||
| **** | 12-2030 | **** | 3.016 | |||||||||
| **** | 12-2031 | **** | 2.173 | |||||||||
| **** | 12-2032 | **** | 1.376 | |||||||||
| **** | 12-2033 | **** | 0.623 | |||||||||
| **** | 12-2034 | **** | 0.047 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 81.461 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 81.461 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad <br>ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 36.0 | .0 | ||||||||
| **** | 12-2022 | **** | 36.0 | .0 | ||||||||
| **** | 12-2023 | **** | 36.0 | .0 | ||||||||
| **** | 12-2024 | **** | 36.0 | .0 | ||||||||
| **** | 12-2025 | **** | 36.0 | .0 | ||||||||
| **** | 12-2026 | **** | 36.0 | .0 | ||||||||
| **** | 12-2027 | **** | 36.0 | .0 | ||||||||
| **** | 12-2028 | **** | 36.0 | .0 | ||||||||
| **** | 12-2029 | **** | 36.0 | .0 | ||||||||
| **** | 12-2030 | **** | 36.0 | .0 | ||||||||
| **** | 12-2031 | **** | 36.0 | .0 | ||||||||
| **** | 12-2032 | **** | 36.0 | .0 | ||||||||
| **** | 12-2033 | **** | 36.0 | .0 | ||||||||
| **** | 12-2034 | **** | 36.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 3,484.431 | |||||||||||||||||
| Oil Rate | **** | 8,047. | **** | 3,785. | bbls/mo | **** | 5.5 | % | **** | 0.00 | **** | 5.5 | % | **** | 3,952. | **** | 3,952. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 2,955.816 |
| Gas Rate | **** | 14,549. | **** | 6,843. | Mcf/mo | **** | 5.5 | % | **** | 0.00 | **** | 5.5 | % | **** | Revenue | **** | 15.00 | **** | 2,564.282 | ||||||||||
| GOR | **** | 1,800. | **** | 1,800. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 2,265.711 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 2,032.203 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 1,845.526 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: CGA183402 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDDB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 13.417 Year Life (06/2034) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 27 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 4 |
Cawley, Gillespie & Associates, Inc.
Table 5
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
WADDELL (GRAYBURG SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross Oil<br>Production<br>MBBLS | Gross Gas<br>Production<br>MMCF | Net Oil<br>Production<br>MBBLS | Net Gas<br>Sales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 74,275.0 | **** | 31,962.9 | |||||||||
| **** | Ult | **** | 74,275.0 | **** | 31,962.9 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) | (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | .Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: CGA184501 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQE3B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 30 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 5 |
Cawley, Gillespie & Associates, Inc.
Table 6
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
WADDELL (GRAYBURG SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 28.2 | **** | 394.0 | |||||||||
| **** | Ult | **** | 28.2 | **** | 394.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: CGA184502 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQE6B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 32 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 6 |
Cawley, Gillespie & Associates, Inc.
Table 7
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
WADDELL (GRAYBURG) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 6.9 | **** | 9.0 | **** | 0.602 | **** | 0.772 | |||||
| **** | 12-2022 | **** | 5.4 | **** | 7.1 | **** | 0.196 | **** | 0.244 | |||||
| **** | 12-2023 | **** | 0.4 | **** | 0.5 | **** | 0.002 | **** | 0.001 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 12.8 | **** | 16.6 | **** | 0.800 | **** | 1.017 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 12.8 | **** | 16.6 | **** | 0.800 | **** | 1.017 | |||||
| **** | Cum | **** | 84.1 | **** | 700.6 | |||||||||
| **** | Ult | **** | 96.8 | **** | 717.2 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 38.801 | |||||||||||||||||
| Oil Rate | **** | 647. | **** | 398. | bbls/mo | **** | 23.1 | % | **** | 0.00 | **** | 20.0 | % | **** | 3,561. | **** | 3,561. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 37.652 |
| Gas Rate | **** | 844. | **** | 519. | Mcf/mo | **** | 23.1 | % | **** | 0.00 | **** | 20.0 | % | **** | Revenue | **** | 15.00 | **** | 36.602 | ||||||||||
| GOR | **** | 1,300. | **** | 1,300. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 35.639 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 34.753 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 33.934 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: 201,000, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQHSC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 2.083 Year Life (01/2023) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 149 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 7 |
Cawley, Gillespie & Associates, Inc.
Table 8
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A 2075
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 10.384 | |||||||||
| **** | 12-2022 | **** | 8.423 | |||||||||
| **** | 12-2023 | **** | 7.039 | |||||||||
| **** | 12-2024 | **** | 6.009 | |||||||||
| **** | 12-2025 | **** | 5.212 | |||||||||
| **** | 12-2026 | **** | 4.578 | |||||||||
| **** | 12-2027 | **** | 4.061 | |||||||||
| **** | 12-2028 | **** | 3.632 | |||||||||
| **** | 12-2029 | **** | 3.269 | |||||||||
| **** | 12-2030 | **** | 2.959 | |||||||||
| **** | 12-2031 | **** | 2.691 | |||||||||
| **** | 12-2032 | **** | 2.456 | |||||||||
| **** | 12-2033 | **** | 2.250 | |||||||||
| **** | 12-2034 | **** | 2.066 | |||||||||
| **** | 12-2035 | **** | 1.902 | |||||||||
| **** | S Tot | **** | 66.930 | |||||||||
| **** | After | **** | 15.183 | |||||||||
| **** | Total | **** | 82.114 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| EndMo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross NetCount | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 2.0 | .0 | ||||||||
| **** | 12-2022 | **** | 2.0 | .0 | ||||||||
| **** | 12-2023 | **** | 2.0 | .0 | ||||||||
| **** | 12-2024 | **** | 2.0 | .0 | ||||||||
| **** | 12-2025 | **** | 2.0 | .0 | ||||||||
| **** | 12-2026 | **** | 2.0 | .0 | ||||||||
| **** | 12-2027 | **** | 2.0 | .0 | ||||||||
| **** | 12-2028 | **** | 2.0 | .0 | ||||||||
| **** | 12-2029 | **** | 2.0 | .0 | ||||||||
| **** | 12-2030 | **** | 2.0 | .0 | ||||||||
| **** | 12-2031 | **** | 2.0 | .0 | ||||||||
| **** | 12-2032 | **** | 2.0 | .0 | ||||||||
| **** | 12-2033 | **** | 2.0 | .0 | ||||||||
| **** | 12-2034 | **** | 2.0 | .0 | ||||||||
| **** | 12-2035 | **** | 2.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 3,279.733 | |||||||||||||||||
| Oil Rate | 2,893. | 235. | bbls/mo | 20.2 | % | 0.00 | 5.0 | % | 4,799. | 4,799. | $ | /w/mo | Expense | 50.0000 | 50.0000 | 10.00 | 2,566.334 | ||||||||||||
| Gas Rate | 8,939. | 728. | Mcf/mo | 20.2 | % | 0.00 | 5.0 | % | Revenue | 15.00 | 2,131.406 | ||||||||||||||||||
| GOR | 3,090. | 3,090. | scf/bbl | Oil | 50.0000 | 50.0000 | 20.00 | 1,839.301 | |||||||||||||||||||||
| Gas Shrinkage | 0.0 | 0.0 | % | Gas | 50.0000 | 50.0000 | 25.00 | 1,629.139 | |||||||||||||||||||||
| Oil Severance | 4.6 | 4.6 | % | 30.00 | 1,470.196 | ||||||||||||||||||||||||
| Gas Severance | 5.3 | 5.3 | % | ||||||||||||||||||||||||||
| Ad Valorem | 3.4 | % | |||||||||||||||||||||||||||
| API: 0000000000 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: UBKN7N281D | 12 Months in first year | ||||||||||||||||||||||||||||
| 35.000 Year Life (01/2056) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 195 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 8 |
Cawley, Gillespie & Associates, Inc.
Table 9
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A 2076
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | Total RevenueM | |||
| **** | 12-2021 | **** | 11.660 | |||||||||
| **** | 12-2022 | **** | 9.565 | |||||||||
| **** | 12-2023 | **** | 8.087 | |||||||||
| **** | 12-2024 | **** | 6.986 | |||||||||
| **** | 12-2025 | **** | 6.135 | |||||||||
| **** | 12-2026 | **** | 5.458 | |||||||||
| **** | 12-2027 | **** | 4.905 | |||||||||
| **** | 12-2028 | **** | 4.447 | |||||||||
| **** | 12-2029 | **** | 4.059 | |||||||||
| **** | 12-2030 | **** | 3.728 | |||||||||
| **** | 12-2031 | **** | 3.441 | |||||||||
| **** | 12-2032 | **** | 3.191 | |||||||||
| **** | 12-2033 | **** | 2.970 | |||||||||
| **** | 12-2034 | **** | 2.774 | |||||||||
| **** | 12-2035 | **** | 2.599 | |||||||||
| **** | S Tot | **** | 80.005 | |||||||||
| **** | After | **** | 31.103 | |||||||||
| **** | Total | **** | 111.108 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 1.0 | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | .0 | ||||||||
| **** | 12-2030 | **** | 1.0 | .0 | ||||||||
| **** | 12-2031 | **** | 1.0 | .0 | ||||||||
| **** | 12-2032 | **** | 1.0 | .0 | ||||||||
| **** | 12-2033 | **** | 1.0 | .0 | ||||||||
| **** | 12-2034 | **** | 1.0 | .0 | ||||||||
| **** | 12-2035 | **** | 1.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 3,961.841 | |||||||||||||||||
| Oil Rate | 3,091. | 121. | bbls/mo | 20.2 | % | 0.00 | 5.0 | % | 4,799. | 4,799. | $ | /w/mo | Expense | 50.0000 | 50.0000 | 10.00 | 2,988.707 | ||||||||||||
| Gas Rate | 8,200. | 321. | Mcf/mo | 20.2 | % | 0.00 | 5.0 | % | Revenue | 15.00 | 2,438.617 | ||||||||||||||||||
| GOR | 2,650. | 2,650. | scf/bbl | Oil | 50.0000 | 50.0000 | 20.00 | 2,083.540 | |||||||||||||||||||||
| Gas Shrinkage | 0.0 | 0.0 | % | Gas | 50.0000 | 50.0000 | 25.00 | 1,833.840 | |||||||||||||||||||||
| Oil Severance | 4.6 | 4.6 | % | 30.00 | 1,647.701 | ||||||||||||||||||||||||
| Gas Severance | 5.3 | 5.3 | % | ||||||||||||||||||||||||||
| Ad Valorem | 3.4 | % | |||||||||||||||||||||||||||
| API: 0000000000 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: UBKN7PGB2D | 12 Months in first year | ||||||||||||||||||||||||||||
| 49.250 Year Life (04/2070) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 196 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 9 |
Cawley, Gillespie & Associates, Inc.
Table10
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 4.088 | ||||||||||
| **** | 12-2022 | **** | 0.644 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 4.732 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 4.732 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 146.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 146.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 365.750 | |||||||||||||||||
| Oil Rate | **** | 9,441. | **** | 8,128. | bbls/mo | **** | 9.5 | % | **** | 0.00 | **** | 9.5 | % | **** | 3,309. | **** | 3,309. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 357.227 |
| Gas Rate | **** | 101,518. | **** | 87,401. | Mcf/mo | **** | 9.5 | % | **** | 0.00 | **** | 9.5 | % | **** | Revenue | **** | 15.00 | **** | 349.362 | ||||||||||
| GOR | **** | 10,700. | **** | 10,700. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 342.076 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 335.305 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 328.992 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: CGA175301 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDHC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 1.583 Year Life (07/2022) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 4 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 10 |
Cawley, Gillespie & Associates, Inc.
Table11
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | Total RevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: CGA17530 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDIC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 5 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 11 |
Cawley, Gillespie & Associates, Inc.
Table 12
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A/C
SAND HILLS (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum. Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | 0. | 0. | Mcf/mo | 0.0 | % | 0.00 | 0.0 | % | Revenue | 15.00 | 0.000 | ||||||||||||||||||
| GOR | 0. | 0. | scf/bbl | Oil | 0.0000 | 0.0000 | 20.00 | 0.000 | |||||||||||||||||||||
| Gas Shrinkage | 0.0 | 0.0 | % | Gas | 0.0000 | 0.0000 | 25.00 | 0.000 | |||||||||||||||||||||
| Oil Severance | 0.0 | 0.0 | % | 30.00 | 0.000 | ||||||||||||||||||||||||
| Gas Severance | 0.0 | 0.0 | % | ||||||||||||||||||||||||||
| Ad Valorem | 0.0 | % | |||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: NEW169 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 169 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 12 |
Cawley, Gillespie & Associates, Inc.
Table 13
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR C
SAND HILLS (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum. Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | 0. | 0. | bbls/mo | 0.0 | % | 0.00 | 0.0 | % | 0. | 0. | $ | /w/mo | Expense | 50.0000 | 50.0000 | 10.00 | 0.000 | ||||||||||||
| Oil Rate | 0. | 0. | Mcf/mo | 0.0 | % | 0.00 | 0.0 | % | Revenue | 15.00 | 0.000 | ||||||||||||||||||
| Yield | **** | 0.0 | **** | 0.0 | scf/bbl | Oil | 0.0000 | 0.0000 | 20.00 | 0.000 | |||||||||||||||||||
| Gas Shrinkage | 0.0 | 0.0 | % | Gas | 0.0000 | 0.0000 | 25.00 | 0.000 | |||||||||||||||||||||
| Oil Severance | 0.0 | 0.0 | % | 30.00 | 0.000 | ||||||||||||||||||||||||
| Gas Severance | 0.0 | 0.0 | % | ||||||||||||||||||||||||||
| Ad Valorem | 0.0 | % | |||||||||||||||||||||||||||
| API: 0000000000 CODE: CGA17530 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDKC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 6 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 13 |
Cawley, Gillespie & Associates, Inc.
Table 14
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
SAND HILLS (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: CGA175302 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDLC00 | 12Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 7 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 14 |
Cawley, Gillespie & Associates, Inc.
Table 15
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
SAND HILLS (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: CGA17530 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDNC00 | 12Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 8 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 15 |
Cawley, Gillespie & Associates, Inc.
Table 16
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
ROBERTSON RESOURCES INCO — WADDELL W N 1
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 12.5000 | **** | 12.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 12.5000 | **** | 12.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 42103056110000 CODE: 142, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQD0C00 | 12Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 16 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 16 |
Cawley, Gillespie & Associates, Inc.
Table 17
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net Oil<br><br><br>Production | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | TotalRevenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 148.3 | **** | 634.4 | **** | 17.626 | **** | 74.265 | |||||
| **** | 12-2022 | **** | 139.4 | **** | 596.3 | **** | 14.410 | **** | 60.503 | |||||
| **** | 12-2023 | **** | 131.0 | **** | 560.5 | **** | 11.386 | **** | 47.568 | |||||
| **** | 12-2024 | **** | 123.1 | **** | 526.8 | **** | 8.544 | **** | 35.411 | |||||
| **** | 12-2025 | **** | 115.8 | **** | 495.2 | **** | 5.872 | **** | 23.984 | |||||
| **** | 12-2026 | **** | 108.8 | **** | 465.4 | **** | 3.361 | **** | 13.243 | |||||
| **** | 12-2027 | **** | 94.0 | **** | 402.0 | **** | 1.004 | **** | 3.256 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 860.3 | **** | 3,680.5 | **** | 62.202 | **** | 258.229 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 860.3 | **** | 3,680.5 | **** | 62.202 | **** | 258.229 | |||||
| **** | Cum | **** | 97,141.6 | **** | 340,873.8 | |||||||||
| **** | Ult | **** | 98,002.0 | **** | 344,554.3 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | ProductionTaxes | Ad ValoremTaxes | Wells | OperatingExpense | OtherDeductions | Investment | Future NetCash Flow | CumulativeFlow Cash | Cum.Cash FlowDisc.@ 10.0% | |||
| Net | ||||||||||||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | 105.0 | .0 | ||||||||
| **** | 12-2022 | **** | 105.0 | .0 | ||||||||
| **** | 12-2023 | **** | 105.0 | .0 | ||||||||
| **** | 12-2024 | **** | 105.0 | .0 | ||||||||
| **** | 12-2025 | **** | 105.0 | .0 | ||||||||
| **** | 12-2026 | **** | 105.0 | .0 | ||||||||
| **** | 12-2027 | **** | 105.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 3,354.560 | |||||||||||||||||
| Oil Rate | **** | 12,708. | **** | 8,326. | bbls/mo | **** | 6.0 | % | **** | 0.00 | **** | 6.0 | % | **** | 3,452. | **** | 3,452. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 3,050.649 |
| Gas Rate | **** | 54,376. | **** | 35,613. | Mcf/mo | **** | 6.0 | % | **** | 0.00 | **** | 6.0 | % | **** | Revenue | **** | 15.00 | **** | 2,799.106 | ||||||||||
| GOR | **** | 4,270. | **** | 4,270. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 2,588.230 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 2,409.409 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 2,256.198 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: CGA173001 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDQC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 6.917 Year Life (12/2027) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 11 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 17 |
Cawley, Gillespie & Associates, Inc.
Table 18
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | ||||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 0.0 | **** | 16,869.4 | |||||||||
| **** | Ult | **** | 0.0 | **** | 16,869.4 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow<br>Disc.@ 10.0% | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | ||||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: CGA17300 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDSC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 12 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 18 |
Cawley, Gillespie & Associates, Inc.
Table 19
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A/C
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.007 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.007 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.007 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| EndMo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum. Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 5.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.344 | |||||||||||||||||
| Oil Rate | 490. | 479. | bbls/mo | 8.5 | % | 0.00 | 8.5 | % | 3,452. | 3,452. | $ | /w/mo | Expense | 50.0000 | 50.0000 | 10.00 | 0.342 | ||||||||||||
| Gas Rate | 572. | 559. | Mcf/mo | 8.5 | % | 0.00 | 8.5 | % | Revenue | 15.00 | 0.341 | ||||||||||||||||||
| GOR | 1,160. | 1,160. | scf/bbl | Oil | 50.0000 | 50.0000 | 20.00 | 0.340 | |||||||||||||||||||||
| Gas Shrinkage | 0.0 | 0.0 | % | Gas | 50.0000 | 50.0000 | 25.00 | 0.339 | |||||||||||||||||||||
| Oil Severance | 4.6 | 4.6 | % | 30.00 | 0.337 | ||||||||||||||||||||||||
| Gas Severance | 5.3 | 5.3 | % | ||||||||||||||||||||||||||
| Ad Valorem | 3.4 | % | |||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: NEW168 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.333 Year Life (04/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 168 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 19 |
Cawley, Gillespie & Associates, Inc.
Table 20
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR C
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.214 | |||||||||
| **** | 12-2022 | **** | 0.175 | |||||||||
| **** | 12-2023 | **** | 0.137 | |||||||||
| **** | 12-2024 | **** | 0.103 | |||||||||
| **** | 12-2025 | **** | 0.070 | |||||||||
| **** | 12-2026 | **** | 0.039 | |||||||||
| **** | 12-2027 | **** | 0.010 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.747 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.747 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| EndMo-Year | ProductionTaxesM | Ad ValoremTaxesM | WellsGross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum. Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 1.0 | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 31.279 | |||||||||||||||||
| Oil Rate | 156. | 103. | bbls/mo | 6.0 | % | 0.00 | 6.0 | % | 3,452. | 3,452. | $ | /w/mo | Expense | 50.0000 | 50.0000 | 10.00 | 28.469 | ||||||||||||
| Gas Rate | 33. | 22. | Mcf/mo | 6.0 | % | 0.00 | 6.0 | % | Revenue | 15.00 | 26.141 | ||||||||||||||||||
| GOR | 216. | 216. | scf/bbl | Oil | 50.0000 | 50.0000 | 20.00 | 24.186 | |||||||||||||||||||||
| Gas Shrinkage | 0.0 | 0.0 | % | Gas | 50.0000 | 50.0000 | 25.00 | 22.527 | |||||||||||||||||||||
| Oil Severance | 4.6 | 4.6 | % | 30.00 | 21.104 | ||||||||||||||||||||||||
| Gas Severance | 5.3 | 5.3 | % | ||||||||||||||||||||||||||
| Ad Valorem | 3.4 | % | |||||||||||||||||||||||||||
| API: CODE: CGA173004 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDTC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 6.833 Year Life (10/2027) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 13 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 20 |
Cawley, Gillespie & Associates, Inc.
Table 21
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum. Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | 0. | 0. | Mcf/mo | 0.0 | % | 0.00 | 0.0 | % | 0. | 0. | $ | /w/mo | Expense | 40.6250 | 40.6250 | 10.00 | 0.000 | ||||||||||||
| Gas Rate | 0. | 0. | bbls/mo | 0.0 | % | 0.00 | 0.0 | % | Revenue | 15.00 | 0.000 | ||||||||||||||||||
| GOR | 0. 0 | 0.0 | bbl/MMcf | Oil | 40.6250 | 40.6250 | 20.00 | 0.000 | |||||||||||||||||||||
| Gas Shrinkage | 0.0 | 0.0 | % | Gas | 40.6250 | 40.6250 | 25.00 | 0.000 | |||||||||||||||||||||
| Oil Severance | 0.0 | 0.0 | % | 30.00 | 0.000 | ||||||||||||||||||||||||
| Gas Severance | 0.0 | % | |||||||||||||||||||||||||||
| Ad Valorem | 0.0 | % | |||||||||||||||||||||||||||
| API: 0000000000 CODE: CGA17300 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQDVC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 14 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 21 |
Cawley, Gillespie & Associates, Inc.
Table 22
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR C
SAND HILLS (TUBB - SAN ANGELO) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenue M | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum.Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: CGA172802 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: QASED69R2Y | 12Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 188 | CGA2020 01/29/2021 16:31:21 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 22 |
Cawley, Gillespie & Associates, Inc.
Table 23
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 13.781 | ||||||||||
| **** | 12-2022 | **** | 10.185 | ||||||||||
| **** | 12-2023 | **** | 6.824 | ||||||||||
| **** | 12-2024 | **** | 3.680 | ||||||||||
| **** | 12-2025 | **** | 0.821 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 35.291 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 35.291 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 89.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 89.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 89.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 89.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 89.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 2,055.235 | |||||||||||||||||
| Oil Rate | **** | 13,147. | **** | 9,607. | bbls/mo | **** | 6.5 | % | **** | 0.00 | **** | 6.5 | % | **** | 4,941. | **** | 4,941. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 1,921.265 |
| Gas Rate | **** | 68,010. | **** | 49,700. | Mcf/mo | **** | 6.5 | % | **** | 0.00 | **** | 6.5 | % | **** | Revenue | **** | 15.00 | **** | 1,805.559 | ||||||||||
| GOR | **** | 5,170. | **** | 5,170. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 1,704.769 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 1,616.293 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 1,538.081 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: CGA172801 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQD3B00 | 12Months in first year | ||||||||||||||||||||||||||||
| 4.750 Year Life (10/2025) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 19 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 23 |
Cawley, Gillespie & Associates, Inc.
Table 24
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 0.0 | **** | 4,368.6 | |||||||||
| **** | Ult | **** | 0.0 | **** | 4,368.6 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum.Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| GasRate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: CGA17280 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQD4B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN20 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 24 |
Cawley, Gillespie & Associates, Inc.
Table 25
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR C
SAND HILLS (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross Oil<br>Production<br>MBBLS | Gross Gas<br>Production<br>MMCF | Net Oil<br>Production<br>MBBLS | Net Gas<br>Sales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 1,878.9 | **** | 407.3 | |||||||||
| **** | Ult | **** | 1,878.9 | **** | 407.3 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | STot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Unit | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: CGA172802 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQD6B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 21 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 25 |
Cawley, Gillespie & Associates, Inc.
Table 26
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
SAND HILLS (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | ||||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 2,647.1 | **** | 5,882.0 | |||||||||
| **** | Ult | **** | 2,647.1 | **** | 5,882.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | **** | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | **** | /w/mo | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | **** | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | **** | scf/bbl | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | **** | % | **** | 30.00 | **** | 0.000 | |||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | **** | % | |||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | **** | % |
All values are in US Dollars.
| API: CODE: CGA172803 | ||
|---|---|---|
| PROPNUM: L8BFQD7B00 | Months in first year | |
| 0.000 Year Life (01/2021) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 22 | CGA2020 01/29/2021 16:31:22 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PDP | ||
| Table 26 |
Cawley, Gillespie & Associates, Inc.
Table 27
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
SAND HILLS (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | WellsGross NetCount | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Eva luation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: CGA17280 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQD9B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 23 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 27 |
Cawley, Gillespie & Associates, Inc.
Table 28
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR J
SAND HILLS (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: CGA17806 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQGKC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 25 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 28 |
Cawley, Gillespie & Associates, Inc.
Table 29
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
BLOCK 31 NW (PENN UPPER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210310597 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQE9B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 41 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 29 |
Cawley, Gillespie & Associates, Inc.
Table 30
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 4
BLOCK 31 NW (PENN UPPER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210310597 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEAB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 42 | CGA2020 01/29/2021 16:31:22 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 30 |
Cawley, Gillespie & Associates, Inc.
Table 31
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
DUNE (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: MIN CODE: 201,000,011915A | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQESC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 53 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 31 |
Cawley, Gillespie & Associates, Inc.
Table 32
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
DUNE (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 873.3 | **** | 461.8 | |||||||||
| **** | Ult | **** | 873.3 | **** | 461.8 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: MIN CODE: 201,000,011915B | |||||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| PROPNUM: L8BFQETC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 54 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 32 |
Cawley, Gillespie & Associates, Inc.
Table 33
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
EDWARDS (GRAYBURG) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 178.4 | **** | 0.0 | |||||||||
| **** | Ult | **** | 178.4 | **** | 0.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301056 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| PROPNUM: L8BFQEWC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 56 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 33 |
Cawley, Gillespie & Associates, Inc.
Table 34
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR 1
RM (CLEARFORK) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210334580 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQG1C00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 120 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 34 |
Cawley, Gillespie & Associates, Inc.
Table 35
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
UNIVERSITY WADDELL (GRAYBURG) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210333082 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMQ7K3R6 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 185 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 35 |
Cawley, Gillespie & Associates, Inc.
Table 36
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
UNIVERSITY WADDELL (ELLENBURGER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: NEW166 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 166 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 36 |
Cawley, Gillespie & Associates, Inc.
Table 37
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
UNIVERSITY WADDELL (PENN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301595 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQG7B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 97 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 37 |
Cawley, Gillespie & Associates, Inc.
Table 38
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR 3
UNIVERSITY WADDELL (WADDELL SD) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.133 | ||||||||||
| **** | 12-2022 | **** | 1.889 | ||||||||||
| **** | 12-2023 | **** | 1.688 | ||||||||||
| **** | 12-2024 | **** | 1.521 | ||||||||||
| **** | 12-2025 | **** | 1.378 | ||||||||||
| **** | 12-2026 | **** | 1.257 | ||||||||||
| **** | 12-2027 | **** | 1.150 | ||||||||||
| **** | 12-2028 | **** | 1.058 | ||||||||||
| **** | 12-2029 | **** | 0.973 | ||||||||||
| **** | 12-2030 | **** | 0.894 | ||||||||||
| **** | 12-2031 | **** | 0.820 | ||||||||||
| **** | 12-2032 | **** | 0.750 | ||||||||||
| **** | 12-2033 | **** | 0.684 | ||||||||||
| **** | 12-2034 | **** | 0.622 | ||||||||||
| **** | 12-2035 | **** | 0.564 | ||||||||||
| **** | S Tot | **** | 17.382 | ||||||||||
| **** | After | **** | 3.432 | ||||||||||
| **** | Total | **** | 20.814 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 1.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 679.754 | |||||||||||||||||
| Oil Rate | **** | 801. | **** | 106. | bbls/mo | **** | 10.8 | % | **** | 0.00 | **** | 6.0 | % | **** | 3,561. | **** | 3,561. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 523.094 |
| Gas Rate | **** | 120. | **** | 16. | Mcf/mo | **** | 10.8 | % | **** | 0.00 | **** | 6.0 | % | **** | Revenue | **** | 15.00 | **** | 426.589 | ||||||||||
| GOR | **** | 150. | **** | 150. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 362.027 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 316.050 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 281.708 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210333675 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQGFB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 30.167 Year Life (03/2051) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 102 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 38 |
Cawley, Gillespie & Associates, Inc.
Table 39
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
WADDELL (WICHITA ALBANY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | ||||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 8.9 | **** | 7.7 | |||||||||
| **** | Ult | **** | 8.9 | **** | 7.7 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 375.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: SC1M6KWR1A | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 193 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 39 |
Cawley, Gillespie & Associates, Inc.
Table 40
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
WADDELL (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | ||||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 3.0 | **** | 11.9 | **** | 0.280 | **** | 1.080 | |||||
| **** | 12-2022 | **** | 2.8 | **** | 11.1 | **** | 0.230 | **** | 0.884 | |||||
| **** | 12-2023 | **** | 2.7 | **** | 10.4 | **** | 0.184 | **** | 0.701 | |||||
| **** | 12-2024 | **** | 2.5 | **** | 9.8 | **** | 0.140 | **** | 0.530 | |||||
| **** | 12-2025 | **** | 2.4 | **** | 9.2 | **** | 0.099 | **** | 0.369 | |||||
| **** | 12-2026 | **** | 2.2 | **** | 8.6 | **** | 0.060 | **** | 0.218 | |||||
| **** | 12-2027 | **** | 2.1 | **** | 8.1 | **** | 0.024 | **** | 0.077 | |||||
| **** | 12-2028 | **** | 0.3 | **** | 1.3 | **** | 0.001 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 18.1 | **** | 70.4 | **** | 1.018 | **** | 3.860 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 18.1 | **** | 70.4 | **** | 1.018 | **** | 3.860 | |||||
| **** | Cum | **** | 177.0 | **** | 340.5 | |||||||||
| **** | Ult | **** | 195.0 | **** | 410.9 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 53.599 | |||||||||||||||||
| Oil Rate | **** | 259. | **** | 167. | bbls/mo | **** | 6.0 | % | **** | 0.00 | **** | 6.0 | % | **** | 3,561. | **** | 3,561. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 48.597 |
| Gas Rate | **** | 1,016. | **** | 648. | Mcf/mo | **** | 6.2 | % | **** | 0.00 | **** | 6.2 | % | **** | Revenue | **** | 15.00 | **** | 44.477 | ||||||||||
| GOR | **** | 3,910. | **** | 3,860. | scf/bbl | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 41.037 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 375.5000 | **** | 37.5000 | **** | 25.00 | **** | 38.131 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 35.649 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: 101,000, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQG9B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 7.167 Year Life (03/2028) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 98 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 40 |
Cawley, Gillespie & Associates, Inc.
Table 41
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WN WADDELL DPU 1233 ERDU
WADDELL (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | ||||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 0.6 | **** | 0.6 | |||||||||
| **** | Ult | **** | 0.6 | **** | 0.6 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | ||||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | **** | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 18.7500 | **** | 18.7500 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | **** | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | **** | scf/bbl | **** | Oil | **** | 18.7500 | **** | 18.7500 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 18.7500 | **** | 18.7500 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | **** | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | **** | % | ||||||||||||||||||||||||||
| API: 4210334560 CODE: | ||||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||||
| PROPNUM: VBJHAK661W | 12 Months in first year | |||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | ||||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 197 | CGA2020 01/29/2021 16:31:23 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 41 |
Cawley, Gillespie & Associates, Inc.
Table 42
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 3
WADDELL (GRAYBURG) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenue M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: 201,000, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM:L8BFQHLC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 145 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 42 |
Cawley, Gillespie & Associates, Inc.
Table 43
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR 1
WADDELL (GRAYBURG-QUEEN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: 201,000, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQGAB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 99 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 43 |
Cawley, Gillespie & Associates, Inc.
Table 44
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
BLOCK 27 (MCKEE) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: 201,000, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQE7B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 39 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 44 |
Cawley, Gillespie & Associates, Inc.
Table 45
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
BLOCK B-21 (ELLENBURGER-TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.165 | ||||||||||
| **** | 12-2022 | **** | 0.115 | ||||||||||
| **** | 12-2023 | **** | 0.071 | ||||||||||
| **** | 12-2024 | **** | 0.032 | ||||||||||
| **** | 12-2025 | **** | 0.003 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.385 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.385 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 38.056 | |||||||||||||||||
| Oil Rate | **** | 105. | **** | 62. | bbls/mo | **** | 11.5 | % | **** | 0.00 | **** | 11.5 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 35.788 |
| Gas Rate | **** | 1,895. | **** | 1,116. | Mcf/mo | **** | 11.5 | % | **** | 0.00 | **** | 11.5 | % | **** | Revenue | **** | 15.00 | **** | 33.812 | ||||||||||
| GOR | **** | 18,000. | **** | 18,000. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 32.078 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 30.545 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 29.181 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210301737 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMMJ25O6 | 12 Months in first year | ||||||||||||||||||||||||||||
| 4.417 Year Life (06/2025) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 183 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 45 |
Cawley, Gillespie & Associates, Inc.
Table 46
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL
BLOCK B-21 (ELLENBURGER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301714 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQECB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 43 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 46 |
Cawley, Gillespie & Associates, Inc.
Table 47
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
BLOCK B-21 (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End | Production<br>Taxes | Ad Valorem<br>Taxes | Wells<br><br><br>Gross Net | Operating<br>Expense | Other<br>Deductions | Investment | Future Net<br>Cash Flow | Cumulative<br>Cash Flow | Cum.Cash Flow<br>Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301812 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEFB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 45 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 47 |
Cawley, Gillespie & Associates, Inc.
Table 48
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch
Properties Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A 0357
BLOCK B-27 (CONNELL) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End | Production<br>Taxes | Ad Valorem<br>Taxes | Wells<br><br><br>Gross Net | Operating<br>Expense | Other<br>Deductions | Investment | Future Net<br>Cash Flow | Cumulative<br>Cash Flow | Cum.Cash Flow<br>Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 42-103-01825 CODE: 100-10 | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQHAB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 137 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 48 |
Cawley, Gillespie & Associates, Inc.
Table 49
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
C-BAR (SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 656.6 | **** | 0.0 | |||||||||
| **** | Ult | **** | 656.6 | **** | 0.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301852 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEHC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 46 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 49 |
Cawley, Gillespie & Associates, Inc.
Table 50
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
CORDONA LAKE (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 646.9 | **** | 0.0 | |||||||||
| **** | Ult | **** | 646.9 | **** | 0.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301691 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEIC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 47 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 50 |
Cawley, Gillespie & Associates, Inc.
Table 51
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
CORDONA LAKE N (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 1,070.6 | **** | 3,849.1 | |||||||||
| **** | Ult | **** | 1,070.6 | **** | 3,849.1 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210302083 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQELC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 49 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 51 |
Cawley, Gillespie & Associates, Inc.
Table 52
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
CORDONA LAKE N (TUBB 4500) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 1,058.6 | **** | 0.0 | |||||||||
| **** | Ult | **** | 1,058.6 | **** | 0.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | ||||||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 15.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 25.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210302095 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEKC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 48 | CGA2020 01/29/2021 16:31:23 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 52 |
Cawley, Gillespie & Associates, Inc.
Table 53
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
CORDONA LAKE SW (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 5.8 | **** | 6.9 | **** | 0.301 | **** | 0.344 | |||||
| **** | 12-2022 | **** | 5.2 | **** | 6.2 | **** | 0.121 | **** | 0.132 | |||||
| **** | 12-2023 | **** | 1.2 | **** | 1.4 | **** | 0.005 | **** | 0.002 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 12.2 | **** | 14.5 | **** | 0.427 | **** | 0.478 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 12.2 | **** | 14.5 | **** | 0.427 | **** | 0.478 | |||||
| **** | Cum | **** | 578.5 | **** | 1,069.7 | |||||||||
| **** | Ult | **** | 590.8 | **** | 1,084.2 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 20.417 | |||||||||||||||||
| Oil Rate | **** | 509. | **** | 401. | bbls/mo | **** | 10.5 | % | **** | 0.00 | **** | 10.5 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 19.754 |
| Gas Rate | **** | 604. | **** | 475. | Mcf/mo | **** | 10.5 | % | **** | 0.00 | **** | 10.5 | % | **** | Revenue | **** | 15.00 | **** | 19.150 | ||||||||||
| GOR | **** | 1,180. | **** | 1,180. | scf/bbl | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 18.598 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 18.092 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 17.625 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210310883 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQENC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 2.250 Year Life (04/2023) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 50 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 53 |
Cawley, Gillespie & Associates, Inc.
Table 54
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
CORDONA LAKE W (DEVONIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.171 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.171 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.171 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 8.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 11.182 | |||||||||||||||||
| Oil Rate | **** | 887. | **** | 778. | bbls/mo | **** | 16.0 | % | **** | 0.00 | **** | 16.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 11.045 |
| Gas Rate | **** | 5,909. | **** | 5,185. | Mcf/mo | **** | 16.0 | % | **** | 0.00 | **** | 16.0 | % | **** | Revenue | **** | 15.00 | **** | 10.915 | ||||||||||
| GOR | **** | 6,660. | **** | 6,660. | scf/bbl | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 10.794 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 10.679 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 10.570 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210310601 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEPC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.833 Year Life (10/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 51 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 54 |
Cawley, Gillespie & Associates, Inc.
Table 55
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
VANGUARD OPERATING LLC — WADDELL W N 1
CRAWAR (SAN ANDRES CONS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 9.2940 | **** | 9.2940 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 42103055850001 CODE: 142, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQG4B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 94 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 55 |
Cawley, Gillespie & Associates, Inc.
Table 56
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR E
DELL (SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.002 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.002 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.002 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.113 | |||||||||||||||||
| Oil Rate | **** | 148. | **** | 145. | bbls/mo | **** | 7.5 | % | **** | 0.00 | **** | 7.5 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.112 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.112 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.111 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.111 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 0.110 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 42103057280000 CODE: 142, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEQC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.333 Year Life (04/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 52 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 56 |
Cawley, Gillespie & Associates, Inc.
Table 57
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR H
LEA (SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 221.5 | **** | 303.3 | |||||||||
| **** | Ult | **** | 221.5 | **** | 303.3 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301697 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQE0C00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 57 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 57 |
Cawley, Gillespie & Associates, Inc.
Table 58
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR H
LEA SOUTH (CLEAR FORK) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.580 | ||||||||||
| **** | 12-2022 | **** | 0.484 | ||||||||||
| **** | 12-2023 | **** | 0.397 | ||||||||||
| **** | 12-2024 | **** | 0.315 | ||||||||||
| **** | 12-2025 | **** | 0.241 | ||||||||||
| **** | 12-2026 | **** | 0.172 | ||||||||||
| **** | 12-2027 | **** | 0.109 | ||||||||||
| **** | 12-2028 | **** | 0.051 | ||||||||||
| **** | 12-2029 | **** | 0.005 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 2.355 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 2.355 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 97.023 | |||||||||||||||||
| Oil Rate | **** | 286. | **** | 142. | bbls/mo | **** | 8.0 | % | **** | 0.00 | **** | 8.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 86.831 |
| Gas Rate | **** | 76. | **** | 37. | Mcf/mo | **** | 8.0 | % | **** | 0.00 | **** | 8.0 | % | **** | Revenue | **** | 15.00 | **** | 78.615 | ||||||||||
| GOR | **** | 267. | **** | 267. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 71.884 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 66.290 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 61.582 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210301992 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQEOC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 8.500 Year Life (07/2029) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 59 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 58 |
Cawley, Gillespie & Associates, Inc.
Table 59
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR H
LEA SOUTH (SAN ANGELO) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | TotalRevenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.066 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.066 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.066 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 3.084 | |||||||||||||||||
| Oil Rate | **** | 597. | **** | 561. | bbls/mo | **** | 9.0 | % | **** | 0.00 | **** | 9.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 3.048 |
| Gas Rate | **** | 299. | **** | 280. | Mcf/mo | **** | 9.0 | % | **** | 0.00 | **** | 9.0 | % | **** | Revenue | **** | 15.00 | **** | 3.015 | ||||||||||
| GOR | **** | 500. | **** | 500. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 2.984 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 2.954 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 2.926 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210333455 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQF0B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.750 Year Life (10/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 61 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 59 |
Cawley, Gillespie & Associates, Inc.
Table 60
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR H
LEA SOUTH (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | TotalRevenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210332989 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQF1B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 62 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 60 |
Cawley, Gillespie & Associates, Inc.
Table 61
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I 184
MCKEE (CLEAR FORK LOWER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | TotalRevenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210302474 CODE:100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQF3B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 63 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 61 |
Cawley, Gillespie & Associates, Inc.
Table 62
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
MCKEE (CLEAR FORK) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 2.6 | **** | 2,346.6 | |||||||||
| **** | Ult | **** | 2.6 | **** | 2,346.6 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQH1B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 124 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 62 |
Cawley, Gillespie & Associates, Inc.
Table 63
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
MCKEE (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 58.4 | **** | 1,703.5 | |||||||||
| **** | Ult | **** | 58.4 | **** | 1,703.5 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301690 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQF4B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 64 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 63 |
Cawley, Gillespie & Associates, Inc.
Table 64
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 0.0 | **** | 193.4 | |||||||||
| **** | Ult | **** | 0.0 | **** | 193.4 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQH9B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 133 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 64 |
Cawley, Gillespie & Associates, Inc.
Table 65
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 6.1 | **** | 0.0 | |||||||||
| **** | Ult | **** | 6.1 | **** | 0.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units_ | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQTRB160 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 160 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 65 |
Cawley, Gillespie & Associates, Inc.
Table 66
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 9.2 | **** | 352.1 | |||||||||
| **** | Ult | **** | 9.2 | **** | 352.1 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units_ | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210302292 CODE: 200,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQF9B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 67 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 66 |
Cawley, Gillespie & Associates, Inc.
Table 67
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210302304 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFCB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 69 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 67 |
Cawley, Gillespie & Associates, Inc.
Table 68
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (WADDELL) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.271 | ||||||||||
| **** | 12-2022 | **** | 0.029 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.300 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.300 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 19.048 | |||||||||||||||||
| Oil Rate | **** | 1,332. | **** | 1,244. | bbls/mo | **** | 5.0 | % | **** | 0.00 | **** | 5.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 18.646 |
| Gas Rate | **** | 9,259. | **** | 8,647. | Mcf/mo | **** | 5.0 | % | **** | 0.00 | **** | 5.0 | % | **** | Revenue | **** | 15.00 | **** | 18.273 | ||||||||||
| GOR | **** | 6,940. | **** | 6,940. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 17.926 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 17.603 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 17.301 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210302296 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFHC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 1.417 Year Life (06/2022) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 73 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 68 |
Cawley, Gillespie & Associates, Inc.
Table 69
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (WADDELL) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net OilProduction | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End | Production<br>Taxes | Ad Valorem<br>Taxes | Wells<br><br><br>Gross Net | Operating<br>Expense | Other<br>Deductions | Investment | Future Net<br>Cash Flow | Cumulative<br>Cash Flow | Cum.Cash Flow<br>Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQH3B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 125 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 69 |
Cawley, Gillespie & Associates, Inc.
Table 70
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (WADDELL) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | |||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End | Production<br>Taxes | Ad Valorem<br>Taxes | Wells<br><br><br>Gross Net | Operating<br>Expense | Other<br>Deductions | Investment | Future Net<br>Cash Flow | Cumulative<br>Cash Flow | Cum.Cash Flow<br>Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | ||||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | **** | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | **** | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | **** | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | **** | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | **** | % | ||||||||||||||||||||||||||
| API: CODE: | ||||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||||
| PROPNUM: L8BFQH4B00 | 12 Months in first year | |||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | ||||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 126 | CGA2020 01/29/2021 16:31:24 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| GAS PDP | ||||||||||||||||||||||||||||||
| Table 70 |
Cawley, Gillespie & Associates, Inc.
here]
Table 71
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (WADDELL) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br><br><br>Production | Gross Gas<br><br><br>Production | Net Oil<br><br><br>Production | Net Gas<br><br><br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | |||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | After | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | Total | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | Cum | **** | 0.0 | **** | 1.5 | |||||||||
| **** | Ult | **** | 0.0 | **** | 1.5 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Production<br>Taxes | Ad Valorem<br>Taxes | Wells<br><br><br>Gross Net | Operating<br>Expense | Other<br>Deductions | Investment | Future Net<br>Cash Flow | Cumulative<br>Cash Flow | Cum.Cash Flow<br>Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210335253 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQHCB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 138 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 71 |
Cawley, Gillespie & Associates, Inc.
Table 72
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (WICHITA ALBANY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.508 | ||||||||||
| **** | 12-2022 | **** | 0.408 | ||||||||||
| **** | 12-2023 | **** | 0.321 | ||||||||||
| **** | 12-2024 | **** | 0.245 | ||||||||||
| **** | 12-2025 | **** | 0.178 | ||||||||||
| **** | 12-2026 | **** | 0.120 | ||||||||||
| **** | 12-2027 | **** | 0.068 | ||||||||||
| **** | 12-2028 | **** | 0.024 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 1.871 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 1.871 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 147.214 | |||||||||||||||||
| Gas Rate | **** | 2,455. | **** | 843. | Mcf/mo | **** | 12.5 | % | **** | 0.00 | **** | 12.5 | % | **** | 4,291. | **** | 4,291. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 132.876 |
| Oil Rate | **** | 195. | **** | 67. | bbls/mo | **** | 12.5 | % | **** | 0.00 | **** | 12.5 | % | **** | Revenue | **** | 15.00 | **** | 121.190 | ||||||||||
| Yield | **** | 79.5 | **** | 79.5 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 111.521 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 103.414 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 96.536 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210330778 CODE: 200,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFKC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 8.083 Year Life (01/2029) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 75 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 72 |
Cawley, Gillespie & Associates, Inc.
Table 73
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (WICHITA ALBANY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301856 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFNC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 77 | CGA2020 01/29/2021 16:31:24 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 73 |
Cawley, Gillespie & Associates, Inc.
Table 74
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W (WICHITA ALBANY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | Total RevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0. | **** | 0. | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQH7B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 132 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 74 |
Cawley, Gillespie & Associates, Inc.
Table 75
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
RUNNING W NORTH (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenue M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210301957 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMNOUAQA | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 184 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 75 |
Cawley, Gillespie & Associates, Inc.
Table 76
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR D
RUNNING W NORTH (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.268 | ||||||||||
| **** | 12-2022 | **** | 1.126 | ||||||||||
| **** | 12-2023 | **** | 0.995 | ||||||||||
| **** | 12-2024 | **** | 0.875 | ||||||||||
| **** | 12-2025 | **** | 0.765 | ||||||||||
| **** | 12-2026 | **** | 0.663 | ||||||||||
| **** | 12-2027 | **** | 0.570 | ||||||||||
| **** | 12-2028 | **** | 0.484 | ||||||||||
| **** | 12-2029 | **** | 0.405 | ||||||||||
| **** | 12-2030 | **** | 0.332 | ||||||||||
| **** | 12-2031 | **** | 0.265 | ||||||||||
| **** | 12-2032 | **** | 0.203 | ||||||||||
| **** | 12-2033 | **** | 0.147 | ||||||||||
| **** | 12-2034 | **** | 0.095 | ||||||||||
| **** | 12-2035 | **** | 0.047 | ||||||||||
| **** | S Tot | **** | 8.239 | ||||||||||
| **** | After | **** | 0.007 | ||||||||||
| **** | Total | **** | 8.246 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 1.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 380.467 | |||||||||||||||||
| Oil Rate | **** | 424. | **** | 116. | bbls/mo | **** | 8.0 | % | **** | 0.00 | **** | 8.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 318.875 |
| Gas Rate | **** | 1,396 | **** | 383. | Mcf/mo | **** | 8.0 | % | **** | 0.00 | **** | 8.0 | % | **** | Revenue | **** | 15.00 | **** | 274.365 | ||||||||||
| GOR | **** | 3,290. | **** | 3,290. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 241.057 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 215.380 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 195.077 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 03.4 | % | ||||||||||||||||||||||||||
| API: 4210332471 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM:L8BFQFPC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 15.583 Year Life (01/2036) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 78 | CGA2021 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 76 |
Cawley, Gillespie & Associates, Inc.
Table 77
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (SAN ANGELO-MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.458 | |||||||||
| **** | 12-2022 | **** | 0.387 | |||||||||
| **** | 12-2023 | **** | 0.322 | |||||||||
| **** | 12-2024 | **** | 0.262 | |||||||||
| **** | 12-2025 | **** | 0.205 | |||||||||
| **** | 12-2026 | **** | 0.153 | |||||||||
| **** | 12-2027 | **** | 0.104 | |||||||||
| **** | 12-2028 | **** | 0.059 | |||||||||
| **** | 12-2029 | **** | 0.017 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 1.966 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 1.966 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | WellsGross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 1.0 | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 90.926 | |||||||||||||||||
| Oil Rate | **** | 238. | **** | 125. | bbls/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 80.896 | |
| Gas Rate | **** | 498. | **** | 262. | Mcf/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | Revenue | **** | 15.00 | **** | 72.881 | |||||||||||
| GOR | **** | 2,090. | **** | 2,090. | scf/bbl | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 66.366 | |||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 60.988 | |||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 56.489 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210332587 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQLKCAO66 | 12 Months in first year | ||||||||||||||||||||||||||||
| 8.917 Year Life (12/2029) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 174 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 77 |
Cawley, Gillespie & Associates, Inc.
Table 78
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR C
SAND HILLS (SAN ANGELO) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.162 | ||||||||||
| **** | 12-2022 | **** | 0.077 | ||||||||||
| **** | 12-2023 | **** | 0.013 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.252 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.252 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 11.947 | |||||||||||||||||
| Oil Rate | **** | 182. | **** | 134. | bbls/mo | **** | 12.7 | % | **** | 0.00 | **** | 9.6 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 11.504 | |
| Gas Rate | **** | 195. | **** | 144. | Mcf/mo | **** | 12.7 | % | **** | 0.00 | **** | 9.6 | % | Revenue | **** | 15.00 | **** | 11.105 | |||||||||||
| GOR | **** | 1,070. | **** | 1,070. | scf/bbl | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 10.742 | |||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 10.412 | |||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 10.109 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210332594 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQLECNS47 | 12 Months in first year | ||||||||||||||||||||||||||||
| 2.667 Year Life (09/2023) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 173 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 78 |
Cawley, Gillespie & Associates, Inc.
Table 79
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (CLEARFORK) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.109 | ||||||||||
| **** | 12-2022 | **** | 1.676 | ||||||||||
| **** | 12-2023 | **** | 1.329 | ||||||||||
| **** | 12-2024 | **** | 1.043 | ||||||||||
| **** | 12-2025 | **** | 0.804 | ||||||||||
| **** | 12-2026 | **** | 0.601 | ||||||||||
| **** | 12-2027 | **** | 0.426 | ||||||||||
| **** | 12-2028 | **** | 0.275 | ||||||||||
| **** | 12-2029 | **** | 0.142 | ||||||||||
| **** | 12-2030 | **** | 0.029 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 8.433 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 8.433 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 7.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 783.234 | |||||||||||||||||
| Oil Rate | **** | 972. | **** | 435. | bbls/mo | **** | 12.0 | % | **** | 0.00 | **** | 5.6 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 698.361 | |
| Gas Rate | **** | 17,399. | **** | 7,796. | Mcf/mo | **** | 12.0 | % | **** | 0.00 | **** | 5.6 | % | Revenue | **** | 15.00 | **** | 630.794 | |||||||||||
| GOR | **** | 17,800. | **** | 17,800. | scf/bbl | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 576.002 | |||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 530.841 | |||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 493.078 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: NEW165 | 12 Months in first year | ||||||||||||||||||||||||||||
| 9.667 Year Life (09/2030) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 165 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 79 |
Cawley, Gillespie & Associates, Inc.
Table 80
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (SAN ANGELO-MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 1.749 | |||||||||
| **** | 12-2022 | **** | 1.362 | |||||||||
| **** | 12-2023 | **** | 1.066 | |||||||||
| **** | 12-2024 | **** | 0.832 | |||||||||
| **** | 12-2025 | **** | 0.643 | |||||||||
| **** | 12-2026 | **** | 0.487 | |||||||||
| **** | 12-2027 | **** | 0.356 | |||||||||
| **** | 12-2028 | **** | 0.245 | |||||||||
| **** | 12-2029 | **** | 0.150 | |||||||||
| **** | 12-2030 | **** | 0.067 | |||||||||
| **** | 12-2031 | **** | 0.006 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 6.963 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 6.963 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | WellsGross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 2.0 | .0 | ||||||||
| **** | 12-2022 | **** | 2.0 | .0 | ||||||||
| **** | 12-2023 | **** | 2.0 | .0 | ||||||||
| **** | 12-2024 | **** | 2.0 | .0 | ||||||||
| **** | 12-2025 | **** | 2.0 | .0 | ||||||||
| **** | 12-2026 | **** | 2.0 | .0 | ||||||||
| **** | 12-2027 | **** | 2.0 | .0 | ||||||||
| **** | 12-2028 | **** | 2.0 | .0 | ||||||||
| **** | 12-2029 | **** | 2.0 | .0 | ||||||||
| **** | 12-2030 | **** | 2.0 | .0 | ||||||||
| **** | 12-2031 | **** | 2.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 355.376 | |||||||||||||||||
| Oil Rate | **** | 678. | **** | 228. | bbls/mo | **** | 15.8 | % | **** | 0.00 | **** | 6.7 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 316.048 | |
| Gas Rate | **** | 2,557. | **** | 831. | Mcf/mo | **** | 16.1 | % | **** | 0.00 | **** | 7.0 | % | Revenue | **** | 15.00 | **** | 284.981 | |||||||||||
| GOR | **** | 3,770. | **** | 3,630. | scf/bbl | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 259.943 | |||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 239.408 | |||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 222.304 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210302333 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFQC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 10.417 Year Life (06/2031) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 80 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 80 |
Cawley, Gillespie & Associates, Inc.
Table 81
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL SEC 20 43
SAND HILLS (ORDOVICIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | WellsGross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | ||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | |||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | |||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | |||||||||||||||||||||||||
| API: 4210381026 CODE: 100,103, | ||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||
| PROPNUM: L8BFQFSC00 | 12 Months in first year | |||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | ||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 81 | CGA2020 01/29/2021 16:31:25 | ||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||
| Table 81 |
Cawley, Gillespie & Associates, Inc.
Table 82
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
SAND HILLS (ORDOVICIAN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross Oil<br>Production<br>MBBLS | Gross Gas<br>Production<br>MMCF | Net Oil<br>Production<br>MBBLS | Net Gas<br>Sales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 8,358.4 | **** | 7,241.0 | |||||||||
| **** | Ult | **** | 8,358.4 | **** | 7,241.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210302312 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFTC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 82 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 82 |
Cawley, Gillespie & Associates, Inc.
Table 83
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (SAN ANGELO UPPER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | ||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | |||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | |||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | |||||||||||||||||||||||||
| API: 4210330160 CODE:<br>242-080- | ||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||
| PROPNUM: L8BFQF0C00 | 12 Months in first year | |||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | ||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 86 | CGA2020 01/29/2021 16:31:25 | ||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||
| GAS PDP | ||||||||||||||||||||||||||||
| Table 83 |
Cawley, Gillespie & Associates, Inc.
Table 84
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (SAN ANGELO UPPER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 6.894 | ||||||||||
| **** | 12-2022 | **** | 5.199 | ||||||||||
| **** | 12-2023 | **** | 3.623 | ||||||||||
| **** | 12-2024 | **** | 2.157 | ||||||||||
| **** | 12-2025 | **** | 0.794 | ||||||||||
| **** | 12-2026 | **** | 0.008 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 18.674 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 18.674 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 41.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 41.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 41.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 41.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 41.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 41.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 1,160.834 | |||||||||||||||||
| Oil Rate | **** | 5,768. | **** | 4,013. | bbls/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 1,080.437 |
| Gas Rate | **** | 37,636. | **** | 26,183. | Mcf/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | **** | Revenue | **** | 15.00 | **** | 1,011.472 | ||||||||||
| GOR | **** | 6,520. | **** | 6,520. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 951.769 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 899.655 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 853.824 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210302307 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFWC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 5.083 Year Life (01/2026) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 85 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 84 |
Cawley, Gillespie & Associates, Inc.
Table 85
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (WICHITA ALBANY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 1.613 | ||||||||||
| **** | 12-2022 | **** | 1.127 | ||||||||||
| **** | 12-2023 | **** | 0.713 | ||||||||||
| **** | 12-2024 | **** | 0.356 | ||||||||||
| **** | 12-2025 | **** | 0.062 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 3.871 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 3.871 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 10.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 10.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 10.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 10.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 10.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 261.480 | |||||||||||||||||
| Gas Rate | **** | 9,974. | **** | 6,527. | Mcf/mo | **** | 10.1 | % | **** | 0.00 | **** | 8.0 | % | **** | 4,291. | **** | 4,291. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 245.342 |
| Oil Rate | **** | 1,236. | **** | 809. | bbls/mo | **** | 10.1 | % | **** | 0.00 | **** | 8.0 | % | **** | Revenue | **** | 15.00 | **** | 231.344 | ||||||||||
| Yield | **** | 124. | **** | 124. | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 219.103 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 208.317 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 198.749 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210302061 CODE: 200,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQF1C00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 4.667 Year Life (09/2025) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 87 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 85 |
Cawley, Gillespie & Associates, Inc.
Table 86
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (WICHITA ALBANY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.531 | ||||||||||
| **** | 12-2022 | **** | 0.375 | ||||||||||
| **** | 12-2023 | **** | 0.251 | ||||||||||
| **** | 12-2024 | **** | 0.150 | ||||||||||
| **** | 12-2025 | **** | 0.068 | ||||||||||
| **** | 12-2026 | **** | 0.008 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 1.383 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 1.383 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 66.030 | ||||||||||||||||||
| Oil Rate | **** | 270. | **** | 128. | **** | bbls/mo | **** | 15.5 | % | **** | 0.00 | **** | 10.7 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 61.468 |
| Gas Rate | **** | 472. | **** | 225. | **** | Mcf/mo | **** | 15.5 | % | **** | 0.00 | **** | 10.7 | % | **** | Revenue | **** | 15.00 | **** | 57.567 | ||||||||||
| GOR | **** | 1,740. | **** | 1,740. | **** | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 54.198 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 51.264 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | **** | % | **** | 30.00 | **** | 48.688 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | **** | % | ||||||||||||||||||||||||||
| API: 4210302014 CODE: 100,103, | ||||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||||
| PROPNUM: L8BFQGHC00 | 12Months in first year | |||||||||||||||||||||||||||||
| 5.500 Year Life (07/2026) | ||||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 103 | CGA2020 01/29/2021 16:31:25 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 86 |
Cawley, Gillespie & Associates, Inc.
Table 87
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (WOJCIK-MCELROY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: MCELGASP | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQGTC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 114 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 87 |
Cawley, Gillespie & Associates, Inc.
Table 88
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR C
SAND HILLS (WOJCIK-MCELROY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210335249 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQHFB00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 140 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 88 |
Cawley, Gillespie & Associates, Inc.
Table 89
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210302370 CODE: 100,103, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQFOC00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 88 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 89 |
Cawley, Gillespie & Associates, Inc.
Table 90
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 0000000000 CODE: 201,000, | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: L8BFQG6B00 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 95 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 90 |
Cawley, Gillespie & Associates, Inc.
Table 91
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
SAND HILLS EAST (ELLENBURGER) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross Gas<br>Production<br>MMCF | Net Oil<br>Production<br>MBBLS | Net Gas<br>Sales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 4.5 | **** | 6.2 | 0.502 | **** | 0.678 | |||||
| **** | 12-2022 | **** | 4.2 | **** | 5.8 | 0.378 | **** | 0.508 | |||||
| **** | 12-2023 | **** | 3.9 | **** | 5.3 | 0.265 | **** | 0.352 | |||||
| **** | 12-2024 | **** | 3.6 | **** | 4.9 | 0.159 | **** | 0.207 | |||||
| **** | 12-2025 | **** | 3.3 | **** | 4.6 | 0.062 | **** | 0.073 | |||||
| **** | 12-2026 | **** | 0.5 | **** | 0.7 | 0.001 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 20.1 | **** | 27.6 | 1.367 | **** | 1.818 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 20.1 | **** | 27.6 | 1.367 | **** | 1.818 | |||||
| **** | Cum | **** | 597.7 | **** | 523.1 | ||||||||
| **** | Ult | **** | 617.8 | **** | 550.7 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 63.494 | ||||||||||||||||||
| Oil Rate | **** | 392. | **** | 263. | **** | bbls/mo | **** | 7.5 | % | **** | 0.00 | **** | 7.5 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 59.046 |
| Gas Rate | **** | 539. | **** | 362. | **** | Mcf/mo | **** | 7.5 | % | **** | 0.00 | **** | 7.5 | % | **** | Revenue | **** | 15.00 | **** | 55.236 | ||||||||||
| GOR | **** | 1,370. | **** | 1,370. | **** | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 51.942 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 49.070 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | **** | % | **** | 30.00 | **** | 46.547 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | **** | % | ||||||||||||||||||||||||||
| API: MIN CODE: 200,000,020914A | ||||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||||
| PROPNUM: L8BFQFDB00 | 12 Months in first year | |||||||||||||||||||||||||||||
| 5.167 Year Life (03/2026) | ||||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 89 | CGA2020 01/29/2021 16:31:25 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 91 |
Cawley, Gillespie & Associates, Inc.
Table 92
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I
SAND HILLS S (HOLT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProduction<br>MBBLS | Gross GasProduction<br>MMCF | Net OilProduction<br>MBBLS | Net GasSales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 157.8 | **** | 0.0 | ||||||||
| **** | Ult | **** | 157.8 | **** | 0.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | ||||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | **** | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | **** | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | **** | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | **** | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | **** | % | ||||||||||||||||||||||||||
| API: 4210302293 CODE: 100,103, | ||||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||||
| PROPNUM: L8BFQG3B00 | 12 Months in first year | |||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | ||||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 92 | CGA2020 01/29/2021 16:31:25 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 92 |
Cawley, Gillespie & Associates, Inc.
Table 93
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS -- WADDELL WN ETAL TR A
SAND HILLS WEST (WOLFCAMP) FIELD -- CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.011 | |||||||||
| **** | 12-2022 | **** | 0.001 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.012 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.012 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 3.0 | .0 | ||||||||
| **** | 12-2022 | **** | 3.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 6.281 | |||||||||||||||||
| Oil Rate | **** | 36. | **** | 33. | bbls/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 6.149 |
| Gas Rate | **** | 5,953. | **** | 5,404. | Mcf/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | **** | Revenue | **** | 15.00 | **** | 6.026 | ||||||||||
| GOR | **** | 161,000. | **** | 161,000. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 5.912 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 5.806 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 5.706 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: NEW167 | 12 Months in first year | ||||||||||||||||||||||||||||
| 1.417 Year Life (06/2022) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 167 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 93 |
Cawley, Gillespie & Associates, Inc.
Table 94
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS -- WADDELL WN ETAL TR A
SIMPSON (ELLENBURGER-TUBB) FIELD -- CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: RC7FJGH915 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 190 | CGA2020 01/29/2021 16:31:25 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 94 |
Cawley, Gillespie & Associates, Inc.
Table 95
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
WADDELL (WOLF-WICHITA A-TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice /BBL | Avg GasPrice /MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: 4210330754 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMB3H9HB | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 178 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 95 |
Cawley, Gillespie & Associates, Inc.
Table 96
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
WADDELL (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 5.297 | ||||||||||
| **** | 12-2022 | **** | 3.828 | ||||||||||
| **** | 12-2023 | **** | 2.716 | ||||||||||
| **** | 12-2024 | **** | 1.854 | ||||||||||
| **** | 12-2025 | **** | 1.175 | ||||||||||
| **** | 12-2026 | **** | 0.629 | ||||||||||
| **** | 12-2027 | **** | 0.185 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 15.685 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 15.685 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 870.527 | |||||||||||||||||
| Oil Rate | **** | 2,058. | **** | 652. | bbls/mo | **** | 19.5 | % | **** | 0.00 | **** | 12.2 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 799.954 |
| Gas Rate | **** | 9,261. | **** | 2,934. | Mcf/mo | **** | 19.5 | % | **** | 0.00 | **** | 12.2 | % | **** | Revenue | **** | 15.00 | **** | 740.992 | ||||||||||
| GOR | **** | 4,500. | **** | 4,500. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 691.119 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 648.468 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 611.630 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210336122 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMD441I4 | 12 Months in first year | ||||||||||||||||||||||||||||
| 7.000 Year Life (01/2028) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 179 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 96 |
Cawley, Gillespie & Associates, Inc.
Table 97
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
WADDELL (WOLF-TUBB-S ANG-MCKN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenue M | ||||
| **** | 12-2021 | **** | 0.206 | ||||||||||
| **** | 12-2022 | **** | 0.167 | ||||||||||
| **** | 12-2023 | **** | 0.131 | ||||||||||
| **** | 12-2024 | **** | 0.099 | ||||||||||
| **** | 12-2025 | **** | 0.070 | ||||||||||
| **** | 12-2026 | **** | 0.044 | ||||||||||
| **** | 12-2027 | **** | 0.020 | ||||||||||
| **** | 12-2028 | **** | 0.002 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.739 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.739 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 81.676 | |||||||||||||||||
| Gas Rate | **** | 2,291. | 1,102. | Mcf/mo | **** | 9.5 | % | **** | 0.00 | **** | 9.5 | % | **** | 4,291. | **** | 4,291. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 74.051 | |
| Oil Rate | **** | 99. | **** | 47. | bbls/mo | **** | 9.5 | % | **** | 0.00 | **** | 9.5 | % | **** | Revenue | **** | 15.00 | **** | 67.780 | ||||||||||
| Yield | **** | 43.3 | **** | 43.3 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 62.551 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 58.138 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 54.373 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210336193 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMEQJ8KI | 12 Months in first year | ||||||||||||||||||||||||||||
| 7.417 Year Life (06/2028) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 180 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 97 |
Cawley, Gillespie & Associates, Inc.
Table 98
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
WADDELL (WICHITA ALB-WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 13.689 | ||||||||||
| **** | 12-2022 | **** | 11.833 | ||||||||||
| **** | 12-2023 | **** | 10.357 | ||||||||||
| **** | 12-2024 | **** | 9.156 | ||||||||||
| **** | 12-2025 | **** | 8.160 | ||||||||||
| **** | 12-2026 | **** | 7.319 | ||||||||||
| **** | 12-2027 | **** | 6.601 | ||||||||||
| **** | 12-2028 | **** | 5.980 | ||||||||||
| **** | 12-2029 | **** | 5.438 | ||||||||||
| **** | 12-2030 | **** | 4.960 | ||||||||||
| **** | 12-2031 | **** | 4.537 | ||||||||||
| **** | 12-2032 | **** | 4.158 | ||||||||||
| **** | 12-2033 | **** | 3.818 | ||||||||||
| **** | 12-2034 | **** | 3.511 | ||||||||||
| **** | 12-2035 | **** | 3.231 | ||||||||||
| **** | S Tot | **** | 102.747 | ||||||||||
| **** | After | **** | 23.161 | ||||||||||
| **** | Total | **** | 125.908 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 6.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 5,308.290 | |||||||||||||||||
| Gas Rate | **** | 16,706. | **** | 2,493. | Mcf/mo | **** | 12.7 | % | **** | 0.00 | **** | 4.5 | % | **** | 4,291. | **** | 4,291. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 4,096.223 |
| Oil Rate | **** | 3,976. | **** | 593. | bbls/mo | **** | 12.7 | % | **** | 0.00 | **** | 4.5 | % | **** | Revenue | **** | 15.00 | **** | 3,357.820 | ||||||||||
| Yield | **** | 238. | **** | 238. | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 2,865.222 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 2,513.908 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 2,250.594 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210336184 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMII49LG | 12 Months in first year | ||||||||||||||||||||||||||||
| 32.167 Year Life (03/2053) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 181 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 98 |
Cawley, Gillespie & Associates, Inc.
Table 99
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
WADDELL (WICHITA ALBANY) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.373 | ||||||||||
| **** | 12-2022 | **** | 1.044 | ||||||||||
| **** | 12-2023 | **** | 0.794 | ||||||||||
| **** | 12-2024 | **** | 0.601 | ||||||||||
| **** | 12-2025 | **** | 0.448 | ||||||||||
| **** | 12-2026 | **** | 0.325 | ||||||||||
| **** | 12-2027 | **** | 0.225 | ||||||||||
| **** | 12-2028 | **** | 0.143 | ||||||||||
| **** | 12-2029 | **** | 0.074 | ||||||||||
| **** | 12-2030 | **** | 0.018 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 5.044 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 5.044 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 281.758 | |||||||||||||||||
| Oil Rate | **** | 462. | **** | 104. | bbls/mo | **** | 19.4 | % | **** | 0.00 | **** | 10.5 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 252.677 |
| Gas Rate | **** | 2,385. | **** | 540. | Mcf/mo | **** | 19.4 | % | **** | 0.00 | **** | 10.5 | % | **** | Revenue | **** | 15.00 | **** | 229.410 | ||||||||||
| GOR | **** | 5,150. | **** | 5,150. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 210.451 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 194.753 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 181.569 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210336361 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQMKC2ANU | 12 Months in first year | ||||||||||||||||||||||||||||
| 9.833 Year Life (10/2030) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 182 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 99 |
Cawley, Gillespie & Associates, Inc.
Table 100
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
WADDELL (MCKN-TUBB-WA-WC) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 3.659 | ||||||||||
| **** | 12-2022 | **** | 3.288 | ||||||||||
| **** | 12-2023 | **** | 2.947 | ||||||||||
| **** | 12-2024 | **** | 2.633 | ||||||||||
| **** | 12-2025 | **** | 2.344 | ||||||||||
| **** | 12-2026 | **** | 2.079 | ||||||||||
| **** | 12-2027 | **** | 1.834 | ||||||||||
| **** | 12-2028 | **** | 1.609 | ||||||||||
| **** | 12-2029 | **** | 1.402 | ||||||||||
| **** | 12-2030 | **** | 1.212 | ||||||||||
| **** | 12-2031 | **** | 1.037 | ||||||||||
| **** | 12-2032 | **** | 0.876 | ||||||||||
| **** | 12-2033 | **** | 0.727 | ||||||||||
| **** | 12-2034 | **** | 0.591 | ||||||||||
| **** | 12-2035 | **** | 0.465 | ||||||||||
| **** | S Tot | **** | 26.704 | ||||||||||
| **** | After | **** | 0.797 | ||||||||||
| **** | Total | **** | 27.501 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 3.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 1,888.592 | |||||||||||||||||
| Oil Rate | **** | 1,110. | **** | 226. | bbls/mo | **** | 8.0 | % | **** | 0.00 | **** | 8.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 1,543.527 |
| Gas Rate | **** | 13,773. | **** | 2,805. | Mcf/mo | **** | 8.0 | % | **** | 0.00 | **** | 8.0 | % | **** | Revenue | **** | 15.00 | **** | 1,304.978 | ||||||||||
| GOR | **** | 12,400. | **** | 12,400. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 1,132.374 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 1,002.671 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 902.096 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: QASEG4LG39 | 12 Months in first year | ||||||||||||||||||||||||||||
| 19.167 Year Life (03/2040) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 189 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 100 |
Cawley, Gillespie & Associates, Inc.
Table 101
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A 2044
WADDELL (MCKNIGHT-TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 2.0 | **** | 11.8 | **** | 0.296 | **** | 1.696 | |||||
| **** | 12-2022 | **** | 1.7 | **** | 9.6 | **** | 0.163 | **** | 0.927 | |||||
| **** | 12-2023 | **** | 1.4 | **** | 8.0 | **** | 0.063 | **** | 0.344 | |||||
| **** | 12-2024 | **** | 0.3 | **** | 1.8 | **** | 0.003 | **** | 0.011 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 5.4 | **** | 31.2 | 0.525 | **** | 2.978 | ||||||
| **** | After | **** | 0.0 | **** | 0.0 | 0.000 | **** | 0.000 | ||||||
| **** | Total | **** | 5.4 | **** | 31.2 | 0.525 | **** | 2.978 | ||||||
| **** | Cum | **** | 2.2 | **** | 6.5 | |||||||||
| **** | Ult | **** | 7.6 | **** | 37.7 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 32.577 | |||||||||||||||||
| Oil Rate | **** | 186. | 102.bbls/mo | **** | 19.5 | % | **** | 0.00 | **** | 15.3 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 31.147 | ||
| Gas Rate | **** | 1,078. | **** | 591. | Mcf/mo | **** | 19.5 | % | **** | 0.00 | **** | 15.3 | % | **** | Revenue | **** | 15.00 | **** | 29.872 | ||||||||||
| GOR | **** | 5,780. | **** | 5,780. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 28.727 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 27.693 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 26.756 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210336337 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: VBJHAEXB2F | 12 Months in first year | ||||||||||||||||||||||||||||
| 3.250 Year Life (04/2024) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 198 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 101 |
Cawley, Gillespie & Associates, Inc.
Table 102
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR A
WADDELL (WOLFCAMP-TUBB-SA-MCK) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 13.7 | **** | 107.0 | **** | 3.773 | **** | 29.326 | |||||
| **** | 12-2022 | **** | 11.5 | **** | 89.3 | **** | 2.954 | **** | 22.945 | |||||
| **** | 12-2023 | **** | 9.6 | **** | 74.6 | **** | 2.270 | **** | 17.616 | |||||
| **** | 12-2024 | **** | 8.0 | **** | 62.3 | **** | 1.699 | **** | 13.167 | |||||
| **** | 12-2025 | **** | 6.7 | **** | 52.0 | **** | 1.222 | **** | 9.452 | |||||
| **** | 12-2026 | **** | 5.6 | **** | 43.4 | **** | 0.824 | **** | 6.350 | |||||
| **** | 12-2027 | **** | 4.7 | **** | 36.3 | **** | 0.491 | **** | 3.760 | |||||
| **** | 12-2028 | **** | 3.9 | **** | 30.3 | **** | 0.214 | **** | 1.597 | |||||
| **** | 12-2029 | **** | 1.4 | **** | 11.1 | **** | 0.018 | **** | 0.114 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 65.0 | **** | 506.4 | **** | 13.465 | **** | 104.329 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 65.0 | **** | 506.4 | **** | 13.465 | **** | 104.329 | |||||
| **** | Cum | **** | 178.2 | **** | 931.7 | |||||||||
| **** | Ult | **** | 243.2 | **** | 1,438.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 867.329 | ||||||||||||||
| Oil Rate | **** | 1,241. | **** | 276. | bbls/mo | **** | 16.5 | % | 0.00 | 16.5% | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 783.641 |
| Gas Rate | **** | 9,672. | **** | 2,152. | Mcf/mo | **** | 16.5 | % | 0.00 | 16.5% | **** | Revenue | **** | 15.00 | **** | 715.505 | ||||||||||
| GOR | **** | 7,790. | **** | 7,790. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 659.172 | |||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 611.957 | |||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 571.901 | |||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | |||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | |||||||||||||||||||||||
| API: 4210336193 CODE: | ||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||
| PROPNUM: PBQLT55RAO | 12 Months in first year | |||||||||||||||||||||||||
| 8.417 Year Life (06/2029) | ||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 175 | CGA2020 01/29/2021 16:31:26 | ||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||
| Table 102 |
Cawley, Gillespie & Associates, Inc.
Table 103
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR A
WADDELL (TUBB-S ANGELO-MCKN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProduction<br>MMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 10.9 | **** | 65.9 | 2.769 | **** | 16.723 | |||||
| **** | 12-2022 | **** | 9.4 | **** | 57.2 | 2.250 | **** | 13.581 | |||||
| **** | 12-2023 | **** | 8.3 | **** | 50.5 | 1.853 | **** | 11.173 | |||||
| **** | 12-2024 | **** | 7.5 | **** | 45.2 | 1.538 | **** | 9.268 | |||||
| **** | 12-2025 | **** | 6.8 | **** | 41.0 | 1.283 | **** | 7.723 | |||||
| **** | 12-2026 | **** | 6.2 | **** | 37.4 | 1.072 | **** | 6.445 | |||||
| **** | 12-2027 | **** | 5.7 | **** | 34.5 | 0.895 | **** | 5.371 | |||||
| **** | 12-2028 | **** | 5.3 | **** | 31.9 | 0.744 | **** | 4.454 | |||||
| **** | 12-2029 | **** | 4.9 | **** | 29.7 | 0.613 | **** | 3.663 | |||||
| **** | 12-2030 | **** | 4.6 | **** | 27.8 | 0.499 | **** | 2.974 | |||||
| **** | 12-2031 | **** | 4.3 | **** | 26.1 | 0.399 | **** | 2.368 | |||||
| **** | 12-2032 | **** | 4.1 | **** | 24.7 | 0.311 | **** | 1.831 | |||||
| **** | 12-2033 | **** | 3.8 | **** | 23.3 | 0.232 | **** | 1.351 | |||||
| **** | 12-2034 | **** | 3.7 | **** | 22.1 | 0.161 | **** | 0.921 | |||||
| **** | 12-2035 | **** | 3.5 | **** | 21.1 | 0.096 | **** | 0.532 | |||||
| **** | S Tot | **** | 88.8 | **** | 538.4 | 14.714 | **** | 88.379 | |||||
| **** | After | **** | 3.9 | **** | 23.3 | 0.039 | **** | 0.177 | |||||
| **** | Total | **** | 92.7 | **** | 561.8 | 14.753 | **** | 88.556 | |||||
| **** | Cum | **** | 126.1 | **** | 884.3 | ||||||||
| **** | Ult | **** | 218.8 | **** | 1,446.1 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 3.0 | .0 | ||||||||
| **** | 12-2022 | **** | 3.0 | .0 | ||||||||
| **** | 12-2023 | **** | 3.0 | .0 | ||||||||
| **** | 12-2024 | **** | 3.0 | .0 | ||||||||
| **** | 12-2025 | **** | 3.0 | .0 | ||||||||
| **** | 12-2026 | **** | 3.0 | .0 | ||||||||
| **** | 12-2027 | **** | 3.0 | .0 | ||||||||
| **** | 12-2028 | **** | 3.0 | .0 | ||||||||
| **** | 12-2029 | **** | 3.0 | .0 | ||||||||
| **** | 12-2030 | **** | 3.0 | .0 | ||||||||
| **** | 12-2031 | **** | 3.0 | .0 | ||||||||
| **** | 12-2032 | **** | 3.0 | .0 | ||||||||
| **** | 12-2033 | **** | 3.0 | .0 | ||||||||
| **** | 12-2034 | **** | 3.0 | .0 | ||||||||
| **** | 12-2035 | **** | 3.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 806.301 | |||||||||||||||||
| Gas Rate | **** | 5,886. | **** | 1,626. | Mcf/mo | **** | 14.9 | % | **** | 0.00 | **** | 4.5 | % | **** | 4,291. | **** | 4,291. | $ | /w/mo | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 686.739 | |
| Oil Rate | **** | 971. | **** | 268. | bbls/mo | **** | 14.9 | % | **** | 0.00 | **** | 4.5 | % | Revenue | **** | 15.00 | **** | 599.448 | |||||||||||
| Yield | **** | 165. | **** | 165. | bbl/MMcf | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 533.421 | |||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 481.967 | |||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 440.851 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % | ||||||||||||||||||||||||||
| API: 4210336123 CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: PBQM9A72FV | 12 Months in first year | ||||||||||||||||||||||||||||
| 16.167 Year Life (03/2037) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 177 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 103 |
Cawley, Gillespie & Associates, Inc.
Table 104
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR A
WADDELL (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| Yield | **** | 0.0 | **** | 0.0 | bbl/MMcf | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: SC1MDBBP2Y | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 194 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| GAS PDP | |||||||||||||||||||||||||||||
| Table 104 |
Cawley, Gillespie & Associates, Inc.
Table 105
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR A
WADDELL RANCH (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross Oil<br>Production | Gross Gas<br>Production | Net Oil<br><br><br>Production | Net Gas<br>Sales | Avg Oil<br>Price | Avg Gas<br>Price | Oil<br>Revenue | Gas<br>Revenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | |||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % | ||||||||||||||||||||||||||
| API: CODE: | |||||||||||||||||||||||||||||
| --- | --- | ||||||||||||||||||||||||||||
| PROPNUM: RC7FNH6D51 | 12 Months in first year | ||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 191 | CGA2020 01/29/2021 16:31:26 | |||||||||||||||||||||||||||
| --- | --- | --- | |||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||||||||||||||||||||||
| OIL PDP | |||||||||||||||||||||||||||||
| Table 105 |
Cawley, Gillespie & Associates, Inc.
Table 106
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR A
WADDELL RANCH (SAN ANGELO) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.107 | ||||||||||
| **** | 12-2022 | **** | 1.702 | ||||||||||
| **** | 12-2023 | **** | 1.362 | ||||||||||
| **** | 12-2024 | **** | 1.074 | ||||||||||
| **** | 12-2025 | **** | 0.826 | ||||||||||
| **** | 12-2026 | **** | 0.611 | ||||||||||
| **** | 12-2027 | **** | 0.423 | ||||||||||
| **** | 12-2028 | **** | 0.257 | ||||||||||
| **** | 12-2029 | **** | 0.109 | ||||||||||
| **** | 12-2030 | **** | 0.006 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 8.477 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 8.477 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 6.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 562.480 | ||||||||||||||||||
| Oil Rate | **** | 1,056. | **** | 525. | **** | bbls/mo | **** | 10.0 | % | **** | 0.00 | **** | 5.5 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 502.071 |
| Gas Rate | **** | 9,373. | **** | 4,657. | **** | Mcf/mo | **** | 10.0 | % | **** | 0.00 | **** | 5.5 | % | **** | Revenue | **** | 15.00 | **** | 453.791 | ||||||||||
| GOR | **** | 8,870. | **** | 8,850. | **** | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 414.516 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 382.063 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | **** | % | **** | 30.00 | **** | 354.874 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | **** | % | ||||||||||||||||||||||||||
| API: 4210335665 CODE: | ||||||||||||||||||||||||||||||
| PROPNUM: PBQM2R7ACI | **** | 12 | **** | Months in first year | ||||||||||||||||||||||||||
| **** | 9.250 Year Life (04/2030) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 176 | CGA2020 01/29/2021 16:31:26 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 106 |
Cawley, Gillespie & Associates, Inc.
Table 107
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR C
WADDELL RANCH (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.805 | ||||||||||
| **** | 12-2022 | **** | 0.604 | ||||||||||
| **** | 12-2023 | **** | 0.452 | ||||||||||
| **** | 12-2024 | **** | 0.335 | ||||||||||
| **** | 12-2025 | **** | 0.240 | ||||||||||
| **** | 12-2026 | **** | 0.163 | ||||||||||
| **** | 12-2027 | **** | 0.099 | ||||||||||
| **** | 12-2028 | **** | 0.045 | ||||||||||
| **** | 12-2029 | **** | 0.005 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 2.749 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 2.749 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 125.821 | ||||||||||||||||||
| Oil Rate | **** | 340. | **** | 129. | **** | bbls/mo | **** | 16.6 | % | **** | 0.00 | **** | 7.4 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 113.898 |
| Gas Rate | **** | 548. | **** | 208. | **** | Mcf/mo | **** | 16.6 | % | **** | 0.00 | **** | 7.4 | % | **** | Revenue | **** | 15.00 | **** | 104.189 | ||||||||||
| GOR | **** | 1,610. | **** | 1,610. | **** | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 96.157 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 89.421 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | **** | % | **** | 30.00 | **** | 83.702 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | **** | % | ||||||||||||||||||||||||||
| API: CODE: | ||||||||||||||||||||||||||||||
| PROPNUM: RC7FP1WD60 | **** | 12 Months in first year | ||||||||||||||||||||||||||||
| **** | 8.500 Year Life (07/2029) | |||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 192 | CGA2020 01/29/2021 16:31:26 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 107 |
Cawley, Gillespie & Associates, Inc.
Table 108
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR A
WADDELL WEST (MCELROY-SAN ANGELO) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross Oil<br>Production<br>MBBLS | Gross Gas<br>Production<br>MMCF | Net Oil<br>Production<br>MBBLS | Net Gas<br>Sales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2022 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2023 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2024 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2025 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2026 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2027 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2028 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2029 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2030 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2031 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2032 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2033 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Cum | **** | 4.2 | **** | 0.0 | |||||||||
| **** | Ult | **** | 4.2 | **** | 0.0 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | ||||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | **** | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | **** | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | **** | scf/bbl | **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | **** | % | **** | 30.00 | **** | 0.000 | ||||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | **** | % | ||||||||||||||||||||||||||
| API: CODE: | ||||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||||
| PROPNUM: NEWYE2013170 | 12 Months in first year | |||||||||||||||||||||||||||||
| 0.000 Year Life (01/2021) | ||||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 170 | CGA2020 01/29/2021 16:31:26 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 108 |
Cawley, Gillespie & Associates, Inc.
Table 109
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN TR A
WADDELL WEST (TUBB-S ANGELO-MCKN) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross Oil<br>Production<br>MBBLS | Gross Gas<br>Production<br>MMCF | Net Oil<br>Production<br>MBBLS | Net Gas<br>Sales<br>MMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||||
| **** | 12-2021 | **** | 77.9 | **** | 429.2 | **** | 18.355 | **** | 100.750 | |||||
| **** | 12-2022 | **** | 69.4 | **** | 382.6 | **** | 15.298 | **** | 83.905 | |||||
| **** | 12-2023 | **** | 62.4 | **** | 343.9 | **** | 12.766 | **** | 69.950 | |||||
| **** | 12-2024 | **** | 56.5 | **** | 311.5 | **** | 10.639 | **** | 58.233 | |||||
| **** | 12-2025 | **** | 51.5 | **** | 284.0 | **** | 8.833 | **** | 48.277 | |||||
| **** | 12-2026 | **** | 47.2 | **** | 260.3 | **** | 7.282 | **** | 39.731 | |||||
| **** | 12-2027 | **** | 43.5 | **** | 239.8 | **** | 5.938 | **** | 32.327 | |||||
| **** | 12-2028 | **** | 40.3 | **** | 222.0 | **** | 4.765 | **** | 25.863 | |||||
| **** | 12-2029 | **** | 37.4 | **** | 206.2 | **** | 3.730 | **** | 20.158 | |||||
| **** | 12-2030 | **** | 34.8 | **** | 191.7 | **** | 2.783 | **** | 14.942 | |||||
| **** | 12-2031 | **** | 32.4 | **** | 178.3 | **** | 1.903 | **** | 10.091 | |||||
| **** | 12-2032 | **** | 30.1 | **** | 165.8 | **** | 1.084 | **** | 5.579 | |||||
| **** | 12-2033 | **** | 25.7 | **** | 141.8 | **** | 0.324 | **** | 1.421 | |||||
| **** | 12-2034 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | 12-2035 | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | S Tot | **** | 609.1 | **** | 3,357.1 | **** | 93.701 | **** | 511.227 | |||||
| **** | After | **** | 0.0 | **** | 0.0 | **** | 0.000 | **** | 0.000 | |||||
| **** | Total | **** | 609.1 | **** | 3,357.1 | **** | 93.701 | **** | 511.227 | |||||
| **** | Cum | **** | 963.3 | **** | 5,127.8 | |||||||||
| **** | Ult | **** | 1,572.4 | **** | 8,484.9 |
All values are in US Dollars.
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| Net | ||||||||||||
| **** | 12-2021 | **** | 22.0 | .0 | ||||||||
| **** | 12-2022 | **** | 22.0 | .0 | ||||||||
| **** | 12-2023 | **** | 22.0 | .0 | ||||||||
| **** | 12-2024 | **** | 22.0 | .0 | ||||||||
| **** | 12-2025 | **** | 22.0 | .0 | ||||||||
| **** | 12-2026 | **** | 22.0 | .0 | ||||||||
| **** | 12-2027 | **** | 22.0 | .0 | ||||||||
| **** | 12-2028 | **** | 22.0 | .0 | ||||||||
| **** | 12-2029 | **** | 22.0 | .0 | ||||||||
| **** | 12-2030 | **** | 22.0 | .0 | ||||||||
| **** | 12-2031 | **** | 22.0 | .0 | ||||||||
| **** | 12-2032 | **** | 22.0 | .0 | ||||||||
| **** | 12-2033 | **** | 22.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent Interests | Percent | Cum. Disc. | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 5,081.008 | ||||||||||||||||||
| Oil Rate | **** | 6,854. | **** | 2,268. | **** | bbls/mo | **** | 11.7 | % | **** | 0.00 | **** | 7.0 | % | **** | 4,799. | **** | 4,799. | $ | /w/mo | **** | Expense | **** | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 4,386.620 |
| Gas Rate | **** | 37,780. | **** | 12,504. | **** | Mcf/mo | **** | 11.7 | % | **** | 0.00 | **** | 7.0 | % | **** | Revenue | **** | 15.00 | **** | 3,862.818 | ||||||||||
| GOR | **** | 5,510. | **** | 5,510. | **** | scf/bbl | **** | Oil | **** | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 3,456.909 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | **** | % | **** | Gas | **** | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 3,314.708 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | **** | % | **** | 30.00 | **** | 2,873.704 | ||||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | **** | % | ||||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | **** | % | ||||||||||||||||||||||||||
| API: CODE: | ||||||||||||||||||||||||||||||
| --- | --- | |||||||||||||||||||||||||||||
| PROPNUM: NEWYE2013171 | 12 Months in first year | |||||||||||||||||||||||||||||
| 12.917 Year Life (12/2033) | ||||||||||||||||||||||||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 171 | CGA2020 01/29/2021 16:31:26 | ||||||||||||||||||||||||||||
| --- | --- | --- | ||||||||||||||||||||||||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||||||||||||||||||||||||||||||
| OIL PDP | ||||||||||||||||||||||||||||||
| Table 109 |
Cawley, Gillespie & Associates, Inc.
Table 110
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Producing Reserves
CONOCOPHILLIPS — WADDELL WN ETAL TR I 620
Y SOUTH (TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Initial | Final | 5.00 | 0.000 | ||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 0. | **** | 0. | **** | /w/mo | Expense | **** | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 0.000 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | Revenue | **** | 15.00 | **** | 0.000 | ||||||||||
| GOR | **** | 0. | **** | 0. | scf/bbl | Oil | **** | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 0.000 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | **** | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 0.000 | ||||||||||||||
| Oil Severance | **** | 0.0 | **** | 0.0 | % | **** | 30.00 | **** | 0.000 | |||||||||||||||||||
| Gas Severance | **** | 0.0 | **** | 0.0 | % | |||||||||||||||||||||||
| Ad Valorem | **** | 0.0 | % |
All values are in US Dollars.
| API: 4210302069 CODE: 100,103, | ||
|---|---|---|
| PROPNUM: L8BFQGEB00 | 12 Months in first year | |
| 0.000 Year Life (01/2021) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 101 | CGA2020 01/29/2021 16:31:26 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PDP | ||
| Table 110 |
Cawley, Gillespie & Associates, Inc.
Table I - PDNP
Composite of Reserve Estimates and Economic Forecasts
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Non-Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -18.209 | ||||||||||
| **** | 12-2022 | **** | 12.540 | ||||||||||
| **** | 12-2023 | **** | 10.443 | ||||||||||
| **** | 12-2024 | **** | 8.949 | ||||||||||
| **** | 12-2025 | **** | 7.830 | ||||||||||
| **** | 12-2026 | **** | 6.960 | ||||||||||
| **** | 12-2027 | **** | 6.250 | ||||||||||
| **** | 12-2028 | **** | 5.624 | ||||||||||
| **** | 12-2029 | **** | 5.062 | ||||||||||
| **** | 12-2030 | **** | 4.556 | ||||||||||
| **** | 12-2031 | **** | 4.100 | ||||||||||
| **** | 12-2032 | **** | 3.690 | ||||||||||
| **** | 12-2033 | **** | 3.322 | ||||||||||
| **** | 12-2034 | **** | 2.989 | ||||||||||
| **** | 12-2035 | **** | 2.690 | ||||||||||
| **** | S Tot | **** | 66.797 | ||||||||||
| **** | After | **** | 22.572 | ||||||||||
| **** | Total | **** | 89.368 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| SEC 12-31-2020 Benchmark Prices | Percent | Cum. Disc. | |||||
|---|---|---|---|---|---|---|---|
| WTI Spot | Henry Hub | 5.00 | 1,070.7 | ||||
| Year | Oil /STB | Gas /MMBTU | 10.00 | 396.8 | |||
| **** | 2021 | **** | 15.00 | **** | -1.3 | ||
| **** | Thereafter | **** | 20.00 | **** | -259.6 | ||
| **** | Cap | **** | 25.00 | **** | -438.0 | ||
| **** | 30.00 | **** | -566.6 |
All values are in US Dollars.
| 12 Months in first year | |
|---|---|
| 40.917 Year Life (12/2061) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO<br>THE CONDITIONS IN THE TEXT OF THE REPORT. | 01/29/2021 16:31:27 |
| --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |
| Summary |
Cawley, Gillespie & Associates, Inc.
Table II - PDNP
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Non-Producing Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start | Current<br><br><br>Interest | WellCntLife | UltimateRecovery | GrossReserves | Net<br><br><br>Reserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | Expenses<br>Investments | Future Net<br>Cash Flow | Cash Flow<br>Disc.@ 10.0 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL / MMCF | M / M | M / M | M / M | M | M | ||||||||||
| WADDELL (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN EAST RANCH | 37.5000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 1 | PDNP | Oil | 01/21 | 108 | 37.5000 WI | **** | 0.9 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| SAND HILLS (SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 319.3 | **** | 319.3 | **** | 89.4 | |||||||||||||
| 2 | PDNP | Oil | 02/21 | 17 | 50.0000 WI | **** | 40.8 | **** | 550.8 | **** | 550.8 | **** | 136.1 | |||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 3 | PDNP | Oil | 01/21 | 163 | 50.0000 WI | **** | 0.9 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL WEST | 50.0000 NI | **** | 0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||
| 4 | PDNP | Oil | 01/21 | 109 | 50.0000 WI | **** | 0.9 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| GRAND TOTAL | **** | 0 | **** | 319.3 | **** | 319.3 | **** | 89.4 | ||||||||||||||
| **** | 550.8 | **** | 550.8 | **** | 136.1 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 | 1/29/2021 : 4:39:14 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. |
Cawley, Gillespie & Associates, Inc.
Page 1
Rate-Time History-Forecast Curves
And
TabularReserves and Economics
By Property
Cawley, Gillespie & Associates, Inc.
Petroleum Consultants
Table 1
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Non-Producing Reserves
BLACKBEARD OPERATING — WADDELL WN EEAST RANCH
WADDELL (GRAYBURG SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | -274.114 | ||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 3,561. | **** | 3,561. | **** | /w/mo | Expense | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | -267.886 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 62,412. | **** | 62,412. | **** | /mo | Revenue | **** | 15.00 | **** | -262.111 | |||
| GOR | **** | 0. | **** | 0. | scf/bbl | Oil | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | -256.738 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | -251.723 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | -247.029 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: MIN CODE: 100,103, | ||
|---|---|---|
| PROPNUM: L8BFQGNC00 | 12 Months in year ‘21 | |
| Start Date: 01/2021 | 1.000 Year Life (12/2021) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 108 | CGA2020 01/29/2021 16:31:26 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PDNP | ||
| Table 1 |
Cawley, Gillespie & Associates, Inc.
Table 2
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Non-Producing Reserves
BLACKKBEARD OPERATING — WADDELL WN ETAL TR A
SAND HILLS (SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | -18.209 | ||||||||||
| **** | 12-2022 | **** | 12.540 | ||||||||||
| **** | 12-2023 | **** | 10.443 | ||||||||||
| **** | 12-2024 | **** | 8.949 | ||||||||||
| **** | 12-2025 | **** | 7.830 | ||||||||||
| **** | 12-2026 | **** | 6.960 | ||||||||||
| **** | 12-2027 | **** | 6.250 | ||||||||||
| **** | 12-2028 | **** | 5.624 | ||||||||||
| **** | 12-2029 | **** | 5.062 | ||||||||||
| **** | 12-2030 | **** | 4.556 | ||||||||||
| **** | 12-2031 | **** | 4.100 | ||||||||||
| **** | 12-2032 | **** | 3.690 | ||||||||||
| **** | 12-2033 | **** | 3.322 | ||||||||||
| **** | 12-2034 | **** | 2.989 | ||||||||||
| **** | 12-2035 | **** | 2.690 | ||||||||||
| **** | S Tot | **** | 66.797 | ||||||||||
| **** | After | **** | 22.572 | ||||||||||
| **** | Total | **** | 89.368 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 2,759.101 | ||||||||||||||||
| Oil Rate | **** | 895. | **** | 10. | bbls/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | **** | 3,452. | **** | 3,452. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 1,830.170 |
| Gas Rate | **** | 2,192. | **** | 10. | Mcf/mo | **** | 23.3 | % | **** | 0.00 | **** | 10.1 | % | Revenue | **** | 15.00 | **** | 1,271.014 | |||||||||
| GOR | **** | 2,440. | **** | 1,000. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 900.159 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 637.625 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 442.984 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: CGA173008 | ||
|---|---|---|
| PROPNUM: L8BFQD1C00 | 11 Months in year ‘21 | |
| Start Date: 02/2021 | 40.834 Year Life (12/2061) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 17 | CGA2020 01/29/2021 16:31:26 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PDNP | ||
| Table 2 |
Cawley, Gillespie & Associates, Inc.
Table 3
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Non-Producing Reserves
BLACKKBEARD OPERATING — WADDELL WN ETAL TR A
SAND HILLS (SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net Oil<br>Production<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | -901.620 | ||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 4,552. | **** | 4,552. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | -880.990 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 62,412. | **** | 62,412. | **** | /mo | Revenue | **** | 15.00 | **** | -861.776 | |||
| GOR | **** | 0. | **** | 0. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | -843.825 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | -827.006 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | -811.205 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: CGA103163 | ||
|---|---|---|
| PROPNUM: N1GKDPUE5R | 12 Months in year ‘21 | |
| Start Date: 01/2021 | 1.000 Year Life (12/2021) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 163 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PDNP | ||
| Table 3 |
Cawley, Gillespie & Associates, Inc.
Table 4
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Developed Non-Producing Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL WEST RANCH
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.000 | |||||||||
| **** | 12-2022 | **** | 0.000 | |||||||||
| **** | 12-2023 | **** | 0.000 | |||||||||
| **** | 12-2024 | **** | 0.000 | |||||||||
| **** | 12-2025 | **** | 0.000 | |||||||||
| **** | 12-2026 | **** | 0.000 | |||||||||
| **** | 12-2027 | **** | 0.000 | |||||||||
| **** | 12-2028 | **** | 0.000 | |||||||||
| **** | 12-2029 | **** | 0.000 | |||||||||
| **** | 12-2030 | **** | 0.000 | |||||||||
| **** | 12-2031 | **** | 0.000 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.000 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.000 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End<br>Mo-Year | ProductionTaxesM | Ad ValoremTaxesM | Wells<br>Gross Net<br>Count | OperatingExpenseM | OtherDeductionsM | InvestmentM | Future NetCash FlowM | CumulativeCash FlowM | Cum.Cash FlowDisc.@ 10.0%M | |||
| **** | 12-2021 | **** | 0.0 | .0 | ||||||||
| **** | 12-2022 | **** | 0.0 | .0 | ||||||||
| **** | 12-2023 | **** | 0.0 | .0 | ||||||||
| **** | 12-2024 | **** | 0.0 | .0 | ||||||||
| **** | 12-2025 | **** | 0.0 | .0 | ||||||||
| **** | 12-2026 | **** | 0.0 | .0 | ||||||||
| **** | 12-2027 | **** | 0.0 | .0 | ||||||||
| **** | 12-2028 | **** | 0.0 | .0 | ||||||||
| **** | 12-2029 | **** | 0.0 | .0 | ||||||||
| **** | 12-2030 | **** | 0.0 | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | .0 | ||||||||
| **** | S Tot | |||||||||||
| **** | After | |||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | -155.713 | ||||||||||||||||
| Oil Rate | **** | 0. | **** | 0. | bbls/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 3,561. | **** | 3,561. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | -152.175 |
| Gas Rate | **** | 0. | **** | 0. | Mcf/mo | **** | 0.0 | % | **** | 0.00 | **** | 0.0 | % | **** | 26,590. | **** | 26,590. | **** | /mo | Revenue | **** | 15.00 | **** | -148.895 | |||
| GOR | **** | 0. | **** | 0. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | -145.843 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | -142.994 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | -140.327 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: MIN CODE: | ||
|---|---|---|
| PROPNUM: L8BFQGPC00 | 12 Months in year ‘21 | |
| Start Date: 01/2021 1.000 Year Life (12/2021) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 109 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PDNP | ||
| Table 4 |
Cawley, Gillespie & Associates, Inc.
Table I - PUD
Composite of Reserve Estimates and Economic Forecasts
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -414.113 | ||||||||||
| **** | 12-2022 | **** | 196.065 | ||||||||||
| **** | 12-2023 | **** | 156.044 | ||||||||||
| **** | 12-2024 | **** | 127.431 | ||||||||||
| **** | 12-2025 | **** | 105.912 | ||||||||||
| **** | 12-2026 | **** | 89.106 | ||||||||||
| **** | 12-2027 | **** | 75.361 | ||||||||||
| **** | 12-2028 | **** | 63.252 | ||||||||||
| **** | 12-2029 | **** | 52.342 | ||||||||||
| **** | 12-2030 | **** | 42.585 | ||||||||||
| **** | 12-2031 | **** | 34.434 | ||||||||||
| **** | 12-2032 | **** | 27.227 | ||||||||||
| **** | 12-2033 | **** | 20.729 | ||||||||||
| **** | 12-2034 | **** | 14.866 | ||||||||||
| **** | 12-2035 | **** | 9.675 | ||||||||||
| **** | S Tot | **** | 600.916 | ||||||||||
| **** | After | **** | 14.394 | ||||||||||
| **** | Total | **** | 615.310 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 39.8 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 91.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 75.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 75.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 75.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 75.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 71.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| SEC 12-31-2020 Benchmark Prices | Percent | Cum. Disc. | ||||||
|---|---|---|---|---|---|---|---|---|
| Year | WTI SpotOil /STB | Henry HubGas /MMBTU | 5.00 | 15,986.4 | ||||
| 10.00 | 10,239.5 | **** | ||||||
| 2021 | **** | 15.00 | **** | 6,185.9 | ||||
| Thereafter | **** | 20.00 | **** | 3,220.6 | ||||
| Cap | **** | 25.00 | **** | 986.4 | ||||
| **** | 30.00 | **** | -738.1 |
All values are in US Dollars.
| 12 Months in first year | |
|---|---|
| 27.917 Year Life (12/2048) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | 01/29/2021 16:31:27 |
| --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |
| Summary |
Cawley, Gillespie & Associates, Inc.
Table II - PUD
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
Certain Crane County, Texas Properties
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | WellCntLife | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | ||||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 13 | **** | 317.7 | **** | 317.7 | **** | 31.7 | |||||||||||||
| 1 | PUD | Oil | 02/21 | 29 | 50.0000 WI | **** | 9.4 | **** | 752.7 | **** | 752.7 | **** | 73.3 | |||||||||
| SAND HILLS — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR I | 40.6250 NI | **** | 4 | **** | 177.0 | **** | 177.0 | **** | 16.4 | |||||||||||||
| 2 | PUD | Oil | 11/21 | 141 | 40.6250 WI | **** | 13.1 | **** | 433.7 | **** | 433.7 | **** | 39.5 | |||||||||
| WADDELL WN ETAL WEST | 50.0000 NI | **** | 3 | **** | 82.2 | **** | 82.2 | **** | 13.2 | |||||||||||||
| 3 | PUD | Oil | 02/21 | 162 | 50.0000 WI | **** | 9.5 | **** | 201.3 | **** | 201.3 | **** | 32.0 | |||||||||
| SAND HILLS (WOLFCAMP) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN ETAL TR A | 50.0000 NI | **** | 64 | **** | 4,101.7 | **** | 4,101.7 | **** | 463.9 | |||||||||||||
| 4 | PUD | Oil | 02/21 | 58 | 50.0000 WI | **** | 16.1 | **** | 9,721.7 | **** | 9,721.7 | **** | 1,063.9 | |||||||||
| WADDELL WN ETAL TR AB | 25.0000 NI | **** | 1 | **** | 66.2 | **** | 66.2 | **** | 4.7 | |||||||||||||
| 5 | PUD | Oil | 06/21 | 60 | 25.0000 WI | **** | 15.9 | **** | 153.9 | **** | 153.9 | **** | 10.7 | |||||||||
| WADDELL WN ETAL TR H | 50.0000 NI | **** | 1 | **** | 66.2 | **** | 66.2 | **** | 9.1 | |||||||||||||
| 6 | PUD | Oil | 10/21 | 70 | 50.0000 WI | **** | 15.9 | **** | 153.9 | **** | 153.9 | **** | 20.5 | |||||||||
| WADDELL WN ETAL TR D | 50.0000 NI | **** | 1 | **** | 66.2 | **** | 66.2 | **** | 9.1 | |||||||||||||
| 7 | PUD | Oil | 09/21 | 18 | 50.0000 WI | **** | 15.9 | **** | 153.5 | **** | 153.5 | **** | 20.4 | |||||||||
| WADDELL (GRAYBURG SAN ANDRES) — CRANE COUNTY, TEXAS | ||||||||||||||||||||||
| WADDELL WN TR 1 | 37.5000 NI | **** | 2 | **** | 214.9 | **** | 214.9 | **** | 33.7 | |||||||||||||
| 8 | PUD | Oil | 03/21 | 147 | 37.5000 WI | **** | 27.7 | **** | 214.9 | **** | 214.9 | **** | 33.5 | |||||||||
| WADDELL WN TR 3 | 37.5000 NI | **** | 2 | **** | 214.9 | **** | 214.9 | **** | 33.7 | |||||||||||||
| 9 | PUD | Oil | 03/21 | 83 | 37.5000 WI | **** | 27.7 | **** | 214.9 | **** | 214.9 | **** | 33.5 | |||||||||
| GRAND TOTAL | **** | 91 | **** | 5,307.1 | **** | 5,307.1 | **** | 615.3 | ||||||||||||||
| **** | 12,000.6 | **** | 12,000.6 | **** | 1,327.4 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: CGA2020 1/29/2021 : 4:39:14 PM |
|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |
| Cawley, Gillespie & Associates, Inc. | |
| Page 1 |
Rate-Time History-Forecast Curves
And
TabularReserves and Economics
By Property
Cawley, Gillespie & Associates, Inc.
Petroleum Consultants
Table 1
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL TR A
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -11.323 | ||||||||||
| **** | 12-2022 | **** | 12.477 | ||||||||||
| **** | 12-2023 | **** | 9.225 | ||||||||||
| **** | 12-2024 | **** | 6.905 | ||||||||||
| **** | 12-2025 | **** | 5.165 | ||||||||||
| **** | 12-2026 | **** | 3.809 | ||||||||||
| **** | 12-2027 | **** | 2.702 | ||||||||||
| **** | 12-2028 | **** | 1.726 | ||||||||||
| **** | 12-2029 | **** | 0.847 | ||||||||||
| **** | 12-2030 | **** | 0.123 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 31.656 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 31.656 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 6.2 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 13.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 1,360.106 | ||||||||||||||||
| Oil Rate | **** | 1,385. | **** | 1,616. | bbls/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | **** | 4,799. | **** | 4,799. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 1,098.780 |
| Gas Rate | **** | 3,393. | **** | 3,655. | Mcf/mo | **** | 22.4 | % | **** | 0.00 | **** | 10.8 | % | Revenue | **** | 15.00 | **** | 893.073 | |||||||||
| GOR | **** | 2,440. | **** | 2,260. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 728.334 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 594.388 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 484.010 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: | ||
|---|---|---|
| PROPNUM: | 11 Months in year ’21 | |
| Start Date: 02/2021 9.500 Year Life (07/2030) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 29 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 1 |
Cawley, Gillespie & Associates, Inc.
Table 2
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL TR I
SAND HILLS FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -11.643 | ||||||||||
| **** | 12-2022 | **** | 6.158 | ||||||||||
| **** | 12-2023 | **** | 4.758 | ||||||||||
| **** | 12-2024 | **** | 3.781 | ||||||||||
| **** | 12-2025 | **** | 3.060 | ||||||||||
| **** | 12-2026 | **** | 2.506 | ||||||||||
| **** | 12-2027 | **** | 2.066 | ||||||||||
| **** | 12-2028 | **** | 1.686 | ||||||||||
| **** | 12-2029 | **** | 1.345 | ||||||||||
| **** | 12-2030 | **** | 1.037 | ||||||||||
| **** | 12-2031 | **** | 0.761 | ||||||||||
| **** | 12-2032 | **** | 0.512 | ||||||||||
| **** | 12-2033 | **** | 0.288 | ||||||||||
| **** | 12-2034 | **** | 0.087 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 16.402 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 16.402 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 4.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 620.718 | ||||||||||||||||
| Oil Rate | **** | 2,573. | **** | 490. | bbls/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | **** | 4,799. | **** | 4,799. | **** | /w/mo | Expense | 40.6250 | **** | 40.6250 | **** | 10.00 | **** | 435.305 |
| Gas Rate | **** | 6,304. | **** | 1,200. | Mcf/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | Revenue | **** | 15.00 | **** | 301.481 | |||||||||
| GOR | **** | 2,450. | **** | 2,450. | scf/bbl | Oil | 40.6250 | **** | 40.6250 | **** | 20.00 | **** | 202.389 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 40.6250 | **** | 40.6250 | **** | 25.00 | **** | 127.414 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 69.644 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: | ||
|---|---|---|
| PROPNUM: L8BFQHHC00 | 2 Months in year ‘21 | |
| Start Date: 11/2021 13.167 Year Life (12/2034) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 141 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 2 |
Cawley, Gillespie & Associates, Inc.
Table 3
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL WEST RANCH
SAND HILLS FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.640 | ||||||||||
| **** | 12-2022 | **** | 3.186 | ||||||||||
| **** | 12-2023 | **** | 2.291 | ||||||||||
| **** | 12-2024 | **** | 1.678 | ||||||||||
| **** | 12-2025 | **** | 1.233 | ||||||||||
| **** | 12-2026 | **** | 0.894 | ||||||||||
| **** | 12-2027 | **** | 0.628 | ||||||||||
| **** | 12-2028 | **** | 0.405 | ||||||||||
| **** | 12-2029 | **** | 0.205 | ||||||||||
| **** | 12-2030 | **** | 0.035 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 13.194 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 13.194 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 3.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 0.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 0.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 623.400 | |||||||||||||||
| Oil Rate | **** | 789. | **** | 368. | bbls/mo | **** | NA | **** | 0.00 | **** | 10.0 | % | **** | 4,799. | **** | 4,799. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 552.993 |
| Gas Rate | **** | 1,933. | **** | 902. | Mcf/mo | **** | NA | **** | 0.00 | **** | 10.0 | % | Revenue | **** | 15.00 | **** | 496.518 | |||||||||
| GOR | **** | 2,450. | **** | 2,450. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 450.392 | |||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 412.117 | |||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 379.908 | |||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | |||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: CGA103162 | ||
|---|---|---|
| PROPNUM: N1GK26EC4S | 11 Months in year ‘21 | |
| Start Date: 02/2021 9.584 Year Life (09/2030) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 162 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 3 |
Cawley, Gillespie & Associates, Inc.
Table 4
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL TR A
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -374.839 | ||||||||||
| **** | 12-2022 | **** | 159.931 | ||||||||||
| **** | 12-2023 | **** | 127.470 | ||||||||||
| **** | 12-2024 | **** | 104.327 | ||||||||||
| **** | 12-2025 | **** | 86.982 | ||||||||||
| **** | 12-2026 | **** | 73.491 | ||||||||||
| **** | 12-2027 | **** | 62.480 | ||||||||||
| **** | 12-2028 | **** | 52.781 | ||||||||||
| **** | 12-2029 | **** | 44.050 | ||||||||||
| **** | 12-2030 | **** | 36.189 | ||||||||||
| **** | 12-2031 | **** | 29.112 | ||||||||||
| **** | 12-2032 | **** | 22.739 | ||||||||||
| **** | 12-2033 | **** | 17.000 | ||||||||||
| **** | 12-2034 | **** | 11.833 | ||||||||||
| **** | 12-2035 | **** | 7.179 | ||||||||||
| **** | S Tot | **** | 460.723 | ||||||||||
| **** | After | **** | 3.129 | ||||||||||
| **** | Total | **** | 463.852 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 19.6 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 64.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 64.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 15,692.103 | ||||||||||||||||
| Oil Rate | **** | 13,856. | **** | 8,009. | bbls/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | **** | 4,799. | **** | 4,799. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 9,452.087 |
| Gas Rate | **** | 33,939. | **** | 17,884. | Mcf/mo | **** | 22.2 | % | **** | 0.00 | **** | 10.5 | % | Revenue | **** | 15.00 | **** | 5,031.361 | |||||||||
| GOR | **** | 2,440. | **** | 2,230. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 1,794.227 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | -642.642 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | -2,520.038 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: | ||
|---|---|---|
| PROPNUM: | 11 Months in year ‘21 | |
| Start Date: 02/2021 16.167 Year Life (03/2037) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 58 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 4 |
Cawley, Gillespie & Associates, Inc.
Table 5
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL TR AB
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -2.035 | ||||||||||
| **** | 12-2022 | **** | 1.275 | ||||||||||
| **** | 12-2023 | **** | 1.020 | ||||||||||
| **** | 12-2024 | **** | 0.837 | ||||||||||
| **** | 12-2025 | **** | 0.700 | ||||||||||
| **** | 12-2026 | **** | 0.593 | ||||||||||
| **** | 12-2027 | **** | 0.505 | ||||||||||
| **** | 12-2028 | **** | 0.427 | ||||||||||
| **** | 12-2029 | **** | 0.357 | ||||||||||
| **** | 12-2030 | **** | 0.295 | ||||||||||
| **** | 12-2031 | **** | 0.238 | ||||||||||
| **** | 12-2032 | **** | 0.186 | ||||||||||
| **** | 12-2033 | **** | 0.140 | ||||||||||
| **** | 12-2034 | **** | 0.099 | ||||||||||
| **** | 12-2035 | **** | 0.062 | ||||||||||
| **** | S Tot | **** | 4.699 | ||||||||||
| **** | After | **** | 0.030 | ||||||||||
| **** | Total | **** | 4.729 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 1.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 177.290 | ||||||||||||||||
| Oil Rate | **** | 890. | **** | 125. | bbls/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | **** | 4,799. | **** | 4,799. | **** | /w/mo | Expense | 25.0000 | **** | 25.0000 | **** | 10.00 | **** | 125.422 |
| Gas Rate | **** | 2,181. | **** | 263. | Mcf/mo | **** | 22.4 | % | **** | 0.00 | **** | 11.0 | % | Revenue | **** | 15.00 | **** | 88.446 | |||||||||
| GOR | **** | 2,440. | **** | 2,090. | scf/bbl | Oil | 25.0000 | **** | 25.0000 | **** | 20.00 | **** | 61.166 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 25.0000 | **** | 25.0000 | **** | 25.00 | **** | 40.454 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 24.347 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: | ||
|---|---|---|
| PROPNUM: | 7 Months in year ‘21 | |
| Start Date: 06/2021 16.000 Year Life (06/2037) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 60 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 5 |
Cawley, Gillespie & Associates, Inc.
Table 6
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL TR H
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -5.457 | ||||||||||
| **** | 12-2022 | **** | 2.768 | ||||||||||
| **** | 12-2023 | **** | 2.190 | ||||||||||
| **** | 12-2024 | **** | 1.784 | ||||||||||
| **** | 12-2025 | **** | 1.484 | ||||||||||
| **** | 12-2026 | **** | 1.251 | ||||||||||
| **** | 12-2027 | **** | 1.066 | ||||||||||
| **** | 12-2028 | **** | 0.905 | ||||||||||
| **** | 12-2029 | **** | 0.760 | ||||||||||
| **** | 12-2030 | **** | 0.629 | ||||||||||
| **** | 12-2031 | **** | 0.512 | ||||||||||
| **** | 12-2032 | **** | 0.406 | ||||||||||
| **** | 12-2033 | **** | 0.311 | ||||||||||
| **** | 12-2034 | **** | 0.225 | ||||||||||
| **** | 12-2035 | **** | 0.147 | ||||||||||
| **** | S Tot | **** | 8.980 | ||||||||||
| **** | After | **** | 0.094 | ||||||||||
| **** | Total | **** | 9.075 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 1.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 328.584 | ||||||||||||||||
| Oil Rate | **** | 890. | **** | 125. | bbls/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | **** | 4,799. | **** | 4,799. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 223.419 |
| Gas Rate | **** | 2,181. | **** | 263. | Mcf/mo | **** | 22.4 | % | **** | 0.00 | **** | 11.0 | % | Revenue | **** | 15.00 | **** | 149.900 | |||||||||
| GOR | **** | 2,440. | **** | 2,090. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 96.774 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | **** | 25.00 | **** | 57.318 | ||||||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | Gas | 50.0000 | **** | 50.0000 | **** | 30.00 | **** | 27.341 | ||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: | ||
|---|---|---|
| PROPNUM: | 3 Months in year ‘21 | |
| Start Date: 10/2021 16.000 Year Life (09/2037) | ||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 70 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 6 |
Cawley, Gillespie & Associates, Inc.
Table 7
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN ETAL TR D
SAND HILLS (WOLFCAMP) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -5.201 | ||||||||||
| **** | 12-2022 | **** | 2.711 | ||||||||||
| **** | 12-2023 | **** | 2.151 | ||||||||||
| **** | 12-2024 | **** | 1.755 | ||||||||||
| **** | 12-2025 | **** | 1.462 | ||||||||||
| **** | 12-2026 | **** | 1.234 | ||||||||||
| **** | 12-2027 | **** | 1.052 | ||||||||||
| **** | 12-2028 | **** | 0.892 | ||||||||||
| **** | 12-2029 | **** | 0.748 | ||||||||||
| **** | 12-2030 | **** | 0.619 | ||||||||||
| **** | 12-2031 | **** | 0.502 | ||||||||||
| **** | 12-2032 | **** | 0.397 | ||||||||||
| **** | 12-2033 | **** | 0.303 | ||||||||||
| **** | 12-2034 | **** | 0.217 | ||||||||||
| **** | 12-2035 | **** | 0.141 | ||||||||||
| **** | S Tot | **** | 8.982 | ||||||||||
| **** | After | **** | 0.084 | ||||||||||
| **** | Total | **** | 9.066 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 1.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 1.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 329.558 | ||||||||||||||||
| Oil Rate | **** | 890. | **** | 125. | bbls/mo | **** | 21.7 | % | **** | 0.00 | **** | 10.0 | % | **** | 4,799. | **** | 4,799. | **** | /w/mo | Expense | 50.0000 | **** | 50.0000 | **** | 10.00 | **** | 224.954 |
| Gas Rate | **** | 2,181. | **** | 260. | Mcf/mo | **** | 22.5 | % | **** | 0.00 | **** | 11.0 | % | Revenue | **** | 15.00 | **** | 151.481 | |||||||||
| GOR | **** | 2,440. | **** | 2,070. | scf/bbl | Oil | 50.0000 | **** | 50.0000 | **** | 20.00 | **** | 98.126 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 50.0000 | **** | 50.0000 | **** | 25.00 | **** | 58.294 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 27.866 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: CODE: CGA173006 | ||
|---|---|---|
| PROPNUM: L8BFQD1B00 | 4 Months in year ‘21 | |
| Start Date: 09/2021 | 16.000 Year Life (09/2037) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 18 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 7 |
Cawley, Gillespie & Associates, Inc.
Table 8
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN TR 1
WADDELL (GRAYBURG SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -3.127 | ||||||||||
| **** | 12-2022 | **** | 3.780 | ||||||||||
| **** | 12-2023 | **** | 3.470 | ||||||||||
| **** | 12-2024 | **** | 3.181 | ||||||||||
| **** | 12-2025 | **** | 2.913 | ||||||||||
| **** | 12-2026 | **** | 2.664 | ||||||||||
| **** | 12-2027 | **** | 2.432 | ||||||||||
| **** | 12-2028 | **** | 2.215 | ||||||||||
| **** | 12-2029 | **** | 2.015 | ||||||||||
| **** | 12-2030 | **** | 1.828 | ||||||||||
| **** | 12-2031 | **** | 1.655 | ||||||||||
| **** | 12-2032 | **** | 1.493 | ||||||||||
| **** | 12-2033 | **** | 1.343 | ||||||||||
| **** | 12-2034 | **** | 1.203 | ||||||||||
| **** | 12-2035 | **** | 1.074 | ||||||||||
| **** | S Tot | **** | 28.139 | ||||||||||
| **** | After | **** | 5.528 | ||||||||||
| **** | Total | **** | 33.667 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 2.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 1,091.757 | ||||||||||||||||
| Oil Rate | **** | 1,495. | **** | 200. | bbls/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | **** | 3,561. | **** | 3,561. | **** | /w/mo | Expense | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 769.883 |
| Gas Rate | **** | 1,495. | **** | 200. | Mcf/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | Revenue | **** | 15.00 | **** | 567.813 | |||||||||
| GOR | **** | 1,000. | **** | 1,000. | scf/bbl | Oil | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 431.397 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 333.994 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 261.353 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: MIN CODE: | ||
|---|---|---|
| PROPNUM: L8BFQHPC00 | 10 Months in year ‘21 | |
| Start Date: 03/2021 | 27.750 Year Life (12/2048) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 147 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 8 |
Cawley, Gillespie & Associates, Inc.
Table 9
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Waddell Ranch Properties
Proved Undeveloped Reserves
BLACKBEARD OPERATING — WADDELL WN EAST RANCH
WADDELL (GRAYBURG SAN ANDRES) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | -3.127 | ||||||||||
| **** | 12-2022 | **** | 3.780 | ||||||||||
| **** | 12-2023 | **** | 3.470 | ||||||||||
| **** | 12-2024 | **** | 3.181 | ||||||||||
| **** | 12-2025 | **** | 2.913 | ||||||||||
| **** | 12-2026 | **** | 2.664 | ||||||||||
| **** | 12-2027 | **** | 2.432 | ||||||||||
| **** | 12-2028 | **** | 2.215 | ||||||||||
| **** | 12-2029 | **** | 2.015 | ||||||||||
| **** | 12-2030 | **** | 1.828 | ||||||||||
| **** | 12-2031 | **** | 1.655 | ||||||||||
| **** | 12-2032 | **** | 1.493 | ||||||||||
| **** | 12-2033 | **** | 1.343 | ||||||||||
| **** | 12-2034 | **** | 1.203 | ||||||||||
| **** | 12-2035 | **** | 1.074 | ||||||||||
| **** | S Tot | **** | 28.139 | ||||||||||
| **** | After | **** | 5.528 | ||||||||||
| **** | Total | **** | 33.667 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | 2.0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | 2.0 | **** | .0 | ||||||||
| **** | S Tot | ||||||||||||
| **** | After | ||||||||||||
| **** | Total |
All values are in US Dollars.
| Evaluation Parameters (Gross) | Expenses (Gross) | Percent | Cum. Disc. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | Units | Dei | n | Def | Initial | Final | Units | Final | 5.00 | 1,091.757 | ||||||||||||||||
| Oil Rate | **** | 1,495. | **** | 200. | bbls/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | **** | 3,561. | **** | 3,561. | **** | /w/mo | Expense | 37.5000 | **** | 37.5000 | **** | 10.00 | **** | 769.883 |
| Gas Rate | **** | 1,495. | **** | 200. | Mcf/mo | **** | 7.0 | % | **** | 0.00 | **** | 7.0 | % | Revenue | **** | 15.00 | **** | 567.813 | |||||||||
| GOR | **** | 1,000. | **** | 1,000. | scf/bbl | Oil | 37.5000 | **** | 37.5000 | **** | 20.00 | **** | 431.397 | ||||||||||||||
| Gas Shrinkage | **** | 0.0 | **** | 0.0 | % | Gas | 37.5000 | **** | 37.5000 | **** | 25.00 | **** | 333.994 | ||||||||||||||
| Oil Severance | **** | 4.6 | **** | 4.6 | % | **** | 30.00 | **** | 261.353 | ||||||||||||||||||
| Gas Severance | **** | 5.3 | **** | 5.3 | % | ||||||||||||||||||||||
| Ad Valorem | **** | 3.4 | % |
All values are in US Dollars.
| API: MIN CODE: 100,103,1 | ||
|---|---|---|
| PROPNUM: L8BFQFVC00 | 10 Months in year ‘21 | |
| Start Date: 03/2021 | 27.750 Year Life (12/2048) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 83 | CGA2020 01/29/2021 16:31:27 |
| --- | --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| OIL PUD | ||
| Table 9 |
Cawley, Gillespie & Associates, Inc.
PERMIAN BASIN ROYALTY TRUST
WADDELL RANCH PROPERTIES
CRANE COUNTY, TEXAS
AND
TEXAS ROYALTYPROPERTIES
VARIOUS TEXAS COUNTIES
PERMIAN BASIN ROYALTY TRUST INTERESTS
PROVED RESERVES AND ECONOMIC FORECASTS
AS OF DECEMBER 31, 2020
PREPARED WITH SEC PRICE AND COST CRITERIA
VOLUME II OF II
Texas Registered Engineering Firm F-693
PERMIAN BASIN ROYALTY TRUST
WADDELL RANCH PROPERTIES
CRANE COUNTY, TEXAS
AND
TEXAS ROYALTYPROPERTIES
VARIOUS TEXAS COUNTIES
PERMIAN BASIN ROYALTY TRUST INTERESTS
PROVED RESERVES AND ECONOMIC FORECASTS
AS OF DECEMBER 31, 2020
PREPARED WITH SEC PRICE AND COST CRITERIA
VOLUME II OF II
| CAWLEY, GILLESPIE & ASSOCIATES, INC. |
|---|
| Petroleum Consultants |
| Texas Registered Engineering Firm F-693 |
| KENNETH MUELLER, P.E. 86132 |
| VICE PRESIDENT |
WADDELL RANCH PROPERTIES AND TEXAS ROYALTY PROPERTIES
Permian Basin Royalty Trust Interests
As of December 31, 2020
Table of Contents
Volume I
Letter of Transmittal
Table of Contents
| WADDELL RANCH PROPERTIES | |
|---|---|
| Total Proved Reserves | Table I – Total Proved |
| Summary Plot – Total Proved | |
| One-Line Lease Reserves Summary | Table II – Total Proved (8 pages) |
| Proved Developed Producing Reserves | Table I – PDP |
| Summary Plot – Proved Developed Producing | |
| One-Line Lease Reserves Summary | Table II – PDP (7 pages) |
| Individual Lease Forecasts Graphs and Tables | Tables 1 – 110 |
| Proved Developed Non-ProducingReserves | Table I – PDNP |
| Summary Plot – Proved Developed<br>Non-Producing | |
| One-Line Lease Reserves Summary | Table II – PDNP (1 page) |
| Individual Lease Forecasts Tables | Tables 1 – 4 |
| Proved Undeveloped Reserves | Table I – PUD |
| Summary Plot – Proved Undeveloped | |
| One-Line Lease Reserves Summary | Table II – PUD (1 page) |
| Individual Lease Forecasts Tables | Tables 1 – 9 |
Volume II
| TEXAS ROYALTY PROPERTIES | |
|---|---|
| Proved Reserves | Table I - Proved |
| Summary Plot – Proved | |
| One-Line Lease Reserves Summary | Table II – Proved (10 pages) |
| Individual Lease Forecasts Graphs and Tables | Tables 1 – 127 |
| Appendix I | |
| Waddell Ranch Properties Interest Computation | Page 1 |
| Texas Royalty Properties Interest Computation | Page 2 |
| Appendix II | |
| --- | --- |
| Explanatory Comments | Page 1 |
| Methods Employed in the Estimation of Reserves | Page 2 |
| Reserve Definitions and Classifications | Pages 3-4 |
Table I - Proved
Composite of Reserve Estimates and Economic Forecasts
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 199.059 | ||||||||||
| **** | 12-2022 | **** | 184.637 | ||||||||||
| **** | 12-2023 | **** | 171.576 | ||||||||||
| **** | 12-2024 | **** | 159.787 | ||||||||||
| **** | 12-2025 | **** | 149.078 | ||||||||||
| **** | 12-2026 | **** | 139.266 | ||||||||||
| **** | 12-2027 | **** | 130.224 | ||||||||||
| **** | 12-2028 | **** | 121.915 | ||||||||||
| **** | 12-2029 | **** | 114.230 | ||||||||||
| **** | 12-2030 | **** | 107.127 | ||||||||||
| **** | 12-2031 | **** | 100.557 | ||||||||||
| **** | 12-2032 | **** | 94.464 | ||||||||||
| **** | 12-2033 | **** | 88.719 | ||||||||||
| **** | 12-2034 | **** | 83.371 | ||||||||||
| **** | 12-2035 | **** | 78.360 | ||||||||||
| **** | S Tot | **** | 1,922.371 | ||||||||||
| **** | After | **** | 1,057.711 | ||||||||||
| **** | Total | **** | 2,980.082 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| SEC 12-31-2020 Benchmark Prices | Percent | Cum. Disc. | ||||||
|---|---|---|---|---|---|---|---|---|
| Year | WTI SpotOil /STB | Henry HubGas /MMBTU | 5.00 | 64,702.2 | ||||
| 10.00 | 46,238.9 | **** | ||||||
| 2021 | **** | 15.00 | **** | 36,321.4 | ||||
| Thereafter | **** | 20.00 | **** | 30,148.4 | ||||
| Cap | **** | 25.00 | **** | 25,933.2 | ||||
| **** | 30.00 | **** | 22,868.4 |
All values are in US Dollars.
| 12 Months in first year | |
|---|---|
| 50.000 Year Life (01/2071) | |
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | 01/29/2021 15:43:26 |
| --- | --- |
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |
| Summary |
Cawley, Gillespie & Associates, Inc.
Table II - Proved
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| DEEP ROCK & SHAFTER LAKE (VARIOUS) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| DEEP ROCK A & SHAFTER LAKE SA | 100.0000 NI | **** | 73.8 | **** | 29.3 | **** | 25.8 | ||||||||||||||
| 1 | PDP | Oil | 28 | 0.0000 WI | **** | 50.0 | **** | 4.4 | **** | 1.3 | **** | 1.1 | |||||||||
| DEEP ROCK & WALLEN (VARIOUS) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| MILES B, MILES HAYDEN, SOUTHL | 100.0000 NI | **** | 88.1 | **** | 7.1 | **** | 6.3 | ||||||||||||||
| 2 | PDP | Oil | 1 | 0.0000 WI | **** | 47.0 | **** | 74.6 | **** | 0.2 | **** | 0.2 | |||||||||
| DOLLARHIDE (VARIOUS) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| DOLLARHIDE & N. DOLLARHIDE UN | 100.0000 NI | **** | 314.6 | **** | 77.6 | **** | 68.4 | ||||||||||||||
| 3 | PDP | Oil | 36 | 0.0000 WI | **** | 44.4 | **** | 110.6 | **** | 17.9 | **** | 15.8 | |||||||||
| DOLLARHIDE (CLEAR FORK) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| FAST DOLLAR 1H | 100.0000 NI | **** | 0.9 | **** | 0.4 | **** | 0.3 | ||||||||||||||
| 4 | PDP | Oil 1H | 141 | 0.0000 WI | **** | 5.7 | **** | 0.2 | **** | 0.1 | **** | 0.1 | |||||||||
| QUICK DOLLAR 1H | 100.0000 NI | **** | 1.2 | **** | 0.5 | **** | 0.4 | ||||||||||||||
| 5 | PDP | Oil 1H | 142 | 0.0000 WI | **** | 5.9 | **** | 0.2 | **** | 0.1 | **** | 0.1 | |||||||||
| FULLERTON (CLEARFORK) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| FULLERTON CLEARFORK UNIT | 100.0000 NI | **** | 99.1 | **** | 25.2 | **** | 22.2 | ||||||||||||||
| 6 | PDP | Oil | 57 | 0.0000 WI | **** | 29.1 | **** | 84.9 | **** | 36.6 | **** | 32.2 | |||||||||
| FULLERTON (WOLFCAMP) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| MOBIL FEE #18-3 TRUST PRIMAL | 0.0000 NI | **** | 2.4 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 7 | PDP | Oil | 82 | 0.0000 WI | **** | 0.0 | **** | 4.6 | **** | 0.0 | **** | 0.0 | |||||||||
| FULLERTON (VARIOUS) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| RALPH 3, 4, 6 | 100.0000 NI | **** | 31.2 | **** | 0.6 | **** | 0.6 | ||||||||||||||
| 8 | PDP | Oil | 20 | 0.0000 WI | **** | 21.9 | **** | 24.8 | **** | 1.1 | **** | 0.9 | |||||||||
| FULLERTON (DEVONIAN & ELLENBURG) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| WILSON H M ‘A‘ & ‘B‘ | 100.0000 NI | **** | 101.5 | **** | 3.3 | **** | 2.9 | ||||||||||||||
| 9 | PDP | Oil | 35 | 0.0000 WI | **** | 50.0 | **** | 63.2 | **** | 6.4 | **** | 5.7 | |||||||||
| MEANS (STRAWN, QUEEN, WOLFC) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| MEANS R M | 0.0000 NI | **** | 181.5 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 10 | PDP | Oil | 24 | 0.0000 WI | **** | 0.0 | **** | 16.5 | **** | 0.0 | **** | 0.0 | |||||||||
| MEANS (SAN ANDRES) — ANDREWS COUNTY, TEXAS | |||||||||||||||||||||
| MEANS SAN ANDRES UNIT | 100.0000 NI | **** | 199.0 | **** | 63.4 | **** | 55.9 | ||||||||||||||
| 11 | PDP | Oil | 44 | 0.0000 WI | **** | 45.0 | **** | 2.4 | **** | 0.0 | **** | 0.0 | |||||||||
| REINECKE (VARIOUS) — BORDEN COUNTY, TEXAS | |||||||||||||||||||||
| REINECKE UNIT & HOLBEIN I | 100.0000 NI | **** | 51.5 | **** | 0.6 | **** | 0.5 | ||||||||||||||
| 12 | PDP | Oil | 75 | 0.0000 WI | **** | 19.4 | **** | 62.4 | **** | 2.9 | **** | 2.5 | |||||||||
| HASTINGS EAST — BRAZORIA COUNTY, TEXAS | |||||||||||||||||||||
| SNEED H G & GILBERT | 100.0000 NI | **** | 75.8 | **** | 0.2 | **** | 0.2 | ||||||||||||||
| 13 | PDP | Oil | 97 | 0.0000 WI | **** | 10.6 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| HASTINGS WEST & EAST — BRAZORIA COUNTY, TEXAS | |||||||||||||||||||||
| WEST HASTINGS UNIT & SNEED | 100.0000 NI | **** | 182.8 | **** | 69.6 | **** | 61.3 | ||||||||||||||
| 14 | PDP | Oil | 52 | 0.0000 WI | **** | 42.7 | **** | 45.5 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 1 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| SHERIFF (VARIOUS) — CALHOUN COUNTY, TEXAS | |||||||||||||||||||||
| MAXWELL MAUDE, FRANK BOYD, OT | 0.0000 NI | **** | 26.3 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 15 | PDP | Oil | 86 | 0.0000 WI | **** | 0.0 | **** | 37.6 | **** | 0.0 | **** | 0.0 | |||||||||
| SHERIFF (GRETA 5700) — CALHOUN COUNTY, TEXAS | |||||||||||||||||||||
| TPIC | 0.0000 NI | **** | 0.2 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 16 | PDP | Oil | 132 | 0.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| PANHANDLE (WOLFCAMP GRANITEWASH) — CARSON COUNTY, TEXAS | |||||||||||||||||||||
| COCKRELL RANCH 2, 3, 4 | 0.0000 NI | **** | 0.1 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 17 | PDP | Oil | 140 | 0.0000 WI | **** | 0.0 | **** | 0.2 | **** | 0.0 | **** | 0.0 | |||||||||
| ARMER & CRAWAR (VARIOUS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS EDWARDS CRANE COUNTY | 100.0000 NI | **** | 115.2 | **** | 1.1 | **** | 1.0 | ||||||||||||||
| 18 | PDP | Oil | 21 | 0.0000 WI | **** | 34.7 | **** | 623.2 | **** | 2.3 | **** | 2.0 | |||||||||
| MCELROY (BEND 8960) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| MCCLINTIC H L ETAL | 100.0000 NI | **** | 50.0 | **** | 11.8 | **** | 10.4 | ||||||||||||||
| 19 | PDP | Oil | 18 | 0.0000 WI | **** | 25.7 | **** | 25.5 | **** | 6.1 | **** | 5.4 | |||||||||
| SAND HILLS (JUDKINS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| JUDKINS GAS UNIT 2 | 100.0000 NI | **** | 21.9 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 20 | PDP | Gas | 11 | 0.0000 WI | **** | 50.0 | **** | 1,525.3 | **** | 77.5 | **** | 68.2 | |||||||||
| SAND HILLS (MCKNIGHT) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| MCKNIGHT MB & MB A | 100.0000 NI | **** | 475.1 | **** | 91.5 | **** | 80.7 | ||||||||||||||
| 21 | PDP | Oil | 2 | 0.0000 WI | **** | 20.5 | **** | 1,418.3 | **** | 43.5 | **** | 38.2 | |||||||||
| MCKNIGHT MB B&C | 0.0000 NI | **** | 7.7 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 22 | PDP | Oil | 100 | 0.0000 WI | **** | 0.0 | **** | 46.4 | **** | 0.0 | **** | 0.0 | |||||||||
| SAND HILLS (VARIOUS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| TUBB JB VARIOUS AND OTHER TUB | 100.0000 NI | **** | 268.9 | **** | 23.8 | **** | 21.0 | ||||||||||||||
| 23 | PDP | Gas | 101 | 0.0000 WI | **** | 21.6 | **** | 5,184.9 | **** | 172.6 | **** | 151.9 | |||||||||
| SAND HILLS (JUDKINS & TUBB) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| TUBB JBA A & B | 100.0000 NI | **** | 1.2 | **** | 0.1 | **** | 0.1 | ||||||||||||||
| 24 | PDP | Gas | 22 | 0.0000 WI | **** | 43.4 | **** | 40.9 | **** | 5.8 | **** | 5.1 | |||||||||
| SAND HILLS (VARIOUS) — CRANE COUNTY, TEXAS | |||||||||||||||||||||
| WADDELL W N (TRUST) | 0.0000 NI | **** | 5.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 25 | PDP | Gas | 102 | 0.0000 WI | **** | 0.0 | **** | 19.3 | **** | 0.0 | **** | 0.0 | |||||||||
| TODD, TODD DEEP, DOUBLE R (CRINOIDAL, ELLENBRGR) — CROCKETT COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS TODD PROPERTIES | 100.0000 NI | **** | 526.1 | **** | 20.8 | **** | 18.3 | ||||||||||||||
| 26 | PDP | Oil | 23 | 0.0000 WI | **** | 19.2 | **** | 266.5 | **** | 3.8 | **** | 3.3 | |||||||||
| COWDEN NORTH (DEEP) — ECTOR COUNTY, TEXAS | |||||||||||||||||||||
| BLAKENEY BH A,B,C, SUN & SMIT | 100.0000 NI | **** | 74.5 | **** | 1.8 | **** | 1.6 | ||||||||||||||
| 27 | PDP | Oil | 34 | 0.0000 WI | **** | 35.7 | **** | 43.8 | **** | 0.1 | **** | 0.1 | |||||||||
| COWDEN JM R/A A B & C | 100.0000 NI | **** | 444.2 | **** | 74.0 | **** | 65.2 | ||||||||||||||
| 28 | PDP | Oil | 32 | 0.0000 WI | **** | 26.6 | **** | 622.9 | **** | 162.7 | **** | 143.2 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 2 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| COWDEN NORTH (VARIOUS) — ECTOR COUNTY, TEXAS | |||||||||||||||||||||
| NORTH COWDEN UNIT | 100.0000 NI | **** | 206.8 | **** | 24.5 | **** | 21.6 | ||||||||||||||
| 29 | PDP | Oil | 33 | 0.0000 WI | **** | 37.3 | **** | 40.5 | **** | 3.2 | **** | 2.9 | |||||||||
| FOSTER (GRAYBURG) — ECTOR COUNTY, TEXAS | |||||||||||||||||||||
| FOSTER C & D | 100.0000 NI | **** | 172.3 | **** | 4.8 | **** | 4.3 | ||||||||||||||
| 30 | PDP | Oil | 29 | 0.0000 WI | **** | 22.1 | **** | 35.9 | **** | 0.5 | **** | 0.4 | |||||||||
| GOLDSMITH (SAN ANDRES) — ECTOR COUNTY, TEXAS | |||||||||||||||||||||
| GOLDSMITH SAN ANDRES UNIT | 100.0000 NI | **** | 791.5 | **** | 20.1 | **** | 17.7 | ||||||||||||||
| 31 | PDP | Oil | 30 | 0.0000 WI | **** | 22.9 | **** | 2,079.8 | **** | 23.1 | **** | 20.3 | |||||||||
| JORDAN (VARIOUS) — ECTOR COUNTY, TEXAS | |||||||||||||||||||||
| WEST JORDAN UNIT | 100.0000 NI | **** | 24.8 | **** | 1.2 | **** | 1.1 | ||||||||||||||
| 32 | PDP | Oil | 27 | 0.0000 WI | **** | 13.6 | **** | 9.7 | **** | 0.3 | **** | 0.3 | |||||||||
| JORDAN, PENWELL (VARIOUS) — ECTOR COUNTY, TEXAS | |||||||||||||||||||||
| CONNELL W E VARIOUS | 100.0000 NI | **** | 83.5 | **** | 0.1 | **** | 0.1 | ||||||||||||||
| 33 | PDP | Oil | 103 | 0.0000 WI | **** | 8.0 | **** | 25.9 | **** | 0.0 | **** | 0.0 | |||||||||
| PENWELL (CLEARFORK) — ECTOR COUNTY, TEXAS | |||||||||||||||||||||
| PENWELL UNIT | 100.0000 NI | **** | 33.7 | **** | 4.5 | **** | 4.0 | ||||||||||||||
| 34 | PDP | Oil | 26 | 0.0000 WI | **** | 33.5 | **** | 9.4 | **** | 0.6 | **** | 0.5 | |||||||||
| CEDAR LAKE (SILURIAN) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| CEDAR LAKE UNIT & BREMONT | 100.0000 NI | **** | 319.2 | **** | 45.7 | **** | 40.3 | ||||||||||||||
| 35 | PDP | Oil | 42 | 0.0000 WI | **** | 40.7 | **** | 6.1 | **** | 0.0 | **** | 0.0 | |||||||||
| JENKINS, BAKER, NOLLEY (SAN ANDRES & WLFCMP) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| JENKINS UNIT, PROCTOR, NOLLEY | 100.0000 NI | **** | 276.8 | **** | 47.1 | **** | 41.5 | ||||||||||||||
| 36 | PDP | Oil | 41 | 0.0000 WI | **** | 50.0 | **** | 602.7 | **** | 7.1 | **** | 6.3 | |||||||||
| SEMINOLE (SAN ANGELO) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| AVERITT & RILEY TS | 100.0000 NI | **** | 49.2 | **** | 5.3 | **** | 4.7 | ||||||||||||||
| 37 | PDP | Oil | 39 | 0.0000 WI | **** | 48.9 | **** | 7.8 | **** | 0.0 | **** | 0.0 | |||||||||
| SEMINOLE (SAN ANDRES & DEEP) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| SEMINOLE SAN ANDRES & DEEP UN | 100.0000 NI | **** | 673.4 | **** | 138.1 | **** | 121.7 | ||||||||||||||
| 38 | PDP | Oil | 38 | 0.0000 WI | **** | 50.0 | **** | 47.7 | **** | 0.0 | **** | 0.0 | |||||||||
| SEMINOLE (SADR, WFCMP, DEVON) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS SEMINOLE PROPERTIES | 0.0000 NI | **** | 16.1 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 39 | PDP | Oil | 40 | 0.0000 WI | **** | 0.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| SEMINOLE WEST (VARIOUS) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| W SEMINOLE SA UNIT & VARIOUS | 100.0000 NI | **** | 161.7 | **** | 86.7 | **** | 76.4 | ||||||||||||||
| 40 | PDP | Oil | 37 | 0.0000 WI | **** | 36.2 | **** | 182.0 | **** | 0.0 | **** | 0.0 | |||||||||
| WASSON 72 (VARIOUS) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| GAINES WASSON CLEARFORK UNIT | 100.0000 NI | **** | 234.7 | **** | 28.6 | **** | 25.2 | ||||||||||||||
| 41 | PDP | Oil | 45 | 0.0000 WI | **** | 27.2 | **** | 94.2 | **** | 0.6 | **** | 0.6 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 3 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| WASSON 72 (VARIOUS) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| WASSON SOUTH CLEARFORK UNIT | 100.0000 NI | **** | 170.8 | **** | 14.4 | **** | 12.7 | ||||||||||||||
| 42 | PDP | Oil | 43 | 0.0000 WI | **** | 26.8 | **** | 15.7 | **** | 0.2 | **** | 0.2 | |||||||||
| WASSON SOUTH (WICHITA ALBANY) — GAINES COUNTY, TEXAS | |||||||||||||||||||||
| WASSON 48 (TRUST) | 100.0000 NI | **** | 568.6 | **** | 1.4 | **** | 1.2 | ||||||||||||||
| 43 | PDP | Oil | 104 | 0.0000 WI | **** | 33.7 | **** | 188.0 | **** | 0.0 | **** | 0.0 | |||||||||
| PANHANDLE GRAY COUNTY — GRAY COUNTY, TEXAS | |||||||||||||||||||||
| COMBS, COMBS & WORLEY, OTHER | 100.0000 NI | **** | 65.1 | **** | 13.3 | **** | 11.7 | ||||||||||||||
| 44 | PDP | Oil | 105 | 0.0000 WI | **** | 34.8 | **** | 164.6 | **** | 28.3 | **** | 24.9 | |||||||||
| PANHANDLE GRAY COUNTY (VARIOUS) — GRAY COUNTY, TEXAS | |||||||||||||||||||||
| PANHANDLE GRAY COUNTY VARIOUS | 100.0000 NI | **** | 85.2 | **** | 0.2 | **** | 0.2 | ||||||||||||||
| 45 | PDP | Oil | 46 | 0.0000 WI | **** | 8.7 | **** | 247.2 | **** | 0.9 | **** | 0.8 | |||||||||
| BIG MINERAL CREEK (VARIOUS) — GRAYSON COUNTY, TEXAS | |||||||||||||||||||||
| BIG MINERAL CREEK UNITS | 100.0000 NI | **** | 90.0 | **** | 4.9 | **** | 4.3 | ||||||||||||||
| 46 | PDP | Oil | 53 | 0.0000 WI | **** | 38.2 | **** | 36.8 | **** | 3.5 | **** | 3.1 | |||||||||
| BIG MINERAL CREEK (WOODFORD) — GRAYSON COUNTY, TEXAS | |||||||||||||||||||||
| SOUTHLAND UNIT 1H | 100.0000 NI | **** | 0.3 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 47 | PDP | Oil | 139 | 0.0000 WI | **** | 2.1 | **** | 2.0 | **** | 0.3 | **** | 0.2 | |||||||||
| SHERMAN EAST (PENN 7100) — GRAYSON COUNTY, TEXAS | |||||||||||||||||||||
| BROWN BETH-KIMBELL-BELL UNITS | 100.0000 NI | **** | 77.4 | **** | 11.8 | **** | 10.4 | ||||||||||||||
| 48 | PDP | Oil | 54 | 0.0000 WI | **** | 50.0 | **** | 79.6 | **** | 24.5 | **** | 21.5 | |||||||||
| AIRSTRIP (BONE SPRINGS) — GREGG COUNTY, TEXAS | |||||||||||||||||||||
| FOSTER HL & WE JONES | 100.0000 NI | **** | 46.6 | **** | 2.4 | **** | 2.1 | ||||||||||||||
| 49 | PDP | Oil | 48 | 0.0000 WI | **** | 41.8 | **** | 14.1 | **** | 0.0 | **** | 0.0 | |||||||||
| EAST TEXAS — GREGG COUNTY, TEXAS | |||||||||||||||||||||
| LAWRENCE HM | 100.0000 NI | **** | 118.4 | **** | 5.2 | **** | 4.6 | ||||||||||||||
| 50 | PDP | Oil | 51 | 0.0000 WI | **** | 39.2 | **** | 55.1 | **** | 3.3 | **** | 2.9 | |||||||||
| MOORE BOSTON | 100.0000 NI | **** | 202.6 | **** | 0.4 | **** | 0.3 | ||||||||||||||
| 51 | PDP | Oil | 50 | 0.0000 WI | **** | 14.4 | **** | 27.7 | **** | 0.1 | **** | 0.1 | |||||||||
| EAST TEXAS & OTHERS (VARIOUS) — GREGG COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS EAST TEXAS PROPERTIES | 100.0000 NI | **** | 728.3 | **** | 3.6 | **** | 3.2 | ||||||||||||||
| 52 | PDP | Oil | 47 | 0.0000 WI | **** | 20.8 | **** | 367.3 | **** | 7.9 | **** | 6.9 | |||||||||
| WILLOW SPRINGS (VARIOUS) — GREGG COUNTY, TEXAS | |||||||||||||||||||||
| DAVIS JD E GAS UNIT | 100.0000 NI | **** | 0.6 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 53 | PDP | Gas | 106 | 0.0000 WI | **** | 16.2 | **** | 126.5 | **** | 3.5 | **** | 3.1 | |||||||||
| ANTON-IRISH (CLEARFORK) — HALE COUNTY, TEXAS | |||||||||||||||||||||
| ANTON-IRISH CLEARFORK UNIT | 100.0000 NI | **** | 238.3 | **** | 19.1 | **** | 16.8 | ||||||||||||||
| 54 | PDP | Oil | 55 | 0.0000 WI | **** | 31.6 | **** | 27.4 | **** | 0.0 | **** | 0.0 | |||||||||
| SLAUGHTER (VARIOUS) — HOCKLEY COUNTY, TEXAS | |||||||||||||||||||||
| SUNDOWN UNIT | 100.0000 NI | **** | 72.6 | **** | 9.9 | **** | 8.7 | ||||||||||||||
| 55 | PDP | Oil | 56 | 0.0000 WI | **** | 43.8 | **** | 11.3 | **** | 0.0 | **** | 0.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 4 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| COAHOMA N, IATAN, SNYDER (VARIOUS) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS TL&M A & HELEN | 0.0000 NI | **** | 84.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 56 | PDP | Oil | 65 | 0.0000 WI | **** | 0.0 | **** | 21.0 | **** | 0.0 | **** | 0.0 | |||||||||
| HOWARD GLASSCOCK (VARIOUS) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| CHALK DUNCAN, DORIS, OTIS, OT | 100.0000 NI | **** | 203.3 | **** | 10.7 | **** | 9.4 | ||||||||||||||
| 57 | PDP | Oil | 59 | 0.0000 WI | **** | 14.2 | **** | 34.6 | **** | 1.0 | **** | 0.9 | |||||||||
| HOWARD GLASSCOCK (GLORIETA) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| CHALK H-G GLORIETA, OTHER CHA | 100.0000 NI | **** | 208.9 | **** | 22.0 | **** | 19.4 | ||||||||||||||
| 58 | PDP | Oil | 62 | 0.0000 WI | **** | 20.7 | **** | 11.8 | **** | 2.2 | **** | 1.9 | |||||||||
| HOWARD GLASSCOCK (VARIOUS) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| HYMAN-CHALK, CHALK, BOWEN | 100.0000 NI | **** | 187.7 | **** | 10.8 | **** | 9.5 | ||||||||||||||
| 59 | PDP | Oil | 61 | 0.0000 WI | **** | 16.1 | **** | 84.4 | **** | 3.3 | **** | 2.9 | |||||||||
| OVERTON B & OVERTON B ‘A‘ | 100.0000 NI | **** | 296.8 | **** | 13.0 | **** | 11.5 | ||||||||||||||
| 60 | PDP | Oil | 63 | 0.0000 WI | **** | 15.4 | **** | 6.0 | **** | 0.2 | **** | 0.2 | |||||||||
| REED VARIOUS | 100.0000 NI | 183.3 | 23.6 | 20.8 | |||||||||||||||||
| 61 | PDP | Oil | 60 | 0.0000 WI | 28.9 | 21.6 | 1.7 | 1.5 | |||||||||||||
| HOWARD GLASSCOCK (YATES, OTHERS) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| SETTLES W R B & SETTLES YATES | 100.0000 NI | **** | 147.3 | **** | 34.6 | **** | 30.5 | ||||||||||||||
| 62 | PDP | Oil | 107 | 0.0000 WI | **** | 27.2 | **** | 2.7 | **** | 1.0 | **** | 0.9 | |||||||||
| HOWARD GLASSCOCK (VARIOUS) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| SETTLES YATES UNIT & OTHER SE | 0.0000 NI | **** | 209.2 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 63 | PDP | Oil | 58 | 0.0000 WI | **** | 0.0 | **** | 1.6 | **** | 0.0 | **** | 0.0 | |||||||||
| IATAN EAST HOWARD (VARIOUS) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| TL&M A-R/A-A | 100.0000 NI | **** | 18.7 | **** | 1.4 | **** | 1.2 | ||||||||||||||
| 64 | PDP | Oil | 66 | 0.0000 WI | **** | 26.4 | **** | 10.9 | **** | 3.7 | **** | 3.2 | |||||||||
| SNYDER (VARIOUS) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| O‘DANIEL A E, O‘DANIEL B & O‘ | 100.0000 NI | **** | 39.0 | **** | 3.3 | **** | 2.9 | ||||||||||||||
| 65 | PDP | Oil | 108 | 0.0000 WI | **** | 23.2 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| VEALMOOR EAST (CANYON REEF) — HOWARD COUNTY, TEXAS | |||||||||||||||||||||
| EAST VEALMOOR UNIT | 100.0000 NI | **** | 20.2 | **** | 0.7 | **** | 0.6 | ||||||||||||||
| 66 | PDP | Oil | 64 | 0.0000 WI | **** | 23.2 | **** | 74.1 | **** | 1.1 | **** | 1.0 | |||||||||
| PANHANDLE — HUTCHINSON COUNTY, TEXAS | |||||||||||||||||||||
| JOHNSON G (TRUST) SA OIL | 0.0000 NI | **** | 2.2 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 67 | PDP | Gas | 109 | 0.0000 WI | **** | 0.0 | **** | 38.9 | **** | 0.0 | **** | 0.0 | |||||||||
| PANHANDLE & ADOBE WALL — HUTCHINSON COUNTY, TEXAS | |||||||||||||||||||||
| TURNER-KENT B & VARIOUS COCKR | 100.0000 NI | **** | 271.7 | **** | 0.5 | **** | 0.4 | ||||||||||||||
| 68 | PDP | Oil | 70 | 0.0000 WI | **** | 8.8 | **** | 1,031.5 | **** | 0.0 | **** | 0.0 | |||||||||
| PANHANDLE HUTCHINSON COUNTY — HUTCHINSON COUNTY, TEXAS | |||||||||||||||||||||
| ANTELOPE CREEK, JOHNSON EB A& | 100.0000 NI | **** | 0.3 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 69 | PDP | Gas | 67 | 0.0000 WI | **** | 19.5 | **** | 63.5 | **** | 5.3 | **** | 4.7 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 5 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| PANHANDLE HUTCHINSON COUNTY — HUTCHINSON COUNTY, TEXAS | |||||||||||||||||||||
| HUTCHINSON COUNTY PROPERTIES | 100.0000 NI | **** | 0.5 | **** | 0.1 | **** | 0.1 | ||||||||||||||
| 70 | PDP | Oil | 136 | 0.0000 WI | **** | 6.5 | **** | 29.3 | **** | 0.0 | **** | 0.0 | |||||||||
| PANHANDLE HUTCHINSON COUNTY (VARIOUS) — HUTCHINSON COUNTY, TEXAS | |||||||||||||||||||||
| JOHNSON, JOHNSON RANCH & OTHE | 100.0000 NI | **** | 36.1 | **** | 5.5 | **** | 4.9 | ||||||||||||||
| 71 | PDP | Gas | 68 | 0.0000 WI | **** | 19.4 | **** | 743.5 | **** | 62.1 | **** | 54.6 | |||||||||
| JON & JON A1, B1 & C | 0.0000 NI | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 72 | PDP | Gas | 19 | 0.0000 WI | **** | 0.0 | **** | 60.6 | **** | 0.0 | **** | 0.0 | |||||||||
| PANHANDLE HUTCHINSON COUNTY V 100.0000 NI | **** | 111.5 | **** | 3.1 | **** | 2.7 | |||||||||||||||
| 73 | PDP | Gas | 69 | 0.0000 WI | **** | 27.2 | **** | 6,301.0 | **** | 135.2 | **** | 119.0 | |||||||||
| VARIOUS COCKRELL PROPERTIES | 100.0000 NI | **** | 39.5 | **** | 3.6 | **** | 3.2 | ||||||||||||||
| 74 | PDP | Oil | 71 | 0.0000 WI | **** | 21.6 | **** | 112.7 | **** | 3.9 | **** | 3.4 | |||||||||
| PANHANDLE WEST (BROWN DOLOMITE) — HUTCHINSON COUNTY, TEXAS | |||||||||||||||||||||
| MAYER 1R & GERRY 1—SUMMARY | 100.0000 NI | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 75 | PDP | Gas | 135 | 0.0000 WI | **** | 16.6 | **** | 9.8 | **** | 0.9 | **** | 0.8 | |||||||||
| COLEMAN RANCH (VARIOUS) — MITCHELL COUNTY, TEXAS | |||||||||||||||||||||
| COLEMAN RANCH UNIT | 100.0000 NI | **** | 92.2 | **** | 8.9 | **** | 7.9 | ||||||||||||||
| 76 | PDP | Oil | 74 | 0.0000 WI | **** | 24.2 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| COLEMAN RANCH, WESTBROOK (VARIOUS) — MITCHELL COUNTY, TEXAS | |||||||||||||||||||||
| BURCHARD, COLEMAN VARIOUS, CO | 100.0000 NI | **** | 142.4 | **** | 3.9 | **** | 3.5 | ||||||||||||||
| 77 | PDP | Oil | 110 | 0.0000 WI | **** | 23.0 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| IATAN & IATAN EAST HOWARD (SADR & CLEARFORK) — MITCHELL COUNTY, TEXAS | |||||||||||||||||||||
| FOSTER MARY | 100.0000 NI | **** | 121.7 | **** | 9.5 | **** | 8.4 | ||||||||||||||
| 78 | PDP | Oil | 77 | 0.0000 WI | **** | 30.6 | **** | 8.7 | **** | 0.0 | **** | 0.0 | |||||||||
| IATAN EAST HOWARD (CLEARFORK) — MITCHELL COUNTY, TEXAS | |||||||||||||||||||||
| WATSON WWD & WW | 100.0000 NI | **** | 48.5 | **** | 3.1 | **** | 2.8 | ||||||||||||||
| 79 | PDP | Oil | 76 | 0.0000 WI | **** | 34.0 | **** | 0.9 | **** | 0.0 | **** | 0.0 | |||||||||
| JAMESON NORTH (STRAWN & OTHERS) — MITCHELL COUNTY, TEXAS | |||||||||||||||||||||
| MCCABE VT VARIOUS, STUBBLEFIE | 100.0000 NI | **** | 22.6 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 80 | PDP | Oil | 73 | 0.0000 WI | **** | 2.5 | **** | 38.7 | **** | 0.0 | **** | 0.0 | |||||||||
| WESTBROOK (CLEARFORK) — MITCHELL COUNTY, TEXAS | |||||||||||||||||||||
| NORTH WESTBROOK UNIT | 100.0000 NI | **** | 91.6 | **** | 7.7 | **** | 6.8 | ||||||||||||||
| 81 | PDP | Oil | 72 | 0.0000 WI | **** | 19.2 | **** | 3.4 | **** | 0.0 | **** | 0.0 | |||||||||
| CONROE — MONTGOMERY COUNTY, TEXAS | |||||||||||||||||||||
| CONROE FIELD UNIT | 100.0000 NI | **** | 74.3 | **** | 10.5 | **** | 9.2 | ||||||||||||||
| 82 | PDP | Oil | 78 | 0.0000 WI | **** | 47.8 | **** | 179.3 | **** | 9.2 | **** | 8.1 | |||||||||
| ARNOLD-DAVIS & LUBY (VARIOUS) — NUECES COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS MCCANN PROPERTIES | 0.0000 NI | **** | 20.2 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 83 | PDP | Gas | 79 | 0.0000 WI | **** | 0.0 | **** | 620.1 | **** | 0.0 | **** | 0.0 | |||||||||
| CHENOT (WOLFCAMP) — PECOS COUNTY, TEXAS | |||||||||||||||||||||
| WOODWARD 64 & SOUTHLAND ROYAL | 100.0000 NI | **** | 4.7 | **** | 0.4 | **** | 0.3 | ||||||||||||||
| 84 | PDP | Gas | 81 | 0.0000 WI | **** | 14.8 | **** | 600.3 | **** | 9.3 | **** | 8.1 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 6 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| YATES (VARIOUS) — PECOS COUNTY, TEXAS | |||||||||||||||||||||
| YATES FIELD UNIT & SMITH MYRO | 100.0000 NI | **** | 1,656.6 | **** | 493.3 | **** | 434.8 | ||||||||||||||
| 85 | PDP | Oil | 80 | 0.0000 WI | **** | 50.0 | **** | 145.2 | **** | 0.0 | **** | 0.0 | |||||||||
| YATES , TOBORG (WOLFCAMP, OTHERS) — PECOS COUNTY, TEXAS | |||||||||||||||||||||
| CONOCO YATES, YATES IG, OTHER | 100.0000 NI | **** | 309.8 | **** | 2.0 | **** | 1.7 | ||||||||||||||
| 86 | PDP | Oil | 111 | 0.0000 WI | **** | 39.0 | **** | 2.1 | **** | 0.0 | **** | 0.0 | |||||||||
| SPRABERRY (TREND AREA) — REAGAN COUNTY, TEXAS | |||||||||||||||||||||
| LOFTIN & GOULD A | 100.0000 NI | **** | 123.1 | **** | 14.1 | **** | 12.5 | ||||||||||||||
| 87 | PDP | Oil | 84 | 0.0000 WI | **** | 34.7 | **** | 458.7 | **** | 99.0 | **** | 87.1 | |||||||||
| DIAMOND -M- (CLEARFORK) — SCURRY COUNTY, TEXAS | |||||||||||||||||||||
| PP BOYLES | 100.0000 NI | **** | 9.9 | **** | 0.7 | **** | 0.6 | ||||||||||||||
| 88 | PDP | Oil | 112 | 0.0000 WI | **** | 21.3 | **** | 1.6 | **** | 0.2 | **** | 0.1 | |||||||||
| KELLY-SNYDER (CISCO) — SCURRY COUNTY, TEXAS | |||||||||||||||||||||
| JAP BECK LEASE | 100.0000 NI | **** | 0.7 | **** | 0.1 | **** | 0.1 | ||||||||||||||
| 89 | PDP | Oil | 138 | 0.0000 WI | **** | 3.7 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| KELLY-SNYDER & REVILO (VARIOUS) — SCURRY COUNTY, TEXAS | |||||||||||||||||||||
| SACROC, BROWN JW & REVILO GLO | 100.0000 NI | **** | 1,009.8 | **** | 287.1 | **** | 253.1 | ||||||||||||||
| 90 | PDP | Oil | 85 | 0.0000 WI | **** | 24.8 | **** | 237.3 | **** | 2.8 | **** | 2.5 | |||||||||
| REVILO (GLORIETA) — SCURRY COUNTY, TEXAS | |||||||||||||||||||||
| BOYLES G D (TRUST) | 100.0000 NI | **** | 7.5 | **** | 0.4 | **** | 0.4 | ||||||||||||||
| 91 | PDP | Oil | 114 | 0.0000 WI | **** | 14.8 | **** | 0.3 | **** | 0.0 | **** | 0.0 | |||||||||
| BOYD S E (CONGLOMERATE) — STONEWALL COUNTY, TEXAS | |||||||||||||||||||||
| BOYD CONGLOMERATE UNIT | 100.0000 NI | **** | 6.4 | **** | 0.1 | **** | 0.1 | ||||||||||||||
| 92 | PDP | Oil | 87 | 0.0000 WI | **** | 4.3 | **** | 13.4 | **** | 0.0 | **** | 0.0 | |||||||||
| ADAIR (SAN ANDRES, WOLFCAMP) — TERRY COUNTY, TEXAS | |||||||||||||||||||||
| ADAIR SAN ANDRES & WOLFCAMP U | 100.0000 NI | **** | 173.0 | **** | 40.0 | **** | 35.3 | ||||||||||||||
| 93 | PDP | Oil | 88 | 0.0000 WI | **** | 44.9 | **** | 6.8 | **** | 0.0 | **** | 0.0 | |||||||||
| EAST TEXAS (VARIOUS) — UPSHUR COUNTY, TEXAS | |||||||||||||||||||||
| BLAND & FREE PROPERTIES | 100.0000 NI | **** | 12.3 | **** | 1.8 | **** | 1.6 | ||||||||||||||
| 94 | PDP | Oil | 89 | 0.0000 WI | **** | 23.2 | **** | 84.2 | **** | 9.2 | **** | 8.1 | |||||||||
| EAST TEXAS — UPSHUR COUNTY, TEXAS | |||||||||||||||||||||
| EDWARDS, EDWARDS ETHEL, EDWAR | 100.0000 NI | **** | 85.0 | **** | 1.5 | **** | 1.3 | ||||||||||||||
| 95 | PDP | Gas | 116 | 0.0000 WI | **** | 17.1 | **** | 191.2 | **** | 6.3 | **** | 5.5 | |||||||||
| WHITE OAK (COTTON VALLEY) — UPSHUR COUNTY, TEXAS | |||||||||||||||||||||
| HAMPTON HOWARD (TRUST) 1 | 100.0000 NI | **** | 15.3 | **** | 1.9 | **** | 1.6 | ||||||||||||||
| 96 | PDP | Oil | 117 | 0.0000 WI | **** | 40.2 | **** | 64.1 | **** | 17.1 | **** | 15.1 | |||||||||
| ADAMC (BEND) — UPTON COUNTY, TEXAS | |||||||||||||||||||||
| ADAMC BEND UNIT | 100.0000 NI | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 97 | PDP | Gas | 90 | 0.0000 WI | **** | 4.8 | **** | 2.5 | **** | 0.1 | **** | 0.1 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 7 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| MCELROY — UPTON COUNTY, TEXAS | |||||||||||||||||||||
| CRIER MCELROY (TRUST) | 100.0000 NI | **** | 1,342.4 | **** | 228.7 | **** | 201.6 | ||||||||||||||
| 98 | PDP | Oil | 118 | 0.0000 WI | **** | 44.6 | **** | 133.3 | **** | 22.6 | **** | 19.8 | |||||||||
| MCCLINTIC (TRUST) 1 | 0.0000 NI | **** | 135.1 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 99 | PDP | Oil | 119 | 0.0000 WI | **** | 0.0 | **** | 6.6 | **** | 0.0 | **** | 0.0 | |||||||||
| VAN — VAN ZANDT COUNTY, TEXAS | |||||||||||||||||||||
| JARMAN WT, MORRIS WE, MURPHRE | 100.0000 NI | **** | 37.3 | **** | 2.0 | **** | 1.8 | ||||||||||||||
| 100 | PDP | Oil | 121 | 0.0000 WI | **** | 35.4 | **** | 52.8 | **** | 0.7 | **** | 0.6 | |||||||||
| VAN (RODESSA) — VAN ZANDT COUNTY, TEXAS | |||||||||||||||||||||
| S V RUC UNIT | 100.0000 NI | **** | 11.2 | **** | 0.1 | **** | 0.1 | ||||||||||||||
| 101 | PDP | Oil | 124 | 0.0000 WI | **** | 7.6 | **** | 16.4 | **** | 0.0 | **** | 0.0 | |||||||||
| VAN — VAN ZANDT COUNTY, TEXAS | |||||||||||||||||||||
| WELLS R L 46 (TRUST) | 0.0000 NI | **** | 0.1 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 102 | PDP | Gas | 123 | 0.0000 WI | **** | 0.0 | **** | 0.8 | **** | 0.0 | **** | 0.0 | |||||||||
| VAN & VAN SW — VAN ZANDT COUNTY, TEXAS | |||||||||||||||||||||
| CENTRAL VAN WOODBINE UNIT & O | 100.0000 NI | **** | 269.8 | **** | 6.7 | **** | 5.9 | ||||||||||||||
| 103 | PDP | Oil | 91 | 0.0000 WI | **** | 23.4 | **** | 120.0 | **** | 3.1 | **** | 2.7 | |||||||||
| KATY — WALLER COUNTY, TEXAS | |||||||||||||||||||||
| CONSOLIDATED & KATY GAS FIELD | 0.0000 NI | **** | 0.2 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 104 | PDP | Gas | 92 | 0.0000 WI | **** | 0.0 | **** | 1,148.7 | **** | 0.0 | **** | 0.0 | |||||||||
| JANELLE SE (TUBB) — WARD COUNTY, TEXAS | |||||||||||||||||||||
| EDWARDS FEE ETAL & EDWARDS B | 100.0000 NI | **** | 42.8 | **** | 9.8 | **** | 8.6 | ||||||||||||||
| 105 | PDP | Gas | 125 | 0.0000 WI | **** | 22.9 | **** | 346.9 | **** | 40.2 | **** | 35.3 | |||||||||
| WARD-ESTES, WARD-ESTES NORTH (VARIOUS) — WARD COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS MARTIN PROPERTIES | 100.0000 NI | **** | 24.4 | **** | 1.2 | **** | 1.1 | ||||||||||||||
| 106 | PDP | Gas | 93 | 0.0000 WI | **** | 21.8 | **** | 259.8 | **** | 21.2 | **** | 18.7 | |||||||||
| EMPEROR (SIMPSON) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| EMPEROR 24 | 0.0000 NI | **** | 0.0 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 107 | PDP | Gas 1 | 133 | 0.0000 WI | **** | 0.0 | **** | 23.2 | **** | 0.0 | **** | 0.0 | |||||||||
| EMPEROR & HALLEY (YATES) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| MCCABE FP | 100.0000 NI | **** | 57.1 | **** | 0.5 | **** | 0.4 | ||||||||||||||
| 108 | PDP | Oil | 3 | 0.0000 WI | **** | 15.8 | **** | 249.6 | **** | 0.1 | **** | 0.1 | |||||||||
| EMPEROR, EMPEROR EAST (VARIOUS) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS BROWN ALTMAN PROPERTI 100.0000 NI | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||||||||
| 109 | PDP | Gas | 5 | 0.0000 WI | **** | 6.2 | **** | 791.6 | **** | 2.2 | **** | 1.9 | |||||||||
| EMPEROR, KERMIT, WEINER (VARIOUS) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| VARIOUS BROWN-ALTMAN PROPERTI 100.0000 NI | **** | 114.9 | **** | 16.3 | **** | 14.4 | |||||||||||||||
| 110 | PDP | Oil | 126 | 0.0000 WI | **** | 44.3 | **** | 2,219.7 | **** | 165.4 | **** | 145.5 | |||||||||
| HALLEY, EMPEROR, WEINER (VARIOUS) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| HALLEY UNIT & OTHER HALLEY | 100.0000 NI | **** | 342.6 | **** | 9.8 | **** | 8.6 | ||||||||||||||
| 111 | PDP | Gas | 4 | 0.0000 WI | **** | 12.5 | **** | 6,006.3 | **** | 127.4 | **** | 112.1 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 8 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| HENDRICK (VARIOUS) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| HENDRICK TG & OTHER HENDRICK | 100.0000 NI | **** | 159.8 | **** | 60.6 | **** | 53.4 | ||||||||||||||
| 112 | PDP | Oil | 6 | 0.0000 WI | **** | 49.9 | **** | 157.6 | **** | 21.5 | **** | 18.9 | |||||||||
| TB HENDRICK #3 & ’A’ #2 | 0.0000 NI | **** | 75.2 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 113 | PDP | Oil | 127 | 0.0000 WI | **** | 0.0 | **** | 111.3 | **** | 0.0 | **** | 0.0 | |||||||||
| KEYSTONE (COLBY, MCKEE, SILUR) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| JENKINS VARIOUS | 100.0000 NI | **** | 354.0 | **** | 21.0 | **** | 18.5 | ||||||||||||||
| 114 | PDP | Oil | 8 | 0.0000 WI | **** | 34.3 | **** | 870.7 | **** | 24.0 | **** | 21.1 | |||||||||
| KEYSTONE (HOLT) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| KEYSTONE HOLT UNIT | 100.0000 NI | **** | 105.0 | **** | 20.3 | **** | 17.9 | ||||||||||||||
| 115 | PDP | Oil | 9 | 0.0000 WI | 36.8 | 182.6 | 14.9 | 13.1 | |||||||||||||
| KEYSTONE (COLBY, MCKEE) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| MCCUTCHEN W A VARIOUS | 100.0000 NI | **** | 12.4 | **** | 1.1 | **** | 1.0 | ||||||||||||||
| 116 | PDP | Oil | 128 | 0.0000 WI | **** | 22.5 | **** | 85.0 | **** | 18.7 | **** | 16.4 | |||||||||
| KEYSTONE (ELLENBURGER) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| SO KEYSTONE ELLENBURGER UNIT | 100.0000 NI | **** | 43.9 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 117 | PDP | Gas | 10 | 0.0000 WI | 15.6 | 1,608.2 | 75.0 | 66.0 | |||||||||||||
| KEYSTONE (VARIOUS) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| SO KEYSTONE SILURIAN UNIT | 100.0000 NI | **** | 5.5 | **** | 1.5 | **** | 1.4 | ||||||||||||||
| 118 | PDP | Oil | 7 | 0.0000 WI | 12.8 | 12.0 | 0.7 | 0.6 | |||||||||||||
| KEYSTONE (DEVONIAN, SILURIAN) — WINKLER COUNTY, TEXAS | |||||||||||||||||||||
| TALVEZ (7) (TRUST) | 0.0000 NI | **** | 9.1 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 119 | PDP | Gas | 129 | 0.0000 WI | 0.0 | 501.2 | 0.0 | 0.0 | |||||||||||||
| OWNBY (SAN ANDRES & CLRFK) — YOAKUM COUNTY, TEXAS | |||||||||||||||||||||
| OWNBY SADR & CENTRAL OWNBY UN 100.0000 NI | **** | 121.2 | **** | 4.0 | **** | 3.5 | |||||||||||||||
| 120 | PDP | Oil | 14 | 0.0000 WI | 21.0 | 47.6 | 0.1 | 0.1 | |||||||||||||
| WASSON (VARIOUS) — YOAKUM COUNTY, TEXAS | |||||||||||||||||||||
| BENNETT RANCH UNIT | 100.0000 NI | **** | 751.6 | **** | 133.9 | **** | 118.0 | ||||||||||||||
| 121 | PDP | Oil | 130 | 0.0000 WI | 34.5 | 221.6 | 12.3 | 10.8 | |||||||||||||
| DENVER UNIT | 100.0000 NI | **** | 2,633.9 | **** | 784.9 | **** | 691.8 | ||||||||||||||
| 122 | PDP | Oil | 13 | 0.0000 WI | 49.8 | 1,958.5 | 241.7 | 212.7 | |||||||||||||
| WOOTEN H | 0.0000 NI | **** | 102.7 | **** | 0.0 | **** | 0.0 | ||||||||||||||
| 123 | PDP | Oil | 131 | 0.0000 WI | 0.0 | 36.3 | 0.0 | 0.0 | |||||||||||||
| WASSON & WASSON NORTHEAST (VARIOUS) — YOAKUM COUNTY, TEXAS | |||||||||||||||||||||
| WASSON NORTH CLFK UNIT | 100.0000 NI | **** | 106.0 | **** | 18.7 | **** | 16.5 | ||||||||||||||
| 124 | PDP | Oil | 15 | 0.0000 WI | 33.8 | 2.3 | 0.0 | 0.0 | |||||||||||||
| WASSON (WICHITA ALBANY) — YOAKUM COUNTY, TEXAS | |||||||||||||||||||||
| MILLER ANNIE, STEVENS SUE & S | 100.0000 NI | **** | 779.7 | **** | 10.5 | **** | 9.3 | ||||||||||||||
| 125 | PDP | Oil | 16 | 0.0000 WI | 31.9 | 600.8 | 0.3 | 0.3 | |||||||||||||
| WASSON 72 (VARIOUS) — YOAKUM COUNTY, TEXAS | |||||||||||||||||||||
| YOAKUM WASSON CLEARFORK UNIT 100.0000 NI | **** | 113.9 | **** | 32.9 | **** | 29.0 | |||||||||||||||
| 126 | PDP | Oil | 17 | 0.0000 WI | 28.6 | 3.2 | 0.8 | 0.7 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 9 |
Table II - Proved (cont.)
Lease Reserve Summary
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
Various Counties, Texas
As of December 31, 2020
| LEASE NAME | Start | CurrentInterest | Life | UltimateRecovery | GrossReserves | NetReserves | Oil RevenueGas Revenue | Prod TaxAdv. Tax | ExpensesInvestments | Future NetCash Flow | Cash FlowDisc.@ 10.0 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Table | Class | Major | Well No. | Date | ASN | % | MBBL/MMCF | M / M | M / M | M / M | M | M | |||||||||
| WASSON NORTHEAST (CLEARFORK) — YOAKUM COUNTY, TEXAS | |||||||||||||||||||||
| EAST WASSON CLEARFORK UNIT | 100.0000 NI | **** | 3.0 | **** | 0.3 | **** | 0.3 | ||||||||||||||
| 127 | PDP | Oil | 137 | 0.0000 WI | **** | 10.1 | **** | 0.0 | **** | 0.0 | **** | 0.0 | |||||||||
| GRAND TOTAL | **** | 22,770.4 | **** | 3,381.2 | **** | 2,980.1 | |||||||||||||||
| **** | 43,947.4 | **** | 1,816.3 | **** | 1,598.0 |
All values are in US Dollars.
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | Scenario: YE2020 | 1/29/2021 : 4:04:05 PM |
|---|---|---|
| TEXAS REGISTERED ENGINEERING FIRM F-693. | ||
| Cawley, Gillespie & Associates, Inc. | ||
| Page 10 |
Rate-Time History-Forecast Curves
And
TabularReserves and Economics
By Property
Cawley, Gillespie & Associates, Inc.
Petroleum Consultants
Table 1
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— DEEP ROCK A & SHAFTER LAKE SADR
DEEP ROCK & SHAFTER LAKE (VARIOUS) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 2.319 | ||||||||||
| **** | 12-2022 | **** | 2.076 | ||||||||||
| **** | 12-2023 | **** | 1.863 | ||||||||||
| **** | 12-2024 | **** | 1.676 | ||||||||||
| **** | 12-2025 | **** | 1.512 | ||||||||||
| **** | 12-2026 | **** | 1.366 | ||||||||||
| **** | 12-2027 | **** | 1.237 | ||||||||||
| **** | 12-2028 | **** | 1.122 | ||||||||||
| **** | 12-2029 | **** | 1.019 | ||||||||||
| **** | 12-2030 | **** | 0.928 | ||||||||||
| **** | 12-2031 | **** | 0.846 | ||||||||||
| **** | 12-2032 | **** | 0.773 | ||||||||||
| **** | 12-2033 | **** | 0.708 | ||||||||||
| **** | 12-2034 | **** | 0.649 | ||||||||||
| **** | 12-2035 | **** | 0.595 | ||||||||||
| **** | S Tot | **** | 18.688 | ||||||||||
| **** | After | **** | 7.129 | ||||||||||
| **** | Total | **** | 25.818 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 607.640 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 455.317 |
| **** | Revenue | **** | 15.00 | **** | 368.690 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 312.443 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 272.810 |
| **** | 30.00 | **** | 243.295 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB136D00 | 12 Months in first year | ||||||||
| 50.000 Year Life (01/2071) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 28 | YE2020 01/29/2021 15:43:14 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 1 |
Cawley, Gillespie & Associates, Inc.
Table 2
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MILES B, MILES HAYDEN, SOUTHLAND
DEEP ROCK & WALLEN (VARIOUS) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.345 | ||||||||||
| **** | 12-2022 | **** | 0.327 | ||||||||||
| **** | 12-2023 | **** | 0.311 | ||||||||||
| **** | 12-2024 | **** | 0.295 | ||||||||||
| **** | 12-2025 | **** | 0.280 | ||||||||||
| **** | 12-2026 | **** | 0.267 | ||||||||||
| **** | 12-2027 | **** | 0.253 | ||||||||||
| **** | 12-2028 | **** | 0.241 | ||||||||||
| **** | 12-2029 | **** | 0.228 | ||||||||||
| **** | 12-2030 | **** | 0.217 | ||||||||||
| **** | 12-2031 | **** | 0.206 | ||||||||||
| **** | 12-2032 | **** | 0.196 | ||||||||||
| **** | 12-2033 | **** | 0.186 | ||||||||||
| **** | 12-2034 | **** | 0.177 | ||||||||||
| **** | 12-2035 | **** | 0.168 | ||||||||||
| **** | S Tot | **** | 3.697 | ||||||||||
| **** | After | **** | 2.574 | ||||||||||
| **** | Total | **** | 6.272 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 127.995 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 88.089 |
| **** | Revenue | **** | 15.00 | **** | 67.654 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 55.334 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 47.104 |
| **** | 30.00 | **** | 41.214 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12HE00 | 12 Months in first year | ||||||||
| 47.000 Year Life (01/2068) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 1 | YE2020 01/29/2021 15:43:15 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 2 |
Cawley, Gillespie & Associates, Inc.
Table 3
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— DOLLARHIDE & N. DOLLARHIDE UNITS
DOLLARHIDE (VARIOUS) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 3.810 | ||||||||||
| **** | 12-2022 | **** | 3.620 | ||||||||||
| **** | 12-2023 | **** | 3.438 | ||||||||||
| **** | 12-2024 | **** | 3.266 | ||||||||||
| **** | 12-2025 | **** | 3.103 | ||||||||||
| **** | 12-2026 | **** | 2.948 | ||||||||||
| **** | 12-2027 | **** | 2.801 | ||||||||||
| **** | 12-2028 | **** | 2.661 | ||||||||||
| **** | 12-2029 | **** | 2.528 | ||||||||||
| **** | 12-2030 | **** | 2.402 | ||||||||||
| **** | 12-2031 | **** | 2.281 | ||||||||||
| **** | 12-2032 | **** | 2.167 | ||||||||||
| **** | 12-2033 | **** | 2.059 | ||||||||||
| **** | 12-2034 | **** | 1.956 | ||||||||||
| **** | 12-2035 | **** | 1.858 | ||||||||||
| **** | S Tot | **** | 40.898 | ||||||||||
| **** | After | **** | 27.496 | ||||||||||
| **** | Total | **** | 68.394 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1,439.687 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 993.034 |
| **** | Revenue | **** | 15.00 | **** | 762.964 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 624.074 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 531.255 |
| **** | 30.00 | **** | 464.824 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13IE00 | 12 Months in first year | ||||||||
| 44.417 Year Life (06/2065) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 36 | YE2020 01/29/2021 15:43:15 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 3 |
Cawley, Gillespie & Associates, Inc.
Table 4
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
OXY USA WTP — FAST DOLLAR
DOLLARHIDE (CLEAR FORK) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.114 | ||||||||||
| **** | 12-2022 | **** | 0.074 | ||||||||||
| **** | 12-2023 | **** | 0.052 | ||||||||||
| **** | 12-2024 | **** | 0.038 | ||||||||||
| **** | 12-2025 | **** | 0.028 | ||||||||||
| **** | 12-2026 | **** | 0.015 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.321 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.321 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 10.914 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 10.038 |
| **** | Revenue | **** | 15.00 | **** | 9.307 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 8.689 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 8.160 |
| **** | 30.00 | **** | 7.704 | ||||||
| API: 4200347898 CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: UBELS8SE46 | 12 Months in first year | ||||||||
| 5.667 Year Life (09/2026) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 141 | YE2020 01/29/2021 15:43:15 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 4 |
Cawley, Gillespie & Associates, Inc.
Table 5
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
OXY USA WTP — QUICK DOLLAR
DOLLARHIDE (CLEAR FORK) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.158 | ||||||||||
| **** | 12-2022 | **** | 0.094 | ||||||||||
| **** | 12-2023 | **** | 0.062 | ||||||||||
| **** | 12-2024 | **** | 0.043 | ||||||||||
| **** | 12-2025 | **** | 0.032 | ||||||||||
| **** | 12-2026 | **** | 0.022 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.411 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.411 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 14.013 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 12.940 |
| **** | Revenue | **** | 15.00 | **** | 12.043 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 11.284 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 10.634 |
| **** | 30.00 | **** | 10.072 | ||||||
| API: 4200347899 CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: UBELSAID56 | 12 Months in first year | ||||||||
| 5.917 Year Life (12/2026) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 142 | YE2020 01/29/2021 15:43:15 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 5 |
Cawley, Gillespie & Associates, Inc.
Table 6
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— FULLERTON CLEARFORK UNIT
FULLERTON (CLEARFORK) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 1.855 | ||||||||||
| **** | 12-2022 | **** | 1.716 | ||||||||||
| **** | 12-2023 | **** | 1.587 | ||||||||||
| **** | 12-2024 | **** | 1.468 | ||||||||||
| **** | 12-2025 | **** | 1.358 | ||||||||||
| **** | 12-2026 | **** | 1.257 | ||||||||||
| **** | 12-2027 | **** | 1.163 | ||||||||||
| **** | 12-2028 | **** | 1.075 | ||||||||||
| **** | 12-2029 | **** | 0.994 | ||||||||||
| **** | 12-2030 | **** | 0.920 | ||||||||||
| **** | 12-2031 | **** | 0.851 | ||||||||||
| **** | 12-2032 | **** | 0.787 | ||||||||||
| **** | 12-2033 | **** | 0.728 | ||||||||||
| **** | 12-2034 | **** | 0.673 | ||||||||||
| **** | 12-2035 | **** | 0.623 | ||||||||||
| **** | S Tot | **** | 17.056 | ||||||||||
| **** | After | **** | 5.120 | ||||||||||
| **** | Total | **** | 22.176 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 618.511 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 461.076 |
| **** | Revenue | **** | 15.00 | **** | 368.674 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 308.779 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 267.011 |
| **** | 30.00 | **** | 236.263 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14AD00 | 12 Months in first year | ||||||||
| 29.083 Year Life (01/2050) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 57 | YE2020 01/29/2021 15:43:15 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 6 |
Cawley, Gillespie & Associates, Inc.
Table 7
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
RKG ENGINEERING COMPANY — MOBIL FEE #18-3 TRUST PRIMAL E
FULLERTON (WOLFCAMP) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB159D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 82 | YE2020 01/29/2021 15:43:15 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 7 |
Cawley, Gillespie & Associates, Inc.
Table 8
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— RALPH 3, 4, 6
FULLERTON (Various) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.049 | ||||||||||
| **** | 12-2022 | **** | 0.047 | ||||||||||
| **** | 12-2023 | **** | 0.043 | ||||||||||
| **** | 12-2024 | **** | 0.040 | ||||||||||
| **** | 12-2025 | **** | 0.037 | ||||||||||
| **** | 12-2026 | **** | 0.034 | ||||||||||
| **** | 12-2027 | **** | 0.033 | ||||||||||
| **** | 12-2028 | **** | 0.030 | ||||||||||
| **** | 12-2029 | **** | 0.028 | ||||||||||
| **** | 12-2030 | **** | 0.026 | ||||||||||
| **** | 12-2031 | **** | 0.024 | ||||||||||
| **** | 12-2032 | **** | 0.022 | ||||||||||
| **** | 12-2033 | **** | 0.021 | ||||||||||
| **** | 12-2034 | **** | 0.019 | ||||||||||
| **** | 12-2035 | **** | 0.018 | ||||||||||
| **** | S Tot | **** | 0.471 | ||||||||||
| **** | After | **** | 0.094 | ||||||||||
| **** | Total | **** | 0.565 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 16.771 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 12.707 |
| **** | Revenue | **** | 15.00 | **** | 10.209 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 8.554 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 7.389 |
| **** | 30.00 | **** | 6.530 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12AD00 | 12 Months in first year | ||||||||
| 21.917 Year Life (12/2042) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 20 | YE2020 01/29/2021 15:43:15 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 8 |
Cawley, Gillespie & Associates, Inc.
Table 9
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WILSON H M ‘A‘ & ‘B‘
FULLERTON (DEVONIAN & ELLENBURG) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.145 | ||||||||||
| **** | 12-2022 | **** | 0.139 | ||||||||||
| **** | 12-2023 | **** | 0.133 | ||||||||||
| **** | 12-2024 | **** | 0.127 | ||||||||||
| **** | 12-2025 | **** | 0.122 | ||||||||||
| **** | 12-2026 | **** | 0.115 | ||||||||||
| **** | 12-2027 | **** | 0.111 | ||||||||||
| **** | 12-2028 | **** | 0.106 | ||||||||||
| **** | 12-2029 | **** | 0.100 | ||||||||||
| **** | 12-2030 | **** | 0.096 | ||||||||||
| **** | 12-2031 | **** | 0.092 | ||||||||||
| **** | 12-2032 | **** | 0.088 | ||||||||||
| **** | 12-2033 | **** | 0.084 | ||||||||||
| **** | 12-2034 | **** | 0.080 | ||||||||||
| **** | 12-2035 | **** | 0.077 | ||||||||||
| **** | S Tot | **** | 1.616 | ||||||||||
| **** | After | **** | 1.300 | ||||||||||
| **** | Total | **** | 2.916 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 67.771 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 45.828 |
| **** | Revenue | **** | 15.00 | **** | 34.891 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 28.390 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 24.085 |
| **** | 30.00 | **** | 21.022 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13HE00 | 12 Months in first year | ||||||||
| 50.000 Year Life (01/2071) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 35 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 9 |
Cawley, Gillespie & Associates, Inc.
Table 10
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MEANS R M
MEANS (STRAWN, QUEEN, WOLFC) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB130D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 24 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 10 |
Cawley, Gillespie & Associates, Inc.
Table 11
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MEANS SAN ANDRES UNIT
MEANS (SAN ANDRES) FIELD — ANDREWS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 3.100 | ||||||||||
| **** | 12-2022 | **** | 2.948 | ||||||||||
| **** | 12-2023 | **** | 2.801 | ||||||||||
| **** | 12-2024 | **** | 2.661 | ||||||||||
| **** | 12-2025 | **** | 2.528 | ||||||||||
| **** | 12-2026 | **** | 2.402 | ||||||||||
| **** | 12-2027 | **** | 2.281 | ||||||||||
| **** | 12-2028 | **** | 2.167 | ||||||||||
| **** | 12-2029 | **** | 2.059 | ||||||||||
| **** | 12-2030 | **** | 1.956 | ||||||||||
| **** | 12-2031 | **** | 1.858 | ||||||||||
| **** | 12-2032 | **** | 1.765 | ||||||||||
| **** | 12-2033 | **** | 1.677 | ||||||||||
| **** | 12-2034 | **** | 1.594 | ||||||||||
| **** | 12-2035 | **** | 1.513 | ||||||||||
| **** | S Tot | **** | 33.309 | ||||||||||
| **** | After | **** | 22.585 | ||||||||||
| **** | Total | **** | 55.894 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1,147.327 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 790.900 |
| **** | Revenue | **** | 15.00 | **** | 607.570 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 496.936 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 423.006 |
| **** | 30.00 | **** | 370.095 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13VE00 | 12 Months in first year | ||||||||
| 45.000 Year Life (01/2066) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 44 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 11 |
Cawley, Gillespie & Associates, Inc.
Table 12
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— REINECKE UNIT & HOLBEIN I
REINECKE (Various) FIELD — BORDEN COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.056 | ||||||||||
| **** | 12-2022 | **** | 0.049 | ||||||||||
| **** | 12-2023 | **** | 0.044 | ||||||||||
| **** | 12-2024 | **** | 0.040 | ||||||||||
| **** | 12-2025 | **** | 0.036 | ||||||||||
| **** | 12-2026 | **** | 0.033 | ||||||||||
| **** | 12-2027 | **** | 0.030 | ||||||||||
| **** | 12-2028 | **** | 0.027 | ||||||||||
| **** | 12-2029 | **** | 0.025 | ||||||||||
| **** | 12-2030 | **** | 0.023 | ||||||||||
| **** | 12-2031 | **** | 0.021 | ||||||||||
| **** | 12-2032 | **** | 0.019 | ||||||||||
| **** | 12-2033 | **** | 0.018 | ||||||||||
| **** | 12-2034 | **** | 0.016 | ||||||||||
| **** | 12-2035 | **** | 0.015 | ||||||||||
| **** | S Tot | **** | 0.451 | ||||||||||
| **** | After | **** | 0.055 | ||||||||||
| **** | Total | **** | 0.506 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 20.247 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 15.858 |
| **** | Revenue | **** | 15.00 | **** | 13.038 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 11.106 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 9.714 |
| **** | 30.00 | **** | 8.667 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14DD00 | 12 Months in first year | ||||||||
| 19.417 Year Life (06/2040) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 75 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 12 |
Cawley, Gillespie & Associates, Inc.
Table 13
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SNEED H G & GILBERT
HASTINGS EAST FIELD — BRAZORIA COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.031 | ||||||||||
| **** | 12-2022 | **** | 0.027 | ||||||||||
| **** | 12-2023 | **** | 0.025 | ||||||||||
| **** | 12-2024 | **** | 0.022 | ||||||||||
| **** | 12-2025 | **** | 0.020 | ||||||||||
| **** | 12-2026 | **** | 0.018 | ||||||||||
| **** | 12-2027 | **** | 0.016 | ||||||||||
| **** | 12-2028 | **** | 0.015 | ||||||||||
| **** | 12-2029 | **** | 0.013 | ||||||||||
| **** | 12-2030 | **** | 0.011 | ||||||||||
| **** | 12-2031 | **** | 0.006 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.204 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.204 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 6.122 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 5.147 |
| **** | Revenue | **** | 15.00 | **** | 4.429 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 3.884 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 3.461 |
| **** | 30.00 | **** | 3.125 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15VE00 | 12 Months in first year | ||||||||
| 10.583 Year Life (07/2031) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 97 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 13 |
Cawley, Gillespie & Associates, Inc.
Table 14
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WEST HASTINGS UNIT & SNEED
HASTINGS WEST & EAST FIELD — BRAZORIA COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 3.688 | ||||||||||
| **** | 12-2022 | **** | 3.445 | ||||||||||
| **** | 12-2023 | **** | 3.226 | ||||||||||
| **** | 12-2024 | **** | 3.027 | ||||||||||
| **** | 12-2025 | **** | 2.845 | ||||||||||
| **** | 12-2026 | **** | 2.680 | ||||||||||
| **** | 12-2027 | **** | 2.529 | ||||||||||
| **** | 12-2028 | **** | 2.389 | ||||||||||
| **** | 12-2029 | **** | 2.262 | ||||||||||
| **** | 12-2030 | **** | 2.143 | ||||||||||
| **** | 12-2031 | **** | 2.035 | ||||||||||
| **** | 12-2032 | **** | 1.933 | ||||||||||
| **** | 12-2033 | **** | 1.837 | ||||||||||
| **** | 12-2034 | **** | 1.745 | ||||||||||
| **** | 12-2035 | **** | 1.658 | ||||||||||
| **** | S Tot | **** | 37.441 | ||||||||||
| **** | After | **** | 23.873 | ||||||||||
| **** | Total | **** | 61.314 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1,284.173 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 894.161 |
| **** | Revenue | **** | 15.00 | **** | 691.442 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 568.384 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 485.786 |
| **** | 30.00 | **** | 426.445 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB143D00 | 12 Months in first year | ||||||||
| 42.667 Year Life (09/2063) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 52 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 14 |
Cawley, Gillespie & Associates, Inc.
Table 15
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MAXWELL MAUDE, FRANK BOYD, OTHER
SHERIFF (VARIOUS) FIELD — CALHOUN COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15FD00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 86 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 15 |
Cawley, Gillespie & Associates, Inc.
Table 16
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
C & E OPERATING INC — TPIC
SHERIFF (GRETA 5700) FIELD — CALHOUN COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: 420573163100 CODE: 142,02 | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB174D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 132 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 16 |
Cawley, Gillespie & Associates, Inc.
Table 17
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— COCKRELL RANCH 2, 3, 4
PANHANDLE (WOLFCAMP GRANITEWASH) FIELD — CARSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: PAULJKLE4H | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 140 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 17 |
Cawley, Gillespie & Associates, Inc.
Table 18
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS EDWARDS CRANE COUNTY LEA
ARMER & CRAWAR (VARIOUS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.061 | ||||||||||
| **** | 12-2022 | **** | 0.058 | ||||||||||
| **** | 12-2023 | **** | 0.055 | ||||||||||
| **** | 12-2024 | **** | 0.052 | ||||||||||
| **** | 12-2025 | **** | 0.049 | ||||||||||
| **** | 12-2026 | **** | 0.047 | ||||||||||
| **** | 12-2027 | **** | 0.045 | ||||||||||
| **** | 12-2028 | **** | 0.042 | ||||||||||
| **** | 12-2029 | **** | 0.041 | ||||||||||
| **** | 12-2030 | **** | 0.038 | ||||||||||
| **** | 12-2031 | **** | 0.036 | ||||||||||
| **** | 12-2032 | **** | 0.034 | ||||||||||
| **** | 12-2033 | **** | 0.033 | ||||||||||
| **** | 12-2034 | **** | 0.031 | ||||||||||
| **** | 12-2035 | **** | 0.030 | ||||||||||
| **** | S Tot | **** | 0.651 | ||||||||||
| **** | After | **** | 0.358 | ||||||||||
| **** | Total | **** | 1.009 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 26.358 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 18.457 |
| **** | Revenue | **** | 15.00 | **** | 14.232 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 11.651 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 9.920 |
| **** | 30.00 | **** | 8.680 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12CD00 | 12 Months in first year | ||||||||
| 34.667 Year Life (09/2055) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 21 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 18 |
Cawley, Gillespie & Associates, Inc.
Table 19
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MCCLINTIC H L ETAL
MCELROY (BEND 8960) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.984 | ||||||||||
| **** | 12-2022 | **** | 0.900 | ||||||||||
| **** | 12-2023 | **** | 0.823 | ||||||||||
| **** | 12-2024 | **** | 0.754 | ||||||||||
| **** | 12-2025 | **** | 0.689 | ||||||||||
| **** | 12-2026 | **** | 0.631 | ||||||||||
| **** | 12-2027 | **** | 0.577 | ||||||||||
| **** | 12-2028 | **** | 0.528 | ||||||||||
| **** | 12-2029 | **** | 0.483 | ||||||||||
| **** | 12-2030 | **** | 0.442 | ||||||||||
| **** | 12-2031 | **** | 0.405 | ||||||||||
| **** | 12-2032 | **** | 0.370 | ||||||||||
| **** | 12-2033 | **** | 0.338 | ||||||||||
| **** | 12-2034 | **** | 0.310 | ||||||||||
| **** | 12-2035 | **** | 0.284 | ||||||||||
| **** | S Tot | **** | 8.518 | ||||||||||
| **** | After | **** | 1.869 | ||||||||||
| **** | Total | **** | 10.388 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 277.958 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 212.097 |
| **** | Revenue | **** | 15.00 | **** | 171.891 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 145.184 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 126.263 |
| **** | 30.00 | **** | 112.185 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB127D00 | 12 Months in first year | ||||||||
| 25.667 Year Life (09/2046) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 18 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 19 |
Cawley, Gillespie & Associates, Inc.
Table 20
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JUDKINS GAS UNIT 2
SAND HILLS (JUDKINS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 126.723 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 84.280 |
| **** | Revenue | **** | 15.00 | **** | 63.597 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 51.472 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 43.513 |
| **** | 30.00 | **** | 37.883 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12WE00 | 12 Months in first year | ||||||||
| 50.000 Year Life (01/2071) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 11 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 20 |
Cawley, Gillespie & Associates, Inc.
Table 21
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MCKNIGHT MB & MB A
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 9.697 | ||||||||||
| **** | 12-2022 | **** | 8.426 | ||||||||||
| **** | 12-2023 | **** | 7.409 | ||||||||||
| **** | 12-2024 | **** | 6.578 | ||||||||||
| **** | 12-2025 | **** | 5.892 | ||||||||||
| **** | 12-2026 | **** | 5.301 | ||||||||||
| **** | 12-2027 | **** | 4.771 | ||||||||||
| **** | 12-2028 | **** | 4.294 | ||||||||||
| **** | 12-2029 | **** | 3.865 | ||||||||||
| **** | 12-2030 | **** | 3.478 | ||||||||||
| **** | 12-2031 | **** | 3.131 | ||||||||||
| **** | 12-2032 | **** | 2.817 | ||||||||||
| **** | 12-2033 | **** | 2.536 | ||||||||||
| **** | 12-2034 | **** | 2.282 | ||||||||||
| **** | 12-2035 | **** | 2.054 | ||||||||||
| **** | S Tot | **** | 72.529 | ||||||||||
| **** | After | **** | 8.129 | ||||||||||
| **** | Total | **** | 80.658 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 2,288.170 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1,813.076 |
| **** | Revenue | **** | 15.00 | **** | 1,504.708 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1,291.416 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 1,136.149 |
| **** | 30.00 | **** | 1,018.402 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12IE00 | 12 Months in first year | ||||||||
| 20.500 Year Life (07/2041) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 2 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 21 |
Cawley, Gillespie & Associates, Inc.
Table 22
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MCKNIGHT MB B&C
SAND HILLS (MCKNIGHT) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB151E00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 100 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 22 |
Cawley, Gillespie & Associates, Inc.
Table 23
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— TUBB JB VARIOUS AND OTHER TUBB
SAND HILLS (VARIOUS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.341 | ||||||||||
| **** | 12-2022 | **** | 2.106 | ||||||||||
| **** | 12-2023 | **** | 1.896 | ||||||||||
| **** | 12-2024 | **** | 1.706 | ||||||||||
| **** | 12-2025 | **** | 1.535 | ||||||||||
| **** | 12-2026 | **** | 1.382 | ||||||||||
| **** | 12-2027 | **** | 1.244 | ||||||||||
| **** | 12-2028 | **** | 1.119 | ||||||||||
| **** | 12-2029 | **** | 1.007 | ||||||||||
| **** | 12-2030 | **** | 0.907 | ||||||||||
| **** | 12-2031 | **** | 0.816 | ||||||||||
| **** | 12-2032 | **** | 0.734 | ||||||||||
| **** | 12-2033 | **** | 0.661 | ||||||||||
| **** | 12-2034 | **** | 0.595 | ||||||||||
| **** | 12-2035 | **** | 0.536 | ||||||||||
| **** | S Tot | **** | 18.586 | ||||||||||
| **** | After | **** | 2.411 | ||||||||||
| **** | Total | **** | 20.997 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 963.328 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 757.461 |
| **** | Revenue | **** | 15.00 | **** | 625.194 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 534.320 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 468.471 |
| **** | 30.00 | **** | 418.701 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15OE00 | 12 Months in first year | ||||||||
| 21.583 Year Life (07/2042) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 101 | YE2020 01/29/2021 15:43:16 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 23 |
Cawley, Gillespie & Associates, Inc.
Table 24
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— TUBB JBA A & B
SAND HILLS (JUDKINS & TUBB) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.004 | ||||||||||
| **** | 12-2022 | **** | 0.004 | ||||||||||
| **** | 12-2023 | **** | 0.004 | ||||||||||
| **** | 12-2024 | **** | 0.004 | ||||||||||
| **** | 12-2025 | **** | 0.003 | ||||||||||
| **** | 12-2026 | **** | 0.003 | ||||||||||
| **** | 12-2027 | **** | 0.003 | ||||||||||
| **** | 12-2028 | **** | 0.003 | ||||||||||
| **** | 12-2029 | **** | 0.003 | ||||||||||
| **** | 12-2030 | **** | 0.003 | ||||||||||
| **** | 12-2031 | **** | 0.003 | ||||||||||
| **** | 12-2032 | **** | 0.002 | ||||||||||
| **** | 12-2033 | **** | 0.002 | ||||||||||
| **** | 12-2034 | **** | 0.002 | ||||||||||
| **** | 12-2035 | **** | 0.002 | ||||||||||
| **** | S Tot | **** | 0.040 | ||||||||||
| **** | After | **** | 0.026 | ||||||||||
| **** | Total | **** | 0.066 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 11.736 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 8.103 |
| **** | Revenue | **** | 15.00 | **** | 6.227 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 5.093 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 4.336 |
| **** | 30.00 | **** | 3.794 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12DD00 | 12 Months in first year | ||||||||
| 43.417 Year Life (06/2064) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 22 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 24 |
Cawley, Gillespie & Associates, Inc.
Table 25
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WADDELL W N (TRUST)
SAND HILLS (VARIOUS) FIELD — CRANE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15DD00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 102 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 25 |
Cawley, Gillespie & Associates, Inc.
Table 26
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS TODD PROPERTIES
TODD, TODD DEEP, DOUBLE R (CRINOIDAL, ELLENBRGR) FIELD — CROCKETT COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.257 | ||||||||||
| **** | 12-2022 | **** | 2.009 | ||||||||||
| **** | 12-2023 | **** | 1.788 | ||||||||||
| **** | 12-2024 | **** | 1.591 | ||||||||||
| **** | 12-2025 | **** | 1.416 | ||||||||||
| **** | 12-2026 | **** | 1.260 | ||||||||||
| **** | 12-2027 | **** | 1.122 | ||||||||||
| **** | 12-2028 | **** | 0.999 | ||||||||||
| **** | 12-2029 | **** | 0.888 | ||||||||||
| **** | 12-2030 | **** | 0.791 | ||||||||||
| **** | 12-2031 | **** | 0.704 | ||||||||||
| **** | 12-2032 | **** | 0.627 | ||||||||||
| **** | 12-2033 | **** | 0.558 | ||||||||||
| **** | 12-2034 | **** | 0.496 | ||||||||||
| **** | 12-2035 | **** | 0.442 | ||||||||||
| **** | S Tot | **** | 16.948 | ||||||||||
| **** | After | **** | 1.395 | ||||||||||
| **** | Total | **** | 18.343 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 514.673 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 411.935 |
| **** | Revenue | **** | 15.00 | **** | 343.861 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 296.086 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 260.952 |
| **** | 30.00 | **** | 234.118 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12FD00 | 12 Months in first year | ||||||||
| 19.250 Year Life (04/2040) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 23 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 26 |
Cawley, Gillespie & Associates, Inc.
Table 27
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BLAKENEY BH A,B,C, SUN & SMITH
COWDEN NORTH (DEEP) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.112 | ||||||||||
| **** | 12-2022 | **** | 0.105 | ||||||||||
| **** | 12-2023 | **** | 0.098 | ||||||||||
| **** | 12-2024 | **** | 0.092 | ||||||||||
| **** | 12-2025 | **** | 0.085 | ||||||||||
| **** | 12-2026 | **** | 0.080 | ||||||||||
| **** | 12-2027 | **** | 0.075 | ||||||||||
| **** | 12-2028 | **** | 0.071 | ||||||||||
| **** | 12-2029 | **** | 0.065 | ||||||||||
| **** | 12-2030 | **** | 0.062 | ||||||||||
| **** | 12-2031 | **** | 0.057 | ||||||||||
| **** | 12-2032 | **** | 0.054 | ||||||||||
| **** | 12-2033 | **** | 0.050 | ||||||||||
| **** | 12-2034 | **** | 0.047 | ||||||||||
| **** | 12-2035 | **** | 0.044 | ||||||||||
| **** | S Tot | **** | 1.096 | ||||||||||
| **** | After | **** | 0.473 | ||||||||||
| **** | Total | **** | 1.570 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 36.100 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 26.105 |
| **** | Revenue | **** | 15.00 | **** | 20.548 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 17.051 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 14.655 |
| **** | 30.00 | **** | 12.912 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13FD00 | 12 Months in first year | ||||||||
| 35.667 Year Life (09/2056) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 34 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 27 |
Cawley, Gillespie & Associates, Inc.
Table 28
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— COWDEN JM R/A A B & C
COWDEN NORTH (DEEP) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 6.023 | ||||||||||
| **** | 12-2022 | **** | 5.434 | ||||||||||
| **** | 12-2023 | **** | 4.949 | ||||||||||
| **** | 12-2024 | **** | 4.542 | ||||||||||
| **** | 12-2025 | **** | 4.179 | ||||||||||
| **** | 12-2026 | **** | 3.845 | ||||||||||
| **** | 12-2027 | **** | 3.537 | ||||||||||
| **** | 12-2028 | **** | 3.254 | ||||||||||
| **** | 12-2029 | **** | 2.993 | ||||||||||
| **** | 12-2030 | **** | 2.754 | ||||||||||
| **** | 12-2031 | **** | 2.534 | ||||||||||
| **** | 12-2032 | **** | 2.331 | ||||||||||
| **** | 12-2033 | **** | 2.144 | ||||||||||
| **** | 12-2034 | **** | 1.973 | ||||||||||
| **** | 12-2035 | **** | 1.815 | ||||||||||
| **** | S Tot | **** | 52.306 | ||||||||||
| **** | After | **** | 12.928 | ||||||||||
| **** | Total | **** | 65.234 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1,991.571 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1,507.888 |
| **** | Revenue | **** | 15.00 | **** | 1,216.774 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1,025.197 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 890.321 |
| **** | 30.00 | **** | 790.395 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13CD00 | 12 Months in first year | ||||||||
| 26.583 Year Life (07/2047) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 32 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 28 |
Cawley, Gillespie & Associates, Inc.
Table 29
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— NORTH COWDEN UNIT
COWDEN NORTH (Various) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.441 | ||||||||||
| **** | 12-2022 | **** | 1.355 | ||||||||||
| **** | 12-2023 | **** | 1.274 | ||||||||||
| **** | 12-2024 | **** | 1.197 | ||||||||||
| **** | 12-2025 | **** | 1.126 | ||||||||||
| **** | 12-2026 | **** | 1.058 | ||||||||||
| **** | 12-2027 | **** | 0.994 | ||||||||||
| **** | 12-2028 | **** | 0.934 | ||||||||||
| **** | 12-2029 | **** | 0.879 | ||||||||||
| **** | 12-2030 | **** | 0.826 | ||||||||||
| **** | 12-2031 | **** | 0.776 | ||||||||||
| **** | 12-2032 | **** | 0.730 | ||||||||||
| **** | 12-2033 | **** | 0.686 | ||||||||||
| **** | 12-2034 | **** | 0.644 | ||||||||||
| **** | 12-2035 | **** | 0.606 | ||||||||||
| **** | S Tot | **** | 14.525 | ||||||||||
| **** | After | **** | 7.110 | ||||||||||
| **** | Total | **** | 21.635 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 488.203 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 348.337 |
| **** | Revenue | **** | 15.00 | **** | 272.167 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 224.828 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 192.642 |
| **** | 30.00 | **** | 169.342 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13ED00 | 12 Months in first year | ||||||||
| 37.333 Year Life (04/2058) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 33 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 29 |
Cawley, Gillespie & Associates, Inc.
Table 30
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— FOSTER C & D
FOSTER (GRAYBURG) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.456 | ||||||||||
| **** | 12-2022 | **** | 0.412 | ||||||||||
| **** | 12-2023 | **** | 0.374 | ||||||||||
| **** | 12-2024 | **** | 0.338 | ||||||||||
| **** | 12-2025 | **** | 0.306 | ||||||||||
| **** | 12-2026 | **** | 0.277 | ||||||||||
| **** | 12-2027 | **** | 0.250 | ||||||||||
| **** | 12-2028 | **** | 0.227 | ||||||||||
| **** | 12-2029 | **** | 0.205 | ||||||||||
| **** | 12-2030 | **** | 0.186 | ||||||||||
| **** | 12-2031 | **** | 0.168 | ||||||||||
| **** | 12-2032 | **** | 0.152 | ||||||||||
| **** | 12-2033 | **** | 0.137 | ||||||||||
| **** | 12-2034 | **** | 0.124 | ||||||||||
| **** | 12-2035 | **** | 0.113 | ||||||||||
| **** | S Tot | **** | 3.726 | ||||||||||
| **** | After | **** | 0.545 | ||||||||||
| **** | Total | **** | 4.270 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 114.254 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 89.195 |
| **** | Revenue | **** | 15.00 | **** | 73.265 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 62.405 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 54.580 |
| **** | 30.00 | **** | 48.692 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB137D00 | 12 Months in first year | ||||||||
| 22.083 Year Life (01/2043) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 29 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 30 |
Cawley, Gillespie & Associates, Inc.
Table 31
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— GOLDSMITH SAN ANDRES UNIT
GOLDSMITH (SAN ANDRES) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.876 | ||||||||||
| **** | 12-2022 | **** | 1.698 | ||||||||||
| **** | 12-2023 | **** | 1.536 | ||||||||||
| **** | 12-2024 | **** | 1.391 | ||||||||||
| **** | 12-2025 | **** | 1.259 | ||||||||||
| **** | 12-2026 | **** | 1.139 | ||||||||||
| **** | 12-2027 | **** | 1.031 | ||||||||||
| **** | 12-2028 | **** | 0.932 | ||||||||||
| **** | 12-2029 | **** | 0.844 | ||||||||||
| **** | 12-2030 | **** | 0.764 | ||||||||||
| **** | 12-2031 | **** | 0.692 | ||||||||||
| **** | 12-2032 | **** | 0.626 | ||||||||||
| **** | 12-2033 | **** | 0.567 | ||||||||||
| **** | 12-2034 | **** | 0.512 | ||||||||||
| **** | 12-2035 | **** | 0.464 | ||||||||||
| **** | S Tot | **** | 15.330 | ||||||||||
| **** | After | **** | 2.414 | ||||||||||
| **** | Total | **** | 17.744 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 520.441 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 405.284 |
| **** | Revenue | **** | 15.00 | **** | 332.524 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 283.091 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 247.542 |
| **** | 30.00 | **** | 220.814 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB139D00 | 12 Months in first year | ||||||||
| 22.917 Year Life (12/2043) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 30 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 31 |
Cawley, Gillespie & Associates, Inc.
Table 32
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WEST JORDAN UNIT
JORDAN (Various) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | OilRevenue | GasRevenue | Total<br>Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.189 | ||||||||||
| **** | 12-2022 | **** | 0.160 | ||||||||||
| **** | 12-2023 | **** | 0.136 | ||||||||||
| **** | 12-2024 | **** | 0.115 | ||||||||||
| **** | 12-2025 | **** | 0.097 | ||||||||||
| **** | 12-2026 | **** | 0.082 | ||||||||||
| **** | 12-2027 | **** | 0.069 | ||||||||||
| **** | 12-2028 | **** | 0.058 | ||||||||||
| **** | 12-2029 | **** | 0.049 | ||||||||||
| **** | 12-2030 | **** | 0.041 | ||||||||||
| **** | 12-2031 | **** | 0.035 | ||||||||||
| **** | 12-2032 | **** | 0.030 | ||||||||||
| **** | 12-2033 | **** | 0.026 | ||||||||||
| **** | 12-2034 | **** | 0.013 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 1.101 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 1.101 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 33.645 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 28.427 |
| **** | Revenue | **** | 15.00 | **** | 24.643 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 21.799 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 19.598 |
| **** | 30.00 | **** | 17.850 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB134D00 | 12 Months in first year | ||||||||
| 13.583 Year Life (07/2034) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 27 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 32 |
Cawley, Gillespie & Associates, Inc.
Table 33
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CONNELL W E VARIOUS
JORDAN, PENWELL (VARIOUS) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.019 | ||||||||||
| **** | 12-2022 | **** | 0.018 | ||||||||||
| **** | 12-2023 | **** | 0.017 | ||||||||||
| **** | 12-2024 | **** | 0.015 | ||||||||||
| **** | 12-2025 | **** | 0.014 | ||||||||||
| **** | 12-2026 | **** | 0.013 | ||||||||||
| **** | 12-2027 | **** | 0.012 | ||||||||||
| **** | 12-2028 | **** | 0.011 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.120 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.120 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 3.705 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 3.194 |
| **** | Revenue | **** | 15.00 | **** | 2.799 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 2.487 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 2.237 |
| **** | 30.00 | **** | 2.034 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB160D00 | 12 Months in first year | ||||||||
| 8.000 Year Life (01/2029) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 103 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 33 |
Cawley, Gillespie & Associates, Inc.
Table 34
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— PENWELL UNIT
PENWELL (CLEARFORK) FIELD — ECTOR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.291 | ||||||||||
| **** | 12-2022 | **** | 0.272 | ||||||||||
| **** | 12-2023 | **** | 0.254 | ||||||||||
| **** | 12-2024 | **** | 0.238 | ||||||||||
| **** | 12-2025 | **** | 0.222 | ||||||||||
| **** | 12-2026 | **** | 0.208 | ||||||||||
| **** | 12-2027 | **** | 0.194 | ||||||||||
| **** | 12-2028 | **** | 0.182 | ||||||||||
| **** | 12-2029 | **** | 0.170 | ||||||||||
| **** | 12-2030 | **** | 0.159 | ||||||||||
| **** | 12-2031 | **** | 0.149 | ||||||||||
| **** | 12-2032 | **** | 0.139 | ||||||||||
| **** | 12-2033 | **** | 0.130 | ||||||||||
| **** | 12-2034 | **** | 0.122 | ||||||||||
| **** | 12-2035 | **** | 0.114 | ||||||||||
| **** | S Tot | **** | 2.842 | ||||||||||
| **** | After | **** | 1.162 | ||||||||||
| **** | Total | **** | 4.004 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 93.821 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 68.073 |
| **** | Revenue | **** | 15.00 | **** | 53.632 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 44.517 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 38.265 |
| **** | 30.00 | **** | 33.712 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB133D00 | 12 Months in first year | ||||||||
| 33.500 Year Life (07/2054) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 26 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 34 |
Cawley, Gillespie & Associates, Inc.
Table 35
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CEDAR LAKE UNIT & BREMONT
CEDAR LAKE (SILURIAN) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.463 | ||||||||||
| **** | 12-2022 | **** | 2.327 | ||||||||||
| **** | 12-2023 | **** | 2.199 | ||||||||||
| **** | 12-2024 | **** | 2.077 | ||||||||||
| **** | 12-2025 | **** | 1.964 | ||||||||||
| **** | 12-2026 | **** | 1.855 | ||||||||||
| **** | 12-2027 | **** | 1.754 | ||||||||||
| **** | 12-2028 | **** | 1.657 | ||||||||||
| **** | 12-2029 | **** | 1.566 | ||||||||||
| **** | 12-2030 | **** | 1.480 | ||||||||||
| **** | 12-2031 | **** | 1.399 | ||||||||||
| **** | 12-2032 | **** | 1.321 | ||||||||||
| **** | 12-2033 | **** | 1.249 | ||||||||||
| **** | 12-2034 | **** | 1.180 | ||||||||||
| **** | 12-2035 | **** | 1.115 | ||||||||||
| **** | S Tot | **** | 25.605 | ||||||||||
| **** | After | **** | 14.676 | ||||||||||
| **** | Total | **** | 40.281 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 864.602 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 606.894 |
| **** | Revenue | **** | 15.00 | **** | 470.302 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 386.622 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 330.211 |
| **** | 30.00 | **** | 289.605 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13SE00 | 12 Months in first year | ||||||||
| 40.667 Year Life (09/2061) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 42 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 35 |
Cawley, Gillespie & Associates, Inc.
Table 36
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JENKINS UNIT, PROCTOR, NOLLEY WL
JENKINS, BAKER, NOLLEY (SAN ANDRES & WLFCMP) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.077 | ||||||||||
| **** | 12-2022 | **** | 1.984 | ||||||||||
| **** | 12-2023 | **** | 1.895 | ||||||||||
| **** | 12-2024 | **** | 1.809 | ||||||||||
| **** | 12-2025 | **** | 1.728 | ||||||||||
| **** | 12-2026 | **** | 1.650 | ||||||||||
| **** | 12-2027 | **** | 1.576 | ||||||||||
| **** | 12-2028 | **** | 1.505 | ||||||||||
| **** | 12-2029 | **** | 1.437 | ||||||||||
| **** | 12-2030 | **** | 1.372 | ||||||||||
| **** | 12-2031 | **** | 1.311 | ||||||||||
| **** | 12-2032 | **** | 1.252 | ||||||||||
| **** | 12-2033 | **** | 1.195 | ||||||||||
| **** | 12-2034 | **** | 1.141 | ||||||||||
| **** | 12-2035 | **** | 1.090 | ||||||||||
| **** | S Tot | **** | 23.024 | ||||||||||
| **** | After | **** | 18.522 | ||||||||||
| **** | Total | **** | 41.546 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 822.417 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 556.136 |
| **** | Revenue | **** | 15.00 | **** | 423.408 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 344.525 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 292.279 |
| **** | 30.00 | **** | 255.108 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13QE00 | 12 Months in first year | ||||||||
| 50.000 Year Life (01/2071) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 41 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 36 |
Cawley, Gillespie & Associates, Inc.
Table 37
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— AVERITT & RILEY TS
SEMINOLE (SAN ANGELO) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.253 | ||||||||||
| **** | 12-2022 | **** | 0.241 | ||||||||||
| **** | 12-2023 | **** | 0.228 | ||||||||||
| **** | 12-2024 | **** | 0.217 | ||||||||||
| **** | 12-2025 | **** | 0.206 | ||||||||||
| **** | 12-2026 | **** | 0.196 | ||||||||||
| **** | 12-2027 | **** | 0.186 | ||||||||||
| **** | 12-2028 | **** | 0.177 | ||||||||||
| **** | 12-2029 | **** | 0.168 | ||||||||||
| **** | 12-2030 | **** | 0.160 | ||||||||||
| **** | 12-2031 | **** | 0.152 | ||||||||||
| **** | 12-2032 | **** | 0.144 | ||||||||||
| **** | 12-2033 | **** | 0.137 | ||||||||||
| **** | 12-2034 | **** | 0.130 | ||||||||||
| **** | 12-2035 | **** | 0.123 | ||||||||||
| **** | S Tot | **** | 2.716 | ||||||||||
| **** | After | **** | 1.935 | ||||||||||
| **** | Total | **** | 4.651 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 93.962 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 64.579 |
| **** | Revenue | **** | 15.00 | **** | 49.588 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 40.557 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 34.524 |
| **** | 30.00 | **** | 30.207 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13NE00 | 12 Months in first year | ||||||||
| 48.917 Year Life (12/2069) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 39 | YE2020 01/29/2021 15:43:17 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 37 |
Cawley, Gillespie & Associates, Inc.
Table 38
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SEMINOLE SAN ANDRES & DEEP UNITS
SEMINOLE (SAN ANDRES & DEEP) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 6.073 | ||||||||||
| **** | 12-2022 | **** | 5.814 | ||||||||||
| **** | 12-2023 | **** | 5.553 | ||||||||||
| **** | 12-2024 | **** | 5.302 | ||||||||||
| **** | 12-2025 | **** | 5.064 | ||||||||||
| **** | 12-2026 | **** | 4.836 | ||||||||||
| **** | 12-2027 | **** | 4.618 | ||||||||||
| **** | 12-2028 | **** | 4.410 | ||||||||||
| **** | 12-2029 | **** | 4.212 | ||||||||||
| **** | 12-2030 | **** | 4.023 | ||||||||||
| **** | 12-2031 | **** | 3.842 | ||||||||||
| **** | 12-2032 | **** | 3.668 | ||||||||||
| **** | 12-2033 | **** | 3.503 | ||||||||||
| **** | 12-2034 | **** | 3.346 | ||||||||||
| **** | 12-2035 | **** | 3.195 | ||||||||||
| **** | S Tot | **** | 67.459 | ||||||||||
| **** | After | **** | 54.278 | ||||||||||
| **** | Total | **** | 121.737 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 2,374.315 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1,605.383 |
| **** | Revenue | **** | 15.00 | **** | 1,222.106 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 994.319 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 843.452 |
| **** | 30.00 | **** | 736.117 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13LE00 | 12 Months in first year | ||||||||
| 50.000 Year Life (01/2071) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 38 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 38 |
Cawley, Gillespie & Associates, Inc.
Table 39
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS SEMINOLE PROPERTIES
SEMINOLE (SADR, WFCMP, DEVON) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13PE00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 40 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 39 |
Cawley, Gillespie & Associates, Inc.
Table 40
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— W SEMINOLE SA UNIT & VARIOUS PRO
SEMINOLE WEST (VARIOUS) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 5.924 | ||||||||||
| **** | 12-2022 | **** | 5.245 | ||||||||||
| **** | 12-2023 | **** | 4.701 | ||||||||||
| **** | 12-2024 | **** | 4.254 | ||||||||||
| **** | 12-2025 | **** | 3.882 | ||||||||||
| **** | 12-2026 | **** | 3.568 | ||||||||||
| **** | 12-2027 | **** | 3.298 | ||||||||||
| **** | 12-2028 | **** | 3.065 | ||||||||||
| **** | 12-2029 | **** | 2.861 | ||||||||||
| **** | 12-2030 | **** | 2.682 | ||||||||||
| **** | 12-2031 | **** | 2.522 | ||||||||||
| **** | 12-2032 | **** | 2.381 | ||||||||||
| **** | 12-2033 | **** | 2.253 | ||||||||||
| **** | 12-2034 | **** | 2.137 | ||||||||||
| **** | 12-2035 | **** | 2.031 | ||||||||||
| **** | S Tot | **** | 50.804 | ||||||||||
| **** | After | **** | 25.606 | ||||||||||
| **** | Total | **** | 76.411 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1,712.423 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1,234.612 |
| **** | Revenue | **** | 15.00 | **** | 975.876 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 815.048 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 705.266 |
| **** | 30.00 | **** | 625.319 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13KE00 | 12 Months in first year | ||||||||
| 36.250 Year Life (04/2057) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 37 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 40 |
Cawley, Gillespie & Associates, Inc.
Table 41
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— GAINES WASSON CLEARFORK UNIT & B
WASSON 72 (Various) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.250 | ||||||||||
| **** | 12-2022 | **** | 2.070 | ||||||||||
| **** | 12-2023 | **** | 1.905 | ||||||||||
| **** | 12-2024 | **** | 1.752 | ||||||||||
| **** | 12-2025 | **** | 1.612 | ||||||||||
| **** | 12-2026 | **** | 1.483 | ||||||||||
| **** | 12-2027 | **** | 1.364 | ||||||||||
| **** | 12-2028 | **** | 1.255 | ||||||||||
| **** | 12-2029 | **** | 1.155 | ||||||||||
| **** | 12-2030 | **** | 1.062 | ||||||||||
| **** | 12-2031 | **** | 0.977 | ||||||||||
| **** | 12-2032 | **** | 0.899 | ||||||||||
| **** | 12-2033 | **** | 0.828 | ||||||||||
| **** | 12-2034 | **** | 0.761 | ||||||||||
| **** | 12-2035 | **** | 0.701 | ||||||||||
| **** | S Tot | **** | 20.075 | ||||||||||
| **** | After | **** | 5.153 | ||||||||||
| **** | Total | **** | 25.228 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 630.926 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 476.075 |
| **** | Revenue | **** | 15.00 | **** | 383.307 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 322.415 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 279.610 |
| **** | 30.00 | **** | 247.928 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13WE00 | 12 Months in first year | ||||||||
| 27.250 Year Life (04/2048) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 45 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 41 |
Cawley, Gillespie & Associates, Inc.
Table 42
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WASSON SOUTH CLEARFORK UNIT
WASSON 72 (Various) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.139 | ||||||||||
| **** | 12-2022 | **** | 1.048 | ||||||||||
| **** | 12-2023 | **** | 0.963 | ||||||||||
| **** | 12-2024 | **** | 0.887 | ||||||||||
| **** | 12-2025 | **** | 0.815 | ||||||||||
| **** | 12-2026 | **** | 0.750 | ||||||||||
| **** | 12-2027 | **** | 0.690 | ||||||||||
| **** | 12-2028 | **** | 0.635 | ||||||||||
| **** | 12-2029 | **** | 0.584 | ||||||||||
| **** | 12-2030 | **** | 0.538 | ||||||||||
| **** | 12-2031 | **** | 0.494 | ||||||||||
| **** | 12-2032 | **** | 0.455 | ||||||||||
| **** | 12-2033 | **** | 0.419 | ||||||||||
| **** | 12-2034 | **** | 0.385 | ||||||||||
| **** | 12-2035 | **** | 0.354 | ||||||||||
| **** | S Tot | **** | 10.157 | ||||||||||
| **** | After | **** | 2.556 | ||||||||||
| **** | Total | **** | 12.713 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 318.555 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 240.608 |
| **** | Revenue | **** | 15.00 | **** | 193.796 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 163.032 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 141.394 |
| **** | 30.00 | **** | 125.376 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13TE00 | 12 Months in first year | ||||||||
| 26.833 Year Life (10/2047) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 43 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 42 |
Cawley, Gillespie & Associates, Inc.
Table 43
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WASSON 48 (TRUST)
WASSON SOUTH (WICHITA ALBANY) FIELD — GAINES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.082 | ||||||||||
| **** | 12-2022 | **** | 0.078 | ||||||||||
| **** | 12-2023 | **** | 0.072 | ||||||||||
| **** | 12-2024 | **** | 0.068 | ||||||||||
| **** | 12-2025 | **** | 0.064 | ||||||||||
| **** | 12-2026 | **** | 0.060 | ||||||||||
| **** | 12-2027 | **** | 0.056 | ||||||||||
| **** | 12-2028 | **** | 0.053 | ||||||||||
| **** | 12-2029 | **** | 0.050 | ||||||||||
| **** | 12-2030 | **** | 0.047 | ||||||||||
| **** | 12-2031 | **** | 0.044 | ||||||||||
| **** | 12-2032 | **** | 0.041 | ||||||||||
| **** | 12-2033 | **** | 0.039 | ||||||||||
| **** | 12-2034 | **** | 0.037 | ||||||||||
| **** | 12-2035 | **** | 0.034 | ||||||||||
| **** | S Tot | **** | 0.826 | ||||||||||
| **** | After | **** | 0.371 | ||||||||||
| **** | Total | **** | 1.197 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 27.252 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 19.562 |
| **** | Revenue | **** | 15.00 | **** | 15.309 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 12.652 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 10.842 |
| **** | 30.00 | **** | 9.531 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB161D00 | 12 Months in first year | ||||||||
| 33.667 Year Life (09/2054) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 104 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 43 |
Cawley, Gillespie & Associates, Inc.
Table 44
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— COMBS, COMBS & WORLEY, OTHER GRA
PANHANDLE GRAY COUNTY FIELD — GRAY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.842 | ||||||||||
| **** | 12-2022 | **** | 0.787 | ||||||||||
| **** | 12-2023 | **** | 0.736 | ||||||||||
| **** | 12-2024 | **** | 0.688 | ||||||||||
| **** | 12-2025 | **** | 0.643 | ||||||||||
| **** | 12-2026 | **** | 0.601 | ||||||||||
| **** | 12-2027 | **** | 0.562 | ||||||||||
| **** | 12-2028 | **** | 0.526 | ||||||||||
| **** | 12-2029 | **** | 0.492 | ||||||||||
| **** | 12-2030 | **** | 0.460 | ||||||||||
| **** | 12-2031 | **** | 0.430 | ||||||||||
| **** | 12-2032 | **** | 0.402 | ||||||||||
| **** | 12-2033 | **** | 0.375 | ||||||||||
| **** | 12-2034 | **** | 0.352 | ||||||||||
| **** | 12-2035 | **** | 0.329 | ||||||||||
| **** | S Tot | **** | 8.226 | ||||||||||
| **** | After | **** | 3.472 | ||||||||||
| **** | Total | **** | 11.697 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 325.548 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 235.925 |
| **** | Revenue | **** | 15.00 | **** | 185.867 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 154.308 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 132.661 |
| **** | 30.00 | **** | 116.898 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB163D00 | 12 Months in first year | ||||||||
| 34.750 Year Life (10/2055) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 105 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 44 |
Cawley, Gillespie & Associates, Inc.
Table 45
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— PANHANDLE GRAY COUNTY VARIOUS
PANHANDLE GRAY COUNTY (VARIOUS) FIELD — GRAY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.029 | ||||||||||
| **** | 12-2022 | **** | 0.026 | ||||||||||
| **** | 12-2023 | **** | 0.022 | ||||||||||
| **** | 12-2024 | **** | 0.020 | ||||||||||
| **** | 12-2025 | **** | 0.018 | ||||||||||
| **** | 12-2026 | **** | 0.016 | ||||||||||
| **** | 12-2027 | **** | 0.014 | ||||||||||
| **** | 12-2028 | **** | 0.012 | ||||||||||
| **** | 12-2029 | **** | 0.007 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.164 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.164 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 7.377 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 6.365 |
| **** | Revenue | **** | 15.00 | **** | 5.587 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 4.977 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 4.489 |
| **** | 30.00 | **** | 4.093 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB130E00 | 12 Months in first year | ||||||||
| 8.667 Year Life (09/2029) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 46 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 45 |
Cawley, Gillespie & Associates, Inc.
Table 46
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BIG MINERAL CREEK UNITS
BIG MINERAL CREEK (VARIOUS) FIELD — GRAYSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.267 | ||||||||||
| **** | 12-2022 | **** | 0.252 | ||||||||||
| **** | 12-2023 | **** | 0.239 | ||||||||||
| **** | 12-2024 | **** | 0.226 | ||||||||||
| **** | 12-2025 | **** | 0.213 | ||||||||||
| **** | 12-2026 | **** | 0.201 | ||||||||||
| **** | 12-2027 | **** | 0.190 | ||||||||||
| **** | 12-2028 | **** | 0.180 | ||||||||||
| **** | 12-2029 | **** | 0.170 | ||||||||||
| **** | 12-2030 | **** | 0.160 | ||||||||||
| **** | 12-2031 | **** | 0.152 | ||||||||||
| **** | 12-2032 | **** | 0.144 | ||||||||||
| **** | 12-2033 | **** | 0.136 | ||||||||||
| **** | 12-2034 | **** | 0.128 | ||||||||||
| **** | 12-2035 | **** | 0.121 | ||||||||||
| **** | S Tot | **** | 2.778 | ||||||||||
| **** | After | **** | 1.518 | ||||||||||
| **** | Total | **** | 4.296 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 100.049 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 70.457 |
| **** | Revenue | **** | 15.00 | **** | 54.640 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 44.926 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 38.372 |
| **** | 30.00 | **** | 33.654 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB144D00 | 12 Months in first year | ||||||||
| 38.167 Year Life (03/2059) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 53 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 46 |
Cawley, Gillespie & Associates, Inc.
Table 47
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SOUTHLAND UNIT 1H
BIG MINERAL CREEK (WOODFORD) FIELD — GRAYSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.013 | ||||||||||
| **** | 12-2022 | **** | 0.011 | ||||||||||
| **** | 12-2023 | **** | 0.001 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.026 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.026 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1.662 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1.589 |
| **** | Revenue | **** | 15.00 | **** | 1.523 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1.464 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 1.410 |
| **** | 30.00 | **** | 1.361 | ||||||
| API: 4218131510 CODE: 14209003 | |||||||||
| --- | --- | ||||||||
| PROPNUM: PAULJIHB3H | 12 Months in first year | ||||||||
| 2.083 Year Life (01/2023) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 139 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 47 |
Cawley, Gillespie & Associates, Inc.
Table 48
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BROWN BETH-KIMBELL-BELL UNITS
SHERMAN EAST (PENN 7100) FIELD — GRAYSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.519 | ||||||||||
| **** | 12-2022 | **** | 0.495 | ||||||||||
| **** | 12-2023 | **** | 0.473 | ||||||||||
| **** | 12-2024 | **** | 0.452 | ||||||||||
| **** | 12-2025 | **** | 0.432 | ||||||||||
| **** | 12-2026 | **** | 0.412 | ||||||||||
| **** | 12-2027 | **** | 0.394 | ||||||||||
| **** | 12-2028 | **** | 0.376 | ||||||||||
| **** | 12-2029 | **** | 0.359 | ||||||||||
| **** | 12-2030 | **** | 0.343 | ||||||||||
| **** | 12-2031 | **** | 0.328 | ||||||||||
| **** | 12-2032 | **** | 0.313 | ||||||||||
| **** | 12-2033 | **** | 0.299 | ||||||||||
| **** | 12-2034 | **** | 0.286 | ||||||||||
| **** | 12-2035 | **** | 0.272 | ||||||||||
| **** | S Tot | **** | 5.754 | ||||||||||
| **** | After | **** | 4.628 | ||||||||||
| **** | Total | **** | 10.382 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 243.873 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 164.912 |
| **** | Revenue | **** | 15.00 | **** | 125.554 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 102.163 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 86.670 |
| **** | 30.00 | **** | 75.648 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB146D00 | 12 Months in first year | ||||||||
| 50.000 Year Life (01/2071) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 54 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 48 |
Cawley, Gillespie & Associates, Inc.
Table 49
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— FOSTER HL & WE JONES
AIRSTRIP (BONE SPRINGS) FIELD — GREGG COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.136 | ||||||||||
| **** | 12-2022 | **** | 0.128 | ||||||||||
| **** | 12-2023 | **** | 0.120 | ||||||||||
| **** | 12-2024 | **** | 0.113 | ||||||||||
| **** | 12-2025 | **** | 0.106 | ||||||||||
| **** | 12-2026 | **** | 0.100 | ||||||||||
| **** | 12-2027 | **** | 0.093 | ||||||||||
| **** | 12-2028 | **** | 0.088 | ||||||||||
| **** | 12-2029 | **** | 0.083 | ||||||||||
| **** | 12-2030 | **** | 0.078 | ||||||||||
| **** | 12-2031 | **** | 0.073 | ||||||||||
| **** | 12-2032 | **** | 0.069 | ||||||||||
| **** | 12-2033 | **** | 0.064 | ||||||||||
| **** | 12-2034 | **** | 0.061 | ||||||||||
| **** | 12-2035 | **** | 0.057 | ||||||||||
| **** | S Tot | **** | 1.368 | ||||||||||
| **** | After | **** | 0.723 | ||||||||||
| **** | Total | **** | 2.091 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 45.644 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 32.409 |
| **** | Revenue | **** | 15.00 | **** | 25.294 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 20.890 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 17.898 |
| **** | 30.00 | **** | 15.733 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB13OE00 | 12 Months in first year | ||||||||
| 41.750 Year Life (10/2062) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 48 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 49 |
Cawley, Gillespie & Associates, Inc.
Table 50
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— LAWRENCE HM
EAST TEXAS FIELD — GREGG COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.284 | ||||||||||
| **** | 12-2022 | **** | 0.268 | ||||||||||
| **** | 12-2023 | **** | 0.253 | ||||||||||
| **** | 12-2024 | **** | 0.239 | ||||||||||
| **** | 12-2025 | **** | 0.227 | ||||||||||
| **** | 12-2026 | **** | 0.213 | ||||||||||
| **** | 12-2027 | **** | 0.202 | ||||||||||
| **** | 12-2028 | **** | 0.191 | ||||||||||
| **** | 12-2029 | **** | 0.181 | ||||||||||
| **** | 12-2030 | **** | 0.170 | ||||||||||
| **** | 12-2031 | **** | 0.161 | ||||||||||
| **** | 12-2032 | **** | 0.152 | ||||||||||
| **** | 12-2033 | **** | 0.144 | ||||||||||
| **** | 12-2034 | **** | 0.136 | ||||||||||
| **** | 12-2035 | **** | 0.129 | ||||||||||
| **** | S Tot | **** | 2.949 | ||||||||||
| **** | After | **** | 1.647 | ||||||||||
| **** | Total | **** | 4.596 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 105.481 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 74.170 |
| **** | Revenue | **** | 15.00 | **** | 57.500 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 47.273 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 40.376 |
| **** | 30.00 | **** | 35.411 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB141D00 | 12 Months in first year | ||||||||
| 39.250 Year Life (04/2060) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 51 | YE2020 01/29/2021 15:43:18 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 50 |
Cawley, Gillespie & Associates, Inc.
Table 51
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MOORE BOSTON
EAST TEXAS FIELD — GREGG COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.048 | ||||||||||
| **** | 12-2022 | **** | 0.041 | ||||||||||
| **** | 12-2023 | **** | 0.035 | ||||||||||
| **** | 12-2024 | **** | 0.031 | ||||||||||
| **** | 12-2025 | **** | 0.027 | ||||||||||
| **** | 12-2026 | **** | 0.024 | ||||||||||
| **** | 12-2027 | **** | 0.021 | ||||||||||
| **** | 12-2028 | **** | 0.019 | ||||||||||
| **** | 12-2029 | **** | 0.018 | ||||||||||
| **** | 12-2030 | **** | 0.016 | ||||||||||
| **** | 12-2031 | **** | 0.014 | ||||||||||
| **** | 12-2032 | **** | 0.013 | ||||||||||
| **** | 12-2033 | **** | 0.012 | ||||||||||
| **** | 12-2034 | **** | 0.011 | ||||||||||
| **** | 12-2035 | **** | 0.004 | ||||||||||
| **** | S Tot | **** | 0.337 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.337 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 9.988 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 8.192 |
| **** | Revenue | **** | 15.00 | **** | 6.944 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 6.041 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 5.363 |
| **** | 30.00 | **** | 4.838 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB140D00 | 12 Months in first year | ||||||||
| 14.417 Year Life (06/2035) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 50 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 51 |
Cawley, Gillespie & Associates, Inc.
Table 52
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS EAST TEXAS PROPERTIES
EAST TEXAS & OTHERS (VARIOUS) FIELD — GREGG COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.373 | ||||||||||
| **** | 12-2022 | **** | 0.328 | ||||||||||
| **** | 12-2023 | **** | 0.291 | ||||||||||
| **** | 12-2024 | **** | 0.260 | ||||||||||
| **** | 12-2025 | **** | 0.234 | ||||||||||
| **** | 12-2026 | **** | 0.210 | ||||||||||
| **** | 12-2027 | **** | 0.189 | ||||||||||
| **** | 12-2028 | **** | 0.170 | ||||||||||
| **** | 12-2029 | **** | 0.153 | ||||||||||
| **** | 12-2030 | **** | 0.137 | ||||||||||
| **** | 12-2031 | **** | 0.124 | ||||||||||
| **** | 12-2032 | **** | 0.112 | ||||||||||
| **** | 12-2033 | **** | 0.100 | ||||||||||
| **** | 12-2034 | **** | 0.091 | ||||||||||
| **** | 12-2035 | **** | 0.081 | ||||||||||
| **** | S Tot | **** | 2.853 | ||||||||||
| **** | After | **** | 0.333 | ||||||||||
| **** | Total | **** | 3.186 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 104.375 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 82.487 |
| **** | Revenue | **** | 15.00 | **** | 68.320 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 58.541 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 51.433 |
| **** | 30.00 | **** | 46.049 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB131E00 | 12 Months in first year | ||||||||
| 20.750 Year Life (10/2041) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 47 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 52 |
Cawley, Gillespie & Associates, Inc.
Table 53
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— DAVIS JD E GAS UNIT
WILLOW SPRINGS (VARIOUS) FIELD — GREGG COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 8.601 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 7.051 |
| **** | Revenue | **** | 15.00 | **** | 5.980 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 5.205 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 4.622 |
| **** | 30.00 | **** | 4.170 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB164D00 | 12 Months in first year | ||||||||
| 16.250 Year Life (04/2037) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 106 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 53 |
Cawley, Gillespie & Associates, Inc.
Table 54
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— ANTON-IRISH CLEARFORK UNIT
ANTON-IRISH (CLEARFORK) FIELD — HALE COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.311 | ||||||||||
| **** | 12-2022 | **** | 1.219 | ||||||||||
| **** | 12-2023 | **** | 1.134 | ||||||||||
| **** | 12-2024 | **** | 1.054 | ||||||||||
| **** | 12-2025 | **** | 0.981 | ||||||||||
| **** | 12-2026 | **** | 0.912 | ||||||||||
| **** | 12-2027 | **** | 0.848 | ||||||||||
| **** | 12-2028 | **** | 0.789 | ||||||||||
| **** | 12-2029 | **** | 0.733 | ||||||||||
| **** | 12-2030 | **** | 0.682 | ||||||||||
| **** | 12-2031 | **** | 0.635 | ||||||||||
| **** | 12-2032 | **** | 0.591 | ||||||||||
| **** | 12-2033 | **** | 0.549 | ||||||||||
| **** | 12-2034 | **** | 0.510 | ||||||||||
| **** | 12-2035 | **** | 0.475 | ||||||||||
| **** | S Tot | **** | 12.423 | ||||||||||
| **** | After | **** | 4.413 | ||||||||||
| **** | Total | **** | 16.836 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 399.646 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 293.823 |
| **** | Revenue | **** | 15.00 | **** | 233.188 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 194.427 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 167.625 |
| **** | 30.00 | **** | 148.004 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB147D00 | 12 Months in first year | ||||||||
| 31.583 Year Life (07/2052) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 55 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 54 |
Cawley, Gillespie & Associates, Inc.
Table 55
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SUNDOWN UNIT
SLAUGHTER (Various) FIELD — HOCKLEY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.487 | ||||||||||
| **** | 12-2022 | **** | 0.462 | ||||||||||
| **** | 12-2023 | **** | 0.439 | ||||||||||
| **** | 12-2024 | **** | 0.417 | ||||||||||
| **** | 12-2025 | **** | 0.397 | ||||||||||
| **** | 12-2026 | **** | 0.376 | ||||||||||
| **** | 12-2027 | **** | 0.358 | ||||||||||
| **** | 12-2028 | **** | 0.339 | ||||||||||
| **** | 12-2029 | **** | 0.323 | ||||||||||
| **** | 12-2030 | **** | 0.307 | ||||||||||
| **** | 12-2031 | **** | 0.291 | ||||||||||
| **** | 12-2032 | **** | 0.277 | ||||||||||
| **** | 12-2033 | **** | 0.263 | ||||||||||
| **** | 12-2034 | **** | 0.249 | ||||||||||
| **** | 12-2035 | **** | 0.237 | ||||||||||
| **** | S Tot | **** | 5.220 | ||||||||||
| **** | After | **** | 3.481 | ||||||||||
| **** | Total | **** | 8.701 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 179.613 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 123.961 |
| **** | Revenue | **** | 15.00 | **** | 95.252 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 77.914 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 66.326 |
| **** | 30.00 | **** | 58.032 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB149D00 | 12 Months in first year | ||||||||
| 43.833 Year Life (10/2064) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 56 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 55 |
Cawley, Gillespie & Associates, Inc.
Table 56
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS TL&M A & HELEN
COAHOMA N, IATAN, SNYDER (VARIOUS) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14NE00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 65 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 56 |
Cawley, Gillespie & Associates, Inc.
Table 57
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CHALK DUNCAN, DORIS, OTIS, OTHER
HOWARD GLASSCOCK (VARIOUS) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.534 | ||||||||||
| **** | 12-2022 | **** | 1.311 | ||||||||||
| **** | 12-2023 | **** | 1.121 | ||||||||||
| **** | 12-2024 | **** | 0.958 | ||||||||||
| **** | 12-2025 | **** | 0.820 | ||||||||||
| **** | 12-2026 | **** | 0.701 | ||||||||||
| **** | 12-2027 | **** | 0.599 | ||||||||||
| **** | 12-2028 | **** | 0.512 | ||||||||||
| **** | 12-2029 | **** | 0.438 | ||||||||||
| **** | 12-2030 | **** | 0.375 | ||||||||||
| **** | 12-2031 | **** | 0.320 | ||||||||||
| **** | 12-2032 | **** | 0.274 | ||||||||||
| **** | 12-2033 | **** | 0.234 | ||||||||||
| **** | 12-2034 | **** | 0.200 | ||||||||||
| **** | 12-2035 | **** | 0.045 | ||||||||||
| **** | S Tot | **** | 9.440 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 9.440 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 280.930 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 235.339 |
| **** | Revenue | **** | 15.00 | **** | 202.708 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 178.454 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 159.837 |
| **** | 30.00 | **** | 145.153 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14ED00 | 12 Months in first year | ||||||||
| 14.250 Year Life (04/2035) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 59 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 57 |
Cawley, Gillespie & Associates, Inc.
Table 58
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CHALK H-G GLORIETA, OTHER CHALK
HOWARD GLASSCOCK (GLORIETA) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.262 | ||||||||||
| **** | 12-2022 | **** | 2.024 | ||||||||||
| **** | 12-2023 | **** | 1.811 | ||||||||||
| **** | 12-2024 | **** | 1.621 | ||||||||||
| **** | 12-2025 | **** | 1.451 | ||||||||||
| **** | 12-2026 | **** | 1.298 | ||||||||||
| **** | 12-2027 | **** | 1.163 | ||||||||||
| **** | 12-2028 | **** | 1.040 | ||||||||||
| **** | 12-2029 | **** | 0.931 | ||||||||||
| **** | 12-2030 | **** | 0.833 | ||||||||||
| **** | 12-2031 | **** | 0.746 | ||||||||||
| **** | 12-2032 | **** | 0.667 | ||||||||||
| **** | 12-2033 | **** | 0.598 | ||||||||||
| **** | 12-2034 | **** | 0.535 | ||||||||||
| **** | 12-2035 | **** | 0.479 | ||||||||||
| **** | S Tot | **** | 17.456 | ||||||||||
| **** | After | **** | 1.904 | ||||||||||
| **** | Total | **** | 19.360 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 530.533 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 420.573 |
| **** | Revenue | **** | 15.00 | **** | 348.968 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 299.307 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 263.082 |
| **** | 30.00 | **** | 235.571 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14IE00 | 12 Months in first year | ||||||||
| 20.667 Year Life (09/2041) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 62 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 58 |
Cawley, Gillespie & Associates, Inc.
Table 59
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— HYMAN-CHALK, CHALK, BOWEN
HOWARD GLASSCOCK (VARIOUS) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.381 | ||||||||||
| **** | 12-2022 | **** | 1.201 | ||||||||||
| **** | 12-2023 | **** | 1.045 | ||||||||||
| **** | 12-2024 | **** | 0.910 | ||||||||||
| **** | 12-2025 | **** | 0.791 | ||||||||||
| **** | 12-2026 | **** | 0.688 | ||||||||||
| **** | 12-2027 | **** | 0.598 | ||||||||||
| **** | 12-2028 | **** | 0.521 | ||||||||||
| **** | 12-2029 | **** | 0.453 | ||||||||||
| **** | 12-2030 | **** | 0.394 | ||||||||||
| **** | 12-2031 | **** | 0.343 | ||||||||||
| **** | 12-2032 | **** | 0.299 | ||||||||||
| **** | 12-2033 | **** | 0.260 | ||||||||||
| **** | 12-2034 | **** | 0.226 | ||||||||||
| **** | 12-2035 | **** | 0.197 | ||||||||||
| **** | S Tot | **** | 9.307 | ||||||||||
| **** | After | **** | 0.184 | ||||||||||
| **** | Total | **** | 9.491 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 281.100 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 231.413 |
| **** | Revenue | **** | 15.00 | **** | 196.883 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 171.789 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 152.855 |
| **** | 30.00 | **** | 138.118 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14HE00 | 12 Months in first year | ||||||||
| 16.083 Year Life (01/2037) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 61 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 59 |
Cawley, Gillespie & Associates, Inc.
Table 60
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— OVERTON B & OVERTON B ‘A‘
HOWARD GLASSCOCK (Various) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.739 | ||||||||||
| **** | 12-2022 | **** | 1.504 | ||||||||||
| **** | 12-2023 | **** | 1.301 | ||||||||||
| **** | 12-2024 | **** | 1.125 | ||||||||||
| **** | 12-2025 | **** | 0.973 | ||||||||||
| **** | 12-2026 | **** | 0.842 | ||||||||||
| **** | 12-2027 | **** | 0.728 | ||||||||||
| **** | 12-2028 | **** | 0.630 | ||||||||||
| **** | 12-2029 | **** | 0.545 | ||||||||||
| **** | 12-2030 | **** | 0.472 | ||||||||||
| **** | 12-2031 | **** | 0.408 | ||||||||||
| **** | 12-2032 | **** | 0.353 | ||||||||||
| **** | 12-2033 | **** | 0.305 | ||||||||||
| **** | 12-2034 | **** | 0.264 | ||||||||||
| **** | 12-2035 | **** | 0.228 | ||||||||||
| **** | S Tot | **** | 11.415 | ||||||||||
| **** | After | **** | 0.085 | ||||||||||
| **** | Total | **** | 11.501 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 334.249 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 276.871 |
| **** | Revenue | **** | 15.00 | **** | 236.576 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 207.059 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 184.656 |
| **** | 30.00 | **** | 167.137 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14KE00 | 12 Months in first year | ||||||||
| 15.417 Year Life (06/2036) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 63 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 60 |
Cawley, Gillespie & Associates, Inc.
Table 61
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— REED VARIOUS
HOWARD GLASSCOCK (VARIOUS) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.745 | ||||||||||
| **** | 12-2022 | **** | 1.614 | ||||||||||
| **** | 12-2023 | **** | 1.493 | ||||||||||
| **** | 12-2024 | **** | 1.381 | ||||||||||
| **** | 12-2025 | **** | 1.278 | ||||||||||
| **** | 12-2026 | **** | 1.182 | ||||||||||
| **** | 12-2027 | **** | 1.093 | ||||||||||
| **** | 12-2028 | **** | 1.011 | ||||||||||
| **** | 12-2029 | **** | 0.935 | ||||||||||
| **** | 12-2030 | **** | 0.866 | ||||||||||
| **** | 12-2031 | **** | 0.800 | ||||||||||
| **** | 12-2032 | **** | 0.740 | ||||||||||
| **** | 12-2033 | **** | 0.685 | ||||||||||
| **** | 12-2034 | **** | 0.634 | ||||||||||
| **** | 12-2035 | **** | 0.586 | ||||||||||
| **** | S Tot | **** | 16.043 | ||||||||||
| **** | After | **** | 4.784 | ||||||||||
| **** | Total | **** | 20.827 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 512.250 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 381.999 |
| **** | Revenue | **** | 15.00 | **** | 305.483 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 255.865 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 221.258 |
| **** | 30.00 | **** | 195.779 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14FD00 | 12 Months in first year | ||||||||
| 28.917 Year Life (12/2049) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 60 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 61 |
Cawley, Gillespie & Associates, Inc.
Table 62
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SETTLES W R B & SETTLES YATES UN
HOWARD GLASSCOCK (YATES, OTHERS) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.726 | ||||||||||
| **** | 12-2022 | **** | 2.507 | ||||||||||
| **** | 12-2023 | **** | 2.307 | ||||||||||
| **** | 12-2024 | **** | 2.122 | ||||||||||
| **** | 12-2025 | **** | 1.953 | ||||||||||
| **** | 12-2026 | **** | 1.796 | ||||||||||
| **** | 12-2027 | **** | 1.653 | ||||||||||
| **** | 12-2028 | **** | 1.520 | ||||||||||
| **** | 12-2029 | **** | 1.399 | ||||||||||
| **** | 12-2030 | **** | 1.287 | ||||||||||
| **** | 12-2031 | **** | 1.184 | ||||||||||
| **** | 12-2032 | **** | 1.089 | ||||||||||
| **** | 12-2033 | **** | 1.002 | ||||||||||
| **** | 12-2034 | **** | 0.922 | ||||||||||
| **** | 12-2035 | **** | 0.848 | ||||||||||
| **** | S Tot | **** | 24.316 | ||||||||||
| **** | After | **** | 6.218 | ||||||||||
| **** | Total | **** | 30.534 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 764.469 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 576.953 |
| **** | Revenue | **** | 15.00 | **** | 464.562 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 390.771 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 338.894 |
| **** | 30.00 | **** | 300.496 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB166D00 | 12 Months in first year | ||||||||
| 27.167 Year Life (03/2048) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 107 | YE2020 01/29/2021 15:43:19 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 62 |
Cawley, Gillespie & Associates, Inc.
Table 63
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SETTLES YATES UNIT & OTHER SETTL
HOWARD GLASSCOCK (Various) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14CD00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 58 | YE2020 01/29/2021 15:43:20 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 63 |
Cawley, Gillespie & Associates, Inc.
Table 64
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— TL&M A-R/A-A
IATAN EAST HOWARD (Various) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.121 | ||||||||||
| **** | 12-2022 | **** | 0.110 | ||||||||||
| **** | 12-2023 | **** | 0.100 | ||||||||||
| **** | 12-2024 | **** | 0.091 | ||||||||||
| **** | 12-2025 | **** | 0.083 | ||||||||||
| **** | 12-2026 | **** | 0.076 | ||||||||||
| **** | 12-2027 | **** | 0.069 | ||||||||||
| **** | 12-2028 | **** | 0.063 | ||||||||||
| **** | 12-2029 | **** | 0.057 | ||||||||||
| **** | 12-2030 | **** | 0.052 | ||||||||||
| **** | 12-2031 | **** | 0.047 | ||||||||||
| **** | 12-2032 | **** | 0.043 | ||||||||||
| **** | 12-2033 | **** | 0.039 | ||||||||||
| **** | 12-2034 | **** | 0.035 | ||||||||||
| **** | 12-2035 | **** | 0.033 | ||||||||||
| **** | S Tot | **** | 1.018 | ||||||||||
| **** | After | **** | 0.215 | ||||||||||
| **** | Total | **** | 1.233 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 39.699 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 30.454 |
| **** | Revenue | **** | 15.00 | **** | 24.785 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 21.001 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 18.309 |
| **** | 30.00 | **** | 16.298 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14PE00 | 12 Months in first year | ||||||||
| 26.417 Year Life (06/2047) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 66 | YE2020 01/29/2021 15:43:20 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 64 |
Cawley, Gillespie & Associates, Inc.
Table 65
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— O‘DANIEL A E, O‘DANIEL B & O‘DAN
SNYDER (Various) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.306 | ||||||||||
| **** | 12-2022 | **** | 0.277 | ||||||||||
| **** | 12-2023 | **** | 0.250 | ||||||||||
| **** | 12-2024 | **** | 0.227 | ||||||||||
| **** | 12-2025 | **** | 0.205 | ||||||||||
| **** | 12-2026 | **** | 0.185 | ||||||||||
| **** | 12-2027 | **** | 0.167 | ||||||||||
| **** | 12-2028 | **** | 0.152 | ||||||||||
| **** | 12-2029 | **** | 0.137 | ||||||||||
| **** | 12-2030 | **** | 0.124 | ||||||||||
| **** | 12-2031 | **** | 0.113 | ||||||||||
| **** | 12-2032 | **** | 0.102 | ||||||||||
| **** | 12-2033 | **** | 0.093 | ||||||||||
| **** | 12-2034 | **** | 0.084 | ||||||||||
| **** | 12-2035 | **** | 0.076 | ||||||||||
| **** | S Tot | **** | 2.498 | ||||||||||
| **** | After | **** | 0.404 | ||||||||||
| **** | Total | **** | 2.901 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 76.307 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 59.367 |
| **** | Revenue | **** | 15.00 | **** | 48.689 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 41.444 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 36.237 |
| **** | 30.00 | **** | 32.323 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB167D00 | 12 Months in first year | ||||||||
| 23.250 Year Life (04/2044) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 108 | YE2020 01/29/2021 15:43:20 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 65 |
Cawley, Gillespie & Associates, Inc.
Table 66
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— EAST VEALMOOR UNIT
VEALMOOR EAST (CANYON REEF) FIELD — HOWARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.055 | ||||||||||
| **** | 12-2022 | **** | 0.051 | ||||||||||
| **** | 12-2023 | **** | 0.048 | ||||||||||
| **** | 12-2024 | **** | 0.044 | ||||||||||
| **** | 12-2025 | **** | 0.041 | ||||||||||
| **** | 12-2026 | **** | 0.038 | ||||||||||
| **** | 12-2027 | **** | 0.035 | ||||||||||
| **** | 12-2028 | **** | 0.033 | ||||||||||
| **** | 12-2029 | **** | 0.031 | ||||||||||
| **** | 12-2030 | **** | 0.028 | ||||||||||
| **** | 12-2031 | **** | 0.026 | ||||||||||
| **** | 12-2032 | **** | 0.025 | ||||||||||
| **** | 12-2033 | **** | 0.023 | ||||||||||
| **** | 12-2034 | **** | 0.021 | ||||||||||
| **** | 12-2035 | **** | 0.019 | ||||||||||
| **** | S Tot | **** | 0.517 | ||||||||||
| **** | After | **** | 0.117 | ||||||||||
| **** | Total | **** | 0.635 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 18.416 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 13.874 |
| **** | Revenue | **** | 15.00 | **** | 11.117 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 9.303 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 8.032 |
| **** | 30.00 | **** | 7.096 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14LE00 | 12 Months in first year | ||||||||
| 23.167 Year Life (03/2044) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 64 | YE2020 01/29/2021 15:43:21 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 66 |
Cawley, Gillespie & Associates, Inc.
Table 67
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JOHNSON G (TRUST) SA OIL
PANHANDLE FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB169D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 109 | YE2020 01/29/2021 15:43:21 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 67 |
Cawley, Gillespie & Associates, Inc.
Table 68
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— TURNER-KENT B & VARIOUS COCKRELL
PANHANDLE & ADOBE WALL FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.115 | ||||||||||
| **** | 12-2022 | **** | 0.086 | ||||||||||
| **** | 12-2023 | **** | 0.065 | ||||||||||
| **** | 12-2024 | **** | 0.048 | ||||||||||
| **** | 12-2025 | **** | 0.036 | ||||||||||
| **** | 12-2026 | **** | 0.027 | ||||||||||
| **** | 12-2027 | **** | 0.020 | ||||||||||
| **** | 12-2028 | **** | 0.015 | ||||||||||
| **** | 12-2029 | **** | 0.010 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.424 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.424 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 13.639 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 12.200 |
| **** | Revenue | **** | 15.00 | **** | 11.056 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 10.129 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 9.364 |
| **** | 30.00 | **** | 8.725 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14VE00 | 12 Months in first year | ||||||||
| 8.833 Year Life (10/2029) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 70 | YE2020 01/29/2021 15:43:21 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 68 |
Cawley, Gillespie & Associates, Inc.
Table 69
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— ANTELOPE CREEK, JOHNSON EB A&C
PANHANDLE HUTCHINSON COUNTY FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 12.710 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 10.164 |
| **** | Revenue | **** | 15.00 | **** | 8.481 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 7.301 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 6.434 |
| **** | 30.00 | **** | 5.772 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14QE00 | 12 Months in first year | ||||||||
| 19.500 Year Life (07/2040) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 67 | YE2020 01/29/2021 15:43:21 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 69 |
Cawley, Gillespie & Associates, Inc.
Table 70
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— HUTCHINSON COUNTY PROPERTIES
PANHANDLE HUTCHINSON COUNTY FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.027 | ||||||||||
| **** | 12-2022 | **** | 0.024 | ||||||||||
| **** | 12-2023 | **** | 0.020 | ||||||||||
| **** | 12-2024 | **** | 0.017 | ||||||||||
| **** | 12-2025 | **** | 0.014 | ||||||||||
| **** | 12-2026 | **** | 0.012 | ||||||||||
| **** | 12-2027 | **** | 0.005 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.120 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.120 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| After | .0 | ||||||||||||
| Total | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 3.874 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 3.456 |
| **** | Revenue | **** | 15.00 | **** | 3.118 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 2.841 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 2.611 |
| **** | 30.00 | **** | 2.417 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB17AD00 | 12 Months in first year | ||||||||
| 6.500 Year Life (07/2027) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 136 | YE2020 01/29/2021 15:43:21 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 70 |
Cawley, Gillespie & Associates, Inc.
Table 71
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JOHNSON, JOHNSON RANCH & OTHERS
PANHANDLE HUTCHINSON COUNTY (VARIOUS) FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.596 | ||||||||||
| **** | 12-2022 | **** | 0.530 | ||||||||||
| **** | 12-2023 | **** | 0.472 | ||||||||||
| **** | 12-2024 | **** | 0.420 | ||||||||||
| **** | 12-2025 | **** | 0.374 | ||||||||||
| **** | 12-2026 | **** | 0.332 | ||||||||||
| **** | 12-2027 | **** | 0.296 | ||||||||||
| **** | 12-2028 | **** | 0.264 | ||||||||||
| **** | 12-2029 | **** | 0.234 | ||||||||||
| **** | 12-2030 | **** | 0.209 | ||||||||||
| **** | 12-2031 | **** | 0.186 | ||||||||||
| **** | 12-2032 | **** | 0.166 | ||||||||||
| **** | 12-2033 | **** | 0.147 | ||||||||||
| **** | 12-2034 | **** | 0.131 | ||||||||||
| **** | 12-2035 | **** | 0.116 | ||||||||||
| **** | S Tot | **** | 4.472 | ||||||||||
| **** | After | **** | 0.379 | ||||||||||
| **** | Total | **** | 4.851 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 281.657 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 225.302 |
| **** | Revenue | **** | 15.00 | **** | 188.015 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 161.869 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 142.651 |
| **** | 30.00 | **** | 127.977 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14SE00 | 12 Months in first year | ||||||||
| 19.417 Year Life (06/2040) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 68 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 71 |
Cawley, Gillespie & Associates, Inc.
Table 72
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JON & JON A1, B1 & C
PANHANDLE HUTCHINSON COUNTY (VARIOUS) FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB129D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 19 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 72 |
Cawley, Gillespie & Associates, Inc.
Table 73
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— PANHANDLE HUTCHINSON COUNTY VARI
PANHANDLE HUTCHINSON COUNTY (VARIOUS) FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.242 | ||||||||||
| **** | 12-2022 | **** | 0.223 | ||||||||||
| **** | 12-2023 | **** | 0.205 | ||||||||||
| **** | 12-2024 | **** | 0.189 | ||||||||||
| **** | 12-2025 | **** | 0.174 | ||||||||||
| **** | 12-2026 | **** | 0.160 | ||||||||||
| **** | 12-2027 | **** | 0.147 | ||||||||||
| **** | 12-2028 | **** | 0.135 | ||||||||||
| **** | 12-2029 | **** | 0.124 | ||||||||||
| **** | 12-2030 | **** | 0.115 | ||||||||||
| **** | 12-2031 | **** | 0.105 | ||||||||||
| **** | 12-2032 | **** | 0.097 | ||||||||||
| **** | 12-2033 | **** | 0.089 | ||||||||||
| **** | 12-2034 | **** | 0.082 | ||||||||||
| **** | 12-2035 | **** | 0.076 | ||||||||||
| **** | S Tot | **** | 2.162 | ||||||||||
| **** | After | **** | 0.555 | ||||||||||
| **** | Total | **** | 2.717 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 360.218 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 271.807 |
| **** | Revenue | **** | 15.00 | **** | 218.843 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 184.077 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 159.638 |
| **** | 30.00 | **** | 141.550 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14TE00 | 12 Months in first year | ||||||||
| 27.250 Year Life (04/2048) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 69 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 73 |
Cawley, Gillespie & Associates, Inc.
Table 74
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS COCKRELL PROPERTIES
PANHANDLE HUTCHINSON COUNTY (VARIOUS) FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.345 | ||||||||||
| **** | 12-2022 | **** | 0.312 | ||||||||||
| **** | 12-2023 | **** | 0.282 | ||||||||||
| **** | 12-2024 | **** | 0.256 | ||||||||||
| **** | 12-2025 | **** | 0.231 | ||||||||||
| **** | 12-2026 | **** | 0.209 | ||||||||||
| **** | 12-2027 | **** | 0.190 | ||||||||||
| **** | 12-2028 | **** | 0.171 | ||||||||||
| **** | 12-2029 | **** | 0.155 | ||||||||||
| **** | 12-2030 | **** | 0.140 | ||||||||||
| **** | 12-2031 | **** | 0.127 | ||||||||||
| **** | 12-2032 | **** | 0.115 | ||||||||||
| **** | 12-2033 | **** | 0.104 | ||||||||||
| **** | 12-2034 | **** | 0.094 | ||||||||||
| **** | 12-2035 | **** | 0.085 | ||||||||||
| **** | S Tot | **** | 2.815 | ||||||||||
| **** | After | **** | 0.391 | ||||||||||
| **** | Total | **** | 3.206 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 94.184 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 73.646 |
| **** | Revenue | **** | 15.00 | **** | 60.538 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 51.583 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 45.122 |
| **** | 30.00 | **** | 40.257 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14WE00 | 12 Months in first year | ||||||||
| 21.583 Year Life (07/2042) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 71 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 74 |
Cawley, Gillespie & Associates, Inc.
Table 75
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
VARIOUS — MAYER 1R & GERRY 1 - SUMMARY
PANHANDLE WEST (BROWN DOLOMITE) FIELD — HUTCHINSON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 2.228 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1.844 |
| **** | Revenue | **** | 15.00 | **** | 1.576 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1.380 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 1.232 |
| **** | 30.00 | **** | 1.116 | ||||||
| API: 42233330480000 CODE: 242, | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB179D00 | 12 Months in first year | ||||||||
| 16.583 Year Life (07/2037) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 135 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 75 |
Cawley, Gillespie & Associates, Inc.
Table 76
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— COLEMAN RANCH UNIT
COLEMAN RANCH (Various) FIELD — MITCHELL COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.790 | ||||||||||
| **** | 12-2022 | **** | 0.718 | ||||||||||
| **** | 12-2023 | **** | 0.654 | ||||||||||
| **** | 12-2024 | **** | 0.595 | ||||||||||
| **** | 12-2025 | **** | 0.542 | ||||||||||
| **** | 12-2026 | **** | 0.493 | ||||||||||
| **** | 12-2027 | **** | 0.449 | ||||||||||
| **** | 12-2028 | **** | 0.408 | ||||||||||
| **** | 12-2029 | **** | 0.371 | ||||||||||
| **** | 12-2030 | **** | 0.338 | ||||||||||
| **** | 12-2031 | **** | 0.308 | ||||||||||
| **** | 12-2032 | **** | 0.280 | ||||||||||
| **** | 12-2033 | **** | 0.255 | ||||||||||
| **** | 12-2034 | **** | 0.232 | ||||||||||
| **** | 12-2035 | **** | 0.211 | ||||||||||
| **** | S Tot | **** | 6.642 | ||||||||||
| **** | After | **** | 1.241 | ||||||||||
| **** | Total | **** | 7.883 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 204.393 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 157.598 |
| **** | Revenue | **** | 15.00 | **** | 128.526 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 108.992 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 95.049 |
| **** | 30.00 | **** | 84.620 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB14OE00 | 12 Months in first year | ||||||||
| 24.250 Year Life (04/2045) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 74 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 76 |
Cawley, Gillespie & Associates, Inc.
Table 77
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BURCHARD, COLEMAN VARIOUS, COX,
COLEMAN RANCH, WESTBROOK (Various) FIELD — MITCHELL COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.351 | ||||||||||
| **** | 12-2022 | **** | 0.319 | ||||||||||
| **** | 12-2023 | **** | 0.290 | ||||||||||
| **** | 12-2024 | **** | 0.264 | ||||||||||
| **** | 12-2025 | **** | 0.241 | ||||||||||
| **** | 12-2026 | **** | 0.219 | ||||||||||
| **** | 12-2027 | **** | 0.199 | ||||||||||
| **** | 12-2028 | **** | 0.182 | ||||||||||
| **** | 12-2029 | **** | 0.165 | ||||||||||
| **** | 12-2030 | **** | 0.150 | ||||||||||
| **** | 12-2031 | **** | 0.137 | ||||||||||
| **** | 12-2032 | **** | 0.124 | ||||||||||
| **** | 12-2033 | **** | 0.113 | ||||||||||
| **** | 12-2034 | **** | 0.103 | ||||||||||
| **** | 12-2035 | **** | 0.093 | ||||||||||
| **** | S Tot | **** | 2.949 | ||||||||||
| **** | After | **** | 0.502 | ||||||||||
| **** | Total | **** | 3.451 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 90.147 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 69.758 |
| **** | Revenue | **** | 15.00 | **** | 56.978 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 48.350 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 42.177 |
| **** | 30.00 | **** | 37.554 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16AD00 | 12 Months in first year | ||||||||
| 23.000 Year Life (01/2044) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 110 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 77 |
Cawley, Gillespie & Associates, Inc.
Table 78
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— FOSTER MARY
IATAN & IATAN EAST HOWARD (SADR & CLEARFORK) FIELD — MITCHELL COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.657 | ||||||||||
| **** | 12-2022 | **** | 0.611 | ||||||||||
| **** | 12-2023 | **** | 0.568 | ||||||||||
| **** | 12-2024 | **** | 0.528 | ||||||||||
| **** | 12-2025 | **** | 0.491 | ||||||||||
| **** | 12-2026 | **** | 0.457 | ||||||||||
| **** | 12-2027 | **** | 0.425 | ||||||||||
| **** | 12-2028 | **** | 0.395 | ||||||||||
| **** | 12-2029 | **** | 0.368 | ||||||||||
| **** | 12-2030 | **** | 0.342 | ||||||||||
| **** | 12-2031 | **** | 0.318 | ||||||||||
| **** | 12-2032 | **** | 0.295 | ||||||||||
| **** | 12-2033 | **** | 0.275 | ||||||||||
| **** | 12-2034 | **** | 0.256 | ||||||||||
| **** | 12-2035 | **** | 0.238 | ||||||||||
| **** | S Tot | **** | 6.222 | ||||||||||
| **** | After | **** | 2.139 | ||||||||||
| **** | Total | **** | 8.361 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 199.581 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 147.019 |
| **** | Revenue | **** | 15.00 | **** | 116.752 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 97.364 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 83.948 |
| **** | 30.00 | **** | 74.123 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB151D00 | 12 Months in first year | ||||||||
| 30.583 Year Life (07/2051) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 77 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 78 |
Cawley, Gillespie & Associates, Inc.
Table 79
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WATSON WWD & WW
IATAN EAST HOWARD (CLEARFORK) FIELD — MITCHELL COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.200 | ||||||||||
| **** | 12-2022 | **** | 0.187 | ||||||||||
| **** | 12-2023 | **** | 0.175 | ||||||||||
| **** | 12-2024 | **** | 0.164 | ||||||||||
| **** | 12-2025 | **** | 0.153 | ||||||||||
| **** | 12-2026 | **** | 0.143 | ||||||||||
| **** | 12-2027 | **** | 0.134 | ||||||||||
| **** | 12-2028 | **** | 0.125 | ||||||||||
| **** | 12-2029 | **** | 0.117 | ||||||||||
| **** | 12-2030 | **** | 0.109 | ||||||||||
| **** | 12-2031 | **** | 0.102 | ||||||||||
| **** | 12-2032 | **** | 0.095 | ||||||||||
| **** | 12-2033 | **** | 0.089 | ||||||||||
| **** | 12-2034 | **** | 0.084 | ||||||||||
| **** | 12-2035 | **** | 0.078 | ||||||||||
| **** | S Tot | **** | 1.957 | ||||||||||
| **** | After | **** | 0.810 | ||||||||||
| **** | Total | **** | 2.767 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 63.807 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 46.257 |
| **** | Revenue | **** | 15.00 | **** | 36.435 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 30.241 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 25.993 |
| **** | 30.00 | **** | 22.901 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB150D00 | 12 Months in first year | ||||||||
| 34.000 Year Life (01/2055) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 76 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 79 |
Cawley, Gillespie & Associates, Inc.
Table 80
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MCCABE VT VARIOUS, STUBBLEFIELD
JAMESON NORTH (STRAWN & OTHERS) FIELD — MITCHELL COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.013 | ||||||||||
| **** | 12-2022 | **** | 0.011 | ||||||||||
| **** | 12-2023 | **** | 0.005 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.030 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.030 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1.055 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1.000 |
| **** | Revenue | **** | 15.00 | **** | 0.951 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 0.907 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 0.868 |
| **** | 30.00 | **** | 0.833 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB141E00 | 12 Months in first year | ||||||||
| 2.500 Year Life (07/2023) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 73 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 80 |
Cawley, Gillespie & Associates, Inc.
Table 81
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— NORTH WESTBROOK UNIT
WESTBROOK (CLEARFORK) FIELD — MITCHELL COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.839 | ||||||||||
| **** | 12-2022 | **** | 0.747 | ||||||||||
| **** | 12-2023 | **** | 0.665 | ||||||||||
| **** | 12-2024 | **** | 0.591 | ||||||||||
| **** | 12-2025 | **** | 0.526 | ||||||||||
| **** | 12-2026 | **** | 0.469 | ||||||||||
| **** | 12-2027 | **** | 0.417 | ||||||||||
| **** | 12-2028 | **** | 0.371 | ||||||||||
| **** | 12-2029 | **** | 0.331 | ||||||||||
| **** | 12-2030 | **** | 0.294 | ||||||||||
| **** | 12-2031 | **** | 0.262 | ||||||||||
| **** | 12-2032 | **** | 0.233 | ||||||||||
| **** | 12-2033 | **** | 0.207 | ||||||||||
| **** | 12-2034 | **** | 0.184 | ||||||||||
| **** | 12-2035 | **** | 0.164 | ||||||||||
| **** | S Tot | **** | 6.300 | ||||||||||
| **** | After | **** | 0.519 | ||||||||||
| **** | Total | **** | 6.819 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 188.024 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 150.491 |
| **** | Revenue | **** | 15.00 | **** | 125.622 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 108.168 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 95.333 |
| **** | 30.00 | **** | 85.530 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB140E00 | 12 Months in first year | ||||||||
| 19.250 Year Life (04/2040) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 72 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 81 |
Cawley, Gillespie & Associates, Inc.
Table 82
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CONROE FIELD UNIT
CONROE FIELD — MONTGOMERY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.467 | ||||||||||
| **** | 12-2022 | **** | 0.446 | ||||||||||
| **** | 12-2023 | **** | 0.426 | ||||||||||
| **** | 12-2024 | **** | 0.407 | ||||||||||
| **** | 12-2025 | **** | 0.389 | ||||||||||
| **** | 12-2026 | **** | 0.371 | ||||||||||
| **** | 12-2027 | **** | 0.354 | ||||||||||
| **** | 12-2028 | **** | 0.338 | ||||||||||
| **** | 12-2029 | **** | 0.323 | ||||||||||
| **** | 12-2030 | **** | 0.308 | ||||||||||
| **** | 12-2031 | **** | 0.295 | ||||||||||
| **** | 12-2032 | **** | 0.281 | ||||||||||
| **** | 12-2033 | **** | 0.269 | ||||||||||
| **** | 12-2034 | **** | 0.256 | ||||||||||
| **** | 12-2035 | **** | 0.245 | ||||||||||
| **** | S Tot | **** | 5.177 | ||||||||||
| **** | After | **** | 4.057 | ||||||||||
| **** | Total | **** | 9.234 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 197.634 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 133.872 |
| **** | Revenue | **** | 15.00 | **** | 101.948 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 82.958 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 70.378 |
| **** | 30.00 | **** | 61.428 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB153D00 | 12 Months in first year | ||||||||
| 47.833 Year Life (10/2068) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 78 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 82 |
Cawley, Gillespie & Associates, Inc.
Table 83
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS MCCANN PROPERTIES
ARNOLD-DAVIS & LUBY (VARIOUS) FIELD — NUECES COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB154D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 79 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 83 |
Cawley, Gillespie & Associates, Inc.
Table 84
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WOODWARD 64 & SOUTHLAND ROYALTY
CHENOT (WOLFCAMP) FIELD — PECOS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.049 | ||||||||||
| **** | 12-2022 | **** | 0.042 | ||||||||||
| **** | 12-2023 | **** | 0.037 | ||||||||||
| **** | 12-2024 | **** | 0.032 | ||||||||||
| **** | 12-2025 | **** | 0.027 | ||||||||||
| **** | 12-2026 | **** | 0.023 | ||||||||||
| **** | 12-2027 | **** | 0.020 | ||||||||||
| **** | 12-2028 | **** | 0.018 | ||||||||||
| **** | 12-2029 | **** | 0.015 | ||||||||||
| **** | 12-2030 | **** | 0.012 | ||||||||||
| **** | 12-2031 | **** | 0.011 | ||||||||||
| **** | 12-2032 | **** | 0.010 | ||||||||||
| **** | 12-2033 | **** | 0.008 | ||||||||||
| **** | 12-2034 | **** | 0.007 | ||||||||||
| **** | 12-2035 | **** | 0.005 | ||||||||||
| **** | S Tot | **** | 0.316 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.316 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 32.735 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 27.270 |
| **** | Revenue | **** | 15.00 | **** | 23.396 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 20.537 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 18.355 |
| **** | 30.00 | **** | 16.641 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB157D00 | 12 Months in first year | ||||||||
| 14.833 Year Life (10/2035) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 81 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 84 |
Cawley, Gillespie & Associates, Inc.
Table 85
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— YATES FIELD UNIT & SMITH MYRON
YATES (VARIOUS) FIELD — PECOS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 18.298 | ||||||||||
| **** | 12-2022 | **** | 17.658 | ||||||||||
| **** | 12-2023 | **** | 17.040 | ||||||||||
| **** | 12-2024 | **** | 16.444 | ||||||||||
| **** | 12-2025 | **** | 15.868 | ||||||||||
| **** | 12-2026 | **** | 15.313 | ||||||||||
| **** | 12-2027 | **** | 14.777 | ||||||||||
| **** | 12-2028 | **** | 14.260 | ||||||||||
| **** | 12-2029 | **** | 13.761 | ||||||||||
| **** | 12-2030 | **** | 13.279 | ||||||||||
| **** | 12-2031 | **** | 12.814 | ||||||||||
| **** | 12-2032 | **** | 12.366 | ||||||||||
| **** | 12-2033 | **** | 11.933 | ||||||||||
| **** | 12-2034 | **** | 11.515 | ||||||||||
| **** | 12-2035 | **** | 11.112 | ||||||||||
| **** | S Tot | **** | 216.436 | ||||||||||
| **** | After | **** | 218.329 | ||||||||||
| **** | Total | **** | 434.766 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 7,929.618 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 5,181.084 |
| **** | Revenue | **** | 15.00 | **** | 3,872.897 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 3,117.033 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 2,625.338 |
| **** | 30.00 | **** | 2,279.790 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB156D00 | 12 Months in first year | ||||||||
| 50.000 Year Life (01/2071) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 80 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 85 |
Cawley, Gillespie & Associates, Inc.
Table 86
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CONOCO YATES, YATES IG, OTHER YA
YATES , TOBORG (WOLFCAMP, OTHERS) FIELD — PECOS COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.114 | ||||||||||
| **** | 12-2022 | **** | 0.108 | ||||||||||
| **** | 12-2023 | **** | 0.100 | ||||||||||
| **** | 12-2024 | **** | 0.094 | ||||||||||
| **** | 12-2025 | **** | 0.089 | ||||||||||
| **** | 12-2026 | **** | 0.084 | ||||||||||
| **** | 12-2027 | **** | 0.078 | ||||||||||
| **** | 12-2028 | **** | 0.074 | ||||||||||
| **** | 12-2029 | **** | 0.070 | ||||||||||
| **** | 12-2030 | **** | 0.065 | ||||||||||
| **** | 12-2031 | **** | 0.062 | ||||||||||
| **** | 12-2032 | **** | 0.058 | ||||||||||
| **** | 12-2033 | **** | 0.055 | ||||||||||
| **** | 12-2034 | **** | 0.051 | ||||||||||
| **** | 12-2035 | **** | 0.048 | ||||||||||
| **** | S Tot | **** | 1.149 | ||||||||||
| **** | After | **** | 0.581 | ||||||||||
| **** | Total | **** | 1.730 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 38.249 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 27.234 |
| **** | Revenue | **** | 15.00 | **** | 21.268 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 17.567 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 15.052 |
| **** | 30.00 | **** | 13.231 | ||||||
| ASN=111 PDP | |||||||||
| --- | --- | ||||||||
| API: CODE: | 12 Months in first year | ||||||||
| 39.000 Year Life (01/2060) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 111 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 86 |
Cawley, Gillespie & Associates, Inc.
Table 87
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— LOFTIN & GOULD A
SPRABERRY (TREND AREA) FIELD — REAGAN COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.037 | ||||||||||
| **** | 12-2022 | **** | 0.907 | ||||||||||
| **** | 12-2023 | **** | 0.804 | ||||||||||
| **** | 12-2024 | **** | 0.722 | ||||||||||
| **** | 12-2025 | **** | 0.653 | ||||||||||
| **** | 12-2026 | **** | 0.597 | ||||||||||
| **** | 12-2027 | **** | 0.548 | ||||||||||
| **** | 12-2028 | **** | 0.507 | ||||||||||
| **** | 12-2029 | **** | 0.471 | ||||||||||
| **** | 12-2030 | **** | 0.439 | ||||||||||
| **** | 12-2031 | **** | 0.412 | ||||||||||
| **** | 12-2032 | **** | 0.387 | ||||||||||
| **** | 12-2033 | **** | 0.365 | ||||||||||
| **** | 12-2034 | **** | 0.345 | ||||||||||
| **** | 12-2035 | **** | 0.327 | ||||||||||
| **** | S Tot | **** | 8.520 | ||||||||||
| **** | After | **** | 3.950 | ||||||||||
| **** | Total | **** | 12.470 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 481.549 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 351.005 |
| **** | Revenue | **** | 15.00 | **** | 279.293 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 234.328 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 203.451 |
| **** | 30.00 | **** | 180.863 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15CD00 | 12 Months in first year | ||||||||
| 34.667 Year Life (09/2055) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 84 | YE2020 01/29/2021 15:43:22 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 87 |
Cawley, Gillespie & Associates, Inc.
Table 88
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— PP BOYLES
DIAMOND -M- (CLEARFORK) FIELD — SCURRY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.060 | ||||||||||
| **** | 12-2022 | **** | 0.056 | ||||||||||
| **** | 12-2023 | **** | 0.051 | ||||||||||
| **** | 12-2024 | **** | 0.047 | ||||||||||
| **** | 12-2025 | **** | 0.043 | ||||||||||
| **** | 12-2026 | **** | 0.040 | ||||||||||
| **** | 12-2027 | **** | 0.036 | ||||||||||
| **** | 12-2028 | **** | 0.033 | ||||||||||
| **** | 12-2029 | **** | 0.031 | ||||||||||
| **** | 12-2030 | **** | 0.028 | ||||||||||
| **** | 12-2031 | **** | 0.026 | ||||||||||
| **** | 12-2032 | **** | 0.024 | ||||||||||
| **** | 12-2033 | **** | 0.022 | ||||||||||
| **** | 12-2034 | **** | 0.020 | ||||||||||
| **** | 12-2035 | **** | 0.019 | ||||||||||
| **** | S Tot | **** | 0.536 | ||||||||||
| **** | After | **** | 0.088 | ||||||||||
| **** | Total | **** | 0.624 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 16.570 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 12.745 |
| **** | Revenue | **** | 15.00 | **** | 10.348 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 8.735 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 7.587 |
| **** | 30.00 | **** | 6.732 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16ED00 | 12 Months in first year | ||||||||
| 21.333 Year Life (04/2042) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 112 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 88 |
Cawley, Gillespie & Associates, Inc.
Table 89
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JAP BECK LEASE
KELLY-SNYDER (CISCO) FIELD — SCURRY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.019 | ||||||||||
| **** | 12-2022 | **** | 0.015 | ||||||||||
| **** | 12-2023 | **** | 0.013 | ||||||||||
| **** | 12-2024 | **** | 0.007 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.054 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.054 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1.823 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1.695 |
| **** | Revenue | **** | 15.00 | **** | 1.585 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1.489 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 1.405 |
| **** | 30.00 | **** | 1.331 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: NEWYE13138 | 12 Months in first year | ||||||||
| 3.667 Year Life (09/2024) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 138 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 89 |
Cawley, Gillespie & Associates, Inc.
Table 90
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SACROC, BROWN JW & REVILO GLORIE
KELLY-SNYDER & REVILO (VARIOUS) FIELD — SCURRY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 25.112 | ||||||||||
| **** | 12-2022 | **** | 22.962 | ||||||||||
| **** | 12-2023 | **** | 20.895 | ||||||||||
| **** | 12-2024 | **** | 19.015 | ||||||||||
| **** | 12-2025 | **** | 17.304 | ||||||||||
| **** | 12-2026 | **** | 15.746 | ||||||||||
| **** | 12-2027 | **** | 14.329 | ||||||||||
| **** | 12-2028 | **** | 13.040 | ||||||||||
| **** | 12-2029 | **** | 11.866 | ||||||||||
| **** | 12-2030 | **** | 10.798 | ||||||||||
| **** | 12-2031 | **** | 9.826 | ||||||||||
| **** | 12-2032 | **** | 8.942 | ||||||||||
| **** | 12-2033 | **** | 8.137 | ||||||||||
| **** | 12-2034 | **** | 7.405 | ||||||||||
| **** | 12-2035 | **** | 6.738 | ||||||||||
| **** | S Tot | **** | 212.117 | ||||||||||
| **** | After | **** | 40.967 | ||||||||||
| **** | Total | **** | 253.084 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 6,546.351 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 5,040.068 |
| **** | Revenue | **** | 15.00 | **** | 4,107.297 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 3,481.648 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 3,035.433 |
| **** | 30.00 | **** | 2,701.825 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15ED00 | 12 Months in first year | ||||||||
| 24.750 Year Life (10/2045) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 85 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 90 |
Cawley, Gillespie & Associates, Inc.
Table 91
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BOYLES G D (TRUST)
REVILO (GLORIETA) FIELD — SCURRY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.048 | ||||||||||
| **** | 12-2022 | **** | 0.043 | ||||||||||
| **** | 12-2023 | **** | 0.039 | ||||||||||
| **** | 12-2024 | **** | 0.034 | ||||||||||
| **** | 12-2025 | **** | 0.031 | ||||||||||
| **** | 12-2026 | **** | 0.028 | ||||||||||
| **** | 12-2027 | **** | 0.026 | ||||||||||
| **** | 12-2028 | **** | 0.023 | ||||||||||
| **** | 12-2029 | **** | 0.020 | ||||||||||
| **** | 12-2030 | **** | 0.019 | ||||||||||
| **** | 12-2031 | **** | 0.017 | ||||||||||
| **** | 12-2032 | **** | 0.015 | ||||||||||
| **** | 12-2033 | **** | 0.013 | ||||||||||
| **** | 12-2034 | **** | 0.012 | ||||||||||
| **** | 12-2035 | **** | 0.009 | ||||||||||
| **** | S Tot | **** | 0.376 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.376 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 10.677 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 8.664 |
| **** | Revenue | **** | 15.00 | **** | 7.277 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 6.279 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 5.534 |
| **** | 30.00 | **** | 4.961 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16HE00 | 12 Months in first year | ||||||||
| 14.833 Year Life (10/2035) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 114 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 91 |
Cawley, Gillespie & Associates, Inc.
Table 92
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BOYD CONGLOMERATE UNIT
BOYD S E (CONGLOMERATE) FIELD — STONEWALL COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.015 | ||||||||||
| **** | 12-2022 | **** | 0.014 | ||||||||||
| **** | 12-2023 | **** | 0.012 | ||||||||||
| **** | 12-2024 | **** | 0.011 | ||||||||||
| **** | 12-2025 | **** | 0.004 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.056 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.056 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1.867 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1.709 |
| **** | Revenue | **** | 15.00 | **** | 1.575 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1.460 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 1.361 |
| **** | 30.00 | **** | 1.276 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15HE00 | 12 Months in first year | ||||||||
| 4.333 Year Life (04/2025) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 87 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 92 |
Cawley, Gillespie & Associates, Inc.
Table 93
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— ADAIR SAN ANDRES & WOLFCAMP UNIT
ADAIR (SAN ANDRES, WOLFCAMP) FIELD — TERRY COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 1.960 | ||||||||||
| **** | 12-2022 | **** | 1.862 | ||||||||||
| **** | 12-2023 | **** | 1.769 | ||||||||||
| **** | 12-2024 | **** | 1.681 | ||||||||||
| **** | 12-2025 | **** | 1.597 | ||||||||||
| **** | 12-2026 | **** | 1.517 | ||||||||||
| **** | 12-2027 | **** | 1.441 | ||||||||||
| **** | 12-2028 | **** | 1.369 | ||||||||||
| **** | 12-2029 | **** | 1.301 | ||||||||||
| **** | 12-2030 | **** | 1.236 | ||||||||||
| **** | 12-2031 | **** | 1.174 | ||||||||||
| **** | 12-2032 | **** | 1.115 | ||||||||||
| **** | 12-2033 | **** | 1.059 | ||||||||||
| **** | 12-2034 | **** | 1.007 | ||||||||||
| **** | 12-2035 | **** | 0.956 | ||||||||||
| **** | S Tot | **** | 21.043 | ||||||||||
| **** | After | **** | 14.248 | ||||||||||
| **** | Total | **** | 35.292 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 724.701 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 499.631 |
| **** | Revenue | **** | 15.00 | **** | 383.841 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 313.962 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 267.265 |
| **** | 30.00 | **** | 233.845 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15IE00 | 12 Months in first year | ||||||||
| 44.917 Year Life (12/2065) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 88 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 93 |
Cawley, Gillespie & Associates, Inc.
Table 94
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BLAND & FREE PROPERTIES
EAST TEXAS (VARIOUS) FIELD — UPSHUR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.157 | ||||||||||
| **** | 12-2022 | **** | 0.144 | ||||||||||
| **** | 12-2023 | **** | 0.131 | ||||||||||
| **** | 12-2024 | **** | 0.121 | ||||||||||
| **** | 12-2025 | **** | 0.110 | ||||||||||
| **** | 12-2026 | **** | 0.100 | ||||||||||
| **** | 12-2027 | **** | 0.093 | ||||||||||
| **** | 12-2028 | **** | 0.085 | ||||||||||
| **** | 12-2029 | **** | 0.078 | ||||||||||
| **** | 12-2030 | **** | 0.071 | ||||||||||
| **** | 12-2031 | **** | 0.064 | ||||||||||
| **** | 12-2032 | **** | 0.059 | ||||||||||
| **** | 12-2033 | **** | 0.054 | ||||||||||
| **** | 12-2034 | **** | 0.049 | ||||||||||
| **** | 12-2035 | **** | 0.045 | ||||||||||
| **** | S Tot | **** | 1.360 | ||||||||||
| **** | After | **** | 0.252 | ||||||||||
| **** | Total | **** | 1.612 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 62.404 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 47.962 |
| **** | Revenue | **** | 15.00 | **** | 38.989 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 32.973 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 28.691 |
| **** | 30.00 | **** | 25.498 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15KE00 | 12 Months in first year | ||||||||
| 23.167 Year Life (03/2044) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 89 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 94 |
Cawley, Gillespie & Associates, Inc.
Table 95
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— EDWARDS, EDWARDS ETHEL, EDWARDS
EAST TEXAS FIELD — UPSHUR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.187 | ||||||||||
| **** | 12-2022 | **** | 0.164 | ||||||||||
| **** | 12-2023 | **** | 0.143 | ||||||||||
| **** | 12-2024 | **** | 0.125 | ||||||||||
| **** | 12-2025 | **** | 0.109 | ||||||||||
| **** | 12-2026 | **** | 0.096 | ||||||||||
| **** | 12-2027 | **** | 0.084 | ||||||||||
| **** | 12-2028 | **** | 0.073 | ||||||||||
| **** | 12-2029 | **** | 0.064 | ||||||||||
| **** | 12-2030 | **** | 0.056 | ||||||||||
| **** | 12-2031 | **** | 0.049 | ||||||||||
| **** | 12-2032 | **** | 0.043 | ||||||||||
| **** | 12-2033 | **** | 0.038 | ||||||||||
| **** | 12-2034 | **** | 0.033 | ||||||||||
| **** | 12-2035 | **** | 0.029 | ||||||||||
| **** | S Tot | **** | 1.294 | ||||||||||
| **** | After | **** | 0.049 | ||||||||||
| **** | Total | **** | 1.343 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 53.657 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 43.838 |
| **** | Revenue | **** | 15.00 | **** | 37.107 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 32.264 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 28.636 |
| **** | 30.00 | **** | 25.828 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16KE00 | 12 Months in first year | ||||||||
| 17.083 Year Life (01/2038) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 116 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 95 |
Cawley, Gillespie & Associates, Inc.
Table 96
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— HAMPTON HOWARD (TRUST) 1
WHITE OAK (COTTON VALLEY) FIELD — UPSHUR COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.100 | ||||||||||
| **** | 12-2022 | **** | 0.094 | ||||||||||
| **** | 12-2023 | **** | 0.089 | ||||||||||
| **** | 12-2024 | **** | 0.085 | ||||||||||
| **** | 12-2025 | **** | 0.080 | ||||||||||
| **** | 12-2026 | **** | 0.076 | ||||||||||
| **** | 12-2027 | **** | 0.071 | ||||||||||
| **** | 12-2028 | **** | 0.067 | ||||||||||
| **** | 12-2029 | **** | 0.063 | ||||||||||
| **** | 12-2030 | **** | 0.060 | ||||||||||
| **** | 12-2031 | **** | 0.057 | ||||||||||
| **** | 12-2032 | **** | 0.054 | ||||||||||
| **** | 12-2033 | **** | 0.051 | ||||||||||
| **** | 12-2034 | **** | 0.048 | ||||||||||
| **** | 12-2035 | **** | 0.045 | ||||||||||
| **** | S Tot | **** | 1.041 | ||||||||||
| **** | After | **** | 0.592 | ||||||||||
| **** | Total | **** | 1.633 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 67.093 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 47.118 |
| **** | Revenue | **** | 15.00 | **** | 36.517 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 30.020 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 25.640 |
| **** | 30.00 | **** | 22.487 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16LE00 | 12 Months in first year | ||||||||
| 40.250 Year Life (04/2061) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 117 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 96 |
Cawley, Gillespie & Associates, Inc.
Table 97
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— ADAMC BEND UNIT
ADAMC (BEND) FIELD — UPTON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.426 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.395 |
| **** | Revenue | **** | 15.00 | **** | 0.368 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 0.346 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 0.326 |
| **** | 30.00 | **** | 0.309 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15LE00 | 12 Months in first year | ||||||||
| 4.750 Year Life (10/2025) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 90 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 97 |
Cawley, Gillespie & Associates, Inc.
Table 98
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CRIER MCELROY (TRUST)
MCELROY FIELD — UPTON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 11.221 | ||||||||||
| **** | 12-2022 | **** | 10.659 | ||||||||||
| **** | 12-2023 | **** | 10.126 | ||||||||||
| **** | 12-2024 | **** | 9.620 | ||||||||||
| **** | 12-2025 | **** | 9.139 | ||||||||||
| **** | 12-2026 | **** | 8.682 | ||||||||||
| **** | 12-2027 | **** | 8.248 | ||||||||||
| **** | 12-2028 | **** | 7.835 | ||||||||||
| **** | 12-2029 | **** | 7.444 | ||||||||||
| **** | 12-2030 | **** | 7.072 | ||||||||||
| **** | 12-2031 | **** | 6.718 | ||||||||||
| **** | 12-2032 | **** | 6.382 | ||||||||||
| **** | 12-2033 | **** | 6.063 | ||||||||||
| **** | 12-2034 | **** | 5.760 | ||||||||||
| **** | 12-2035 | **** | 5.472 | ||||||||||
| **** | S Tot | **** | 120.440 | ||||||||||
| **** | After | **** | 81.168 | ||||||||||
| **** | Total | **** | 201.608 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 4,186.692 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 2,887.352 |
| **** | Revenue | **** | 15.00 | **** | 2,218.339 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1,814.507 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 1,544.634 |
| **** | 30.00 | **** | 1,351.486 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16NE00 | 12 Months in first year | ||||||||
| 44.583 Year Life (07/2065) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 118 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 98 |
Cawley, Gillespie & Associates, Inc.
Table 99
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MCCLINTIC (TRUST) 1
MCELROY FIELD — UPTON COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16PE00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 119 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 99 |
Cawley, Gillespie & Associates, Inc.
Table 100
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JARMAN WT, MORRIS WE, MURPHREE,
VAN FIELD — VAN ZANDT COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.133 | ||||||||||
| **** | 12-2022 | **** | 0.123 | ||||||||||
| **** | 12-2023 | **** | 0.115 | ||||||||||
| **** | 12-2024 | **** | 0.107 | ||||||||||
| **** | 12-2025 | **** | 0.100 | ||||||||||
| **** | 12-2026 | **** | 0.093 | ||||||||||
| **** | 12-2027 | **** | 0.086 | ||||||||||
| **** | 12-2028 | **** | 0.080 | ||||||||||
| **** | 12-2029 | **** | 0.074 | ||||||||||
| **** | 12-2030 | **** | 0.069 | ||||||||||
| **** | 12-2031 | **** | 0.064 | ||||||||||
| **** | 12-2032 | **** | 0.060 | ||||||||||
| **** | 12-2033 | **** | 0.056 | ||||||||||
| **** | 12-2034 | **** | 0.052 | ||||||||||
| **** | 12-2035 | **** | 0.048 | ||||||||||
| **** | S Tot | **** | 1.259 | ||||||||||
| **** | After | **** | 0.494 | ||||||||||
| **** | Total | **** | 1.753 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 42.286 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 30.909 |
| **** | Revenue | **** | 15.00 | **** | 24.489 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 20.408 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 17.593 |
| **** | 30.00 | **** | 15.533 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16SE00 | 12 Months in first year | ||||||||
| 35.417 Year Life (06/2056) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 121 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 100 |
Cawley, Gillespie & Associates, Inc.
Table 101
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— S V RUC UNIT
VAN (RODESSA) FIELD — VAN ZANDT COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.021 | ||||||||||
| **** | 12-2022 | **** | 0.019 | ||||||||||
| **** | 12-2023 | **** | 0.018 | ||||||||||
| **** | 12-2024 | **** | 0.016 | ||||||||||
| **** | 12-2025 | **** | 0.014 | ||||||||||
| **** | 12-2026 | **** | 0.013 | ||||||||||
| **** | 12-2027 | **** | 0.011 | ||||||||||
| **** | 12-2028 | **** | 0.006 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.119 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.119 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 3.793 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 3.302 |
| **** | Revenue | **** | 15.00 | **** | 2.918 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 2.612 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 2.364 |
| **** | 30.00 | **** | 2.160 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16WE00 | 12 Months in first year | ||||||||
| 7.583 Year Life (07/2028) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 124 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 101 |
Cawley, Gillespie & Associates, Inc.
Table 102
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WELLS R L 46 (TRUST)
VAN FIELD — VAN ZANDT COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16VE00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 123 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 102 |
Cawley, Gillespie & Associates, Inc.
Table 103
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CENTRAL VAN WOODBINE UNIT & OTHE
VAN & VAN SW FIELD — VAN ZANDT COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.621 | ||||||||||
| **** | 12-2022 | **** | 0.562 | ||||||||||
| **** | 12-2023 | **** | 0.509 | ||||||||||
| **** | 12-2024 | **** | 0.460 | ||||||||||
| **** | 12-2025 | **** | 0.417 | ||||||||||
| **** | 12-2026 | **** | 0.377 | ||||||||||
| **** | 12-2027 | **** | 0.341 | ||||||||||
| **** | 12-2028 | **** | 0.308 | ||||||||||
| **** | 12-2029 | **** | 0.279 | ||||||||||
| **** | 12-2030 | **** | 0.253 | ||||||||||
| **** | 12-2031 | **** | 0.229 | ||||||||||
| **** | 12-2032 | **** | 0.207 | ||||||||||
| **** | 12-2033 | **** | 0.188 | ||||||||||
| **** | 12-2034 | **** | 0.170 | ||||||||||
| **** | 12-2035 | **** | 0.153 | ||||||||||
| **** | S Tot | **** | 5.076 | ||||||||||
| **** | After | **** | 0.831 | ||||||||||
| **** | Total | **** | 5.907 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 162.360 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 126.260 |
| **** | Revenue | **** | 15.00 | **** | 103.530 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 88.117 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 77.042 |
| **** | 30.00 | **** | 68.720 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15NE00 | 12 Months in first year | ||||||||
| 23.417 Year Life (06/2044) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 91 | YE2020 01/29/2021 15:43:23 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 103 |
Cawley, Gillespie & Associates, Inc.
Table 104
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— CONSOLIDATED & KATY GAS FIELD UN
KATY FIELD — WALLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15PE00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 92 | YE2020 01/29/2021 15:43:24 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 104 |
Cawley, Gillespie & Associates, Inc.
Table 105
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— EDWARDS FEE ETAL & EDWARDS B 1
JANELLE SE (TUBB) FIELD — WARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.913 | ||||||||||
| **** | 12-2022 | **** | 0.827 | ||||||||||
| **** | 12-2023 | **** | 0.748 | ||||||||||
| **** | 12-2024 | **** | 0.677 | ||||||||||
| **** | 12-2025 | **** | 0.613 | ||||||||||
| **** | 12-2026 | **** | 0.554 | ||||||||||
| **** | 12-2027 | **** | 0.501 | ||||||||||
| **** | 12-2028 | **** | 0.454 | ||||||||||
| **** | 12-2029 | **** | 0.411 | ||||||||||
| **** | 12-2030 | **** | 0.372 | ||||||||||
| **** | 12-2031 | **** | 0.337 | ||||||||||
| **** | 12-2032 | **** | 0.305 | ||||||||||
| **** | 12-2033 | **** | 0.276 | ||||||||||
| **** | 12-2034 | **** | 0.249 | ||||||||||
| **** | 12-2035 | **** | 0.226 | ||||||||||
| **** | S Tot | **** | 7.463 | ||||||||||
| **** | After | **** | 1.175 | ||||||||||
| **** | Total | **** | 8.637 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 319.464 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 248.776 |
| **** | Revenue | **** | 15.00 | **** | 204.114 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 173.771 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 151.949 |
| **** | 30.00 | **** | 135.543 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB160E00 | 12 Months in first year | ||||||||
| 22.917 Year Life (12/2043) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 125 | YE2020 01/29/2021 15:43:24 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 105 |
Cawley, Gillespie & Associates, Inc.
Table 106
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS MARTIN PROPERTIES
WARD-ESTES, WARD-ESTES NORTH (Various) FIELD — WARD COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End | Gross OilProduction | Gross GasProduction | Net OilProduction | Net GasSales | Avg OilPrice | Avg GasPrice | Oil<br>Revenue | Gas<br>Revenue | TotalRevenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.122 | ||||||||||
| **** | 12-2022 | **** | 0.109 | ||||||||||
| **** | 12-2023 | **** | 0.099 | ||||||||||
| **** | 12-2024 | **** | 0.089 | ||||||||||
| **** | 12-2025 | **** | 0.080 | ||||||||||
| **** | 12-2026 | **** | 0.071 | ||||||||||
| **** | 12-2027 | **** | 0.064 | ||||||||||
| **** | 12-2028 | **** | 0.058 | ||||||||||
| **** | 12-2029 | **** | 0.052 | ||||||||||
| **** | 12-2030 | **** | 0.047 | ||||||||||
| **** | 12-2031 | **** | 0.042 | ||||||||||
| **** | 12-2032 | **** | 0.038 | ||||||||||
| **** | 12-2033 | **** | 0.034 | ||||||||||
| **** | 12-2034 | **** | 0.031 | ||||||||||
| **** | 12-2035 | **** | 0.028 | ||||||||||
| **** | S Tot | **** | 0.965 | ||||||||||
| **** | After | **** | 0.128 | ||||||||||
| **** | Total | **** | 1.093 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) | (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End | Production<br>Taxes | Ad Valorem<br>Taxes | Wells | Operating<br>Expense | Other<br>Deductions | Investment | Future Net<br>Cash Flow | Cumulative<br>Cash Flow | Cum.Cash Flow<br>Disc.@ 10.0% | ||||
| Net | |||||||||||||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 78.436 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 61.643 |
| **** | Revenue | **** | 15.00 | **** | 50.867 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 43.469 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 38.110 |
| **** | 30.00 | **** | 34.060 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB15QE00 | 12 Months in first year | ||||||||
| 21.750 Year Life (10/2042) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 93 | YE2020 01/29/2021 15:43:24 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 106 |
Cawley, Gillespie & Associates, Inc.
Table 107
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
CHEVRON USA INC — EMPEROR 24 1
EMPEROR (SIMPSON) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: 42495329390000 CODE: 242, | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB176D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 133 | YE2020 01/29/2021 15:43:24 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 107 |
Cawley, Gillespie & Associates, Inc.
Table 108
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MCCABE FP
EMPEROR & HALLEY (YATES) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.048 | ||||||||||
| **** | 12-2022 | **** | 0.044 | ||||||||||
| **** | 12-2023 | **** | 0.040 | ||||||||||
| **** | 12-2024 | **** | 0.036 | ||||||||||
| **** | 12-2025 | **** | 0.033 | ||||||||||
| **** | 12-2026 | **** | 0.030 | ||||||||||
| **** | 12-2027 | **** | 0.026 | ||||||||||
| **** | 12-2028 | **** | 0.024 | ||||||||||
| **** | 12-2029 | **** | 0.022 | ||||||||||
| **** | 12-2030 | **** | 0.019 | ||||||||||
| **** | 12-2031 | **** | 0.018 | ||||||||||
| **** | 12-2032 | **** | 0.016 | ||||||||||
| **** | 12-2033 | **** | 0.015 | ||||||||||
| **** | 12-2034 | **** | 0.013 | ||||||||||
| **** | 12-2035 | **** | 0.012 | ||||||||||
| **** | S Tot | **** | 0.397 | ||||||||||
| **** | After | **** | 0.009 | ||||||||||
| **** | Total | **** | 0.406 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 11.565 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 9.290 |
| **** | Revenue | **** | 15.00 | **** | 7.749 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 6.654 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 5.845 |
| **** | 30.00 | **** | 5.227 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12KE00 | 12 Months in first year | ||||||||
| 15.833 Year Life (10/2036) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 3 | YE2020 01/29/2021 15:43:24 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 108 |
Cawley, Gillespie & Associates, Inc.
Table 109
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS BROWN ALTMAN PROPERTIES
EMPEROR, EMPEROR EAST (VARIOUS) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 6.225 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 5.706 |
| **** | Revenue | **** | 15.00 | **** | 5.274 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 4.911 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 4.602 |
| **** | 30.00 | **** | 4.336 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12NE00 | 12 Months in first year | ||||||||
| 6.250 Year Life (04/2027) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 5 | YE2020 01/29/2021 15:43:24 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 109 |
Cawley, Gillespie & Associates, Inc.
Table 110
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— VARIOUS BROWN-ALTMAN PROPERTIES
EMPEROR, KERMIT, WEINER (VARIOUS) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.800 | ||||||||||
| **** | 12-2022 | **** | 0.761 | ||||||||||
| **** | 12-2023 | **** | 0.723 | ||||||||||
| **** | 12-2024 | **** | 0.687 | ||||||||||
| **** | 12-2025 | **** | 0.652 | ||||||||||
| **** | 12-2026 | **** | 0.620 | ||||||||||
| **** | 12-2027 | **** | 0.589 | ||||||||||
| **** | 12-2028 | **** | 0.559 | ||||||||||
| **** | 12-2029 | **** | 0.531 | ||||||||||
| **** | 12-2030 | **** | 0.505 | ||||||||||
| **** | 12-2031 | **** | 0.479 | ||||||||||
| **** | 12-2032 | **** | 0.456 | ||||||||||
| **** | 12-2033 | **** | 0.433 | ||||||||||
| **** | 12-2034 | **** | 0.411 | ||||||||||
| **** | 12-2035 | **** | 0.390 | ||||||||||
| **** | S Tot | **** | 8.595 | ||||||||||
| **** | After | **** | 5.771 | ||||||||||
| **** | Total | **** | 14.366 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 590.823 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 407.557 |
| **** | Revenue | **** | 15.00 | **** | 313.137 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 256.134 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 218.039 |
| **** | 30.00 | **** | 190.775 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB161E00 | 12 Months in first year | ||||||||
| 44.333 Year Life (04/2065) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 126 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 110 |
Cawley, Gillespie & Associates, Inc.
Table 111
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— HALLEY UNIT & OTHER HALLEY
HALLEY, EMPEROR, WEINER (VARIOUS) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 1.590 | ||||||||||
| **** | 12-2022 | **** | 1.327 | ||||||||||
| **** | 12-2023 | **** | 1.109 | ||||||||||
| **** | 12-2024 | **** | 0.925 | ||||||||||
| **** | 12-2025 | **** | 0.773 | ||||||||||
| **** | 12-2026 | **** | 0.645 | ||||||||||
| **** | 12-2027 | **** | 0.539 | ||||||||||
| **** | 12-2028 | **** | 0.450 | ||||||||||
| **** | 12-2029 | **** | 0.375 | ||||||||||
| **** | 12-2030 | **** | 0.314 | ||||||||||
| **** | 12-2031 | **** | 0.262 | ||||||||||
| **** | 12-2032 | **** | 0.219 | ||||||||||
| **** | 12-2033 | **** | 0.095 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 8.623 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 8.623 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 594.711 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 507.521 |
| **** | Revenue | **** | 15.00 | **** | 443.174 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 394.168 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 355.822 |
| **** | 30.00 | **** | 325.110 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12LE00 | 12 Months in first year | ||||||||
| 12.500 Year Life (07/2033) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 4 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 111 |
Cawley, Gillespie & Associates, Inc.
Table 112
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— HENDRICK TG & OTHER HENDRICK
HENDRICK (Various) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 2.673 | ||||||||||
| **** | 12-2022 | **** | 2.553 | ||||||||||
| **** | 12-2023 | **** | 2.438 | ||||||||||
| **** | 12-2024 | **** | 2.329 | ||||||||||
| **** | 12-2025 | **** | 2.224 | ||||||||||
| **** | 12-2026 | **** | 2.123 | ||||||||||
| **** | 12-2027 | **** | 2.028 | ||||||||||
| **** | 12-2028 | **** | 1.936 | ||||||||||
| **** | 12-2029 | **** | 1.850 | ||||||||||
| **** | 12-2030 | **** | 1.766 | ||||||||||
| **** | 12-2031 | **** | 1.687 | ||||||||||
| **** | 12-2032 | **** | 1.611 | ||||||||||
| **** | 12-2033 | **** | 1.539 | ||||||||||
| **** | 12-2034 | **** | 1.469 | ||||||||||
| **** | 12-2035 | **** | 1.403 | ||||||||||
| **** | S Tot | **** | 29.630 | ||||||||||
| **** | After | **** | 23.812 | ||||||||||
| **** | Total | **** | 53.441 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 1,080.856 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 731.532 |
| **** | Revenue | **** | 15.00 | **** | 557.196 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 453.512 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 384.810 |
| **** | 30.00 | **** | 335.916 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12OE00 | 12 Months in first year | ||||||||
| 49.917 Year Life (12/2070) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 6 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 112 |
Cawley, Gillespie & Associates, Inc.
Table 113
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— TB HENDRICK #3 & “A” #2
HENDRICK (Various) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16OE00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 127 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 113 |
Cawley, Gillespie & Associates, Inc.
Table 114
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— JENKINS VARIOUS
KEYSTONE (COLBY, MCKEE, SILUR) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 1.334 | ||||||||||
| **** | 12-2022 | **** | 1.248 | ||||||||||
| **** | 12-2023 | **** | 1.167 | ||||||||||
| **** | 12-2024 | **** | 1.091 | ||||||||||
| **** | 12-2025 | **** | 1.020 | ||||||||||
| **** | 12-2026 | **** | 0.954 | ||||||||||
| **** | 12-2027 | **** | 0.892 | ||||||||||
| **** | 12-2028 | **** | 0.834 | ||||||||||
| **** | 12-2029 | **** | 0.779 | ||||||||||
| **** | 12-2030 | **** | 0.729 | ||||||||||
| **** | 12-2031 | **** | 0.681 | ||||||||||
| **** | 12-2032 | **** | 0.637 | ||||||||||
| **** | 12-2033 | **** | 0.596 | ||||||||||
| **** | 12-2034 | **** | 0.557 | ||||||||||
| **** | 12-2035 | **** | 0.521 | ||||||||||
| **** | S Tot | **** | 13.040 | ||||||||||
| **** | After | **** | 5.449 | ||||||||||
| **** | Total | **** | 18.489 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 473.665 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 343.201 |
| **** | Revenue | **** | 15.00 | **** | 270.288 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 224.328 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 192.815 |
| **** | 30.00 | **** | 169.874 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12SE00 | 12 Months in first year | ||||||||
| 34.333 Year Life (04/2055) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 8 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 114 |
Cawley, Gillespie & Associates, Inc.
Table 115
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— KEYSTONE HOLT UNIT
KEYSTONE (HOLT) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 1.196 | ||||||||||
| **** | 12-2022 | **** | 1.124 | ||||||||||
| **** | 12-2023 | **** | 1.057 | ||||||||||
| **** | 12-2024 | **** | 0.993 | ||||||||||
| **** | 12-2025 | **** | 0.933 | ||||||||||
| **** | 12-2026 | **** | 0.878 | ||||||||||
| **** | 12-2027 | **** | 0.825 | ||||||||||
| **** | 12-2028 | **** | 0.776 | ||||||||||
| **** | 12-2029 | **** | 0.729 | ||||||||||
| **** | 12-2030 | **** | 0.685 | ||||||||||
| **** | 12-2031 | **** | 0.644 | ||||||||||
| **** | 12-2032 | **** | 0.605 | ||||||||||
| **** | 12-2033 | **** | 0.569 | ||||||||||
| **** | 12-2034 | **** | 0.535 | ||||||||||
| **** | 12-2035 | **** | 0.502 | ||||||||||
| **** | S Tot | **** | 12.052 | ||||||||||
| **** | After | **** | 5.827 | ||||||||||
| **** | Total | **** | 17.878 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 428.259 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 305.816 |
| **** | Revenue | **** | 15.00 | **** | 238.993 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 197.434 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 169.172 |
| **** | 30.00 | **** | 148.711 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12TE00 | 12 Months in first year | ||||||||
| 36.750 Year Life (10/2057) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 9 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 115 |
Cawley, Gillespie & Associates, Inc.
Table 116
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MCCUTCHEN W A VARIOUS
KEYSTONE (COLBY, MCKEE) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.107 | ||||||||||
| **** | 12-2022 | **** | 0.096 | ||||||||||
| **** | 12-2023 | **** | 0.086 | ||||||||||
| **** | 12-2024 | **** | 0.078 | ||||||||||
| **** | 12-2025 | **** | 0.070 | ||||||||||
| **** | 12-2026 | **** | 0.063 | ||||||||||
| **** | 12-2027 | **** | 0.056 | ||||||||||
| **** | 12-2028 | **** | 0.051 | ||||||||||
| **** | 12-2029 | **** | 0.046 | ||||||||||
| **** | 12-2030 | **** | 0.041 | ||||||||||
| **** | 12-2031 | **** | 0.037 | ||||||||||
| **** | 12-2032 | **** | 0.033 | ||||||||||
| **** | 12-2033 | **** | 0.030 | ||||||||||
| **** | 12-2034 | **** | 0.027 | ||||||||||
| **** | 12-2035 | **** | 0.025 | ||||||||||
| **** | S Tot | **** | 0.846 | ||||||||||
| **** | After | **** | 0.120 | ||||||||||
| **** | Total | **** | 0.966 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 68.879 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 54.015 |
| **** | Revenue | **** | 15.00 | **** | 44.529 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 38.036 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 33.340 |
| **** | 30.00 | **** | 29.794 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB16DD00 | 12 Months in first year | ||||||||
| 22.500 Year Life (07/2043) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 128 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 116 |
Cawley, Gillespie & Associates, Inc.
Table 117
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SO KEYSTONE ELLENBURGER UNIT
KEYSTONE (ELLENBURGER) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 188.299 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 155.866 |
| **** | Revenue | **** | 15.00 | **** | 133.128 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 116.490 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 103.872 |
| **** | 30.00 | **** | 94.010 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12VE00 | 12 Months in first year | ||||||||
| 15.583 Year Life (07/2036) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 10 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 117 |
Cawley, Gillespie & Associates, Inc.
Table 118
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— SO KEYSTONE SILURIAN UNIT
KEYSTONE (VARIOUS) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.232 | ||||||||||
| **** | 12-2022 | **** | 0.197 | ||||||||||
| **** | 12-2023 | **** | 0.167 | ||||||||||
| **** | 12-2024 | **** | 0.142 | ||||||||||
| **** | 12-2025 | **** | 0.121 | ||||||||||
| **** | 12-2026 | **** | 0.103 | ||||||||||
| **** | 12-2027 | **** | 0.087 | ||||||||||
| **** | 12-2028 | **** | 0.074 | ||||||||||
| **** | 12-2029 | **** | 0.063 | ||||||||||
| **** | 12-2030 | **** | 0.054 | ||||||||||
| **** | 12-2031 | **** | 0.046 | ||||||||||
| **** | 12-2032 | **** | 0.039 | ||||||||||
| **** | 12-2033 | **** | 0.026 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 1.350 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 1.350 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 42.113 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 35.634 |
| **** | Revenue | **** | 15.00 | **** | 30.904 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 27.335 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 24.565 |
| **** | 30.00 | **** | 22.362 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB12QE00 | 12 Months in first year | ||||||||
| 12.750 Year Life (10/2033) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 7 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 118 |
Cawley, Gillespie & Associates, Inc.
Table 119
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— TALVEZ (7) (TRUST)
KEYSTONE (DEVONIAN, SILURIAN) FIELD — WINKLER COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB170D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 129 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| GAS PDP | |||||||||
| Table 119 |
Cawley, Gillespie & Associates, Inc.
Table 120
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— OWNBY SADR & CENTRAL OWNBY UNITS
OWNBY (SAN ANDRES & CLRFK) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 0.411 | ||||||||||
| **** | 12-2022 | **** | 0.368 | ||||||||||
| **** | 12-2023 | **** | 0.330 | ||||||||||
| **** | 12-2024 | **** | 0.294 | ||||||||||
| **** | 12-2025 | **** | 0.264 | ||||||||||
| **** | 12-2026 | **** | 0.236 | ||||||||||
| **** | 12-2027 | **** | 0.212 | ||||||||||
| **** | 12-2028 | **** | 0.190 | ||||||||||
| **** | 12-2029 | **** | 0.169 | ||||||||||
| **** | 12-2030 | **** | 0.152 | ||||||||||
| **** | 12-2031 | **** | 0.136 | ||||||||||
| **** | 12-2032 | **** | 0.122 | ||||||||||
| **** | 12-2033 | **** | 0.108 | ||||||||||
| **** | 12-2034 | **** | 0.097 | ||||||||||
| **** | 12-2035 | **** | 0.087 | ||||||||||
| **** | S Tot | **** | 3.174 | ||||||||||
| **** | After | **** | 0.360 | ||||||||||
| **** | Total | **** | 3.534 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 95.917 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 75.958 |
| **** | Revenue | **** | 15.00 | **** | 62.995 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 54.017 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 47.474 |
| **** | 30.00 | **** | 42.508 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB121D00 | 12 Months in first year | ||||||||
| 21.000 Year Life (01/2042) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 14 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 120 |
Cawley, Gillespie & Associates, Inc.
Table 121
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— BENNETT RANCH UNIT
WASSON (Various) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 8.488 | ||||||||||
| **** | 12-2022 | **** | 7.958 | ||||||||||
| **** | 12-2023 | **** | 7.441 | ||||||||||
| **** | 12-2024 | **** | 6.957 | ||||||||||
| **** | 12-2025 | **** | 6.505 | ||||||||||
| **** | 12-2026 | **** | 6.082 | ||||||||||
| **** | 12-2027 | **** | 5.687 | ||||||||||
| **** | 12-2028 | **** | 5.317 | ||||||||||
| **** | 12-2029 | **** | 4.972 | ||||||||||
| **** | 12-2030 | **** | 4.648 | ||||||||||
| **** | 12-2031 | **** | 4.346 | ||||||||||
| **** | 12-2032 | **** | 4.064 | ||||||||||
| **** | 12-2033 | **** | 3.800 | ||||||||||
| **** | 12-2034 | **** | 3.553 | ||||||||||
| **** | 12-2035 | **** | 3.322 | ||||||||||
| **** | S Tot | **** | 83.141 | ||||||||||
| **** | After | **** | 34.897 | ||||||||||
| **** | Total | **** | 118.037 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 2,740.341 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 1,984.806 |
| **** | Revenue | **** | 15.00 | **** | 1,562.849 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 1,296.939 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 1,114.632 |
| **** | 30.00 | **** | 981.918 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB171D00 | 12 Months in first year | ||||||||
| 34.500 Year Life (07/2055) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 130 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 121 |
Cawley, Gillespie & Associates, Inc.
Table 122
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— DENVER UNIT
WASSON (Various) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EndMo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProductionMBBLS | Net GasSalesMMCF | Avg OilPrice /BBL | Avg GasPrice /MCF | OilRevenueM | GasRevenueM | TotalRevenueM | ||||
| **** | 12-2021 | **** | 34.634 | ||||||||||
| **** | 12-2022 | **** | 33.076 | ||||||||||
| **** | 12-2023 | **** | 31.587 | ||||||||||
| **** | 12-2024 | **** | 30.166 | ||||||||||
| **** | 12-2025 | **** | 28.808 | ||||||||||
| **** | 12-2026 | **** | 27.512 | ||||||||||
| **** | 12-2027 | **** | 26.274 | ||||||||||
| **** | 12-2028 | **** | 25.092 | ||||||||||
| **** | 12-2029 | **** | 23.962 | ||||||||||
| **** | 12-2030 | **** | 22.885 | ||||||||||
| **** | 12-2031 | **** | 21.854 | ||||||||||
| **** | 12-2032 | **** | 20.871 | ||||||||||
| **** | 12-2033 | **** | 19.932 | ||||||||||
| **** | 12-2034 | **** | 19.035 | ||||||||||
| **** | 12-2035 | **** | 18.178 | ||||||||||
| **** | S Tot | **** | 383.865 | ||||||||||
| **** | After | **** | 307.897 | ||||||||||
| **** | Total | **** | 691.762 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 13,916.913 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 9,412.626 |
| **** | Revenue | **** | 15.00 | **** | 7,166.377 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 5,831.271 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 4,946.987 |
| **** | 30.00 | **** | 4,317.850 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB121E00 | 12 Months in first year | ||||||||
| 49.750 Year Life (10/2070) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 13 | YE2020 01/29/2021 15:43:25 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 122 |
Cawley, Gillespie & Associates, Inc.
Table 123
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WOOTEN H
WASSON (Various) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.000 | ||||||||||
| **** | 12-2022 | **** | 0.000 | ||||||||||
| **** | 12-2023 | **** | 0.000 | ||||||||||
| **** | 12-2024 | **** | 0.000 | ||||||||||
| **** | 12-2025 | **** | 0.000 | ||||||||||
| **** | 12-2026 | **** | 0.000 | ||||||||||
| **** | 12-2027 | **** | 0.000 | ||||||||||
| **** | 12-2028 | **** | 0.000 | ||||||||||
| **** | 12-2029 | **** | 0.000 | ||||||||||
| **** | 12-2030 | **** | 0.000 | ||||||||||
| **** | 12-2031 | **** | 0.000 | ||||||||||
| **** | 12-2032 | **** | 0.000 | ||||||||||
| **** | 12-2033 | **** | 0.000 | ||||||||||
| **** | 12-2034 | **** | 0.000 | ||||||||||
| **** | 12-2035 | **** | 0.000 | ||||||||||
| **** | S Tot | **** | 0.000 | ||||||||||
| **** | After | **** | 0.000 | ||||||||||
| **** | Total | **** | 0.000 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 0.000 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 0.000 |
| **** | Revenue | **** | 15.00 | **** | 0.000 | ||||
| **** | Oil | **** | 0.0000 | **** | 0.0000 | **** | 20.00 | **** | 0.000 |
| **** | Gas | **** | 0.0000 | **** | 0.0000 | **** | 25.00 | **** | 0.000 |
| **** | 30.00 | **** | 0.000 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB173D00 | 12 Months in first year | ||||||||
| 0.000 Year Life (01/2021) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 131 | YE2020 01/29/2021 15:43:26 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 123 |
Cawley, Gillespie & Associates, Inc.
Table 124
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— WASSON NORTH CLFK UNIT
WASSON & WASSON NORTHEAST (Various) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 1.192 | ||||||||||
| **** | 12-2022 | **** | 1.115 | ||||||||||
| **** | 12-2023 | **** | 1.043 | ||||||||||
| **** | 12-2024 | **** | 0.975 | ||||||||||
| **** | 12-2025 | **** | 0.911 | ||||||||||
| **** | 12-2026 | **** | 0.852 | ||||||||||
| **** | 12-2027 | **** | 0.797 | ||||||||||
| **** | 12-2028 | **** | 0.745 | ||||||||||
| **** | 12-2029 | **** | 0.696 | ||||||||||
| **** | 12-2030 | **** | 0.651 | ||||||||||
| **** | 12-2031 | **** | 0.609 | ||||||||||
| **** | 12-2032 | **** | 0.569 | ||||||||||
| **** | 12-2033 | **** | 0.532 | ||||||||||
| **** | 12-2034 | **** | 0.498 | ||||||||||
| **** | 12-2035 | **** | 0.465 | ||||||||||
| **** | S Tot | **** | 11.652 | ||||||||||
| **** | After | **** | 4.807 | ||||||||||
| **** | Total | **** | 16.459 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 380.051 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 275.595 |
| **** | Revenue | **** | 15.00 | **** | 217.095 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 180.192 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 154.882 |
| **** | 30.00 | **** | 136.455 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB123D00 | 12 Months in first year | ||||||||
| 33.833 Year Life (10/2054) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 15 | YE2020 01/29/2021 15:43:26 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 124 |
Cawley, Gillespie & Associates, Inc.
Table 125
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— MILLER ANNIE, STEVENS SUE & SMAR
WASSON (WICHITA ALBANY) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 0.722 | ||||||||||
| **** | 12-2022 | **** | 0.671 | ||||||||||
| **** | 12-2023 | **** | 0.624 | ||||||||||
| **** | 12-2024 | **** | 0.580 | ||||||||||
| **** | 12-2025 | **** | 0.539 | ||||||||||
| **** | 12-2026 | **** | 0.502 | ||||||||||
| **** | 12-2027 | **** | 0.467 | ||||||||||
| **** | 12-2028 | **** | 0.435 | ||||||||||
| **** | 12-2029 | **** | 0.404 | ||||||||||
| **** | 12-2030 | **** | 0.375 | ||||||||||
| **** | 12-2031 | **** | 0.349 | ||||||||||
| **** | 12-2032 | **** | 0.324 | ||||||||||
| **** | 12-2033 | **** | 0.302 | ||||||||||
| **** | 12-2034 | **** | 0.281 | ||||||||||
| **** | 12-2035 | **** | 0.261 | ||||||||||
| **** | S Tot | **** | 6.836 | ||||||||||
| **** | After | **** | 2.454 | ||||||||||
| **** | Total | **** | 9.290 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 220.819 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 162.250 |
| **** | Revenue | **** | 15.00 | **** | 128.743 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 107.337 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 92.538 |
| **** | 30.00 | **** | 81.706 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB124D00 | 12 Months in first year | ||||||||
| 31.917 Year Life (12/2052) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 16 | YE2020 01/29/2021 15:43:26 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 125 |
Cawley, Gillespie & Associates, Inc.
Table 126
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— YOAKUM WASSON CLEARFORK UNIT
WASSON 72 (Various) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Oil | Gross Gas | Net Oil | Net Gas | Avg Oil | Avg Gas | Oil | Gas | Total | |||||
| End | Production | Production | Production | Sales | Price | Price | Revenue | Revenue | Revenue | ||||
| Mo-Year | MBBLS | MMCF | MBBLS | MMCF | /BBL | /MCF | M | M | M | ||||
| **** | 12-2021 | **** | 2.902 | ||||||||||
| **** | 12-2022 | **** | 2.535 | ||||||||||
| **** | 12-2023 | **** | 2.233 | ||||||||||
| **** | 12-2024 | **** | 1.982 | ||||||||||
| **** | 12-2025 | **** | 1.772 | ||||||||||
| **** | 12-2026 | **** | 1.593 | ||||||||||
| **** | 12-2027 | **** | 1.439 | ||||||||||
| **** | 12-2028 | **** | 1.307 | ||||||||||
| **** | 12-2029 | **** | 1.192 | ||||||||||
| **** | 12-2030 | **** | 1.093 | ||||||||||
| **** | 12-2031 | **** | 1.005 | ||||||||||
| **** | 12-2032 | **** | 0.926 | ||||||||||
| **** | 12-2033 | **** | 0.858 | ||||||||||
| **** | 12-2034 | **** | 0.796 | ||||||||||
| **** | 12-2035 | **** | 0.740 | ||||||||||
| **** | S Tot | **** | 22.373 | ||||||||||
| **** | After | **** | 6.594 | ||||||||||
| **** | Total | **** | 28.968 | ||||||||||
| **** | Cum | ||||||||||||
| **** | Ult | ||||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | ||||
| Production | Ad Valorem | Wells | Operating | Other | Future Net | Cumulative | Cum.Cash Flow | ||||||
| End | Taxes | Taxes | Gross | Net | Expense | Deductions | Investment | Cash Flow | Cash Flow | Disc.@ 10.0% | |||
| Mo-Year | M | M | Count | M | M | M | M | M | M | ||||
| **** | 12-2021 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2022 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2023 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2024 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2025 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2026 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2027 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2028 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2029 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2030 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2031 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2032 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2033 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2034 | **** | .0 | **** | .0 | ||||||||
| **** | 12-2035 | **** | .0 | **** | .0 | ||||||||
| **** | S Tot | **** | .0 | ||||||||||
| **** | After | **** | .0 | ||||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 720.549 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 546.574 |
| **** | Revenue | **** | 15.00 | **** | 443.989 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 376.939 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 329.710 |
| **** | 30.00 | **** | 294.579 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB126D00 | 12 Months in first year | ||||||||
| 28.583 Year Life (07/2049) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 17 | YE2020 01/29/2021 15:43:26 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 126 |
Cawley, Gillespie & Associates, Inc.
Table 127
Reserve Estimates and Economic Forecasts as of December 31, 2020
Permian Basin Royalty Trust Interests - Texas Royalty Properties
Proved Developed Producing Reserves
— EAST WASSON CLEARFORK UNIT
WASSON NORTHEAST (CLEARFORK) FIELD — YOAKUM COUNTY, TEXAS
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End<br>Mo-Year | Gross OilProductionMBBLS | Gross GasProductionMMCF | Net OilProduction<br>MBBLS | Net GasSalesMMCF | Avg OilPrice/BBL | Avg GasPrice/MCF | OilRevenueM | GasRevenueM | TotalRevenueM | |||
| **** | 12-2021 | **** | 0.045 | |||||||||
| **** | 12-2022 | **** | 0.039 | |||||||||
| **** | 12-2023 | **** | 0.033 | |||||||||
| **** | 12-2024 | **** | 0.028 | |||||||||
| **** | 12-2025 | **** | 0.025 | |||||||||
| **** | 12-2026 | **** | 0.021 | |||||||||
| **** | 12-2027 | **** | 0.019 | |||||||||
| **** | 12-2028 | **** | 0.016 | |||||||||
| **** | 12-2029 | **** | 0.013 | |||||||||
| **** | 12-2030 | **** | 0.011 | |||||||||
| **** | 12-2031 | **** | 0.001 | |||||||||
| **** | 12-2032 | **** | 0.000 | |||||||||
| **** | 12-2033 | **** | 0.000 | |||||||||
| **** | 12-2034 | **** | 0.000 | |||||||||
| **** | 12-2035 | **** | 0.000 | |||||||||
| **** | S Tot | **** | 0.251 | |||||||||
| **** | After | **** | 0.000 | |||||||||
| **** | Total | **** | 0.251 | |||||||||
| **** | Cum | |||||||||||
| **** | Ult | |||||||||||
| (11) | (12) | (13) | (14) (15) | (16) | (17) | (18) | (19) | (20) | (21) | |||
| End | Production<br>Taxes | Ad Valorem<br>Taxes | Wells | Operating<br>Expense | Other<br>Deductions | Investment | Future Net<br>Cash Flow | Cumulative<br>Cash Flow | Cum.Cash Flow<br>Disc.@ 10.0% | |||
| Net | ||||||||||||
| Mo-Year | M | M | Count | M | M | M | M | M | M | |||
| **** | 12-2021 | **** | .0 | .0 | ||||||||
| **** | 12-2022 | **** | .0 | .0 | ||||||||
| **** | 12-2023 | **** | .0 | .0 | ||||||||
| **** | 12-2024 | **** | .0 | .0 | ||||||||
| **** | 12-2025 | **** | .0 | .0 | ||||||||
| **** | 12-2026 | **** | .0 | .0 | ||||||||
| **** | 12-2027 | **** | .0 | .0 | ||||||||
| **** | 12-2028 | **** | .0 | .0 | ||||||||
| **** | 12-2029 | **** | .0 | .0 | ||||||||
| **** | 12-2030 | **** | .0 | .0 | ||||||||
| **** | 12-2031 | **** | .0 | .0 | ||||||||
| **** | 12-2032 | **** | .0 | .0 | ||||||||
| **** | 12-2033 | **** | .0 | .0 | ||||||||
| **** | 12-2034 | **** | .0 | .0 | ||||||||
| **** | 12-2035 | **** | .0 | .0 | ||||||||
| **** | S Tot | **** | .0 | |||||||||
| **** | After | **** | .0 | |||||||||
| **** | Total | **** | .0 |
All values are in US Dollars.
| Percent Interests | Percent | Cum. Disc. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Initial | Final | 5.00 | 7.625 | ||||||
| **** | Expense | **** | 0.0000 | **** | 0.0000 | **** | 10.00 | **** | 6.541 |
| **** | Revenue | **** | 15.00 | **** | 5.723 | ||||
| **** | Oil | **** | 100.0000 | **** | 100.0000 | **** | 20.00 | **** | 5.090 |
| **** | Gas | **** | 100.0000 | **** | 100.0000 | **** | 25.00 | **** | 4.589 |
| **** | 30.00 | **** | 4.186 | ||||||
| API: CODE: | |||||||||
| --- | --- | ||||||||
| PROPNUM: L8BB17CD00 | 12 Months in first year | ||||||||
| 10.083 Year Life (01/2031) | |||||||||
| THESE DATA ARE PART OF A CG&A REPORT AND ARE SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT. | ASN 137 | YE2020 01/29/2021 15:43:26 | |||||||
| --- | --- | --- | |||||||
| TEXAS REGISTERED ENGINEERING FIRM F-693. | |||||||||
| OIL PDP | |||||||||
| Table 127 |
Cawley, Gillespie & Associates, Inc.
WADDELL RANCH PROPERTIES
PERMIAN BASIN ROYALTY TRUST INTEREST COMPUTATION
On November 1, 1980, Southland Royalty Company transferred to the Trust a net overriding royalty equivalent to a 75 percent net profit interest of the Total Controlled Interests in Waddell Ranch. Production and revenue for the Trust are calculated from the projection of estimated reserves and income for the Total Controlled Interests. Production attributable to the Trust is computed by allocating a part of the Total Controlled Interests’ net production on a year by year basis. The allocation factor is given by:
| Allocation Factor | = | 0.75 x Net Profit |
|---|---|---|
| Gross Profit |
where
Net Profit = Revenue - Taxes* - Operating Costs - Investment
Gross Profit = Revenue - Taxes*
| * | Taxes include the Windfall Profit Tax and severance, but no ad valorem taxes. Ad valorem taxes are included in<br>operating costs. |
|---|
The Trust allocation factor is determined separately for oil and gas. Cost and investments divisions are made using the same ratio as the oil and gas divisions. Production and revenue (due to oil or gas) attributable to the Trust are calculated by multiplying the Total Controlled Interests’ net production by the respective Trust allocation factor for the particular year.
TEXAS ROYALTY PROPERTIES
PERMIAN BASIN ROYALTY TRUST INTEREST COMPUTATION
On November 1, 1980, Southland Royalty Company transferred to the Trust a net overriding royalty equivalent to a 95 percent net profit interest of the Total Controlled Interests in Texas Royalty Properties. Production and revenue for the Trust are calculated from the projection of estimated reserves and income for the Total Controlled Interests. Production attributable to the Trust is computed by allocating a part of the Total Controlled Interests’ net production on a year by year basis. The allocation factor is given by:
| Allocation Factor | = | 0.95 x Net Profit |
|---|---|---|
| Gross Profit |
where
Net Profit = Revenue - Windfall Profit Taxes - Severance Taxes - Ad Valorem Taxes
Gross Profit = Revenue - Windfall Profit Taxes - Severance Taxes
The Trust allocation factor is determined separately for oil and gas. Ad valorem tax divisions are made using the same ratio as the oil and gas divisions. Production and revenue (due to oil or gas) attributable to the Trust are calculated by multiplying the Total Controlled Interests’ net production by the respective Trust allocation factor for the particular year.
APPENDIX
Explanatory Comments for Summary Tables
HEADINGS
Table I
Description of Table Information
Identity of Interest Evaluated
Reserve Classification and Development Status
Property Description – Location
Effective Date of Evaluation
FORECAST
| (Columns) | |
|---|---|
| (1) (11) | Calendar or Fiscal years/months commencing on effective date. |
| (2) (3) | Gross Production (8/8th) for the years/months which are economical. These are expressed as thousands of barrels (Mbbl) and millions of cubic feet (MMcf) of gas at standard conditions. Total future production, cumulative<br>production to effective date, and ultimate recovery at the effective date are shown following the annual/monthly forecasts. |
| (4) (5) | Net Production accruable to evaluated interest is calculated by multiplying the revenue interest times the gross production. These values take into account changes in interest and gas shrinkage. |
| (6) | Average (volume weighted) gross liquid price per barrel before deducting production-severance taxes. |
| (7) | Average (volume weighted) gross gas price per Mcf before deducting production-severance taxes. |
| (8) | Revenue derived from oil sales — column (4) times column (6). |
| (9) | Revenue derived from gas sales — column (5) times column (7). |
| (10) | Total Revenue — column (8) plus column (9) plus other miscellaneous revenue. |
| (12) | Production-severance taxes deducted from gross oil and gas revenue. |
| (13) | Ad valorem taxes. |
| (14) | Average gross wells. |
| (15) | Average net wells are gross wells times working interest. |
| (16) | Operating Expenses are direct operating expenses to the evaluated working interest, but may also include items noted below in “Other Deductions”. In addition, ad valorem taxes can also be included in this<br>column. |
| (17) | Other Deductions include operator’s overhead, compression-gathering expenses, transportation costs, water disposal costs and net profits burdens. These are the share of costs payable by the evaluated expense interests<br>and take into account any changes in interests. |
| (18) | Investments, if any, include work-overs, future drilling costs, pumping units, etc. and may be included either tangible or intangible or both, and the costs for plugging and the salvage value of equipment at abandonment<br>may be shown as negative investments at end of life. |
| (19) (20) | Future Net Cash Flow is column (10) less columns (12), (13), (16), (17) and (18). The data in column (19) are accumulated in column (20). Federal income taxes have not been considered. |
| (21) | Cumulative Discounted Cash Flow is calculated by discounting monthly cash flows at the specified annual rates. |
| MISCELLANEOUS | |
| DCF Profile | • The cash flow discounted at six different rates are shown at the<br>bottom of columns (20-21). Interest has been compounded once per year. |
| Life | • The economic life of the appraised property is noted in the lower<br>right-hand corner of the table. |
| Footnotes | • Comments regarding the evaluation may be shown in the lower<br>left-hand footnotes. |
| Cawley, Gillespie & Associates, Inc. | Appendix<br><br><br>Page 1 |
| --- | --- |
APPENDIX
Methods Employed in the Estimation of Reserves
The four methods customarily employed in the estimation of reserves are (1)production performance, (2)material balance, (3)volumetric and (4)analogy. Most estimates, although based primarily on one method, utilize other methods depending on the nature and extent of the data available and the characteristics of the reservoirs.
Basic information includes production, pressure, geological and laboratory data. However, a large variation exists in the quality, quantity and types of information available on individual properties. Operators are generally required by regulatory authorities to file monthly production reports and may be required to measure and report periodically such data as well pressures, gas-oil ratios, well tests, etc. As a general rule, an operator has complete discretion in obtaining and/or making available geological and engineering data. The resulting lack of uniformity in data renders impossible the application of identical methods to all properties, and may result in significant differences in the accuracy and reliability of estimates.
A brief discussion of each method, its basis, data requirements, applicability and generalization as to its relative degree of accuracy follows:
Production performance. This method employs graphical analyses of production data on the premise that all factors which have controlled the performance to date will continue to control and that historical trends can be extrapolated to predict future performance. The only information required is production history. Capacity production can usually be analyzed from graphs of rates versus time or cumulative production. This procedure is referred to as “decline curve” analysis. Both capacity and restricted production can, in some cases, be analyzed from graphs of producing rate relationships of the various production components. Reserve estimates obtained by this method are generally considered to have a relatively high degree of accuracy with the degree of accuracy increasing as production history accumulates.
Material balance. This method employs the analysis of the relationship of production and pressure performance on the premise that the reservoir volume and its initial hydrocarbon content are fixed and that this initial hydrocarbon volume and recoveries therefrom can be estimated by analyzing changes in pressure with respect to production relationships. This method requires reliable pressure and temperature data, production data, fluid analyses and knowledge of the nature of the reservoir. The material balance method is applicable to all reservoirs, but the time and expense required for its use is dependent on the nature of the reservoir and its fluids. Reserves for depletion type reservoirs can be estimated from graphs of pressures corrected for compressibility versus cumulative production, requiring only data that are usually available. Estimates for other reservoir types require extensive data and involve complex calculations most suited to computer models which makes this method generally applicable only to reservoirs where there is economic justification for its use. Reserve estimates obtained by this method are generally considered to have a degree of accuracy that is directly related to the complexity of the reservoir and the quality and quantity of data available.
Volumetric. This method employs analyses of physical measurements of rock and fluid properties to calculate the volume of hydrocarbons in-place. The data required are well information sufficient to determine reservoir subsurface datum, thickness, storage volume, fluid content and location. The volumetric method is most applicable to reservoirs which are not susceptible to analysis by production performance or material balance methods. These are most commonly newly developed and/or no-pressure depleting reservoirs. The amount of hydrocarbons in-place that can be recovered is not an integral part of the volumetric calculations but is an estimate inferred by other methods and a knowledge of the nature of the reservoir. Reserve estimates obtained by this method are generally considered to have a low degree of accuracy; but the degree of accuracy can be relatively high where rock quality and subsurface control is good and the nature of the reservoir is uncomplicated.
Analogy. This method which employs experience and judgment to estimate reserves, is based on observations of similar situations and includes consideration of theoretical performance. The analogy method is applicable where the data are insufficient or so inconclusive that reliable reserve estimates cannot be made by other methods. Reserve estimates obtained by this method are generally considered to have a relatively low degree of accuracy.
Much of the information used in the estimation of reserves is itself arrived at by the use of estimates. These estimates are subject to continuing change as additional information becomes available. Reserve estimates which presently appear to be correct may be found to contain substantial errors as time passes and new information is obtained about well and reservoir performance.
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APPENDIX
Reserve Definitions and Classifications
The Securities and Exchange Commission, in SX Reg. 210.4-10 dated November 18, 1981, as amended on September 19, 1989 and January 1, 2010, requires adherence to the following definitions of oil and gas reserves:
“(22) Proved oil and gas reserves. Proved oil and gas reserves are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible—from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations— prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. The project to extract the hydrocarbons must have commenced or the operator must be reasonably certain that it will commence the project within a reasonable time.
“(i) The area of a reservoir considered as proved includes: (A) The area identified by drilling and limited by fluid contacts, if any, and (B) Adjacent undrilled portions of the reservoir that can, with reasonable certainty, be judged to be continuous with it and to contain economically producible oil or gas on the basis of available geoscience and engineering data.
“(ii) In the absence of data on fluid contacts, proved quantities in a reservoir are limited by the lowest known hydrocarbons (LKH) as seen in a well penetration unless geoscience, engineering, or performance data and reliable technology establishes a lower contact with reasonable certainty.
“(iii) Where direct observation from well penetrations has defined a highest known oil (HKO) elevation and the potential exists for an associated gas cap, proved oil reserves may be assigned in the structurally higher portions of the reservoir only if geoscience, engineering, or performance data and reliable technology establish the higher contact with reasonable certainty. “(iv) Reserves which can be produced economically through application of improved recovery techniques (including, but not limited to, fluid injection) are included in the proved classification when: (A) Successful testing by a pilot project in an area of the reservoir with properties no more favorable than in the reservoir as a whole, the operation of an installed program in the reservoir or an analogous reservoir, or other evidence using reliable technology establishes the reasonable certainty of the engineering analysis on which the project or program was based; and (B) The project has been approved for development by all necessary parties and entities, including governmental entities.
“(v) Existing economic conditions include prices and costs at which economic producibility from a reservoir is to be determined. The price shall be the average price during the 12-month period prior to the ending date of the period covered by the report, determined as an unweighted arithmetic average of the first-day-of-the-month price for each month within such period, unless prices are defined by contractual arrangements, excluding escalations based upon future conditions.
“(6) Developed oil and gas reserves. Developed oil and gas reserves are reserves of any category that can be expected to be recovered:
“(i) Through existing wells with existing equipment and operating methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well; and
“(ii) Through installed extraction equipment and infrastructure operational at the time of the reserves estimate if the extraction is by means not involving a well.
“(31) Undeveloped oil and gas reserves. Undeveloped oil and gas reserves are reserves of any category that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for recompletion.
“(i) Reserves on undrilled acreage shall be limited to those directly offsetting development spacing areas that are reasonably certain of production when drilled, unless evidence using reliable technology exists that establishes reasonable certainty of economic producibility at greater distances.
“(ii) Undrilled locations can be classified as having undeveloped reserves only if a development plan has been adopted indicating that they are scheduled to be drilled within five years, unless the specific circumstances, justify a longer time.
“(iii) Under no circumstances shall estimates for undeveloped reserves be attributable to any acreage for which an application of fluid injection or other improved recovery technique is contemplated, unless such techniques have been proved effective by actual projects in the same reservoir or an analogous reservoir, as defined in paragraph (a)(2) of this section, or by other evidence using reliable technology establishing reasonable certainty.
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“(18) Probable reserves. Probable reserves are those additional reserves that are less certain to be recovered than proved reserves but which, together with proved reserves, are as likely as not to be recovered.
“(i) When deterministic methods are used, it is as likely as not that actual remaining quantities recovered will exceed the sum of estimated proved plus probable reserves. When probabilistic methods are used, there should be at least a 50% probability that the actual quantities recovered will equal or exceed the proved plus probable reserves estimates.
“(ii) Probable reserves may be assigned to areas of a reservoir adjacent to proved reserves where data control or interpretations of available data are less certain, even if the interpreted reservoir continuity of structure or productivity does not meet the reasonable certainty criterion. Probable reserves may be assigned to areas that are structurally higher than the proved area if these areas are in communication with the proved reservoir.
“(iii) Probable reserves estimates also include potential incremental quantities associated with a greater percentage recovery of the hydrocarbons in place than assumed for proved reserves.
“(iv) See also guidelines in paragraphs (17)(iv) and (17)(vi) of this section (below).
“(17) Possible reserves. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves.
“(i) When deterministic methods are used, the total quantities ultimately recovered from a project have a low probability of exceeding proved plus probable plus possible reserves. When probabilistic methods are used, there should be at least a 10% probability that the total quantities ultimately recovered will equal or exceed the proved plus probable plus possible reserves estimates.
“(ii) Possible reserves may be assigned to areas of a reservoir adjacent to probable reserves where data control and interpretations of available data are progressively less certain. Frequently, this will be in areas where geoscience and engineering data are unable to define clearly the area and vertical limits of commercial production from the reservoir by a defined project.
“(iii) Possible reserves also include incremental quantities associated with a greater percentage recovery of the hydrocarbons in place than the recovery quantities assumed for probable reserves.
“(iv) The proved plus probable and proved plus probable plus possible reserves estimates must be based on reasonable alternative technical and commercial interpretations within the reservoir or subject project that are clearly documented, including comparisons to results in successful similar projects.
“(v) Possible reserves may be assigned where geoscience and engineering data identify directly adjacent portions of a reservoir within the same accumulation that may be separated from proved areas by faults with displacement less than formation thickness or other geological discontinuities and that have not been penetrated by a wellbore, and the registrant believes that such adjacent portions are in communication with the known (proved) reservoir. Possible reserves may be assigned to areas that are structurally higher or lower than the proved area if these areas are in communication with the proved reservoir.
“(vi) Pursuant to paragraph (22)(iii) of this section (above), where direct observation has defined a highest known oil (HKO) elevation and the potential exists for an associated gas cap, proved oil reserves should be assigned in the structurally higher portions of the reservoir above the HKO only if the higher contact can be established with reasonable certainty through reliable technology. Portions of the reservoir that do not meet this reasonable certainty criterion may be assigned as probable and possible oil or gas based on reservoir fluid properties and pressure gradient interpretations.”
Instruction 4 of Item 2(b) of Securities and Exchange Commission Regulation S-K was revised January 1, 2010 to state that “a registrant engaged in oil and gas producing activities shall provide the information required by Subpart 1200 of Regulation S–K.” This is relevant in that Instruction 2 to paragraph (a)(2) states: “The registrant is permitted, but not required, to disclose probable or possible reserves pursuant to paragraphs (a)(2)(iv) through (a)(2)(vii) of this Item.”
“(26) Reserves. Reserves are estimated remaining quantities of oil and gas and related substances anticipated to be economically producible, as of a given date, by application of development projects to known accumulations. In addition, there must exist, or there must be a reasonable expectation that there will exist, the legal right to produce or a revenue interest in the production, installed means of delivering oil and gas or related substances to market, and all permits and financing required to implement the project.
“Note to paragraph (26): Reserves should not be assigned to adjacent reservoirs isolated by major, potentially sealing, faults until those reservoirs are penetrated and evaluated as economically producible. Reserves should not be assigned to areas that are clearly separated from a known accumulation by a non-productive reservoir (i.e., absence of reservoir, structurally low reservoir, or negative test results). Such areas may contain prospective resources (i.e., potentially recoverable resources from undiscovered accumulations).”
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