8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 21, 2020

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PermRock Royalty Trust

(Exact name of registrant as specified in the

Amended and Restated PermRock Royalty Trust Agreement)

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Delaware	001-38472	82-6725102
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation or organization)	File Number)	Identification Number)

Simmons Bank, TrusteeP.O. Box 470727Fort Worth, Texas 76147

(Address of principal executive offices) (Zip Code)

(855) 588-7839

(Registrant’s telephone number, including area code)

N/A

(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:

¨ 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 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 Symbol(s)	Name of Each Exchange on Which Registered
Units of Beneficial Interest	PRT	New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None

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  þ

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 2.02

Results of Operations and Financial Condition.

On August 21, 2020, PermRock Royalty Trust (the “Trust”) issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing, among other things, that there would be no distribution to record holders of its trust units representing beneficial interests in the Trust (“Trust Units”) as of August 31, 2020, based principally upon production during the month of June 2020.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall be deemed “furnished” and not “filed” with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.	Description
99.1	Press Release dated August 21, 2020.

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 hereunto duly authorized.

PERMROCK ROYALTY TRUST<br><br><br>By: Simmons Bank, as Trustee
By:	/s/ Lee Ann Anderson
	Lee Ann Anderson
	Senior Vice President

Date:  August 21, 2020

(The Trust has no directors or executive officers.)

Press Release

Exhibit 99.1

PermRock Royalty Trust

News Release

PermRock Royalty Trust

Declares No Monthly Cash Distribution for August

FORT WORTH, Texas, August 21, 2020 – PermRock Royalty Trust (NYSE:PRT) (the “Trust”) today declared there will be no monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust (“Trust Units”) as of August 31, 2020. The net profits calculation was based principally upon production during the month of June 2020 and includes $45,428 in net profits income to be distributed to the Trust, which amount will be used to cover Trust administrative expenses.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

	Underlying Sales Volumes								Average Price
	Oil				Natural Gas				Oil		Natural Gas
	Bbls		Bbls/D		Mcf		Mcf/D		(per Bbl)		(per Mcf)
Current Month		38,850		1,295		37,935		1,265	$	35.75	$	1.64
Prior Month		17,201		555		51,084		1,648	$	16.28	$	0.93

Oil cash receipts for the properties underlying the Trust totaled $1.39 million for the current month, an increase of $1.11 million from the prior month distribution period due to increased production and oil prices in June 2020. Boaz Energy reported that normal production operations resumed in early June 2020 following the shut in of a material amount of production from the properties underlying the Trust during portions of May 2020 due to oil price uncertainties.

Natural gas cash receipts for the properties underlying the Trust totaled $0.06 million for the current month, an increase of $0.01 million from the prior month’s distribution period due to an increase in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.64 million reflecting a $0.29 million increase from the prior month. Severance and ad valorem taxes were $0.18 million.

Capital expenditures were $0.05 million in the current month reflecting a $0.02 million increase from the prior month. Boaz Energy reported these expenditures primarily related to drilling and completion operations on non-operated properties in Crane County. Boaz Energy informed the Trust that this month’s net profits calculation included $320,960 net to the Trust of funds reserved by Boaz Energy to cover capital obligations and expenses. Boaz Energy indicated $140,606 of those funds were applied as recoupment of the $140,606 advancement Boaz Energy made to the Trust in July 2020, while the remaining $180,354 was reserved by Boaz Energy to cover Boaz Energy’s future capital obligations and expenses.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC (“Boaz Energy”) to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements.” These forward-looking statements represent the Trust’s and Boaz Energy’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and Boaz Energy’s operations with regard to producing leases, anticipated drilling and completion activities and the resulting impact on the computation of the Trust’s net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Further, continued low oil and natural gas prices may continue to result in no distributions to unitholders for an unknown period of time. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust’s filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.

Contact:	PermRock Royalty Trust
	Simmons Bank, Trustee
	Lee Ann Anderson, Senior Vice President
	Toll-free: (855) 588-7839
	Fax: (817) 298-5579
	Website:  www.permrock.com
	e-mail:  trustee@permrock.com