Permian Basin Royalty Trust

PBT

The Permian Basin is a large sedimentary basin in the southwestern part of the United States. The basin contains the Mid-Continent Oil Field province. This sedimentary basin is located in western Texas and southeastern New Mexico. It reaches from just south of Lubbock, past Midland and Odessa, south nearly to the Rio Grande River in southern West Central Texas, and extending westward into the southeastern part of New Mexico. It is so named because it has one of the world's thickest deposits of rocks from the Permian geologic period. The greater Permian Basin comprises several component basins; of these, the Midland Basin is the largest, Delaware Basin is the second largest, and Marfa Basin is the smallest. The Permian Basin covers more than 86,000 square miles (220,000 km2), and extends across an area approximately 250 miles (400 km) wide and 300 miles (480 km) long.The Permian Basin lends its name to a large oil and natural gas producing area, part of the Mid-Continent Oil Producing Area. Total production for that region up to the beginning of 1993 was over 14.9 billion barrels (2.37×109 m3). The Texas cities of Midland, Odessa and San Angelo serve as the headquarters for oil production activities in the basin. The Permian Basin is also a major source of potassium salts (potash), which are mined from bedded deposits of sylvite and langbeinite in the Salado Formation of Permian age.

Permian Basin Royalty Trust has been a target of short sellers for a while. The current short interest of 0.70% is roughly at the average of the last 12 months (0.41%).