SoftVest and Blackbeard Sign Definitive Agreement for $2.2 Billion Combination of Permian Basin Royalty Trust and US Land Guild
SoftVest, L.P. (“SoftVest”), a significant unitholder of the Permian Basin Royalty Trust (
NYSE: PBT) (“PBT” or “the Trust”), and Blackbeard Holdings, LLC (“Blackbeard”), today announced the execution of a definitive agreement (the “Combination Agreement”) to combine PBT and certain oil and natural gas mineral interests and land operations owned by Blackbeard and its affiliates (“US Land Guild” or “USLG”). The proposed combination is valued at approximately $2.24 billion.
