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PERMIAN BASIN ROYALTY TRUST DECLARES CASH DISTRIBUTION

 PERMIAN BASIN ROYALTY TRUST DECLARES CASH DISTRIBUTION
 FORT WORTH, Texas, Jan. 21 /PRNewswire/ -- NationsBank of Texas,


N.A., Fort Worth, Texas, trustee of the Permian Basin Royalty Trust, today declared a cash distribution to the holders of its units of beneficial interest of $0.029221 per unit payable on Feb. 14, 1992, to unit holders of record on Jan. 31, 1992.
 As has been previously reported, Southland Royalty Company (Southland) has advised the trust that it became operator of record of the Waddell Ranch properties on May 1, 1991, the effective date of the resignation of Chevron USA, Inc. (Chevron) as operator. All field, technical and accounting operations, however, have been carried out by Coastal Management Corporation ("Coastal"), but remain under the direction of Southland. Southland is continuing to negotiate with the non-operating working interest owners concerning an operating agreement. Certain of the production facilities on the Waddell Ranch properties were owned by Chevron and used by the working interest owners. Negotiations between Chevron and the Waddell Ranch properties working interest owners concerning the continued use of production facilities have been ongoing for some time. Southland has now advised the Trust that such negotiations have been completed and an agreement between Chevron and the working interest owners has been executed. As a result of the agreement reached with Chevron, Southland has included as a capital expenditure in the calculation of distributable income for the current month a charge of $594,000 attributable to the purchase of those production facilities from Chevron. The trustee has been informed by Southland that Southland anticipates no further material charges in connection with the change of operators.
 -0- 1/21/92
 /CONTACT: Pamela J. Bradley, assistant vice president and trust officer of NationsBank of Texas, 817-390-6714/
 (PBT) CO: Permian Basin Royalty Trust ST: Texas IN: OIL SU: DIV


KD -- NY132 -- 2121 01/21/92 17:34 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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/C O R R E C T I O N -- PERMIAN BASIN ROYALTY TRUST/
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PERMIAN BASIN ROYALTY TRUST DECLARES CASH DISTRIBUTION

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