PermRock Royalty Trust, a trust formed by NGP's Boaz Energy to own Permian Basin royalty interests, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering of units of beneficial interest in the trust.
The Midland, TX-based company was formed in 2017 and booked $32 million in revenue for the 12 months ended December 31, 2017. It plans to list its trust units on the NYSE under the symbol PRT. PermRock Royalty Trust filed confidentially on December 14, 2017. Wells Fargo Securities, Goldman Sachs and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
