PermRock Royalty Trust will soon launch its initial public offering of 6,250,000 trust units, representing approximately 51.4% beneficial interest in the trust. The initial offering price is expected to be between $19.00 and $21.00 per unit. Boaz Energy II, LLC is the sponsor of the trust and will be selling the units being offered.
Additionally, Boaz intends to grant the underwriters a 30-day option to purchase up to an additional 937,500 trust units at the initial public offering price.
The trust units have been authorized for listing on the New York Stock Exchange under the ticker symbol “PRT.”
PermRock Royalty Trust logo (PRNewsfoto/PermRock Royalty Trust)
Boaz Energy II, LLC
Boaz Energy II, LLC is a Midland, Texas-based private oil and gas company with an operational focus in the Permian Basin of West Texas and New Mexico. Marshall J. Eves leads the company as CEO. Eves began his career at Pioneer Natural Resources in 2004 as a Permian operations engineer. In 2009 Marshall joined the team at Stanolind Oil and Gas LP where he served as an EVP focusing on the company’s A&D strategy until the company was sold in October 2013.
Eves co-founded Boaz Energy II, LLC in November 2013.
