8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 19, 2013

PERMIAN BASIN ROYALTY TRUST

(Exact name of Registrant as specified in its charter)

Texas	1-8033	75-6280532
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

Trust Division Royalty Trust Group U.S. Trust, Bank of America, Private Wealth Management 901 Main Street, 17th Floor Dallas, Texas	75202
(Address of principal executive offices)	(Zip Code)

Registrant’s Telephone Number, including area code: (214) 209-2400

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On July 19, 2013, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on July 31, 2013. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

This Report on Form 8-K is being furnished pursuant to Item 2.02, Results of Operations and Financial Condition. The information furnished is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated July 19, 2013.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

PERMIAN BASIN ROYALTY TRUST
By:	BANK OF AMERICA, N.A., TRUSTEE FOR PERMIAN BASIN ROYALTY TRUST
By:	/s/ RON E. HOOPER
	Ron E. Hooper
	Senior Vice President, Royalty Management

Date: July 22, 2013

EXHIBIT INDEX

Exhibit

Number	Description
99.1	Press Release dated July 19, 2013.

EX-99.1

Exhibit 99.1

Permian Basin Royalty Trust

PERMIAN BASIN ROYALTY TRUST

ANNOUNCES JULY CASH DISTRIBUTION

Permian Basin Royalty Trust

DALLAS, Texas, July 19, 2013 – Permian Basin Royalty Trust (NYSE: PBT) (“Permian”) today declared a cash distribution to the holders of its units of beneficial interest of $0.072057 per unit, payable on August 14, 2013, to unit holders of record on July 31, 2013.

This month’s distribution decreased from the previous month due to higher capital expenditures and operating expenses offset by increased production and higher prices of both oil and gas. Gas production to the trust continues to be affected by prior period adjustments being processed, however the production of the underlying properties is relatively flat month to month. Production for the Trust’s allocated portion of the Waddell Ranch and the Texas Royalty Properties combined for oil and gas respectively was 35,436 bbls and 57,803 Mcf. The average price for oil was $92.93 per bbl and for gas was $5.47 per Mcf. This would primarily reflect production for the month of May for oil and the month of April for gas. The worldwide market conditions continue to affect the pricing for domestic production. It is difficult to predict what effect these conditions will have on future distributions.

	Underlying Properties						Net to Trust Sales
	Volumes						Volumes						Average			Price
	Oil			Gas			Oil			Gas			Oil			Gas
		(per bbl	)		(per Mcf	)		(per bbl	)		(per Mcf	)		(per bbl	)		(per Mcf	)
Current Month		96,197			283,549			35,436	*		57,803	*	$	92.93		$	5.47	**
Prior Month		94,197			270,130			40,280	*		77,385	*	$	88.98		$	5.21	**

* These volumes are the net to the trust, after allocation of expenses to Trust’s net profit interest.

** This pricing includes sales of gas liquid products.

Approximately five 2013 workover wells were completed in the month of May. The remaining two horizontal wells were completed in April 2013. The 2012 waterflood project was also completed in April 2013. Capital expenditures were approximately $2,872,693. The numbers provided reflect what was net to the Trust. Due to the allocation method of paying for capital expenditures and lease operating expenses, the Trust’s net volumes are reduced in order to pay these expenditures.

The results of 2012 capital expenditure program on the Waddell Ranch Properties, along with the proposed 2013 budget, is discussed more thoroughly in the Trust’s 10-K filing, filed on March 1, and in the Annual Report that is now available on the trust website.

The Trustee continues to evaluate the claim of $4,542,547 overpayment that was recouped by ConocoPhillips back in September and October 2011. The accounting adjustments and subsequent reimbursements of this claim are currently being processed through the monthly distribution. As of June 2013, there has been minimal effect on the distributions.

Permian’s cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.pbt-permianbasintrust.com/

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Contact: Ron E. Hooper Senior Vice President U.S. Trust, Bank of America Private Wealth Management, Trustee Toll Free – 1.877.228.5085