Latest news with #T2S
Yahoo
19-05-2025
- Business
- Yahoo
PermRock Royalty Trust Declares Monthly Cash Distribution
DALLAS, May 19, 2025 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of May 30, 2025, and payable on June 13, 2025, in the amount of $371,192.79 ($0.030511 per Trust Unit), based principally upon production during the month of March 2025. The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:Underlying Sales Volumes Average PriceOil Natural Gas Oil Natural GasBbls Bbls/D Mcf Mcf/D (per Bbl) (per Mcf) Current Month 22,232 717 24,848 802 $66.92 $3.19 Prior Month 21,413 765 25,759 920 $70.27 $4.15 Oil cash receipts for the properties underlying the Trust totaled $1.49 million for the current month, a decrease of $0.01 million from the prior month's distribution period. This decrease was primarily due to a decrease in oil sales prices. Natural gas cash receipts for the properties underlying the Trust totaled $0.08 million for the current month, a decrease of $0.03 million from the prior month's distribution period. This decrease was primarily due to a decrease in natural gas sales volumes and prices. Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.60 million, a decrease of $0.06 million from the prior month's distribution period. Severance and ad valorem taxes included in this month's net profits calculation were $0.14 million. Capital expenses were $0.01 million, a decrease of $0.04 million from the prior month's distribution period. About PermRock Royalty Trust PermRock Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned and operated by T2S Permian Acquisition II LLC ("T2S") in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and T2S's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and statements regarding T2S's operations and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by volatility in commodity prices and oversupply. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the SEC on March 31, 2025, and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at Contact: PermRock Royalty TrustArgent Trust Company, TrusteeJana Egeler, Vice President, Trust AdministratorToll-free: (855) 588-7839Fax: (214) 559-7010Website: e-mail: trustee@ View original content: SOURCE PermRock Royalty Trust Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-02-2025
- Business
- Yahoo
ECB fixes outage in multi-trillion-euro payment system
By Sinead Cruise, Amanda Cooper and Francesco Canepa LONDON/FRANKFURT (Reuters) - The European Central Bank said late on Thursday it had fixed an unprecedented outage in its payment system which had left transactions likely worth trillions of euros from companies, consumers and investors up in the air for most of the day. The malfunction of the Target 2 system, used to settle more than 3 trillion euros ($3.12 trillion) of daily payments and financial trades, meant transactions between banks could not go through. While the interruption had not been felt by regular bank customers, it had put a question mark on the transactions between lenders that are completed at the end of the day and underpin the very functioning of the euro zone's economy. The event caused disruptions during U.S. trading hours, according to a source at one U.S. lender. There are still expectations that the backlog could be cleared during the extended settlement hours which could make the overall impact muted, the source added. Another U.S. bank said it was processing backlogs without issue after the ECB restarted the system. After a hiatus that lasted roughly seven hours, the ECB said around 1800 GMT that Target 2 (T2) was functioning normally although all the deadlines to settle the day's payment flows had been postponed by several hours. "The previous incident has been resolved and T2 has resumed normal operations," the ECB said in a status update on its website. In a statement to Reuters earlier, the ECB said the unprecedented issue had been caused by a "hardware defect" and there was no "malicious (or) foul play". Banks, which depend on the system to settle their accounts with one another, had been instructed to keep placing their payments in the queue throughout the day as they waited for the outage to be fixed. An emergency channel had remained open for "very critical payments", the ECB said. The pan-European TARGET 2 Securities (T2S) platform, which is used to complete trades in cash and securities across 24 depositories such as Euroclear, was also back online after being affected by a glitch in its communication channels. "T2S is operating normally and the previous incident... was resolved," the ECB said. The cut-off time for Thursday's trade had been pushed back by six hours to 2100 GMT. Trading sources said communications had been disrupted and the status of trades since the outage was reported remained unclear. The problem affected critical communications between central securities depositories (CSDs), the basic plumbing of financial markets. Market participants usually communicate with T2S via their CSD or central bank. Michael Thomas, a partner at Hogan Lovells' financial services team and market structure expert, said the episode could have a wide variety of consequences. "Where there are chains of transactions, where each leg is dependent on settlement of each other leg, a break in the chain can affect the whole series of transactions," he said. "The longer the delay, the greater the impact on liquidity in the financial system, where cash cannot be realised because securities transactions are not able to settle, meaning that cash is not available for other purposes," he said. According to the ECB's website, any issues with the T2S system in the past couple of years have typically been resolved quickly. Thursday's outage was reported at 0730 GMT and was only resolved at around 1700 GMT. European stock, currency and bond markets appeared to have traded normally, according to LSEG data. Settlement on trades takes two working days, which might mean disruption may not show up until early next week. Central counterparties, or clearing houses, ensure that a stock, bond or derivatives transaction is completed. The final leg of a trade, known as settlement, is conducted by the CSDs. One CSD, Clearstream, said on its website that settlement of euro securities would be delayed. Others including Euroclear did not immediately respond to a request for comment from Reuters. A person familiar with the matter said some Euroclear clients might see delays in the processing of their transactions. ($1 = 0.9607 euros) (Additional reporting by Lucy Raitano and Samuel Indyk in London and Lefteris Papadimas in Athens and Nupur Anand in New York; Writing by John O'Donnell; Editing by Harry Robertson, Philippa Fletcher, Nia Williams and Daniel Wallis) Sign in to access your portfolio
Bloomberg
27-02-2025
- Business
- Bloomberg
ECB's €790 Billion Trade Settlement System Operational Again
The European Central Bank's securities settlement system is working again after a communications shutdown earlier on Thursday due to a hardware failure. The TARGET2-Securities, or T2S, platform is 'operating normally and the previous incident impacting Application-to-Application outbound and inbound communication due to a hardware component was resolved,' the ECB said in a statement.
Khaleej Times
27-02-2025
- Business
- Khaleej Times
ECB's $1.9 trillion-a-day trade system suffers outage
The European Central Bank said on Thursday its system that handles $1.9 trillion a day in transactions across the region was suffering an outage, leaving banks and companies scrambling to figure out the potential impact. The Bank of Greece, one of the 24 central banks that uses the system, said the outage meant interbank fund transfers were "not currently possible". The ECB said an emergency channel was still open for "very critical payments". The pan-European TARGET 2 Securities (T2S) platform, which is used to complete trades in cash and securities across the 24 countries that share the euro, along with the central banks and the ECB itself, reported a glitch in its communication channels, but did not offer more specifics. Trading sources said communications had been disrupted and the status of trades since the outage was reported remained unclear. The problem affected critical communications between central securities depositories (CSDs), the basic plumbing of financial markets. Market participants usually communicate with T2S via their CSD or central bank. Michael Thomas, a partner at Hogan Lovells' financial services team and market structure expert, said the incapacity of the settlement system could have a wide variety of potential consequences. "Where there are chains of transactions, where each leg is dependent on settlement of each other leg, a break in the chain can affect the whole series of transactions," he said. "The longer the delay, the greater the impact on liquidity in the financial system, where cash cannot be realised because securities transactions are not able to settle, meaning that cash is not available for other purposes," he said. According to the ECB's website, any issues with the T2S system in the past couple of years have typically been resolved relatively quickly. Thursday's outage was reported at 0730 GMT and was still continuing by 1540 GMT. "The Eurosystem is taking all measures necessary to resolve the incident as soon as possible," the ECB said, promising a further update at 1600 GMT. European stock, currency and bond markets appeared to be trading normally, according to LSEG data. Settlement on trades takes two working days, which might mean disruption may not show up until early next week. One London-based trader said their team had little precedent for such an outage, with the ECB under extreme pressure to restore operations before the 1600 GMT cut-off. Central counterparties, or clearing houses, ensure that a stock, bond or derivatives transaction is completed. The final leg of a trade, known as settlement, is conducted by the CSDs. One CSD, Clearstream, said on its website that settlement of euro securities would be delayed, Others including Euroclear did not immediately respond to a request for comment from Reuters. A person familiar with the matter said some Euroclear clients might see delays in the processing of their transactions.
Reuters
27-02-2025
- Business
- Reuters
ECB takes down securities settlement system's interfaces after incident
FRANKFURT, Feb 27 (Reuters) - The European Central Bank has taken down some interfaces of its securities settlement system as it works to resolve an ongoing glitch that disrupted communications within that network, known as Target 2 Securities (T2S). "As a result of the incident resolution activities also the T2S and Common Component Graphical User Interfaces (GUIs) are unavailable at the moment," the ECB said in a status update.
