Argent Trust Pursues Over $9 Million in Damages Against Blackbeard Operating in Texas Royalty Dispute
DALLAS, Texas — Argent Trust Company, acting as Trustee of the Permian Basin Royalty Trust, has submitted a second amended petition in a Tarrant County court as part of its ongoing lawsuit against Blackbeard Operating LLC. The legal dispute centers around oil and gas properties in Crane County, Texas, where the Trust claims ownership of a 75% net overriding royalty. The new petition seeks to recover more than $9 million, alleging that Blackbeard improperly calculated and withheld royalty payments owed to the Trust. Specific claims include inappropriate deductions for overhead costs, labor expenses, and saltwater … Read more