PermRock Royalty Trust (PRT) said Monday that Boaz Energy II, which owns and operates the oil and gas properties underlying the trust, and its affiliate Boaz Energy II Royalty have signed a purchase and sale agreement with T2S Permian Acquisition II.

The deal involves Boaz Energy's sale of its stake in the underlying properties and approximately 4.9 million Trust units.

PermRock said the deal is expected to close in March.

Shares of PermRock Royalty Trust were up 1.3% in recent trading.

Price: 3.88, Change: +0.05, Percent Change: +1.31