<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS OF
PERMIAN BASIN ROYALTY TRUST AS OF SEPTEMBER 30, 1998, AND THE RELATED CONDENSED
STATEMENTS OF DISTRIBUTABLE INCOME AND CHANGES IN TRUST CORPUS FOR THE
NINE-MONTH PERIOD ENDED SEPTEMBER 30, 1998.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                      $1,488,594
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            $1,488,594
<PP&E>                                     $10,975,216
<DEPRECIATION>                              $7,599,889
<TOTAL-ASSETS>                              $4,863,921
<CURRENT-LIABILITIES>                       $1,488,594
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                  $3,375,327
<TOTAL-LIABILITY-AND-EQUITY>                $4,863,921
<SALES>                                              0
<TOTAL-REVENUES>                            $9,278,722
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                              $323,892
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                             $8,954,830
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                         $8,954,830
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                $8,954,830
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0