Fellow owners of PBT: Do not discount the advantages of holding PBT for the long term. I bot 400 shares in Sept. of 2004, using DRIP re-investment. I now have 607 shares worth slightly over $22 per share, and have received their generous 6% divvy all the while. I will continue to hold the units as long as they continue to pay their generous divvy.
No, it's always been there, just that the brokers never broke it out on the 1099. The fact that you've never heard of it implies you have never done your taxes correctly if you held PBT in previous years. Did you ever read the tax booklet? That told you how much royalty, interest, severance tax and admin expense to declare as well as depletion.