DALLAS, Sept. 6,
2024 /PRNewswire/ -- Argent Trust Company, as Trustee
of the Sabine Royalty Trust (NYSE: SBR), today declared a cash
distribution to the holders of its units of beneficial interest of
$0.421310 per unit, payable on
September 30, 2024, to unit holders
of record on September 16, 2024.
Sabine's cash distribution history, current and prior year
financial reports and tax information booklets, a link to filings
made with the Securities and Exchange Commission and more can be
found on its website, which has recently been updated with a new
look, at http://www.sbr-sabine.com/. Additionally,
printed reports can be requested and are mailed free of charge.
This distribution reflects primarily the oil production for
June 2024 and the gas production for
May 2024, which is considered current
production. Preliminary production volumes are approximately 64,743
barrels of oil and 1,359,603 Mcf of gas. Preliminary prices are
approximately $78.14 per barrel of
oil and $1.52 per Mcf of gas.
This month's distribution is lower than the previous month's
primarily due to a decrease in oil production, partially offset by
an increase in the price of both oil and natural gas and an
increase in natural gas production.
The table below compares this month's production
and prices to the previous month's:
|
|
Net to Trust
Sales
|
|
|
|
|
Volumes
(a)
|
|
Average Price
(a)
|
|
|
Oil (bbls)
|
|
Gas (Mcf)
|
|
Oil
(per bbl)
|
|
Gas
(per Mcf)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
Month
|
|
64,743
|
|
1,359,603
|
|
$78.14
|
|
$1.52
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
76,461
|
|
1,346,957
|
|
$77.48
|
|
$1.20
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Sales volumes are
recorded in the month the Trust receives and identifies the related
royalty income. Because of this, sales volumes and pricing may
fluctuate from month to month based on the timing of cash
receipts.
|
Revenues are only distributed after they are received, verified,
and posted. Most energy companies normally issue payment of
royalties on or about the 25th of every month, and
depending on mail delivery, a varying amount of royalties are not
received until after the revenue posting on the last business day
of the month. The revenues received after that date will be posted
within 30 days of receipt.
Due to the timing of the end of the month of August,
approximately $89,000 of revenue
received will be posted in the following month of September, in
addition to normal cash receipts received during September. Since
the close of business in August and prior to this press release,
approximately $302,000 in revenue has
been received.
The 2023 Annual Report with Form 10-K and the January 1, 2024 Reserve Summary are available on
the Sabine website at
http://www.sbr-sabine.com/.
View original
content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-september-2024-302239857.html
SOURCE Sabine Royalty Trust