DALLAS, Aug. 5, 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 $0.450890 per unit, payable on August 29, 2024, to unit holders of record on
August 15, 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
May 2024 and the gas production for
April 2024, which is considered
current production. Preliminary production volumes are
approximately 76,461 barrels of oil and 1,346,957 Mcf of gas.
Preliminary prices are approximately $77.48 per barrel of oil and $1.20 per Mcf of gas.
This month's distribution is greater than the previous month's
primarily due to an increase in oil production, partially offset by
a decrease in the price of both oil and natural gas and a decrease
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
|
|
76,461
|
|
1,346,957
|
|
$77.48
|
|
$1.20
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
55,484
|
|
1,414,577
|
|
$82.07
|
|
$1.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 July, approximately
$212,000 of revenue received will be
posted in the following month of August, in addition to normal cash
receipts received during August. Since the close of business in
July and prior to this press release, approximately $264,000 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/.
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SOURCE Sabine Royalty Trust