DALLAS, Feb. 3, 2017 /PRNewswire/ -- Southwest Bank,
as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared
a cash distribution to the holders of its units of beneficial
interest of $0.192930 per unit,
payable on February 28, 2017, to unit
holders of record on February 15,
2017. 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 at http://www.sbr-sabine.com/.
This distribution reflects primarily the oil production for
November 2016 and the gas production
for October 2016. Preliminary production volumes are
approximately 46,482 barrels of oil and 425,198 Mcf of gas.
Preliminary prices are approximately $45.72 per barrel of oil and $2.77 per Mcf of gas.
The table below compares this month's production and prices to
the previous month's:
|
|
Net to Trust
Sales
|
|
|
|
|
Volumes
|
|
Average
Price
|
|
|
Oil (bbls)
|
|
Gas (Mcf)
|
|
Oil
(per bbl)
|
|
Gas
(per Mcf)
|
|
|
|
|
|
|
|
|
|
|
Current
Month
|
|
46,482
|
|
425,198
|
|
$45.72
|
|
$2.77
|
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
46,508
|
|
580,356
|
|
$47.71
|
|
$2.80
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues are only posted and distributed when they are
received. 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 January,
approximately $1,054,000 of revenue
received will be posted in the following month of February in
addition to normal receipts during February. Since the close
of business in January and prior to this press release,
approximately $329,000 in revenue has
been received.
Approximately $64,000 for 2016 Ad
Valorem taxes was deducted from this month's distribution as
compared to no tax payment this time last year. These
payments are normal expenditures at this time of year.
The 2016 tax information packets are expected to begin mailing
directly to unitholders in early March 2017. A copy of
Sabine's 2016 tax information
booklet will be posted on Sabine's
website by March 1, 2017. In
addition to the tax booklet the Sabine website will also offer two simple
calculators for computing the income and expense amounts and the
cost depletion. The calculators are currently expected to be
updated with the 2016 tax information by February 15, 2017.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-february-2017-300401593.html
SOURCE Sabine Royalty Trust