DALLAS, March 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 $0.137450 per
unit, payable on March 29, 2017, to
unit holders of record on March 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
December 2016 and the gas production
for November 2016. Preliminary production volumes are
approximately 30,137 barrels of oil and 412,653 Mcf of gas.
Preliminary prices are approximately $47.86 per barrel of oil and $2.78 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
|
|
30,137
|
|
412,653
|
|
$47.86
|
|
$2.78
|
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
46,482
|
|
425,198
|
|
$45.72
|
|
$2.77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 February,
approximately $831,000 of revenue
received will be posted in the following month of March in addition
to normal receipts during March. Since the close of business
in February and prior to this press release, approximately
$316,000 in revenue has been
received.
The 2016 tax information packets were mailed directly to
unitholders on February 23,
2017. A copy of Sabine's
2016 tax information booklet has been posted on Sabine's website. In addition to the tax
booklet the Sabine website also
offers two simple calculators for computing the income and expense
amounts and the cost depletion. The calculators are updated with
the 2016 tax information.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-march-2017-300417320.html
SOURCE Sabine Royalty Trust