DALLAS, Jan. 5, 2018 /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 $0.227020 per unit,
payable on January 30, 2018, to unit
holders of record on January 16,
2018. 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
October 2017 and the gas production
for September 2017. Preliminary production volumes are
approximately 53,181 barrels of oil and 500,292 Mcf of gas.
Preliminary prices are approximately $48.97 per barrel of oil and $2.84 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
|
|
53,181
|
|
500,292
|
|
$48.97
|
|
$2.84
|
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
56,394
|
|
550,580
|
|
$45.15
|
|
$2.79
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 December,
approximately $571,000 of revenue
received will be posted in the following month of January in
addition to normal receipts during January. Since the close
of business in December and prior to this press release,
approximately $1,663,000 in revenue
has been received.
Approximately $186,000 for 2017 Ad
Valorem taxes was deducted from this month's distribution as
compared to $145,000 this time last
year. These payments are normal expenditures at this time of
year.
The 2017 tax information packets are expected to begin mailing
directly to unitholders in early March 2018. A copy of
Sabine's 2017 tax information
booklet will be posted on Sabine's
website by March 1, 2018. 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 2017 tax information by February 19, 2018.
The January 1, 2017 Reserve
Summary has now been posted on the Sabine website at
http://www.sbr-sabine.com/.
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content:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-january-2018-300577888.html
SOURCE Sabine Royalty Trust