DALLAS, July 7, 2023
/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 $0.320470 per unit, payable on July 31, 2023, to unit holders of record on
July 17, 2023. 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/. Additionally,
printed reports can be requested and are mailed free of charge.
This distribution reflects primarily the oil production for
April 2023 and the gas production for
March 2023. Preliminary production
volumes are approximately 44,123 barrels of oil and 992,651 Mcf of
gas. Preliminary prices are approximately $76.22 per barrel of oil and $2.20 per Mcf of gas.
This month's distribution is lower than the previous month's
primarily due to decreased oil production and increased gas
production, relative to the timing of certain receipts through the
end of the month, offset by higher oil prices and lower gas
pricing.
The production from all the new horizontal gas wells in
Panola County, Texas, has
contributed approximately $409,000
reflecting March production including the recent new wells. All
volumes and pricing are included in the tables below.
Additionally, for the other three horizontal wells, also
in Panola County, there were two
months of receipts totaling $180,500
posted for this month's distribution.
As more regular monthly receipts are made in the months to come,
additional information will be made available.
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
|
|
44,123
|
|
992,651
|
|
$76.22
|
|
$2.20
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
56,892
|
|
776,402
|
|
$56.99
|
|
$2.89
|
|
|
|
|
|
|
|
|
|
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 June, approximately
$1,330,000 of revenue received will
be posted in the following month of July in addition to normal
receipts during July. Since the close of business in June and prior
to this press release, $566,000 in
revenue has been received.
The 2022 Annual Report with Form 10-K and the January 1, 2023 Reserve Summary are available on
the Sabine website at
http://www.sbr-sabine.com/.
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content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-july-2023-301871538.html
SOURCE Sabine Royalty Trust