DALLAS, Nov. 5, 2021
/PRNewswire/ -- Simmons 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 $0.375160 per unit, payable on November 29, 2021, to unit holders of record on
November 15, 2021. 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
July 2021 and the gas production for
June 2021. Preliminary production volumes are approximately
51,158 barrels of oil and 962,512 Mcf of gas. Preliminary
prices are approximately $66.56 per
barrel of oil and $3.29 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
|
|
51,158
|
|
962,512
|
|
$66.56
|
|
$3.29
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
49,820
|
|
777,419
|
|
$69.96
|
|
$2.94
|
|
|
|
|
|
|
|
|
|
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.
During the month of October, the respective
shelter-at-home/work-from-home orders across the spectrum of the
industry has significantly affected the posting of revenues for the
Trust, until the following month of November. As adjustments
are made accordingly, the functions of the Trust are still being
performed, although on a delayed basis. We will continue to
strive to make the operations of the Trust and its providers, as
fluid as possible.
Due to the timing of the end of the month of October,
approximately $1,343,000 of revenue
received will be posted in the following month of November in
addition to normal receipts during November. Since the close
of business in October and prior to this press release,
$2,057,000 in revenue has been
received.
Approximately $165,000 for 2021 Ad
Valorem taxes was deducted from this month's distribution as
compared to $538,000 this time last
year. These payments are normal expenditures at this time of
year.
The 2020 Annual Report with Form 10-K and the January 1, 2021 Reserve Summary are now 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-november-2021-301417514.html
SOURCE Sabine Royalty Trust