DALLAS, Sept. 5,
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
$0.364300 per unit, payable on
September 29, 2023, to unit holders
of record on September 15, 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
June 2023 and the gas production for
May 2023. Preliminary production
volumes are approximately 55,152 barrels of oil and 1,095,508 Mcf
of gas. Preliminary prices are approximately $74.58 per barrel of oil and $1.89 per Mcf of gas.
This month's distribution is higher than the previous month's
primarily due to increased oil and gas pricing and also by an
increase in oil production.
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
|
|
55,152
|
|
1,095,508
|
|
$74.58
|
|
$1.89
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
44,365
|
|
1,120,435
|
|
$70.80
|
|
$1.68
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 August,
approximately $751,296 of revenue
received will be posted in the following month of September in
addition to normal receipts during September. Since the close of
business in August and prior to this press release, $771,270 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/.
View original
content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-september-2023-301916513.html
SOURCE Sabine Royalty Trust