Washington, D.C. 20549







Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 5, 2023




(Exact name of Registrant as specified in its charter)




Texas   1-8424   75-6297143

(State or other jurisdiction of

incorporation or organization)

File Number)
  (I.R.S. Employer
Identification No.)


Argent Trust Company

3838 Oak Lawn Ave

Suite 1720

Dallas, Texas

(Address of principal executive offices)     (Zip Code)

Registrant’s Telephone Number, including area code: (855) 588-7839

Not Applicable

(Former name or former address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class





Name of each exchange
on which registered

Units of Beneficial Interest   SBR   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐




Item 2.02.

Results of Operations and Financial Condition.

On December 5, 2023, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on December 15, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

This Report on Form 8-K is being furnished pursuant to Item 2.02, Results of Operations and Financial Condition. The information furnished is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.


Item 9.01.

Financial Statements and Exhibits.


d.    Exhibits
99.1    Press Release dated December 5, 2023.


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


  Nancy Willis
  Vice President

Date: December 5, 2023

Exhibit 99.1

Sabine Royalty Trust

News Release



Dallas, Texas, December 5, 2023 – 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 $1.143090 per unit, payable on December 29, 2023, to unit holders of record on December 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, which has recently been updated with a new look, 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 September 2023 and the gas production for August 2023. Preliminary production volumes are approximately 189,898 barrels of oil and 1,378,406 Mcf of gas. Preliminary prices are approximately $81.73 per barrel of oil and $2.60 per Mcf of gas.

This month’s distribution is higher than the previous month’s primarily due to an increase in oil and gas production. The increase in oil production includes first production through August 2023 production of approximately 103,000 barrels of oil (net to the trust) from fourteen new wells located in Martin County, Texas. This was partially offset by a decrease in oil and gas pricing.

The table below compares this month’s production and prices to the previous month’s:


     Net to Trust Sales
Volumes (a)
     Average Price (a)  
     Oil (bbls)      Gas (Mcf)      Oil
(per bbl)
(per Mcf)

Current Month

     189,898        1,378,406      $ 81.73      $ 2.60  

Prior Month

     70,052        840,907      $ 104.09      $ 5.88  



Sales volumes are recorded in the month the Trust receives and identifies the related royalty income. Because of this, sales volumes and pricing may fluctuate from month to month based on the timing of cash receipts.

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 November, approximately $449,295 of revenue received will be posted in the following month of December, in addition to normal receipts during December. Since the close of business in November and prior to this press release, $111,734 in revenue has been received. At the beginning of the fourth quarter, Sabine Royalty Trust engaged a new revenue processor.

Approximately $990,000 for 2023 Ad Valorem taxes was deducted from this month’s distribution as compared to $684,000 this time last year. These payments are normal expenditures at this time of year.

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/.

*        *         *



   Nancy Willis—VP, Royalty Trust Services   
   Argent Trust Company   
   Toll Free (855) 588-7839   

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