DALLAS,
Feb. 5,
2024 /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
$0.419460 per unit, payable on
February 29, 2024, to unit holders of
record on February 15, 2024. 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 November 2023 and the
gas production for October 2023,
which is considered current production. Preliminary production
volumes are approximately 56,969 barrels of oil and 1,346,113 Mcf
of gas. Preliminary prices are approximately $76.54 per barrel of oil and $2.28 per Mcf of gas.
This month's distribution is less than the
previous month's primarily due to a decrease in oil production,
along with lower prices for both oil and natural gas. These
decreases were partially offset by an increase in natural gas
production.
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)
|
|
Gas
(per Mcf)
|
|
|
|
|
|
|
|
|
|
|
Current
Month
|
|
56,969
|
|
1,346,113
|
|
$76.54
|
|
$2.28
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
58,697
|
|
1,015,516
|
|
$86.27
|
|
$2.30
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 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
January, approximately $619,084 of
revenue received will be posted in the following month of February,
in addition to normal cash receipts received during February. Since
the close of business in January and prior to this press release,
$455,454 in revenue has been
received.
Approximately $384,000 for 2024 Ad Valorem taxes was deducted
from this month's distribution as compared to $193,000 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/.
View original
content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-february-2024-302052936.html
SOURCE Sabine Royalty Trust