DALLAS, March 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
$0.411450 per unit, payable on
March 28, 2024, to unit holders of
record on March 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
December 2023 and the gas production
for November 2023, which is
considered current production. Preliminary production volumes are
approximately 48,104 barrels of oil and 1,046,545 Mcf of gas.
Preliminary prices are approximately $89.38 per barrel of oil and $2.45 per Mcf of gas.
This month's distribution is less than the previous month's
primarily due to a decrease in oil production. This was offset
slightly by increased oil and gas prices.
The table below compares this month's production and prices to
the previous month's:
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Net to Trust Sales
Volumes (a)
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Average Price
(a)
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Oil (bbls)
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Gas (Mcf)
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Oil
(per bbl)
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Gas
(per Mcf)
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Current
Month
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48,104
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1,046,545
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$89.38
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$2.45
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|
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Prior Month
|
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56,969
|
|
1,346,113
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$76.54
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$2.28
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(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 February,
approximately $488,700 of revenue
received will be posted in the following month of March, in
addition to normal cash receipts received during March. Since the
close of business in February and prior to this press release,
$5,600 in revenue has been
received.
Approximately $2,800 for 2024 Ad
Valorem taxes was deducted from this month's distribution. 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/.
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content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-march-2024-302079501.html
SOURCE Sabine Royalty Trust