DALLAS, Oct. 6, 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 $0.278690 per unit, payable on October 30, 2023, to unit holders of record on
October 16, 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
July 2023 and the gas production for
June 2023. Preliminary production
volumes are approximately 38,263 barrels of oil and 888,113 Mcf of
gas. Preliminary prices are approximately $73.41 per barrel of oil and $2.29 per Mcf of gas.
This month's distribution is lower than the previous month's
primarily due to decreased oil prices as well as lower production
in both oil and gas, partially offset by higher gas prices.
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
|
|
38,263
|
|
|
888,113
|
|
|
|
$73.41
|
|
|
$2.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
55,152
|
|
|
1,095,508
|
|
|
|
$74.58
|
|
|
$1.89
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 $3,200,865 of revenue
received will be posted in the following month of October, in
addition to normal receipts during October. Since the close of
business in September and prior to this press release, $3,444,535 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-october-2023-301948795.html
SOURCE Sabine Royalty Trust