DALLAS, April 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 $0.535500 per unit,
payable on April 29, 2024, to unit
holders of record on April 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
January 2024 and the gas production
for December 2023, which is
considered current production. Preliminary production volumes are
approximately 64,623 barrels of oil and 1,542,894 Mcf of gas.
Preliminary prices are approximately $81.94 per barrel of oil and $2.39 per Mcf of gas.
This month's distribution is greater than the previous month's
primarily due to an increase in oil and gas production. This was
offset somewhat by decreased oil and gas prices.
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The table below
compares this month's production and prices to the previous
month's:
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Net to Trust
Sales
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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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64,623
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1,542,894
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$81.94
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$2.39
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Prior 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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(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 March,
approximately $297,000 of revenue
received will be posted in the following month of April, in
addition to normal cash receipts received during April. Since the
close of business in March and prior to this press release,
approximately $983,000 in revenue has
been received.
Approximately $13,000 for 2024 Ad
Valorem taxes was deducted from this month's distribution. These
payments are normal expenditures at this time of year.
The 2023 Annual Report with Form 10-K and the January 1, 2024 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-april-2024-302109103.html
SOURCE Sabine Royalty Trust