DALLAS, July 5, 2022
/PRNewswire/ -- Simmons Bank, as
Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a
cash distribution to the holders of its units of beneficial
interest of $0.549990 per unit,
payable on July 29, 2022, to unit
holders of record on July 15,
2022. 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
April 2022 and the gas production for
March 2022. Preliminary production volumes are approximately
40,082 barrels of oil and 1,024,821 Mcf of gas. Preliminary
prices are approximately $105.12 per
barrel of oil and $4.57 per Mcf of
gas.
This month's distribution is lower than the previous month's due
to decreased production of oil and gas, primarily due to the timing
of receipts through the end of the month.
The production from the new horizontal gas wells in Panola County, Texas, has contributed
approximately $880,000 reflecting
March production. They were averaging about 752 Mcf per day per
well during March totaling over 186,000 Mcf with an average pricing
of $4.41 per Mcf. In addition to
these proceeds, the additional 8 new wells which were paid upon for
the month of March, contributing approximately $200,000, reflecting an average of 215 Mcf per
well, per day.
Additionally, another 3 new horizontal wells, also in
Panola County, are being paid on
by another operator for the month of production for April 2022, however, the funds were not received
in time for this distribution.
As more regular monthly receipts are made in the months to come,
additional information will be made available.
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
|
|
40,082
|
|
1,024,821
|
|
$105.12
|
|
$4.57
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
64,786
|
|
1,037,379
|
|
$94.63
|
|
$5.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 June, approximately
$900,762 of revenue received will be
posted in the following month of July in addition to normal
receipts during July.
The 2021 Annual Report with Form 10-K and the January 1, 2022 Reserve Summary has been posted
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-july-2022-301580551.html
SOURCE Sabine Royalty Trust