DALLAS, May 3, 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 $0.597730 per unit, payable on May 29, 2024, to unit holders of record on
May 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
February 2024 and the gas production
for January 2024, which is considered
current production. Preliminary production volumes are
approximately 87,730 barrels of oil and 1,176,257 Mcf of gas.
Preliminary prices are approximately $76.02 per barrel of oil and $2.53 per Mcf of gas.
This month's distribution is greater than the previous month's
primarily due to an increase in oil production. This was offset
somewhat by a decrease in oil prices and an increase in gas
prices.
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
|
|
87,730
|
|
1,176,257
|
|
$76.02
|
|
$2.53
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
64,623
|
|
1,542,894
|
|
$81.94
|
|
$2.39
|
|
|
|
|
|
|
|
|
|
|
(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 April,
approximately $249,000 of revenue
received will be posted in the following month of May, in addition
to normal cash receipts received during May. Since the close of
business in April and prior to this press release, approximately
$1,075,000 in revenue has been
received.
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/.
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content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-may-2024-302135260.html
SOURCE Sabine Royalty Trust