DALLAS,
March 7,
2025 /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
$0.301230 per unit, payable on
March 31, 2025, to unit holders of
record on March 17, 2025. 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
December 2024 and the gas production
for November 2024, which is
considered current production. Preliminary production volumes are
approximately 45,827 barrels of oil and 1,044,259 Mcf of gas.
Preliminary prices are approximately $69.44 per barrel of oil and $1.86 per Mcf of gas.
This month's distribution is lower than the previous month's
primarily due to a decrease in oil and gas production, along with a
decrease in the price of oil and gas.
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
|
|
45,827
|
|
1,044,259
|
|
$69.44
|
|
$1.86
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
68,827
|
|
1,444,799
|
|
$69.88
|
|
$1.99
|
|
(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.
|
Receipt of Settlement Proceeds
The March distribution includes a $400,000 settlement payment received by Sabine
Royalty Trust ("Sabine"), pursuant to the Settlement Agreement
between Sabine and TGNR East Texas II, LLC (TGNR) dated
February 18, 2025. This settlement
payment relates to unpaid royalties on various TGNR operated wells
in Panola County, Texas. These
unpaid royalties were discovered during Sabine's ongoing revenue
audit.
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,
essentially all revenue received was posted. Since the close of
business in February and prior to this press release, approximately
$1,104,000 in revenue has been
received.
The 2024 Annual Report on Form 10-K has been filed with the
Securities and Exchange Commission, and the December 31, 2024, Reserve Summary is available
on the Sabine website at
http://www.sbr-sabine.com/.
Forward-looking Statements
Any statements in this press release about future events or
conditions, and other statements containing the words "estimates,"
"believes," "anticipates," "plans," "expects," "will," "may,"
"intends" and similar expressions, other than historical facts,
constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Factors or risks that could cause the Trust's actual
results to differ materially from the results the Trustee
anticipates include, but are not limited to the factors described
in Part I, Item 1A, "Risk Factors" of the Trust's Annual Report on
Form 10-K for the year ended December 31,
2024, and Part II, Item 1A, "Risk Factors" of subsequently
filed Quarterly Reports on Form 10-Q.
Actual results may differ materially from those indicated by
such forward-looking statements. In addition, the forward-looking
statements included in this press release represent the Trustee's
views as of the date hereof. The Trustee anticipates that
subsequent events and developments may cause its views to change.
However, while the Trustee may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Trustee's views as of any date subsequent to the
date hereof.
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content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-march-2025-302394917.html
SOURCE Sabine Royalty Trust
