DALLAS, Nov. 3, 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 $0.720840 per unit, payable on November 29, 2023, to unit holders of record on
November 15, 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
August 2023 and the gas production
for July 2023. Preliminary production
volumes are approximately 70,052 barrels of oil and 840,907 Mcf of
gas. Preliminary prices are approximately $104.09 per barrel of oil and $5.88 per Mcf of gas.
This month's distribution is higher than the previous month's
primarily due to an increase in oil and gas pricing and an increase
in oil production.
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
|
|
70,052
|
|
840,907
|
|
$104.09
|
|
$5.88
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
38,263
|
|
888,113
|
|
$73.41
|
|
$2.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 October,
approximately $10,484,301 of revenue
received will be posted in the following month of November, in
addition to normal receipts during November. Since the close of
business in October and prior to this press release, $2,225,319 in revenue has been received.
Approximately $850,630 for 2023 Ad
Valorem taxes was deducted from this month's distribution as
compared to $755,000 this time last
year. These payments are normal expenditures at this time of
year.
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-november-2023-301976794.html
SOURCE Sabine Royalty Trust