SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR SEPTEMBER 2023
DALLAS, Sept. 5, 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 $0.364300 per unit, payable on September 29, 2023, to unit holders of record on September 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 June 2023 and the gas production for May 2023. Preliminary production volumes are approximately 55,152 barrels of oil and 1,095,508 Mcf of gas. Preliminary prices are approximately $74.58 per barrel of oil and $1.89 per Mcf of gas.
This month's distribution is higher than the previous month's primarily due to increased oil and gas pricing and also by 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 | Gas | |||||||
Current Month | 55,152 | 1,095,508 | $74.58 | $1.89 | ||||||
Prior Month | 44,365 | 1,120,435 | $70.80 | $1.68 | ||||||
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 August, approximately $751,296 of revenue received will be posted in the following month of September in addition to normal receipts during September. Since the close of business in August and prior to this press release, $771,270 in revenue has been received.
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/.
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SOURCE Sabine Royalty Trust
