Sabine Royalty Trust Announces Monthly Cash Distribution For August 2021

Rhea-AI Summary

On August 6, 2021, Simmons Bank, Trustee of the Sabine Royalty Trust (NYSE: SBR), announced a cash distribution of $0.318130 per unit for August 2021, payable on August 30. This distribution is based on oil production from April 2021 and gas production from March 2021, with preliminary volumes reported at 53,612 barrels of oil and 785,545 Mcf of gas. The average prices were $62.89 per barrel of oil and $2.54 per Mcf of gas. Despite delayed revenue posting due to industry disruptions in July, adjustments are being made to ensure operations continue smoothly.

Positive

• Monthly cash distribution of $0.318130 per unit reflects stable production.
• Preliminary production volumes increased for oil and gas compared to prior month.
• Oil prices rose to $62.89 per barrel, indicating potential revenue stability.

Negative

• Delayed revenue posting of approximately $1,854,000 affects cash flow.
• Operational delays due to shelter-at-home orders may hinder timely revenue adjustments.

DALLAS, Aug. 6, 2021 /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 $0.318130 per unit, payable on August 30, 2021, to unit holders of record on August 16, 2021.  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 2021 and the gas production for March 2021.  Preliminary production volumes are approximately 53,612 barrels of oil and 785,545 Mcf of gas.  Preliminary prices are approximately $62.89 per barrel of oil and $2.54 per Mcf of gas.

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		53,612			785,545			$62.89		$2.54
Prior Month		52,988			637,149			$56.35		$2.95

Revenues are only distributed after they are received, verified and posted.  Most energy companies normally issue payment of royalties on or about the 25^th 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.

During the month of July, the respective shelter-at-home/work-from-home orders across the spectrum of the industry has significantly affected the posting of revenues for the Trust, until the following month of August.  As adjustments are made accordingly, the functions of the Trust are still being performed, although on a delayed basis.  We will continue to strive to make the operations of the Trust and its providers, as fluid as possible.

Due to the timing of the end of the month of July, approximately $1,854,000 of revenue received will be posted in the following month of August in addition to normal receipts during August.  Since the close of business in July and prior to this press release, $1,462,000.00 in revenue has been received.

The 2020 Annual Report with Form 10-K and the January 1, 2021 Reserve Summary are now available on the Sabine website at http://www.sbr-sabine.com/. 

 

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SOURCE Sabine Royalty Trust

FAQ

What is the cash distribution amount declared by Sabine Royalty Trust for August 2021?

The cash distribution amount is $0.318130 per unit.

When will the cash distribution for SBR be paid?

The cash distribution will be paid on August 30, 2021.

What are the preliminary oil and gas production figures for Sabine Royalty Trust?

Preliminary production figures are 53,612 barrels of oil and 785,545 Mcf of gas.

What are the average prices for oil and gas for April and March 2021?

The average price for oil was $62.89 per barrel, and for gas, it was $2.54 per Mcf.

Why are there delays in revenue posting for Sabine Royalty Trust?

Delays in revenue posting are due to operational impacts from industry-wide shelter-at-home orders.