SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR JULY 2024

Rhea-AI Summary

Sabine Royalty Trust (NYSE: SBR) announced a monthly cash distribution for July 2024. Unit holders of record as of July 15, 2024, will receive $0.379040 per unit on July 29, 2024. This distribution, reflecting April 2024 oil production and March 2024 gas production, marks a decrease from the previous month due to lower oil output and reduced natural gas prices. Preliminary production volumes are reported at approximately 55,484 barrels of oil and 1,414,577 Mcf of gas, with prices at $82.07 per barrel of oil and $1.29 per Mcf of gas. The reduction in distribution is partially offset by higher oil prices and increased gas production. Further details, including financial reports and tax information, are available on Sabine's updated website.

Positive

• Distribution of $0.379040 per unit to be paid on July 29, 2024.
• Preliminary production volumes of 55,484 barrels of oil and 1,414,577 Mcf of gas.
• Increased oil price to $82.07 per barrel from the previous month's $81.23.
• Increased gas production from 1,359,458 Mcf to 1,414,577 Mcf.

Negative

• This month's distribution is lower than the previous month's.
• Decreased oil production from 75,929 barrels to 55,484 barrels.
• Decreased natural gas price from $2.13 per Mcf to $1.29 per Mcf.

DALLAS, July 5, 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 $0.379040 per unit, payable on July 29, 2024, to unit holders of record on July 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 April 2024 and the gas production for March 2024, which is considered current production. Preliminary production volumes are approximately 55,484 barrels of oil and 1,414,577 Mcf of gas. Preliminary prices are approximately $82.07 per barrel of oil and $1.29 per Mcf of gas.

This month's distribution is less than the previous month's primarily due to a decrease in oil production and a decrease in the price of natural gas, partially offset by an increase in the price of oil and an increase in natural gas production.

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		55,484			1,414,577			$82.07		$1.29
Prior Month		75,929			1,359,458			$81.23		$2.13

(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 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.

Due to the timing of the end of the month of June, approximately $539,000 of revenue received will be posted in the following month of July, in addition to normal cash receipts received during July. Since the close of business in June and prior to this press release, approximately $287,000 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/.

View original content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-july-2024-302189131.html

SOURCE Sabine Royalty Trust

FAQ

When will Sabine Royalty Trust pay the July 2024 cash distribution?

Sabine Royalty Trust will pay the July 2024 cash distribution on July 29, 2024.

How much is the July 2024 distribution per unit for Sabine Royalty Trust?

The July 2024 distribution per unit for Sabine Royalty Trust is $0.379040.

What were the preliminary production volumes for Sabine Royalty Trust in July 2024?

The preliminary production volumes were approximately 55,484 barrels of oil and 1,414,577 Mcf of gas.

What caused the decrease in Sabine Royalty Trust’s July 2024 distribution?

The decrease in distribution was due to lower oil production and a decrease in the price of natural gas.

What are the preliminary prices for oil and gas for Sabine Royalty Trust in July 2024?

The preliminary prices are approximately $82.07 per barrel of oil and $1.29 per Mcf of gas.