Sabine Royalty Trust Announces Monthly Cash Distribution For July 2021

Rhea-AI Summary

Simmons Bank, Trustee of the Sabine Royalty Trust (NYSE: SBR), announced a cash distribution of $0.278250 per unit, payable on July 29, 2021. This distribution is based on oil production from March 2021 and gas production from February 2021, amounting to approximately 52,988 barrels of oil and 637,149 Mcf of gas. The average prices were $56.35 per barrel and $2.95 per Mcf. Due to operational delays related to shelter-at-home orders, approximately $1,453,000 in revenue will be posted in July. The 2020 Annual Report is also available on their website.

Positive

• Monthly cash distribution of $0.278250 per unit indicates consistent revenue flow.
• Production increased to 52,988 barrels of oil and 637,149 Mcf of gas from the previous month.

Negative

• Revenue delay due to operational disruptions related to shelter-at-home orders.
• No revenues received since the end of June prior to this announcement.

DALLAS, July 2, 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 $0.278250 per unit, payable on July 29, 2021, to unit holders of record on July 15, 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 March 2021 and the gas production for February 2021.  Preliminary production volumes are approximately 52,988 barrels of oil and 637,149 Mcf of gas.  Preliminary prices are approximately $56.35 per barrel of oil and $2.95 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		52,988			637,149			$56.35		$2.95
Prior Month		45,851			476,918			$59.10		$4.87

 

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 June, 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 July.  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 June, approximately $1,453,000 of revenue received will be posted in the following month of July in addition to normal receipts during July.  Since the close of business in June and prior to this press release, there has been no revenue 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/. 

 

View original content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-july-2021-301324865.html

SOURCE Sabine Royalty Trust

FAQ

What is the cash distribution amount for Sabine Royalty Trust (SBR) in July 2021?

The cash distribution amount for July 2021 is $0.278250 per unit.

When will the cash distribution for SBR be paid?

The cash distribution will be paid on July 29, 2021.

What factors affected the revenue posting for Sabine Royalty Trust in June 2021?

Operational delays due to shelter-at-home orders significantly affected the revenue posting.

What were the production volumes for oil and gas for SBR in March 2021?

In March 2021, production was approximately 52,988 barrels of oil and 637,149 Mcf of gas.

Where can I find the 2020 Annual Report for Sabine Royalty Trust (SBR)?

The 2020 Annual Report is available on the Sabine Royalty Trust website.