Sabine Royalty Trust Announces Monthly Cash Distribution For September 2021

Rhea-AI Summary

Simmons Bank, Trustee of the Sabine Royalty Trust (SBR), announced a cash distribution of $0.274940 per unit, payable on September 29, 2021, to unit holders recorded by September 15, 2021. This distribution reflects oil production figures for May 2021 and gas production for April 2021, totaling approximately 46,167 barrels of oil and 677,387 Mcf of gas. The average prices per barrel of oil are $64.04 and $2.74 per Mcf of gas. Additionally, revenue delays due to pandemic-related disruptions have been noted, with over $1.6 million expected to be recorded in September.

Positive

• Cash distribution of $0.274940 per unit reflects stable income for unit holders.
• Preliminary production figures indicate a strong output of 46,167 barrels of oil and 677,387 Mcf of gas.

Negative

• Revenue delays due to pandemic disruptions may impact cash flow stability.
• Approximately $1,643,000 in revenue will be reported in September, suggesting cash flow issues.

DALLAS, Sept. 3, 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 $0.274940 per unit, payable on September 29, 2021, to unit holders of record on September 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 May 2021 and the gas production for April 2021.  Preliminary production volumes are approximately 46,167 barrels of oil and 677,387 Mcf of gas.  Preliminary prices are approximately $64.04 per barrel of oil and $2.74 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		46,167			677,387			$64.04		$2.74
Prior Month		53,612			785,545			$62.89		$2.54

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 August, 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 September.  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 August, approximately $1,643,000 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, $195,000 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 for Sabine Royalty Trust (SBR) announced on September 3, 2021?

The cash distribution amount is $0.274940 per unit.

When will the Sabine Royalty Trust (SBR) cash distribution be paid?

The distribution will be paid on September 29, 2021.

What were the preliminary production figures for oil and gas for Sabine Royalty Trust (SBR) in May and April 2021?

The preliminary figures are approximately 46,167 barrels of oil and 677,387 Mcf of gas.

What impact did the pandemic have on the revenues of Sabine Royalty Trust (SBR)?

Pandemic-related disruptions have caused delays in revenue posting.

How much revenue is expected to be posted in September for Sabine Royalty Trust (SBR)?

Approximately $1,643,000 of revenue is expected to be posted in September.