Sabine Royalty Trust Announces Monthly Cash Distribution For October 2021

Rhea-AI Summary

Simmons Bank, as Trustee of the Sabine Royalty Trust (SBR), announced a cash distribution of $0.341580 per unit, payable on October 29, 2021. This distribution is based on oil production from June 2021 and gas production from May 2021, with preliminary volumes at 49,820 barrels of oil and 777,419 Mcf of gas. Average prices were approximately $69.96 per barrel of oil and $2.94 per Mcf of gas. The trust experienced delays in revenue posting due to operational challenges, with $1,601,000 in revenue shifted to October.

Positive

• Declared cash distribution of $0.341580 per unit.
• Production volumes increased: 49,820 barrels of oil and 777,419 Mcf of gas.
• Higher average prices: $69.96 per barrel (oil) and $2.94 per Mcf (gas).

Negative

• Revenue postings delayed due to operational challenges in September.

DALLAS, Oct. 5, 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 $0.341580 per unit, payable on October 29, 2021, to unit holders of record on October 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 June 2021 and the gas production for May 2021.  Preliminary production volumes are approximately 49,820 barrels of oil and 777,419 Mcf of gas.  Preliminary prices are approximately $69.96 per barrel of oil and $2.94 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		49,820			777,419			$69.96		$2.94
Prior Month		46,167			677,387			$64.04		$2.74

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 September, 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 September, approximately $1,601,000 of revenue received will be posted in the following month of October in addition to normal receipts during October.  Since the close of business in September and prior to this press release, $1,502,000 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/. 

View original content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-october-2021-301392970.html

SOURCE SABINE ROYALTY TRUST

FAQ

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

The cash distribution amount for October 2021 is $0.341580 per unit.

When is the payment date for the Sabine Royalty Trust (SBR) cash distribution?

The payment date for the cash distribution is October 29, 2021.

What were the oil and gas production volumes for Sabine Royalty Trust (SBR) in June and May 2021?

The production volumes were approximately 49,820 barrels of oil and 777,419 Mcf of gas.

What are the average prices for oil and gas for Sabine Royalty Trust (SBR) in June and May 2021?

The average prices were approximately $69.96 per barrel for oil and $2.94 per Mcf for gas.

Why were revenue postings delayed for Sabine Royalty Trust (SBR)?

Revenue postings were delayed due to operational challenges related to shelter-at-home orders affecting the industry.