SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR OCTOBER 2024

Rhea-AI Summary

Sabine Royalty Trust (NYSE: SBR) has declared a cash distribution of $0.435840 per unit for October 2024, payable on October 29, 2024, to unit holders of record on October 15, 2024. This distribution primarily reflects oil production for July 2024 and gas production for June 2024. Preliminary production volumes are approximately 64,075 barrels of oil and 1,182,039 Mcf of gas, with prices at about $79.00 per barrel of oil and $1.81 per Mcf of gas.

The distribution is higher than the previous month's due to increased oil and gas pricing, slightly offset by decreased production. Compared to the prior month, oil production decreased from 64,743 barrels to 64,075 barrels, while gas production decreased from 1,359,603 Mcf to 1,182,039 Mcf. However, oil prices increased from $78.14 to $79.00 per barrel, and gas prices rose from $1.52 to $1.81 per Mcf.

Positive

• Increased cash distribution of $0.435840 per unit for October 2024
• Higher oil prices at $79.00 per barrel compared to $78.14 in the previous month
• Increased gas prices at $1.81 per Mcf compared to $1.52 in the previous month

Negative

• Decreased oil production from 64,743 barrels to 64,075 barrels
• Reduced gas production from 1,359,603 Mcf to 1,182,039 Mcf

Insights

Financial Analyst

This monthly distribution announcement from Sabine Royalty Trust provides valuable insights for investors. The $0.435840 per unit distribution represents a slight increase from the previous month, primarily due to higher oil and gas prices. This is a positive sign for unitholders, as it indicates improved revenue generation.

Key points to consider:

• Oil production: 64,075 barrels (slight decrease)
• Gas production: 1,182,039 Mcf (decrease)
• Oil price: $79.00 per barrel (increase)
• Gas price: $1.81 per Mcf (significant increase)

The higher distribution despite lower production volumes highlights the impact of commodity price fluctuations on the Trust's performance. Investors should monitor these trends closely, as they directly affect the Trust's income and distributions. The additional $169,000 in revenue received after the reporting period suggests a potentially strong start for the next distribution cycle.

DALLAS, Oct. 4, 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 $0.435840 per unit, payable on October 29, 2024, to unit holders of record on October 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 July 2024 and the gas production for June 2024, which is considered current production. Preliminary production volumes are approximately 64,075 barrels of oil and 1,182,039 Mcf of gas. Preliminary prices are approximately $79.00 per barrel of oil and $1.81 per Mcf of gas.

This month's distribution is higher than the previous month's primarily due to an increase in oil and gas pricing, slightly offset by a decrease in the production of both oil and natural gas.

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		64,075			1,182,039			$79.00		$1.81
Prior Month		64,743			1,359,603			$78.14		$1.52

(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 September, approximately $6,000 of revenue received will be posted in the following month of October, in addition to normal cash receipts received during October. Since the close of business in September and prior to this press release, approximately $169,000 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-october-2024-302267120.html

SOURCE Sabine Royalty Trust

FAQ

What is the cash distribution amount for Sabine Royalty Trust (SBR) in October 2024?

Sabine Royalty Trust (SBR) declared a cash distribution of $0.435840 per unit for October 2024.

When is the payment date for Sabine Royalty Trust's (SBR) October 2024 distribution?

The payment date for Sabine Royalty Trust's (SBR) October 2024 distribution is October 29, 2024.

What are the preliminary production volumes for Sabine Royalty Trust (SBR) in the current month?

The preliminary production volumes for Sabine Royalty Trust (SBR) are approximately 64,075 barrels of oil and 1,182,039 Mcf of gas.

How do the current month's oil and gas prices compare to the previous month for Sabine Royalty Trust (SBR)?

For Sabine Royalty Trust (SBR), the current month's oil price is $79.00 per barrel compared to $78.14 in the previous month, and the gas price is $1.81 per Mcf compared to $1.52 in the previous month.