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Sabine Royalty Trust Announces Monthly Cash Distribution For February 2020

February 6, 2020 GMT

DALLAS, Feb. 6, 2020 /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 $0.218910 per unit, payable on February 28, 2020, to unit holders of record on February 18, 2020. 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/.

This distribution reflects primarily the oil production for November 2019 and the gas production for October 2019. Preliminary production volumes are approximately 52,480 barrels of oil and 595,731 Mcf of gas. Preliminary prices are approximately $55.54 per barrel of oil and $1.87 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


52,480


595,731


$55.54


$1.87










Prior Month


69,962


686,120


$54.09


$1.94


Revenues are only distributed after they are received, verified and posted. Most energy companies normally issue payment of royalties on or about the 25th 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 January, approximately $1,367,245 of revenue received will be posted in the following month of February in addition to normal receipts during February. Since the close of business in January and prior to this press release, approximately $833,000 in revenue has been received.

Approximately $145,000 for 2019 Ad Valorem taxes was deducted from this month’s distribution as compared to $271,000 this time last year. These payments are normal expenditures at this time of year.

The 2019 tax information packets are expected to begin mailing directly to unitholders in early March 2020. A copy of Sabine’s 2019 tax information booklet will be posted on Sabine’s website by March 1, 2020. In addition to the tax booklet the Sabine website will also offer two simple calculators for computing the income and expense amounts and the cost depletion. The calculators are currently expected to be updated with the 2019 tax information by February 18, 2020.

The 2018 Annual Report with Form 10-K with the January 1, 2019 Reserve Summary and current 2019 quarterly reports are now available on Sabine website at http://www.sbr-sabine.com/.

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SOURCE Sabine Royalty Trust