Sabine Royalty Trust Announces Monthly Cash Distribution For September

DALLAS, Sept. 3, 2015 /PRNewswire/ -- Southwest 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 $0.35285 per unit, payable on September 29, 2015, to unit holders of record on September 15, 2015.  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 June 2015 and the gas production for May 2015.  Preliminary production volumes are approximately 47,821 barrels of oil and 1,069,353 Mcf of gas.  Preliminary prices are approximately $55.62 per barrel of oil and $3.14 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		47,821		1,069,353			$55.62		$3.14
Prior Month		48,891		705,653			$56.71		$2.66

Revenues are only posted and distributed when they are received.  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 August, approximately $1,780,000 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, approximately $1,133,000 revenue has been received.

 

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SOURCE Sabine Royalty Trust

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