Sabine Royalty Trust Announces Monthly Cash Distribution For October 2016

DALLAS, Oct. 5, 2016 /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 $0.23324 per unit, payable on October 31, 2016, to unit holders of record on October 17, 2016.  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 July 2016 and the gas production for June 2016.  Preliminary production volumes are approximately 69,108 barrels of oil and 443,213 Mcf of gas.  Preliminary prices are approximately $41.86 per barrel of oil and $2.21 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		69,108		443,213			$41.86		$2.21
Prior Month		50,694		770,090			$43.53		$2.08

 

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 September, approximately $747,000 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, approximately $1,007,000 in revenue has been received.

 

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SOURCE Sabine Royalty Trust

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