Sabine Royalty Trust Announces Monthly Cash Distribution For July 2017

DALLAS, July 7, 2017 /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 $0.161260 per unit, payable on July 31, 2017, to unit holders of record on July 17, 2017.  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 April 2017 and the gas production for March 2017.  Preliminary production volumes are approximately 29,829 barrels of oil and 522,651 Mcf of gas.  Preliminary prices are approximately $47.92 per barrel of oil and $2.71 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		29,829		522,651		$47.92		$2.71
Prior Month		34,627		415,714		$48.54		$2.82

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 June, approximately $915,000 of revenue received will be posted in the following month of July in addition to normal receipts during July.  Since the close of business in June and prior to this press release, approximately $541,000 in revenue has been received.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-july-2017-300484376.html

SOURCE Sabine Royalty Trust

Copyright 2017 PR Newswire