SABINE ROYALTY TRUST ANNOUNCE MONTHLY CASH DISTRIBUTION FOR DECEMBER 2022
DALLAS, Dec. 5, 2022 /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
This distribution reflects primarily the oil production for September 2022 and the gas production for August 2022. Preliminary production volumes are approximately 59,760 barrels of oil and 1,874,536 Mcf of gas. Preliminary prices are approximately
This month's distribution is higher than the previous month's primarily due to increased production due to the timing of receipts through the end of the month as compared to the previous month's timing of receipts, offset by a decrease in oil pricing and flat pricing for gas.
The production from new horizontal gas wells in Panola County, Texas, has contributed approximately
Also, revenue of
Additionally, for the other 3 horizontal wells, also in Panola County, the receipts were not posted for this month's distribution.
As more regular monthly receipts are made in the months to come, additional information will be made available.
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 | 59,760 | 1,874,536 | ||||||||
Prior Month | 36,531 | 983,628 | ||||||||
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 November, approximately
Approximately
The 2021 Annual Report with Form 10-K and the January 1, 2022 Reserve Summary has been posted on the Sabine website at http://www.sbr-sabine.com/.
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SOURCE Sabine Royalty Trust