SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR FEBRUARY 2026

Rhea-AI Summary

Sabine Royalty Trust (NYSE: SBR) declared a cash distribution of $0.283370 per unit, payable February 27, 2026, to holders of record on February 17, 2026. This distribution primarily reflects November 2025 oil and October 2025 gas production.

Preliminary volumes were ~45,316 barrels of oil and ~1,026,714 Mcf of gas with preliminary prices of $59.01/bbl and $2.27/Mcf. Production and prices were lower than the prior month, and approximately $476,000 was received since month close with ~$166,000 to be posted next month.

Positive

• Distribution declared of $0.283370 per unit payable Feb 27, 2026
• Ad valorem taxes deducted $17,000 versus $115,000 prior year
• $476,000 revenue received since close, supporting near-term cash

Negative

• Oil volumes down 19.8% MoM (56,504 to 45,316 barrels)
• Gas volumes down 21.9% MoM (1,314,850 to 1,026,714 Mcf)
• Preliminary pricing slightly lower: oil $59.01 vs prior $61.05

Key Figures

February 2026 distribution: $0.283370 per unit Pre-distribution price: $69.62 Oil volume: 45,316 barrels +5 more

8 metrics

February 2026 distribution $0.283370 per unit Declared payable on February 27, 2026

Pre-distribution price $69.62 Price before February 6, 2026 announcement

Oil volume 45,316 barrels Preliminary net-to-trust oil production for November 2025

Gas volume 1,026,714 Mcf Preliminary net-to-trust gas production for October 2025

Oil price $59.01 per barrel Preliminary realized price for current distribution month

Gas price $2.27 per Mcf Preliminary realized gas price for current distribution month

Revenue deferred $166,000 January revenue to be posted with February receipts

Ad Valorem taxes $17,000 2025 Ad Valorem tax deduction from this month’s distribution

Market Reality Check

Price: $69.62 Vol: Volume 19,274 is below th...

low vol

$69.62 Last Close

Volume Volume 19,274 is below the 20-day average of 38,237, indicating muted trading interest into this distribution update. low

Technical Price at $69.62 is trading slightly below the 200-day MA of $70.24 and about 17.5% under the 52-week high.

Peers on Argus

SBR is down 1.71% while key peers show mixed moves: PBT (-1.78%), NVGS (-0.23%),...

SBR is down 1.71% while key peers show mixed moves: PBT (-1.78%), NVGS (-0.23%), FLNG (-0.46%) versus LPG (+3.58%) and TK (+0.69%), pointing to stock-specific dynamics rather than a broad sector move.

Historical Context

5 past events · Latest: Jan 05 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 05	Monthly distribution	Negative	-3.0%	January 2026 cash distribution with higher Ad Valorem tax deduction and lower payout.
Dec 05	Monthly distribution	Negative	-8.9%	December 2025 distribution declined on lower oil and gas volumes despite higher prices.
Nov 07	Monthly distribution	Negative	+3.0%	November 2025 payout lower due to commodity prices and higher Ad Valorem taxes.
Oct 03	Monthly distribution	Negative	-3.5%	October 2025 payout lower mainly from reduced oil production and lower oil pricing.
Sep 05	Monthly distribution	Negative	-2.5%	September 2025 distribution decreased on lower production volumes and prices for oil and gas.

Pattern Detected

Monthly distribution announcements have often coincided with modest downside reactions when payouts or underlying production/pricing trend lower, with one notable upside move on a richer distribution profile.

Recent Company History

Over the last five months, Sabine has repeatedly announced routine monthly cash distributions, with per-unit payouts ranging from $0.196670 to $0.584110. These updates consistently tie distributions to specific production months, preliminary oil and gas volumes, realized prices, and Ad Valorem tax deductions. Price reactions were mostly negative following lower production, softer pricing, or higher taxes, while the November 2025 release with higher volumes and prices saw a positive move. Today’s lower February 2026 payout fits that broader pattern.

Market Pulse Summary

This announcement details Sabine’s February 2026 cash distribution of $0.283370 per unit, based on c...

Analysis

This announcement details Sabine’s February 2026 cash distribution of $0.283370 per unit, based on current oil and gas production levels and realized prices. Volumes of 45,316 oil barrels and 1,026,714 Mcf of gas and softer pricing versus the prior month explain the lower payout. Timing effects shift about $166,000 of revenue into the next period, while Ad Valorem tax deductions declined to $17,000. Investors may watch upcoming releases for trends in volumes, pricing, and tax impacts on distributions.

Key Terms

mcf, ad valorem taxes, royalty income, form 10-k

4 terms

mcf technical

"Preliminary production volumes are approximately 45,316 barrels of oil and 1,026,714 Mcf of gas."

Mcf stands for thousand cubic feet and is a standard unit used to measure natural gas volume. For investors, Mcf translates physical gas production or consumption into a metric that directly affects revenue and valuation—think of it as counting liters of fuel your car used, where higher Mcf usually means more product to sell or higher costs to buy, and changes can signal shifts in supply, demand, or profitability.

ad valorem taxes financial

"Approximately $17,000 for 2025 Ad Valorem taxes were deducted from this month's distribution"

Ad valorem taxes are charges calculated as a percentage of an item's or property's assessed value, for example a tax on a home's market price or on the value of imported goods. Investors care because these taxes increase the cost of owning assets or selling products and can reduce returns and cash flow; think of them as a toll that grows when the underlying value rises, affecting valuations and planning.

royalty income financial

"Sales volumes are recorded in the month the Trust receives and identifies the related royalty income."

Royalty income is money a company or individual receives for allowing others to use its intellectual property, natural resources, or patented processes — like collecting rent when you let someone use your idea, song, mineral rights, or technology. It matters to investors because royalties can provide steady, often high-margin cash flow with low ongoing costs, making a business more predictable and easier to value; think of it as a durable revenue stream that keeps paying as long as the asset is in demand.

form 10-k regulatory

"The 2024 Annual Report with Form 10-K and the December 31, 2024, Reserve Summary are available"

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

AI-generated analysis. Not financial advice.

DALLAS, Feb. 6, 2026 /PRNewswire/ -- Argent Trust Company, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.283370 per unit, payable on February 27, 2026, to unit holders of record on February 17, 2026. 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/.  Additionally, printed reports can be requested and are mailed free of charge.

This distribution reflects primarily the oil production for November 2025 and the gas production for October 2025, which is considered current production. Preliminary production volumes are approximately 45,316 barrels of oil and 1,026,714 Mcf of gas. Preliminary prices are approximately $59.01 per barrel of oil and $2.27 per Mcf of gas.

This month's distribution is lower than the previous month's primarily due to a decrease in oil and natural gas production, along with lower pricing for oil and natural gas.

The table below compares this month's production and prices to the previous month's:

		Net to Trust Sales
		Volumes (a)						Average Price (a)
		Oil (bbls)			Gas (Mcf)			Oil (per bbl)		Gas (per Mcf)
Current Month		45,316			1,026,714			$59.01		$2.27
Prior Month		56,504			1,314,850			$61.05		$2.31

^{(a)   Sales volumes are recorded in the month the Trust receives and identifies the related royalty income. Because of this, sales volumes and pricing may fluctuate from month to month based on the timing of cash receipts.}

Revenues are only distributed after they are received, verified, and posted. 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 January, approximately $166,000 of revenue received will be posted in the following month of February in addition to normal cash receipts received during February. Since the close of business in January and prior to this press release, approximately $476,000 in revenue has been received.

Approximately $17,000 for 2025 Ad Valorem taxes were deducted from this month's distribution as compared to $115,000 this time last year. Ad Valorem tax payments are normal expenditures at this time of year.

The 2024 Annual Report with Form 10-K and the December 31, 2024, Reserve Summary are available on the Sabine website at http://www.sbr-sabine.com/. 

Forward-looking Statements

Any statements in this press release about future events or conditions, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," "may," "intends" and similar expressions, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors or risks that could cause the Trust's actual results to differ materially from the results the Trustee anticipates include, but are not limited to the factors described in Part I, Item 1A, "Risk Factors" of the Trust's Annual Report on Form 10-K for the year ended December 31, 2024, and Part II, Item 1A, "Risk Factors" of subsequently filed Quarterly Reports on Form 10-Q.

Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this press release represent the Trustee's views as of the date hereof. The Trustee anticipates that subsequent events and developments may cause its views to change. However, while the Trustee may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Trustee's views as of any date subsequent to the date hereof.

View original content:https://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-february-2026-302680496.html

SOURCE Sabine Royalty Trust

FAQ

How much is Sabine Royalty Trust (SBR) paying per unit for February 2026?

The Trust declared $0.283370 per unit, payable February 27, 2026. According to the company, holders of record on February 17, 2026 will receive the payment.

What production months does the SBR February 2026 distribution reflect?

The distribution reflects primarily November 2025 oil production and October 2025 gas production. According to the company, those months are considered current production for this payout.

What were Sabine's preliminary volumes and prices underlying the February 2026 distribution?

Preliminary volumes were ~45,316 barrels of oil and ~1,026,714 Mcf of gas, with prices ~$59.01/bbl and $2.27/Mcf. According to the company these are preliminary figures.

Why is the February 2026 distribution lower than the previous month for SBR?

The distribution is lower mainly because oil and gas production declined and prices eased month-over-month. According to the company, both lower volumes and pricing reduced distributable revenue.

Were there any post-close receipts affecting SBR's February 2026 cash posting?

Yes. Approximately $476,000 was received since month close, and about $166,000 will be posted in the following month. According to the company, timing of receipts affects posting and distributions.