SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR NOVEMBER 2025

Rhea-AI Summary

Sabine Royalty Trust (NYSE: SBR) declared a monthly cash distribution of $0.356720 per unit, payable on November 28, 2025 to holders of record on November 17, 2025. The distribution reflects primarily August 2025 oil and July 2025 gas production.

Preliminary volumes: 65,727 barrels of oil and 1,135,345 Mcf gas. Preliminary prices: $63.80/bbl oil and $2.55/Mcf gas. This month's payout is lower than prior month mainly due to lower commodity prices and $942,000 in Ad Valorem tax deductions versus $167,000 a year earlier. Approximately $1,603,000 was received since the close of October and ~$831,000 of revenue will be posted in November due to timing.

Positive

• Distribution of $0.356720 per unit declared
• Oil production increased to 65,727 bbls (current month)
• Gas production increased to 1,135,345 Mcf (current month)

Negative

• Distribution lower due to oil price decline from $65.48 to $63.80
• Ad Valorem taxes deducted $942,000 this month vs $167,000 prior year

Insights

Royalty-trust cash-flow analyst

SABINE declared a November distribution of $0.356720 reflecting current production and higher Ad Valorem taxes.

The Trust paid $0.356720 per unit for the period and tied the payment to oil production for August 2025 and gas production for July 2025; preliminary volumes were 65,727 barrels of oil and 1,135,345 Mcf of gas with preliminary prices of $63.80 per barrel and $2.55 per Mcf. Revenues must be received, verified, and posted before distribution, and about $831,000 of receipts will post next month.

Key cash drivers this month were slightly higher volumes versus the prior month but lower commodity prices and a materially larger Ad Valorem tax deduction of approximately $942,000 versus $167,000 a year earlier; the tax timing materially reduced distributable cash. Watch posting timing and subsequent monthly receipts (notably the referenced $831,000) over the next 30 days for possible adjustment to near-term distributions.

Commodities and tax-impact analyst

Distribution cut versus prior month driven mainly by lower oil and gas prices and seasonal tax payments.

Average oil and gas prices used to calculate this distribution were $63.80 per barrel and $2.55 per Mcf, down from $65.48 and $2.62 respectively the prior month; production rose modestly, which partially offset price declines. The Trustee also withheld approximately $942,000 for Ad Valorem taxes, a normal year-end timing item but large enough to depress this month's payout.

Concrete items to monitor: unit record date November 17, 2025, pay date November 28, 2025, the ~$831,000 of late receipts expected to post next month, and any further tax renditions that could shift cash timing into December 2025. These items determine near-term distributable cash, so follow monthly postings and the Trust's receipts within the next 30 days.

DALLAS, Nov. 7, 2025 /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 $0.356720 per unit, payable on November 28, 2025, to unit holders of record on November 17, 2025. 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 August 2025 and the gas production for July 2025, which is considered current production. Preliminary production volumes are approximately 65,727 barrels of oil and 1,135,345 Mcf of gas. Preliminary prices are approximately $63.80 per barrel of oil and $2.55 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 pricing, along with deductions for the payment of Ad Valorem taxes during the month (see below). This is partially offset by an increase in oil and natural gas production. 

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		65,727			1,135,345				$63.80		$2.55
Prior Month		48,527			1,111,528				$65.48		$2.62
(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 October, approximately $831,000 of revenue received will be posted in the following month of November in addition to normal cash receipts received during November. Since the close of business in October and prior to this press release, approximately $1,603,000 in revenue has been received.

Approximately $942,000 for 2025 Ad Valorem taxes were deducted from this month's distribution as compared to $167,000 this time last year. In 2024, the Trustee was advised that some of the tax renditions were delayed somewhat, which impacted the months of November 2024 and December 2024. 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-november-2025-302607654.html

SOURCE Sabine Royalty Trust

FAQ

What is the Sabine Royalty Trust (SBR) cash distribution for November 2025?

The Trust declared a distribution of $0.356720 per unit, payable Nov 28, 2025 to holders of record on Nov 17, 2025.

What oil and gas volumes underpin the SBR November 2025 distribution?

Preliminary volumes are 65,727 barrels of oil and 1,135,345 Mcf of gas attributed to the distribution.

Why is the SBR November 2025 distribution lower than last month?

The distribution fell mainly due to lower commodity prices and higher Ad Valorem tax deductions this month.

How much were the Ad Valorem taxes deducted from the SBR November 2025 distribution?

Approximately $942,000 of Ad Valorem taxes were deducted from this month's distribution.

What oil and gas prices were used for the SBR November 2025 preliminary payout?

Preliminary prices used were about $63.80 per barrel of oil and $2.55 per Mcf of gas.

Will any received revenues be posted after the November 2025 distribution?

Yes; ~$831,000 of revenue received due to month-end timing will be posted in the following month.