SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR DECEMBER 2024
Rhea-AI Summary
Sabine Royalty Trust (NYSE: SBR) has declared a cash distribution of $0.311170 per unit for December 2024, payable on December 30, 2024, to unitholders of record on December 16, 2024. The distribution reflects oil production for September 2024 and gas production for August 2024, with preliminary volumes of 68,183 barrels of oil and 1,536,640 Mcf of gas. Average prices were $71.76 per barrel of oil and $1.39 per Mcf of gas.
This month's distribution decreased from the previous month due to lower oil and gas production volumes and decreased pricing. Additionally, approximately $1,526,000 of revenue will be posted in December, and $1,624,000 was deducted for 2024 Ad Valorem taxes.
Positive
- Continued monthly cash distribution to unitholders
- Additional $1,526,000 revenue to be posted in December
Negative
- Decrease in oil production from 70,299 to 68,183 barrels
- Decrease in gas production from 1,898,789 to 1,536,640 Mcf
- Oil price decline from $76.90 to $71.76 per barrel
- Gas price decline from $1.78 to $1.39 per Mcf
- Higher Ad Valorem taxes deduction ($1,624,000 vs $990,000 last year)
News Market Reaction – SBR
In the trading session that priced this news, SBR declined 0.63%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
This distribution reflects primarily the oil production for September 2024 and the gas production for August 2024, which is considered current production. Preliminary production volumes are approximately 68,183 barrels of oil and 1,536,640 Mcf of gas. Preliminary prices are approximately
This month's distribution is lower than the previous month's primarily due to a decrease in oil and gas production, as well as a decrease in the pricing of both 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 | 68,183 | 1,536,640 | ||||||||
Prior Month | 70,299 | 1,898,789 | ||||||||
(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 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 2023 Annual Report with Form 10-K and the January 1, 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, 2023, 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.
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SOURCE Sabine Royalty Trust