Sabine Royalty Trust Announces Monthly Cash Distribution For July 2021
Simmons Bank, Trustee of the Sabine Royalty Trust (NYSE: SBR), announced a cash distribution of $0.278250 per unit, payable on July 29, 2021. This distribution is based on oil production from March 2021 and gas production from February 2021, amounting to approximately 52,988 barrels of oil and 637,149 Mcf of gas. The average prices were $56.35 per barrel and $2.95 per Mcf. Due to operational delays related to shelter-at-home orders, approximately $1,453,000 in revenue will be posted in July. The 2020 Annual Report is also available on their website.
- Monthly cash distribution of $0.278250 per unit indicates consistent revenue flow.
- Production increased to 52,988 barrels of oil and 637,149 Mcf of gas from the previous month.
- Revenue delay due to operational disruptions related to shelter-at-home orders.
- No revenues received since the end of June prior to this announcement.
DALLAS, July 2, 2021 /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 March 2021 and the gas production for February 2021. Preliminary production volumes are approximately 52,988 barrels of oil and 637,149 Mcf of gas. Preliminary prices are approximately
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 | 52,988 | 637,149 | ||||||||
Prior Month | 45,851 | 476,918 | ||||||||
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.
During the month of June, the respective shelter-at-home/work-from-home orders across the spectrum of the industry has significantly affected the posting of revenues for the Trust, until the following month of July. As adjustments are made accordingly, the functions of the Trust are still being performed, although on a delayed basis. We will continue to strive to make the operations of the Trust and its providers, as fluid as possible.
Due to the timing of the end of the month of June, approximately
The 2020 Annual Report with Form 10-K and the January 1, 2021 Reserve Summary are now available on the Sabine website at http://www.sbr-sabine.com/.
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SOURCE Sabine Royalty Trust
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