SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR DECEMBER 2025

Rhea-AI Summary

Sabine Royalty Trust (NYSE: SBR) declared a $0.196670 cash distribution per unit, payable on December 29, 2025 to holders of record on December 15, 2025. The distribution primarily reflects oil production for September 2025 and gas production for August 2025.

Preliminary volumes were 28,904 barrels of oil and 796,698 Mcf of gas, with preliminary prices of $64.19/bbl for oil and $2.61/Mcf for gas. The distribution declined versus the prior month due mainly to lower oil and gas volumes, partially offset by higher prices and a decrease in Ad Valorem taxes. Approximately $696,000 of revenue will be posted next month, and about $1,012,000 was received since November close.

Reports, SEC filings, and tax booklets are available on the trust website, and printed reports can be requested free of charge.

Positive

• Declared distribution of $0.196670 per unit
• Ad Valorem taxes down by $1,167,000 year-over-year
• Approximately $1,012,000 in revenue received since November close

Negative

• Oil sales volume fell from 65,727 to 28,904 barrels (≈56% decline)
• Gas sales volume fell from 1,135,345 to 796,698 Mcf (≈30% decline)
• Approximately $696,000 of revenue deferred to next month

News Market Reaction – SBR

-8.87%

1 alert

-8.87% News Effect

On the day this news was published, SBR declined 8.87%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

December distribution: $0.196670 per unit Oil production: 28,904 barrels Gas production: 796,698 Mcf +5 more

8 metrics

December distribution $0.196670 per unit Payable Dec 29, 2025; record date Dec 15, 2025

Oil production 28,904 barrels Preliminary current-month oil volume net to Trust

Gas production 796,698 Mcf Preliminary current-month gas volume net to Trust

Oil price $64.19 per barrel Preliminary current-month realized oil price

Gas price $2.61 per Mcf Preliminary current-month realized gas price

Deferred revenue $696,000 Revenue received too late for November posting; to be posted in December

Revenue since November close $1,012,000 Revenue received between November close and press release

Ad Valorem taxes $457,000 2025 Ad Valorem taxes deducted from this month’s distribution

Market Reality Check

Price: $69.89 Vol: Volume 23,973 is below th...

normal vol

$69.89 Last Close

Volume Volume 23,973 is below the 20-day average of 32,666, indicating muted pre-news activity. normal

Technical Units traded above the 200-day MA, with price $78.93 vs 200-day MA of $69.51 before this announcement.

Peers on Argus

SBR slipped 0.29% while peers showed a mixed picture: PBT gained 1.65%, NVGS ros...

SBR slipped 0.29% while peers showed a mixed picture: PBT gained 1.65%, NVGS rose 0.84%, TK edged up 0.10%, and FLNG/LPG were modestly negative. Moves appear more SBR-specific than sector-driven.

Historical Context

5 past events · Latest: Nov 07 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 07	Monthly distribution	Negative	+3.0%	Lower distribution driven by weaker commodity prices and higher Ad Valorem taxes.
Oct 03	Monthly distribution	Negative	-3.5%	Lower payout tied to reduced oil production and softer oil prices.
Sep 05	Monthly distribution	Negative	-2.5%	Distribution decline on lower production volumes and weaker oil and gas pricing.
Aug 05	Monthly distribution	Positive	+3.0%	Higher payout supported by increased oil and gas volumes and better oil pricing.
Jul 03	Monthly distribution	Negative	-1.1%	Distribution decrease linked to lower hydrocarbon volumes and reduced oil prices.

Pattern Detected

Monthly distribution headlines often drive modest moves that generally align with whether payouts and underlying production/pricing trends improve or weaken, with one recent divergence on a weaker distribution.

Recent Company History

Over the last five months, Sabine Royalty Trust has issued regular monthly distribution updates, with per‑unit payouts ranging from $0.345930 to $0.744730. These releases consistently link payouts to underlying oil and gas volumes, realized prices, and Ad Valorem tax deductions. Several months highlighted declining distributions tied to lower production or pricing, while August’s higher $0.744730 payout was supported by stronger volumes and pricing. Market reactions have been modest but directionally sensitive to the quality of each update, providing context for today’s lower $0.196670 distribution tied to reduced production.

Market Pulse Summary

The stock moved -8.9% in the session following this news. A negative reaction despite this being a r...

Analysis

The stock moved -8.9% in the session following this news. A negative reaction despite this being a routine monthly update could fit the pattern of sensitivity to distribution cuts. Earlier releases showed per‑unit payouts moving with production and commodity prices, and this update points to lower oil and gas volumes driving a reduced $0.196670 distribution, partly offset by firmer pricing and lower Ad Valorem taxes. If selling became pronounced, it could reflect concern that recent volume declines may pressure future cash distributions despite timing-related revenue deferrals.

Key Terms

mcf, ad valorem taxes, royalties, form 10-k

4 terms

mcf technical

"Preliminary production volumes are approximately 28,904 barrels of oil and 796,698 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

"These decreases were partially offset by higher oil and natural gas prices, along with a decrease in Ad Valorem taxes."

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.

royalties financial

"Most energy companies normally issue payment of royalties on or about the 25th of every month,"

Payments made to the owner of an asset or intellectual property each time that asset is used or a product is sold, often calculated as a percentage of sales or a set amount per unit. Royalties matter to investors because they create predictable, ongoing income streams and affect a company’s cash flow and valuation—like a landlord collecting rent or an author getting a steady cut whenever a book is sold.

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, Dec. 5, 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 $0.196670 per unit, payable on December 29, 2025, to unit holders of record on December 15, 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 September 2025 and the gas production for August 2025, which is considered current production. Preliminary production volumes are approximately 28,904 barrels of oil and 796,698 Mcf of gas. Preliminary prices are approximately $64.19 per barrel of oil and $2.61 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. These decreases were partially offset by higher oil and natural gas prices, along with a decrease in Ad Valorem taxes.

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		28,904			796,698			$64.19		$2.61
Prior Month		65,727			1,135,345			$63.80		$2.55

(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 November, approximately $696,000 of revenue received will be posted in the following month of December in addition to normal cash receipts received during December. Since the close of business in November and prior to this press release, approximately $1,012,000 in revenue has been received.

Approximately $457,000 for 2025 Ad Valorem taxes were deducted from this month's distribution as compared to $1,624,000 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.

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SOURCE Sabine Royalty Trust

FAQ

What cash distribution did Sabine Royalty Trust (SBR) declare for December 2025?

Sabine declared a cash distribution of $0.196670 per unit, payable December 29, 2025.

What are the SBR record and payment dates for the December 2025 distribution?

Record date is December 15, 2025; payment date is December 29, 2025.

Why is the SBR December 2025 distribution lower than the prior month?

The distribution was lower mainly due to decreased oil and gas production, partially offset by higher prices and lower Ad Valorem taxes.

What were Sabine's preliminary production volumes and prices used for December 2025 distribution?

Preliminary volumes: 28,904 barrels oil and 796,698 Mcf gas; prices: $64.19/bbl oil and $2.61/Mcf gas.

How did Ad Valorem taxes affect the December 2025 SBR distribution?

About $457,000 of Ad Valorem taxes were deducted this month versus $1,624,000 the prior year, reducing tax expense.

Where can SBR investors find the 2024 annual report, Form 10-K, and tax booklets?

These documents are available on the Sabine website at http://www.sbr-sabine.com/, and printed copies are mailed free on request.

Will any Sabine revenue be posted after December 2025 distributions?

Yes. Approximately $696,000 of revenue received at month end will be posted in the following month.