Sabine Royalty Trust Announces Monthly Cash Distribution For March 2017

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Mar 03, 2017, 08:30 ET

DALLAS, March 3, 2017 /PRNewswire/ -- Southwest 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 $0.137450 per unit, payable on March 29, 2017, to unit holders of record on March 15, 2017. 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/.

This distribution reflects primarily the oil production for December 2016 and the gas production for November 2016. Preliminary production volumes are approximately 30,137 barrels of oil and 412,653 Mcf of gas. Preliminary prices are approximately $47.86 per barrel of oil and $2.78 per Mcf of gas.

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	30,137	412,653	$47.86	$2.78

Prior Month	46,482	425,198	$45.72	$2.77

Revenues are only posted and distributed when they are received. 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 February, approximately $831,000 of revenue received will be posted in the following month of March in addition to normal receipts during March. Since the close of business in February and prior to this press release, approximately $316,000 in revenue has been received.

The 2016 tax information packets were mailed directly to unitholders on February 23, 2017. A copy of Sabine's 2016 tax information booklet has been posted on Sabine's website. In addition to the tax booklet the Sabine website also offers two simple calculators for computing the income and expense amounts and the cost depletion. The calculators are updated with the 2016 tax information.

SOURCE Sabine Royalty Trust