Sabine Royalty Trust Announces Monthly Cash Distribution For September 2019

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Sep 06, 2019, 09:30 ET

DALLAS, Sept. 6, 2019 /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 $0.241250 per unit, payable on September 30, 2019, to unit holders of record on September 16, 2019. 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 June 2019 and the gas production for May 2019. Preliminary production volumes are approximately 60,753 barrels of oil and 737,353 Mcf of gas. Preliminary prices are approximately $53.59 per barrel of oil and $1.33 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	60,753	737,353	$53.59	$1.33

Prior Month	50,457	524,249	$57.62	$1.97

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 August, approximately $4,307,394 of revenue received will be posted in the following month of September in addition to normal receipts during September. Since the close of business in August and prior to this press release, approximately $16,000 in revenue has been received.

The 2018 Annual Report with Form 10-K with the January 1, 2019 Reserve Summary and the 1^st Quarter 2019 report are now available on Sabine website at http://www.sbr-sabine.com/.

SOURCE Sabine Royalty Trust