DALLAS, Nov. 3, 2016 /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
$0.11702 per unit, payable on November 29, 2016, to unit holders of
record on November 15, 2016. 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 August 2016 and the gas production
for July 2016. Preliminary production volumes are approximately 33,645 barrels of oil and 485,265 Mcf of
gas. Preliminary prices are approximately $42.46 per barrel of oil and $2.69 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
|
|
33,645
|
|
485,265
|
|
$42.46
|
|
$2.69
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
69,108
|
|
443,213
|
|
$41.86
|
|
$2.21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues are only posted and distributed when they are received. 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 October, approximately $1,346,000 of revenue
received will be posted in the following month of November in addition to normal receipts during November. Since the close
of business in October and prior to this press release, approximately $992,000 in revenue has been
received.
Approximately $558,000 for 2016 Ad Valorem taxes was deducted from this month's distribution as
compared to $448,000 this time last year. These payments are normal expenditures at this time
of year.
The 2016 tax information packets are expected to begin mailing directly to unitholders in early March 2017. A copy of
Sabine's 2016 tax information booklet will be posted on Sabine's website by March 1, 2017. In addition to the tax booklet the
Sabine website will also offer two simple calculators for computing the income and expense
amounts and the cost depletion. The calculators are currently expected to be updated with the 2016 tax information by
February 15, 2017.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-november-2016-300356926.html
SOURCE Sabine Royalty Trust