DALLAS, Sept. 7, 2018 /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 $0.262550 per unit, payable on September 28, 2018, to
unit holders of record on September 17, 2018. 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 2018 and the gas production for
May 2018. Preliminary production volumes are approximately 48,330 barrels of oil and 537,107 Mcf of gas. Preliminary
prices are approximately $61.03 per barrel of oil and $2.71 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
|
|
48,330
|
|
537,107
|
|
$61.03
|
|
$2.71
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
44,323
|
|
572,519
|
|
$60.75
|
|
$2.51
|
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 August, approximately $2,618,000 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 $1,208,000 in revenue has been
received.
The January 1, 2018 Reserve Summary is available on the Sabine website at http://www.sbr-sabine.com/.
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SOURCE Sabine Royalty Trust