Sabine Royalty Trust Announces Cash Distribution for September
Overview of Cash Distribution Announcement
Argent Trust Company, as Trustee of the Sabine Royalty Trust (NYSE: SBR), has declared a cash distribution to the holders of its units of beneficial interest, amounting to $0.421310 per unit. This distribution will be payable at the end of the month to unit holders of record prior to the distribution date. This announcement is part of the Trust's ongoing commitment to its investors, highlighting its financial performance and production results.
Production Insights
This month's cash distribution notably reflects oil production for June and gas production for May, which are seen as the most current figures available. Preliminary production volumes indicate approximately 64,743 barrels of oil and 1,359,603 Mcf of natural gas. Meanwhile, the average selling prices reached about $78.14 per barrel for oil and $1.52 per Mcf for gas.
Comparison with Previous Month
This distribution represents a slight decline compared to the previous month. The decrease in oil production largely influenced the reduction, though this was partially compensated by rising prices in both oil and natural gas segments alongside an uptick in natural gas production.
Revenue Distribution Process
The revenue generated by the Trust is distributed only after all amounts are received, verified, and correctly posted. Typically, most energy companies send royalty payments around the 25th of each month. However, due to postal delays, some revenues may not be recorded until after the last business day of the month. Revenues received past this deadline will be accounted for within 30 days.
Upcoming Revenue Considerations
Due to the timing of revenue at the end of August, an additional $89,000 in revenue will be logged in September, on top of the monthly receipts. Prior to this announcement, approximately $302,000 in revenue was already received, contributing to a robust financial outlook.
Reporting and Resources
For those interested, the 2023 Annual Report, which includes the comprehensive Form 10-K and the Reserve Summary from January 1, 2024, will be accessible through the Sabine website. Detailed reports can be requested and mailed to stakeholders without any associated costs.
Frequently Asked Questions
What is the announced cash distribution amount for September?
The announced cash distribution for September is $0.421310 per unit.
How is the distribution amount determined?
The distribution amount is based on the oil and gas production volumes and prices reported for the previous months.
When will the distribution be payable?
The cash distribution will be payable at the end of the month, specifically to unit holders of record before the distribution date.
Where can investors access the Annual Report?
Investors can find the Annual Report and other financial details on the official Sabine website.
What factors led to the decrease in September's distribution?
The decrease is primarily attributed to a drop in oil production, although it was slightly offset by higher prices for oil and gas and an increase in natural gas production.
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