DALLAS, Feb. 4, 2015 /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 $0.27708 per unit,
payable on February 27, 2015, to unit
holders of record on February 17,
2015. 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
November 2014 and the gas production
for October 2014. Preliminary production volumes are
approximately 32,957 barrels of oil and 747,796 Mcf of
gas. Preliminary prices are approximately $73.77 per barrel of oil and $3.19 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
|
|
32,957
|
|
747,796
|
|
$73.77
|
|
$3.19
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
37,842
|
|
746,567
|
|
$74.84
|
|
$3.96
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 January and the
transition to new systems, approximately $3,386,835 of revenue received will be posted in
the following month of February in addition to normal receipts
during February. Since the close of business in January and prior
to this press release, approximately $38,000 revenue has been
received.
Approximately $117,000 for 2014 Ad
Valorem taxes was deducted from this month's distribution as
compared to $104,000 this time last
year. These payments are normal expenditures at this time of
year.
The 2014 tax information packets are expected to begin mailing
directly to unitholders in early March 2015. A copy of
Sabine's 2014 tax information
booklet will be posted on Sabine's
website by March 1, 2015. 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 2014 tax information by February 15, 2015.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-february-300030384.html
SOURCE Southwest Bank