DALLAS, March 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 $0.44414 per
unit, payable on March 30, 2015, to
unit holders of record on March 16,
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
December 2014 and the gas production
for November 2014. Preliminary production volumes are
approximately 50,515 barrels of oil and 545,313 Mcf of gas.
Preliminary prices are approximately $85.44 per barrel of oil and $5.24 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
|
|
50,515
|
|
545,313
|
|
$85.44
|
|
$5.24
|
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
32,957
|
|
747,796
|
|
$73.77
|
|
$3.19
|
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 February and the
transition to new systems, approximately $697,186 of revenue received will be posted in
the following month of March in addition to normal receipts during
March. Since the close of business in February and prior to this
press release, approximately $112,000
revenue has been received.
The 2014 tax information packets are expected to begin mailing
directly to unitholders this week. A copy of Sabine's 2014 tax information booklet is
posted on Sabine's website.
In addition to the tax booklet the Sabine website also offers two simple
calculators for computing the income and expense amounts and the
cost depletion. The calculators are updated with the 2014 tax
information.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-march-300045042.html
SOURCE Sabine Royalty Trust