Current Report Filing (8-k)
December 07 2015 - 3:30PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 3, 2015
SABINE ROYALTY TRUST
(Exact name of Registrant as specified in its charter)
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Texas |
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1-8424 |
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75-6297143 |
(State or other jurisdiction of
incorporation or organization) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
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Southwest Bank
P. O. Box 962020 Fort
Worth, Texas |
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76162 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants Telephone Number, including area code: (855) 588-7839
Not Applicable
(Former
name, former address and former fiscal year, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. |
Results of Operations and Financial Condition. |
On December 3, 2015, the Registrant
issued a press release announcing its monthly cash distribution to unitholders of record on December 15, 2015. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This Report on Form 8-K is being furnished pursuant to Item 2.02, Results of Operations and Financial Condition. The information
furnished is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended.
Item 9.01. |
Financial Statements and Exhibits. |
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99.1 |
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Press Release dated December 3, 2015. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
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SABINE ROYALTY TRUST
By: SOUTHWEST BANK, TRUSTEE |
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By: |
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/s/ RON E. HOOPER |
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Ron E. Hooper |
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SVP Royalty Trust Management |
Date: December 7, 2015
EXHIBIT INDEX
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Exhibit Number |
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Description |
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99.1 |
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Press Release dated December 3, 2015. |
Exhibit 99.1
Sabine Royalty Trust
News Release
SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR DECEMBER
Dallas, Texas, December 3, 2015 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 $0.04261 per unit, payable on December 29, 2015, to unit holders of record on December 15, 2015. Sabines 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 September 2015 and the gas production for August 2015. Preliminary production volumes are approximately 25,130 barrels of oil and 350,242 Mcf of gas. Preliminary prices are approximately $46.42
per barrel of oil and $2.78 per Mcf of gas.
The table below compares this months production and prices to the previous
months:
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Net to Trust Sales Volumes |
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Average Price |
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Oil (bbls) |
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Gas (Mcf) |
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Oil (per bbl) |
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Gas (per Mcf) |
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Current Month |
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25,130 |
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350,242 |
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$ |
46.42 |
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$ |
2.78 |
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Prior Month |
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69,195 |
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875,609 |
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$ |
45.22 |
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$ |
2.41 |
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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
November, approximately $998,000 of revenue received will be posted in the following month of December in addition to normal receipts during December. Since the close of business in November and prior to this press release, approximately $1,832,000
revenue has been received.
Approximately $1,039,000 for 2015 Ad Valorem taxes was deducted from this months distribution as
compared to $892,000 in December 2014. These payments are normal expenditures at this time of year.
The 2015 tax information packets are
expected to begin mailing directly to unitholders in early March 2016. A copy of Sabines 2015 tax information booklet will be posted on Sabines website by March 1, 2016. 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 2015 tax information by February 15, 2016.
* * *
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Contact: |
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Ron Hooper |
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SVP, Royalty Trust Services |
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Southwest Bank |
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Toll Free (855) 588-7839 |
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