DALLAS, Jan. 5, 2016 /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 $0.27597 per unit,
payable on January 29, 2016, to unit
holders of record on January 15,
2016. 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
October 2015 and the gas production
for September 2015. Preliminary production volumes are
approximately 69,889 barrels of oil and 703,025 Mcf of gas.
Preliminary prices are approximately $44.27 per barrel of oil and $2.67 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
|
|
69,889
|
|
703,025
|
|
$44.27
|
|
$2.67
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
25,130
|
|
350,242
|
|
$46.42
|
|
$2.78
|
|
|
|
|
|
|
|
|
|
|
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 December,
approximately $753,000 of revenue
received will be posted in the following month of January in
addition to normal receipts during January. Since the close of
business in December and prior to this press release, approximately
$25,000 revenue has been
received.
Approximately $224,000 for 2015 Ad
Valorem taxes was deducted from this month's distribution as
compared to $941,000 for this time
last year. 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 Sabine's
2015 tax information booklet will be posted on Sabine's 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-january-300199008.html
SOURCE Sabine Royalty Trust