DALLAS, May 4, 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 $0.16435 per unit,
payable on May 27, 2016, to unit
holders of record on May 16,
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
February 2016 and the gas production
for January 2016. Preliminary production volumes are
approximately 42,357 barrels of oil and 602,962 Mcf of gas.
Preliminary prices are approximately $32.62 per barrel of oil and $2.65 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
|
|
42,357
|
|
602,962
|
|
$32.62
|
|
$2.65
|
|
|
|
|
|
|
|
|
|
Prior
Month
|
|
51,767
|
|
479,991
|
|
$30.51
|
|
$2.11
|
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 April,
approximately $439,000 of revenue
received will be posted in the following month of May in addition
to normal receipts during May. Since the close of business in
April and prior to this press release, approximately $64,000 in revenue has been received.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sabine-royalty-trust-announces-monthly-cash-distribution-for-may-2016-300262238.html
SOURCE Sabine Royalty Trust