SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR OCTOBER
Dallas, Texas, October 3, 2014 - 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 $0.46947 per unit, payable on October 29, 2014, to unit holders of record on October 15, 2014. 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-sabineroyalty.com/.
This distribution reflects primarily the oil production for July 2014 and the gas production for June 2014. Preliminary production volumes are approximately 46,103 barrels of oil and 772,536 Mcf of gas. Preliminary prices are approximately $95.39 per barrel of oil and $4.08 per Mcf of gas.
The table below compares this month's production and prices to the previous month's:
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 September and the transition to new systems, approximately $1,729,207 of revenue received will be posted in the following month of October in addition to normal receipts during October. Since the close of business in September and prior to this press release, approximately $641,000 revenue has been received.
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SVP, Royalty Trust Services