SBR 8-K
Sabine Royalty Trust (SBR)
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): September 6, 2024 |
SABINE ROYALTY TRUST
(Exact name of Registrant as Specified in Its Charter)
Texas |
001-08424 |
75-6297143 |
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(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
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Argent Trust Company 3838 Oak Lawn Ave Suite 1720 |
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Dallas, Texas |
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75219-4518 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
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Registrant’s Telephone Number, Including Area Code: 855 588-7839 |
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(Former Name or Former Address, 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:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Units of Beneficial Interest |
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SBR |
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New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On September 6, 2024, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on September 16, 2024. 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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d. |
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Exhibits |
99.1 |
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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 hereunto duly authorized.
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SABINE ROYALTY TRUST |
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By: ARGENT TRUST COMPANY, TRUSTEE |
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Date: |
September 6, 2024 |
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By: |
/s/ NANCY WILLIS |
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Nancy Willis Director of Royalty Trust Services |
Exhibit 99.1
Sabine Royalty Trust
News Release
SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR SEPTEMBER 2024
Dallas, Texas, September 6, 2024 – Argent Trust Company, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.421310 per unit, payable on September 30, 2024, to unit holders of record on September 16, 2024. 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, which has recently been updated with a new look, at http://www.sbr-sabine.com/. Additionally, printed reports can be requested and are mailed free of charge.
This distribution reflects primarily the oil production for June 2024 and the gas production for May 2024, which is considered current production. Preliminary production volumes are approximately 64,743 barrels of oil and 1,359,603 Mcf of gas. Preliminary prices are approximately $78.14 per barrel of oil and $1.52 per Mcf of gas.
This month’s distribution is lower than the previous month’s primarily due to a decrease in oil production, partially offset by an increase in the price of both oil and natural gas and an increase in natural gas production.
The table below compares this month’s production and prices to the previous month’s:
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Net to Trust Sales |
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Volumes (a) |
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Average Price (a) |
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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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64,743 |
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1,359,603 |
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$78.14 |
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$1.52 |
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Prior Month |
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76,461 |
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1,346,957 |
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$77.48 |
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$1.20 |
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Revenues are only distributed after they are received, verified, and posted. 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 August, approximately $89,000 of revenue received will be posted in the following month of September, in addition to normal cash receipts received during September. Since the close of business in August and prior to this press release, approximately $302,000 in revenue has been received.
The 2023 Annual Report with Form 10-K and the January 1, 2024 Reserve Summary are available on the Sabine website at http://www.sbr-sabine.com/.
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Contact: Nancy Willis – Director of Royalty Trust Services
Argent Trust Company
Toll Free (855) 588-7839