/PRNewswire-FirstCall/ -- Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of
per unit, payable on
February 26, 2010
, to unit holders of record on
February 16, 2010
. Sabine's cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at
This distribution reflects primarily the oil production for
and the gas production for
, both including postings from the previous month's production. Preliminary production volumes are approximately 38,237 barrels of oil and 486,557 Mcf of gas. Preliminary average prices are approximately
per barrel of oil and
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 Gas Oil Gas
(bbls) (Mcf) (per bbl) (per Mcf)
------ ----- --------- ---------
Current Month 38,237 486,557 $72.35 $4.05
Prior Month 41,226 627,851 $74.62 $3.62
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 January, approximately
of revenue received will be posted in the following month of February in addition to normal receipts during February. Since the close of business in January and prior to this press release, approximately
in revenue has been received.
for 2009 Ad Valorem taxes is being deducted from this month's distribution as compared to
for 2008. These payments are normal expenditures at this time of year.
The 2009 tax information packets are expected to begin mailing directly to unitholders in early, and through, mid-March. A copy of the 2009 Tax Information booklet will be posted on the Trust website by
. A simple cost depletion calculator is also now available on the Trust website for the convenience of unitholders.
SOURCE Sabine Royalty Trust