Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - SABINE ROYALTY TRUST | d84950e8vk.htm |
Exhibit 99.1
Sabine Royalty Trust
SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR OCTOBER
MONTHLY CASH DISTRIBUTION FOR OCTOBER
Dallas, Texas, October 4, 2011 — Sabine Royalty Trust (NYSE: SBR), today declared a cash
distribution to the holders of its units of beneficial interest of $0.35272 per unit, payable on
October 31, 2011, to unit holders of record on October 17, 2011. 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 http://www.sbr-sabineroyalty.com/.
This distribution reflects primarily the oil production for July 2011 and the gas production
for June 2011. Preliminary production volumes are approximately 33,918 barrels of oil and 547,604
Mcf of gas. Preliminary average prices are approximately $88.88 per barrel of oil and $5.03 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 (bbls) | Gas (Mcf) | (per bbl) | (per Mcf) | |||||||||||||
Current Month |
33,918 | 547,604 | $ | 88.88 | $ | 5.03 | ||||||||||
Prior Month |
38,316 | 602,064 | $ | 90.98 | $ | 4.51 | ||||||||||
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, approximately $187,000 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
$970,000 in revenue has been received.
* * *
| Contact: | Ron E. Hooper Senior Vice President U.S. Trust, Bank of America Private Wealth Management, Trustee Toll Free Number: 1.800.365.6541 |