0000950170-24-042471.txt : 20240408 0000950170-24-042471.hdr.sgml : 20240408 20240408115832 ACCESSION NUMBER: 0000950170-24-042471 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240405 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240408 DATE AS OF CHANGE: 20240408 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SABINE ROYALTY TRUST CENTRAL INDEX KEY: 0000710752 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 756297143 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08424 FILM NUMBER: 24828730 BUSINESS ADDRESS: STREET 1: C/O ARGENT TRUST COMPANY STREET 2: 3838 OAK LAWN AVE., SUITE 1720 CITY: DALLAS STATE: TX ZIP: 75219-4518 BUSINESS PHONE: 972-919-1360 MAIL ADDRESS: STREET 1: C/O ARGENT TRUST COMPANY STREET 2: 3838 OAK LAWN AVE., SUITE 1720 CITY: DALLAS STATE: TX ZIP: 75219-4518 8-K 1 sabine_8-k_april_2024.htm 8-K 8-K

 

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): April 5, 2024

 

 

SABINE ROYALTY TRUST

(Exact name of Registrant as Specified in Its Charter)

 

 

Texas

001-08424

75-6297143

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

Argent Trust Company

3838 Oak Lawn Ave

Suite 1720

 

Dallas, Texas

 

75219-4518

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 855 588-7839

 

 

(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:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Units of Beneficial Interest

 

SBR

 

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 April 5, 2024, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on April 15, 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.

 

 

 

d.

 

Exhibits

99.1

 

Press Release dated April 5, 2024.


 

 

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.

 

 

SABINE ROYALTY TRUST

 

 

 

 

 

 

 

By: ARGENT TRUST COMPANY, TRUSTEE

 

 

 

 

 

Date:

April 8, 2024

By:

 /s/ NANCY WILLIS

 

 

 

 

Nancy Willis

Director of Royalty Trust Services

 

 EX-99.1 2 sbr-ex99_1.htm EX-99.1 EX-99.1

 

Exhibit 99.1

Sabine Royalty Trust

 

News Release News Release

 

SABINE ROYALTY TRUST ANNOUNCES

MONTHLY CASH DISTRIBUTION FOR APRIL 2024

 

Dallas, Texas, April 5, 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 $0.535500 per unit, payable on April 29, 2024, to unit holders of record on April 15, 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 January 2024 and the gas production for December 2023, which is considered current production. Preliminary production volumes are approximately 64,623 barrels of oil and 1,542,894 Mcf of gas. Preliminary prices are approximately $81.94 per barrel of oil and $2.39 per Mcf of gas.

This month’s distribution is greater than the previous month’s primarily due to an increase in oil and gas production. This was offset somewhat by decreased oil and gas prices.

 

The table below compares this month’s production and prices to the previous month’s:

 

Net to Trust Sales

Volumes (a)

Average Price (a)

Oil
(bbls)

Gas
(per Mcf)

Oil
(per bbl)

Gas
(per Mcf)

Current Month

64,623

1,542,894

$81.94

$2.39

Prior Month

48,104

1,046,545

$89.38

$2.45

(a)
Sales volumes are recorded in the month the Trust receives and identifies the related royalty income. Because of this, sales volumes and pricing may fluctuate from month to month based on the timing of cash receipts.

 

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 March, approximately $297,000 of revenue received will be posted in the following month of April, in addition to normal cash receipts received during April. Since the close of business in March and prior to this press release, approximately $983,000 in revenue has been received.

Approximately $13,000 for 2024 Ad Valorem taxes was deducted from this month’s distribution. These payments are normal expenditures at this time of year.

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/.

* * *

 

Contact:

Nancy Willis – Director of Royalty Trust Services

Argent Trust Company

Toll Free (855) 588-7839