EX-99.1 2 d921585dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Sabine Royalty Trust

 

 

 

News Release

 

SABINE ROYALTY TRUST ANNOUNCES

MONTHLY CASH DISTRIBUTION FOR MAY

Dallas, Texas, May 5, 2015 – 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 $0.22925 per unit, payable on May 29, 2015, to unit holders of record on May 15, 2015. 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-sabine.com/.

This distribution reflects primarily the oil production for February 2015 and the gas production for January 2015. Preliminary production volumes are approximately 37,318 barrels of oil and 772,469 Mcf of gas. Preliminary prices are approximately $42.92 per barrel of oil and $3.46 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
(bbls)		      Gas
(Mcf)		      Oil
(per bbl)		      Gas
(per Mcf)		  

Current Month

      37,318         772,469       $ 42.92       $ 3.46   

Prior Month

      51,558         581,515       $ 48.36       $ 3.65   

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 April and the transition to new systems, approximately $642,000 of revenue received will be posted in the following month of May in addition to normal receipts during May. Since the close of business in April and prior to this press release, approximately $1,583,000 revenue has been received.

*        *        *

Contact:          Ron Hooper

                       SVP, Royalty Trust Services

                        Southwest Bank

                       Toll Free (855) 588-7839