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): November 3, 2017

SABINE ROYALTY TRUST

(Exact name of Registrant as specified in its charter)

Texas (State or other jurisdiction of incorporation or organization)	1-8424 (Commission File Number)	75-6297143 (I.R.S. Employer Identification No.)
Southwest Bank P. O. Box 962020 Fort Worth, Texas (Address of principal executive offices)		76162 (Zip Code)

Registrant’s Telephone Number, including area code: (855) 588-7839

Not Applicable

(Former name, former address and former fiscal year, 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 (see General Instruction A.2.):

☐ 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))

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 November 3, 2017, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on November 15, 2017. 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 November 3, 2017.

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 thereunto duly authorized.

SABINE ROYALTY TRUST
By: SOUTHWEST BANK, TRUSTEE
	By:	/s/ RON E. HOOPER
		Ron E. Hooper
		SVP Royalty Trust Management

Date: November 3, 2017

EX-99.1

Exhibit 99.1

Sabine Royalty Trust

News Release            

SABINE ROYALTY TRUST ANNOUNCES

MONTHLY CASH DISTRIBUTION FOR NOVEMBER 2017

Dallas, Texas, November 3, 2017 – 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 $0.157150 per unit, payable on November 29, 2017, to unit holders of record on November 15, 2017. 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 August 2017 and the gas production for July 2017. Preliminary production volumes are approximately 43,333 barrels of oil and 497,443 Mcf of gas. Preliminary prices are approximately $45.89 per barrel of oil and $2.80 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		43,333		497,443	$	45.89	$	2.80
Prior Month		36,341		365,524	$	43.95	$	2.97

Revenues are only posted and distributed when they are received. Most energy companies normally issue payment of royalties on or about the 25^th 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 October, approximately $1,598,000 of revenue received will be posted in the following month of November in addition to normal receipts during November. Since the close of business in October and prior to this press release, approximately $217,000 in revenue has been received.

Approximately $604,000 for 2017 Ad Valorem taxes was deducted from this month’s distribution as compared to $558,000 this time last year. These payments are normal expenditures at this time of year.

The 2017 tax information packets are expected to begin mailing directly to unitholders in early March 2018. A copy of Sabine’s 2017 tax information booklet will be posted on Sabine’s website by March 1, 2018. In addition to the tax booklet the Sabine website will also offer two simple calculators for computing the income and expense amounts and the cost depletion. The calculators are currently expected to be updated with the 2017 tax information by February 19, 2018.

The January 1, 2017 Reserve Summary has now been posted on the Sabine website at http://www.sbr-sabine.com/.

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Contact: Ron Hooper

SVP, Royalty Trust Services

Southwest Bank

Toll Free (855) 588-7839