0001193125-20-001302.txt : 20200103 0001193125-20-001302.hdr.sgml : 20200103 20200103144932 ACCESSION NUMBER: 0001193125-20-001302 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200103 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200103 DATE AS OF CHANGE: 20200103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SABINE ROYALTY TRUST CENTRAL INDEX KEY: 0000710752 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] 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: 20504742 BUSINESS ADDRESS: STREET 1: PO BOX 830650 CITY: DALLAS STATE: TX ZIP: 75283-0650 BUSINESS PHONE: 2145082400 MAIL ADDRESS: STREET 1: PO BOX 830650 CITY: DALLAS STATE: TX ZIP: 75283-0650 8-K 1 d844924d8k.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): January 3, 2020

 

 

SABINE ROYALTY TRUST

(Exact name of Registrant as specified in its charter)

 

 

 

Texas   1-8424   75-6297143

(State or other jurisdiction

of incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

Simmons Bank

Park Place

2911 Turtle Creek Blvd

Suite 850

Dallas, Texas

  75219
(Address of principal executive offices)  

(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))

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 January 3, 2020, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on January 29, 2020. 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 January 3, 2020.


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:   SIMMONS BANK, TRUSTEE
By:  

/s/ RON E. HOOPER

  Ron E. Hooper
  SVP Royalty Trust Management

Date: January 3, 2020

 

EX-99.1 2 d844924dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Sabine Royalty Trust

News Release        

SABINE ROYALTY TRUST ANNOUNCES

MONTHLY CASH DISTRIBUTION FOR JANUARY 2020

Dallas, Texas, January 3, 2020 – Simmons 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 $0.303290 per unit, payable on January 29, 2020, to unit holders of record on January 15, 2020. 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 October 2019 and the gas production for September 2019. Preliminary production volumes are approximately 69,962 barrels of oil and 686,120 Mcf of gas. Preliminary prices are approximately $54.09 per barrel of oil and $1.94 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

     69,962        686,120      $ 54.09      $ 1.94  

Prior Month

     44,903        545,490      $ 55.09      $ 1.70  

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 December, approximately $1,088,182 of revenue received will be posted in the following month of January in addition to normal receipts during January. Since the close of business in December and prior to this press release, approximately $1,942,100 in revenue has been received.

Approximately $142,000 for 2019 Ad Valorem taxes was deducted from this month’s distribution as compared to $355,000 this time last year. These payments are normal expenditures at this time of year.

The 2019 tax information packets are expected to begin mailing directly to unitholders in early March 2020. A copy of Sabine’s 2019 tax information booklet will be posted on Sabine’s website by March 1, 2020. 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 2019 tax information by February 24, 2020.

The 2018 Annual Report with Form 10-K with the January 1, 2019 Reserve Summary and current 2019 quarterly reports are now available on Sabine website at http://www.sbr-sabine.com/.

*    *    *

 

Contact:    Ron Hooper
   SVP, Royalty Trust Services
   Simmons Bank
   Toll Free (855) 588-7839