SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR JUNE 2022

DALLAS, June 3, 2022 /PRNewswire/ — Simmons Bankas trustee of Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to holders of its beneficial interest units of $0.719500 per unit, payable on June 29, 2022to unitholders of record on June 15, 2022. Sabine’s cash distribution history, current and prior year financial reports and tax information brochures, a link to Securities and Exchange Commission filings and more can be found on its website at http://www.sbr-sabine.com/. In addition, printed reports can be requested and are mailed free of charge.

This breakdown primarily reflects oil production for March 2022 and the production of gas for February 2022. Preliminary production volumes are approximately 64,786 barrels of oil and 1,037,379 Mcf of gas. Preliminary prices are approximately $94.63 per barrel of oil and $5.19 per Mcf of gas.

This month’s distribution is higher than the previous month due to increased oil production and oil and gas prices.

Production from new horizontal gas wells in Panola County, Texascontributed approximately $990,000 reflecting February production. They averaged about 809 Mcf per day per well in February, totaling more than 182,000 Mcf during this period with an average price of $5.85 by Mcf. In addition to these products, the 8 additional new wells that were paid for the month of February, contributing approximately $260,000reflecting an average of 230 Mcf per well, per day.

In addition, 3 other new horizontal wells, also in Panola Countywere paid by another operator for the month of production for March 2022 resulting in approximately 150,000 Mcf of gas, with an average of 1,616 Mcf of gas per well, per day and a net income for the trust of approximately $735,000 for this month’s distribution.

As more regular monthly receipts are made in the coming months, additional information will be made available.

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



Net to Trust Sales





volumes


Average price



Oil (bbl)


Gas (Mcf)


Oil

(per barrel)


Gas

(by Mcf)










Current month


64,786


1,037,379


$94.63


$5.19










Last month


47,602


1,374,858


$87.42


$4.26










Revenues are only distributed after they have been received, verified and posted. Most energy companies normally issue royalty payments on or about the 25e of each month, and depending on the delivery of the mail, a variable amount of fees is collected only after the recording of receipts on the last working day of the month. Revenue received after this date will be posted within 30 days of receipt.

Due to the timing of the end of May, approx. $2,264,000 revenue received will be posted the following June in addition to normal revenue during the month of June. Since the close of business in May and prior to this press release, $2,211,000 revenue has been received.

Sabine Royalty Trust, as it does after the end of each year, has had a year-end reserve report prepared in accordance with the requirements of the Securities and Exchange Commission. This report provides an assessment of the estimated value of the asset at the 31st of December of each year, which can be used to estimate the remaining life of the Trust.

The estimated net proved reserves, at January 1, 2022attributable to the Trust of appraised properties are approximately 6.0 million barrels of oil and 42.8 billion cubic feet of gas with a future net worth of approximately $470,140,000 with a discounted value of 10% of $207,703,000. With these estimated quantities of this year’s reserves of 6.0 million barrels of oil and 42.8 billion cubic feet of gas remaining, one could estimate that the Trust still has a lifespan of 8 to 10 years. The report is an attachment to the Trust’s Annual Report on Form 10-K which was filed on March 25, 2022 and is currently available to all Unitholders on the SEC’s website and on Sabine’s website.

The 2021 Annual Report with Form 10-K and January 1, 2022 The summary of reservations has been published on Sabine’s website at http://www.sbr-sabine.com/.

SOURCE Sabine Royalty Trust

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