DALLAS, April 6, 2023 /PRNewswire/ -- 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 $0.699540 per unit, payable on April 28, 2023, to unit holders of record on April 17, 2023. 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/. Additionally, printed reports can be requested and are mailed free of charge.
This distribution reflects primarily the oil production for January 2023 and the gas production for December 2022. Preliminary production volumes are approximately 68,608 barrels of oil and 1,259,109 Mcf of gas. Preliminary prices are approximately $80.65 per barrel of oil and $4.71 per Mcf of gas.
This month's distribution is higher than the previous month's primarily due to increased production due to the timing of receipts through the end of the month as compared to the previous month's timing of receipts, including an increase in oil pricing.
The production from all the new horizontal gas wells in Panola County, Texas, has contributed approximately $1,642,812 reflecting December production including the recent new wells. All volumes and pricing are included in the tables below.
Additionally, for the other three horizontal wells, also in Panola County, there were two months receipts totaling $544,000 posted for this month's distribution.
As more regular monthly receipts are made in the months to come, additional information will be made available.
The table below compares this month's production and prices to the previous month's:
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