Thu, Feb 27, 9:16 PM (58 days ago)
**Sabine Royalty Trust (SBR) 2024 10-K Summary** For the fiscal year ended December 31, 2024, Sabine Royalty Trust reported a decrease in royalty income to approximately $82.57 million, down 11% from $93.01 million in 2023. This decline was attributed to lower oil and gas prices, which averaged $77.04 per barrel for oil and $1.88 per Mcf for natural gas, compared to $79.60 and $3.52 in 2023, respectively. Distributable income for 2024 was $79.64 million, translating to $5.46 per unit, reflecting a decrease in revenue impacted by inflation and geopolitical uncertainty. Operating expenses remained stable at approximately $3.53 million. The Trust's assets consist solely of royalty interests across multiple states, with proved developed reserves increasing to 8.87 million barrels of oil equivalent (BOE). The present value of future net revenue from these reserves was estimated at $280.33 million, up from $257.55 million in 2023, primarily due to increased production volumes. Key risks include fluctuating commodity prices, regulatory changes, and operational dependencies on third-party operators. The Trust's financial condition remains stable, with no anticipated borrowings, relying on royalty income for distributions. The Trust's future outlook is cautious, given the volatile energy market and potential impacts from climate policies.