Tue, Nov 12, 5:48 PM (62 days ago)
For the quarter ending September 30, 2024, Sabine Royalty Trust (SBR) reported significant improvements in financial performance compared to the same period in 2023. Distributable income rose to $19,070,466, or $1.31 per unit, a 39% increase from $13,727,461 in Q3 2023, primarily driven by a 38% increase in royalty income to $19,784,478 due to higher oil and gas production. However, this represents a 12% decline from the previous quarter, attributed to reduced production and lower commodity prices. Total assets decreased to $8,746,247 from $9,437,825 at year-end 2023, while liabilities fell significantly to $222,013. The Trust’s cash flow dynamics remain sensitive to commodity price fluctuations, which are influenced by geopolitical events and market conditions. The average realized prices for oil and gas were $77.55 per barrel and $1.52 per Mcf, respectively. General and administrative expenses increased to $859,880, driven by timing of payments for services. The Trust continues to maintain a strategy of monthly distributions, with a focus on liquidity and capital resource management. Future operations may be impacted by ongoing volatility in commodity prices and production levels.