$0.331680 per unit is Sabine Royalty Trust's (NYSE: SBR) September 2026 monthly cash distribution, declared September 4 out of Dallas, Texas by Argent Trust Company as trustee and payable September 29 to holders of record on September 15. Oil volumes fell 45% from the prior month and per-barrel pricing retreated $19.33; natural gas pricing gained $0.12 per Mcf but could not offset the combined volume and oil-price drag.
Volume and price: the comparison
The distribution reflects June 2026 oil production and May 2026 gas production, which Sabine designates as current production. Under the trust's accounting, sales volumes are recorded in the month royalty income is received and identified, so the production periods recognized in any given distribution depend on when collections arrive. Oil net to the trust came in at 39,647 barrels at $79.10 per barrel, against 72,119 barrels at $98.43 in the prior month. Gas ran at 1,094,091 Mcf at $2.33 per Mcf, down from 1,408,574 Mcf at $2.21. All volumes are preliminary.
| Current month | Prior month | |
|---|---|---|
| Oil (bbls) | 39,647 | 72,119 |
| Gas (Mcf) | 1,094,091 | 1,408,574 |
| Oil (per bbl) | $79.10 | $98.43 |
| Gas (per Mcf) | $2.33 | $2.21 |
The oil volume shortfall runs to 32,472 barrels, a 45% QoQ contraction. Gas volumes fell 314,483 Mcf, roughly 22% QoQ. Per-unit oil revenue took the larger hit: volume and price moved lower together. Argent Trust cited the production declines and lower oil pricing as the primary drivers, with natural gas pricing providing only partial relief.
Revenue timing and carryover
Most energy companies issue royalty payments on or about the 25th of each month; mail timing and month-end cutoffs can delay some receipts past the posting deadline. Approximately $199,000 received after August's close will post in September alongside normal September inflows. Since the close of August business and prior to the September 4 announcement, approximately $1,141,000 in additional royalty revenue has been collected. Both amounts will appear in a subsequent distribution, not the September 29 payment. Sabine's 2025 Annual Report, with Form 10-K and the December 31, 2025 Reserve Summary, is available at sbr-sabine.com.