SABINE ROYALTY TRUST Files Q1 2024 10-Q Report

TL;DR

**Sabine Royalty Trust filed its Q1 2024 10-Q, reporting 14,579,345 units outstanding and trading on the NYSE.**

AI Summary

SABINE ROYALTY TRUST (SBR) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Filed 10-Q for period ending March 31, 2024. Reported 14,579,345 units of beneficial interest outstanding as of May 9, 2024. Registered under the 1934 Securities Exchange Act, Commission File Number 1-8424. Primary listing on New York Stock Exchange under ticker SBR. Incorporated in Texas, with principal executive offices in Dallas, TX.

Why It Matters

For investors and stakeholders tracking SABINE ROYALTY TRUST, this filing contains several important signals. The filing provides a quarterly update on the trust's financial status and operational details, crucial for investors tracking performance in the oil royalty sector. As a large accelerated filer, the trust's consistent reporting adheres to SEC regulations, ensuring transparency for stakeholders.

Risk Assessment

Risk Level: SBR — SABINE ROYALTY TRUST shows moderate risk based on this filing. The filing is a standard quarterly report with no immediate red flags, indicating routine operational disclosure.

Analyst Insight

Monitor future filings for detailed financial performance and operational updates relevant to oil royalty interests.

Key Numbers

• 14,579,345 — Units Outstanding (As of May 09, 2024)
• 2024-03-31 — Quarterly Period End (CONFORMED PERIOD OF REPORT)
• 0000950170-24-056580 — Accession Number (SEC Filing Identifier)
• 1-8424 — SEC File Number (Registrant's SEC File Number)

Key Players & Entities

• SABINE ROYALTY TRUST (company) — COMPANY CONFORMED NAME
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 0000950170-24-056580 (filing) — ACCESSION NUMBER
• 14,579,345 (dollar_amount) — Number of units of beneficial interest outstanding
• New York Stock Exchange (company) — Name of each exchange on which registered
• SBR (company) — Trading Symbol(s)
• 2024-05-09 (date) — FILED AS OF DATE
• Texas (location) — STATE OF INCORPORATION

FAQ

Risk Factors

• Filing Requirements [low — regulatory]: The registrant is required to file all reports by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.
• Interactive Data File Submission [low — regulatory]: The registrant must submit electronically every Interactive Data File required by Rule 405 of Regulation S-T.

Industry Context

Sabine Royalty Trust operates in the oil royalty sector, deriving income from oil and gas production.

Regulatory Implications

The filing adheres to the requirements of the Securities Exchange Act of 1934, specifically Section 13 or 15(d), and Rule 405 of Regulation S-T for electronic data submission.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Monitor future SEC filings for updates on production volumes and commodity prices impacting royalty income.
3. Analyze the trust's unit performance against market trends in the energy sector.

Key Dates

• 2024-03-31: Quarterly Period End — Indicates the end date for the financial reporting period covered by the 10-Q.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the quarterly period ending March 31, 2024, following the reporting cycle.

Key Financial Figures

• $23,304,842 — rties (less accumulated amortization of $23,304,842 and $22,299,783 at March 31, 2024 and D
• $22,299,783 — mulated amortization of $23,304,842 and $22,299,783 at March 31, 2024 and December 31, 2023

Filing Documents

• sbr_10-q_2024-03-31.htm (10-Q) — 272KB
• sbr-ex31.htm (EX-31) — 15KB
• sbr-ex32.htm (EX-32) — 7KB
• 0000950170-24-056580.txt ( ) — 295KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3

Trustee’s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Trustee’s Discussion and Analysis of Financial Condition and Results of Operations 12

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 14

Controls and Procedures

Item 4. Controls and Procedures 14

— OTHER INFORMATION

PART II — OTHER INFORMATION 15

Legal Proceedings

Item 1. Legal Proceedings 15

Risk Factors

Item 1A. Risk Factors 15

Other Information

Item 5. Other Information 15

Exhibits

Item 6. Exhibits 15

SIGNATURES

SIGNATURES 16 EX-31 EX-32 Table of Contents SABINE ROYALTY TRUST

— FIN ANCIAL INFORMATION

PART I — FIN ANCIAL INFORMATION It em 1. Financial Statements. The condensed financial statements included herein have been prepared by Argent Trust Company, as Trustee (the “Trustee”) of Sabine Royalty Trust (the “Trust”), pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted pursuant to such rules and regulations, although the Trustee believes that the disclosures are adequate to make the information presented not misleading. The condensed financial statements of the Trust presented herein are unaudited. It is suggested that these condensed financial statements and notes thereto be read in conjunction with the financial statements and notes thereto included in the Trust’s latest annual report on Form 10-K. The December 31, 2023 condensed statement of assets, liabilities and trust corpus is derived from the audited statement of assets, liabilities and trust corpus as of that date. In the opinion of the Trustee, all adjustments necessary to present fairly the assets, liabilities and trust corpus of the Trust as of March 31, 2024, and the distributable income and the changes in trust corpus for the three months ended March 31, 2024 and 2023, have been included. The distributable income for such interim periods is not necessarily indicative of the distributable income for the full year. Unless specified otherwise, all amounts included herein are presented in US dollars. The condensed financial statements as of March 31, 2024, and for the three-month periods ended March 31, 2024 and 2023, included herein, have been reviewed by Weaver and Tidwell, L.L.P., an independent registered public accounting firm, as stated in their report appearing herein. Page Report of Independent Registered Public Accounting Firm (PCAOB ID Number 410) 4 Condensed Statements of Assets, Lia

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View this 10-Q filing on SEC EDGAR