SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR SEPTEMBER 2024

Distribution Announcement - Argent Trust Company declared a cash distribution of $0.421310 per unit for the Sabine Royalty Trust, payable on September 30, 2024, to unit holders of record on September 16, 2024 [1] Production and Revenue Details - The distribution reflects oil production for June 2024 and gas production for May 2024, with preliminary production volumes of approximately 64,743 barrels of oil and 1,359,603 Mcf of gas [2] - The average prices for the current month are approximately $78.14 per barrel of oil and $1.52 per Mcf of gas [2] Comparison with Previous Month - The current month's distribution is lower than the previous month due to a decrease in oil production, despite an increase in the prices of both oil and natural gas, and an increase in natural gas production [3] - Current month production and prices compared to the prior month: - Oil: 64,743 bbls (current) vs. 76,461 bbls (prior) - Gas: 1,359,603 Mcf (current) vs. 1,346,957 Mcf (prior) - Oil price: $78.14 per bbl (current) vs. $77.48 per bbl (prior) - Gas price: $1.52 per Mcf (current) vs. $1.20 per Mcf (prior) [3] Revenue Posting Timing - Revenues are distributed after being received, verified, and posted, with most energy companies issuing royalty payments around the 25th of each month [4] - Approximately $89,000 of revenue received in August will be posted in September, in addition to normal cash receipts for that month [5] - As of the press release, approximately $302,000 in revenue has been received since the close of business in August [5]