Sabine Royalty Trust Nov distribution $0.356720/unit; lower oil/gas pricing, higher ad valorem taxes

SABINE ROYALTY TRUST

Cash distribution $0.356720 per unit, payable Nov 28, 2025, record Nov 17, 2025.
Preliminary volumes: 65,727 bbl oil, 1,135,345 Mcf gas; oil $63.80/bbl, gas $2.55/Mcf.
Distribution lower due to decreased oil/gas prices and $942k ad valorem tax deduction (vs $167k last year).
Oil production up from 48,527 bbl prior month; gas production up from 1,111,528 Mcf.

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