Sabine Royalty Trust Q1 income drops 28% on sharp production declines; oil nears $100/bbl

Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~1 min read

Key Changes

• high

  Distributable income fell 28% YoY to $0.89/unit from $1.24/unit, driven by 34% oil production decline (139k vs 212k barrels) and 27% gas production drop (2.8M vs 3.9M Mcf), indicating significant depletion or reduced drilling activity.

  MD&A: Distributable Income & Production Volumes verify on EDGAR →
• high

  Royalty income declined 27% to $14.2M from $19.4M, with $7.0M attributable to lower production volumes and $0.5M to weaker oil prices, partially offset by $2.3M gain from higher natural gas prices.

  MD&A: Royalty Income verify on EDGAR →
• high

  Spot oil prices surged 58% to $99.89/barrel as of late April 2026 (vs $63.30 in April 2025), driven by geopolitical tensions and supply disruptions, potentially boosting future royalty income if sustained.

  MD&A: Commodity Prices verify on EDGAR →