As of September 30, 2024, Sabine Royalty Trust reported a decrease in cash and short-term investments, totaling $8.67 million, down from $9.34 million at the end of 2023. Total assets also declined to $8.75 million from $9.44 million. However, trust expenses payable saw a significant reduction to $215,830 from $508,489, and total liabilities decreased sharply to $222,013 from $878,919. The trust corpus, representing the units of beneficial interest, was $8.52 million, slightly down from $8.56 million at the end of 2023.

In terms of revenue, the trust experienced a notable increase in royalty income for the three months ended September 30, 2024, amounting to $19.78 million, compared to $14.36 million for the same period in 2023, marking a 38% increase. Total income for the quarter rose to $19.93 million from $14.49 million year-over-year. Distributable income also increased to $19.07 million, or $1.31 per unit, compared to $13.73 million, or $0.94 per unit, in the prior year.

For the nine months ended September 30, 2024, royalty income reached $63.15 million, up from $58.93 million in 2023, while total income increased to $63.62 million from $59.46 million. Distributable income for this period was $61.07 million, compared to $56.70 million in the previous year, resulting in a per unit increase from $3.89 to $4.19.

The increase in royalty income for the third quarter was attributed to higher oil and natural gas production, which contributed $6.3 million, and increased oil prices, adding $0.8 million. These gains were partially offset by a decrease in natural gas prices and increased production taxes, operating expenses, and ad valorem taxes. In contrast, royalty income for Q3 2024 decreased by 12% compared to Q2 2024, primarily due to lower production and prices.

Production data indicated that oil production for Q3 2024 was 140,084 barrels, down from 220,438 barrels in Q2 2024, while gas production also decreased. The average realized oil price for Q3 2024 was $71.83 per barrel, a decline from $78.89 in Q2 2024.

General and administrative expenses for Q3 2024 increased by approximately $93,700 compared to Q3 2023, primarily due to higher unitholder and professional services costs. However, for the nine-month period, these expenses decreased by about $209,000 compared to the same timeframe in 2023.

Overall, the trust's financial performance reflects a mix of increased revenues and reduced expenses, alongside fluctuations in production and pricing dynamics in the oil and gas market.