SABINE ROYALTY TRUST

Sabine Royalty Trust is an oil and gas royalty company that owns and manages non-operating interests in proved and undeveloped properties across the United States. Rather than operating wells directly, the trust holds various forms of passive mineral and royalty interests, including landowner's royalties, overriding royalty interests, production payments, and mineral rights. These interests entitle the trust to receive a share of revenues generated from oil and gas extraction without bearing the operational costs of production.

The company's asset base is concentrated in six primary onshore basins: the Gulf Coast region (Florida, Louisiana, and Mississippi), and the interior United States (New Mexico, Oklahoma, and Texas). Revenue is generated through royalty payments as operators develop and produce from the underlying properties in which Sabine holds interests. The trust structure allows for the distribution of substantially all net income to unitholders.

Sabine Royalty Trust was established in 1982 and maintains its headquarters in Dallas, Texas. As a royalty trust, the company operates with a minimal workforce, as it does not conduct drilling, production, or field operations. The trust's revenue scale and operational footprint are determined by production activity and commodity prices across its portfolio of interests.