San Juan Basin Royalty Trust Declares April Cash Distribution
April 18 2019 - 9:00AM
Business Wire
Compass Bank, as Trustee of the San Juan Basin Royalty Trust
(the “Trust”) (NYSE:SJT), today declared a monthly cash
distribution to the holders of its Units of beneficial interest
(the “Unit Holders”) of $744,246.43 or $0.015968 per Unit, based
primarily upon production during the month of February 2019,
subject to certain adjustments by the operator of the Trust’s
subject interests, Hilcorp San Juan L.P. (“Hilcorp”), for prior
months. The distribution is payable May 14, 2019, to Unit Holders
of record as of April 30, 2019.
Based upon information provided to the Trust by Hilcorp, gas
production for the subject interests totaled 2,404,977 Mcf
(2,672,196 MMBtu) for February 2019, as compared to 2,421,934 Mcf
(2,691,038 MMBtu) for January 2019. Dividing revenues by production
volume yielded an average gas price for February 2019 of $1.85 per
Mcf ($1.66 per MMBtu), as compared to an average gas price for
January 2019 of $2.78 per Mcf ($2.51 per MMBtu).
For the reporting month of February 2019, Hilcorp has advised
the Trust that revenue included an estimate of $169,000 for
non-operated revenue. For the month ended February 2019, Hilcorp
reported to the Trust capital costs of $569,556, lease operating
expenses and property taxes of $2,228,633 and severance taxes of
$574,334.
Hilcorp has informed the Trust that this month’s distribution
includes a true-up of oil and gas production from the January 2019
production month resulting in an approximately $608,000 reduction
in gross proceeds.
Except for historical information contained in this news
release, the statements in this news release are forward-looking
statements that are made pursuant to the Safe Harbor Provisions of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements generally are accompanied by words such
as “estimates,” “anticipates,” “could,” “plan,” or other words that
convey the uncertainty of future events or outcomes.
Forward-looking statements and the business prospects of San Juan
Basin Royalty Trust are subject to a number of risks and
uncertainties that may cause actual results in future periods to
differ materially from the forward-looking statements. These risks
and uncertainties include, among other things, certain information
provided to the Trust by Hilcorp, volatility of oil and gas prices,
governmental regulation or action, litigation, and uncertainties
about estimates of reserves. These and other risks are described in
the Trust’s reports and other filings with the Securities and
Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20190418005064/en/
San Juan Basin Royalty TrustCompass Bank, Trusteewebsite:
www.sjbrt.com e-mail: sjt.us@bbva.co
Joshua R. Peterson, Senior Vice President & Trust
OfficerKaye Wilke, Investor Relations, toll-free: (866)
809-4553
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