San Juan Basin Royalty Trust Declares December Cash Distribution
December 19 2018 - 2:21PM
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 $1,125,838.13 or $0.024155 per Unit, based
primarily upon production during the month of October 2018, 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 January 15, 2019, to Unit Holders of record
as of December 31, 2018.
Based upon information provided to the Trust by Hilcorp, gas
production for the subject interests totaled 2,568,161 Mcf
(2,853,512 MMBtu) for October 2018, as compared to 2,444,542 Mcf
(2,716,158 MMBtu) for September 2018. Dividing revenues by
production volume yielded an average gas price for October 2018 of
$2.08 per Mcf ($1.88 per MMBtu), as compared to an average gas
price for September 2018 of $2.21 per Mcf ($1.99 per MMBtu).
Hilcorp has advised the Trust that for the reporting month of
October 2018, oil and gas production was accrued based on actual
production volumes, including an estimate of $169,000 for
non-operated revenue. For the month ended October 2018, Hilcorp
reported to the Trust capital costs of $794,463, lease operating
expenses and property taxes of $2,605,778 and severance taxes of
$617,463.
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/20181220005039/en/
San Juan Basin Royalty Trust Compass Bank, Trustee website:
www.sjbrt.com e-mail: sjt.us@bbva.com
Joshua R. Peterson, Senior Vice President & Trust Officer
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
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