San Juan Basin Royalty Trust Declares February Cash Distribution
February 15 2019 - 09:00AM
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 $2,642,743.13 or $0.056701 per Unit, based
primarily upon production during the month of December 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 March 14, 2019, to Unit Holders
of record as of February 28, 2019.
Based upon information provided to the Trust by Hilcorp, gas
production for the subject interests totaled 2,513,739 Mcf
(2,793,043 MMBtu) for December 2018, as compared to 2,458,241 Mcf
(2,731,379 MMBtu) for November 2018. Dividing revenues by
production volume yielded an average gas price for December 2018 of
$2.66 per Mcf ($2.39 per MMBtu), as compared to an average gas
price for November 2018 of $2.12 per Mcf ($1.91 per MMBtu).
Hilcorp has advised the Trust that for the reporting month of
December 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 December 2018, Hilcorp
reported to the Trust capital costs of $6,493, lease operating
expenses and property taxes of $2,451,140 and severance taxes of
$750,725.
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/20190215005044/en/
San Juan Basin Royalty TrustCompass Bank, Trusteewebsite:
www.sjbrt.com e-mail: sjt.us@bbva.com
Joshua R. Peterson, Senior Vice President & Trust
OfficerKaye Wilke, Investor Relations, toll-free: (866)
809-4553
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