San Juan Basin Royalty Trust Declares May Cash Distribution
May 20 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 $1,252,456.43 or $0.026872 per Unit, based
primarily upon production during the month of March 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 June 14, 2019, to Unit Holders of record as
of May 31, 2019.
Based upon information provided to the Trust by Hilcorp, gas
production for the subject interests totaled 2,293,581 Mcf
(2,548,423 MMBtu) for March 2019, as compared to 2,404,977 Mcf
(2,672,196 MMBtu) for February 2019. Dividing revenues by
production volume yielded an average gas price for March 2019 of
$2.00 per Mcf ($1.80 per MMBtu), as compared to an average gas
price for February 2019 of $1.85 per Mcf ($1.66 per MMBtu).
For the reporting month of March 2019, Hilcorp has advised the
Trust that revenue included an estimate of $169,000 for
non-operated revenue. For the month ended March 2019, Hilcorp
reported to the Trust capital costs of $512,110, lease operating
expenses and property taxes of $2,222,907 and severance taxes of
$464,806.
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/20190520005182/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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