San Juan Basin Royalty Trust Declares Cash Distribution for February 2020
February 18 2020 - 9:00AM
Business Wire
BBVA USA, 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 $1,723,194.34 or $0.036971 per Unit, based primarily
upon production during the month of December 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 March 13, 2020, to Unit Holders of record
as of February 28, 2020.
Based upon information provided to the Trust by Hilcorp, gas
production for the subject interests totaled 2,469,963 Mcf
(2,744,404 MMBtu) for December 2019, as compared to 2,505,179 Mcf
(2,783,532 MMBtu) for November 2019. Dividing revenues by
production volume yielded an average gas price for December 2019 of
$2.08 per Mcf ($1.87 per MMBtu), as compared to an average gas
price for November 2019 of $1.71 per Mcf ($1.54 per MMBtu).
Hilcorp has advised the Trust that the December 2019 reporting
month included a reduction of $22,072 gross ($16,554 net to the
Trust) based on true-ups and adjustments for the December 2017
production month. Hilcorp also reported that for the reporting
month of December 2019, revenue included an estimated $165,611 for
non-operated revenue. For the month ended December 2019, Hilcorp
reported to the Trust capital costs of $30,321, lease operating
expenses and property taxes of $2,423,950, and severance taxes of
$360,221.
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/20200218005301/en/
San Juan Basin Royalty Trust BBVA USA, Trustee 2200 Post Oak
Blvd., Floor 18 Houston, TX 77056 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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