San Juan Basin Royalty Trust Declares Cash Distribution for March 2020
March 20 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 $1,498,536.63 or $0.032151 per Unit, based primarily
upon production during the month of January 2020, subject to
certain adjustments by the owner of the Trust’s subject interests,
Hilcorp San Juan L.P. (“Hilcorp”), for prior months. The
distribution is payable April 14, 2020, to Unit Holders of record
as of March 31, 2020.
Based upon information provided to the Trust by Hilcorp, gas
production for the subject interests totaled 1,888,856 Mcf
(2,098,729 MMBtu) for January 2020, as compared to 2,469,963 Mcf
(2,744,404 MMBtu) for December 2019. Dividing revenues by
production volume yielded an average gas price for January 2020 of
$2.34 per Mcf ($2.11 per MMBtu), as compared to an average gas
price for December 2019 of $2.08 per Mcf ($1.87 per MMBtu).
Hilcorp has advised the Trust that the January 2020 reporting
month included additional profits of $250,108 gross ($187,581 net
to the Trust) based on true-ups and adjustments for the January
2019, February 2019, and September 2019 production months.
Hilcorp also reported that for the reporting month of January
2020, revenue included an estimated $73,803 for non-operated
revenue. For the month ended January 2020, Hilcorp reported to the
Trust capital costs of $1,786, lease operating expenses and
property taxes of $2,179,202, and severance taxes of $166,769.
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/20200320005043/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, Head of Trust Real Assets & Mineral
Resources and Senior Vice President Kaye Wilke, Investor Relations,
toll-free: (866) 809-4553
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