FORT WORTH, Texas--(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
$2,073,251.93 or $0.044482 per Unit, based primarily upon production
during the month of January 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 April 12,
2019, to Unit Holders of record as of March 29, 2019.
Based upon information provided to the Trust by Hilcorp, gas production
for the subject interests totaled 2,421,934 Mcf (2,691,038 MMBtu) for
January 2019, as compared to 2,513,739 Mcf (2,793,043 MMBtu) for
December 2018. Dividing revenues by production volume yielded an average
gas price for January 2019 of $2.78 per Mcf ($2.51 per MMBtu), as
compared to an average gas price for December 2018 of $2.66 per Mcf
($2.39 per MMBtu).
Hilcorp has advised the Trust that for the reporting month of January
2019, 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 January 2019, Hilcorp reported to the Trust capital
costs of $499,398, lease operating expenses and property taxes of
$2,726,278 and severance taxes of $746,839.
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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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
Source: San Juan Basin Royalty Trust