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
$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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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