{"id":748624,"date":"2023-04-18T09:22:31","date_gmt":"2023-04-18T13:22:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/san-juan-basin-royalty-trust-declares-cash-distribution-for-april-2023\/"},"modified":"2023-04-18T09:22:31","modified_gmt":"2023-04-18T13:22:31","slug":"san-juan-basin-royalty-trust-declares-cash-distribution-for-april-2023","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/san-juan-basin-royalty-trust-declares-cash-distribution-for-april-2023\/","title":{"rendered":"San Juan Basin Royalty Trust Declares Cash Distribution for April 2023"},"content":{"rendered":"

<\/p>\n

San Juan Basin Royalty Trust Declares Cash Distribution for April 2023<\/b><\/p>\n

HOUSTON–(BUSINESS WIRE<\/a>)–
\nPNC Bank, National Association, as the trustee (the \u201cTrustee\u201d) of the San Juan Basin Royalty Trust (the \u201cTrust\u201d) (NYSE: SJT), today declared a monthly cash distribution to the holders (the \u201cUnit Holders\u201d) of its units of beneficial interest (the \u201cUnits\u201d) of $4,838,334.88 or $0.103807 per Unit, based primarily upon the reported production of the Trust\u2019s subject interests (the \u201cSubject Interests\u201d) during the month of February 2023. The distribution is payable May 12, 2023, to the Unit Holders of record as of April 28, 2023.<\/p>\n

\nFor the production month of February 2023, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject Interests, Hilcorp Energy Company (collectively, \u201cHilcorp\u201d), reported to the Trust net profits of $6,564,258 ($4,923,194 net royalty amount to the Trust).<\/p>\n

\nHilcorp reported $10,497,723 of total revenue from the Subject Interests for the production month of February 2023, consisting of $10,378,698 of gas revenues and $119,025 of oil revenues. For the Subject Interests, Hilcorp reported $3,933,465 of production costs for the production month of February 2023, consisting of $2,675,325 of lease operating expense, $1,233,593 of severance taxes and $24,547 of capital costs.<\/p>\n

\nBased upon the information that Hilcorp provided to the Trust, gas volumes for the Subject Interests for February 2023 totaled 1,649,392 Mcf (1,832,658 MMBtu), as compared to 1,913,923 Mcf (2,126,581 MMBtu) for January 2023. Dividing gas revenues by production volume yielded an average gas price for February 2023 of $6.29 per Mcf ($5.66 per MMBtu), as compared to an average gas price for January 2023 of $16.24 per Mcf ($14.61 per MMBtu).<\/p>\n

\nProduction from the Subject Interests continues to be gathered, processed, and sold under market sensitive and customary agreements, as recommended for approval by the Trust\u2019s Consultant. The Trustee continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust\u2019s third-party compliance auditors continue to audit payments made by Hilcorp to the Trust, inclusive of sales revenues, production costs, capital expenditures, adjustments, actualizations, and recoupments. The Trust\u2019s auditing process has also included detailed analysis of Hilcorp\u2019s pricing and rates charged. As previously disclosed in the Trust\u2019s filings, these revenues and costs (along with all costs) are the subject of the Trust\u2019s ongoing comprehensive audit process by our professional consultants and outside counsel to ensure full compliance with all the underlying operative Trust agreements and evaluating all available potential remedies in the event there is evidence of non-compliance.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230418005831\/en\/<\/a><\/span><\/p>\n

\nSan Juan Basin Royalty Trust<\/p>\n

\nPNC Bank, National Association
\n
PNC Asset Management Group
\n
2200 Post Oak Blvd., Floor 18
\n
Houston, TX 77056
\n
website: www.sjbrt.com
\n<\/a>
e-mail: sjt@pnc.com<\/a><\/p>\n

\nRoss Durr, RPL, Senior Vice President & Mineral Interest Director
\n
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553<\/p>\n

KEYWORDS:<\/b> Texas United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Mining\/Minerals Oil\/Gas Natural Resources Energy Finance Banking<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

San Juan Basin Royalty Trust Declares Cash Distribution for April 2023 HOUSTON–(BUSINESS WIRE)– PNC Bank, National Association, as the trustee (the \u201cTrustee\u201d) of the San Juan Basin Royalty Trust (the \u201cTrust\u201d) (NYSE: SJT), today declared a monthly cash distribution to the holders (the \u201cUnit Holders\u201d) of its units of beneficial interest (the \u201cUnits\u201d) of $4,838,334.88 or $0.103807 per Unit, based primarily upon the reported production of the Trust\u2019s subject interests (the \u201cSubject Interests\u201d) during the month of February 2023. The distribution is payable May 12, 2023, to the Unit Holders of record as of April 28, 2023. For the production month of February 2023, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject … <\/p>\n

Continue reading “San Juan Basin Royalty Trust Declares Cash Distribution for April 2023”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-748624","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSan Juan Basin Royalty Trust Declares Cash Distribution for April 2023 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/san-juan-basin-royalty-trust-declares-cash-distribution-for-april-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Juan Basin Royalty Trust Declares Cash Distribution for April 2023 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"San Juan Basin Royalty Trust Declares Cash Distribution for April 2023 HOUSTON–(BUSINESS WIRE)– PNC Bank, National Association, as the trustee (the \u201cTrustee\u201d) of the San Juan Basin Royalty Trust (the \u201cTrust\u201d) (NYSE: SJT), today declared a monthly cash distribution to the holders (the \u201cUnit Holders\u201d) of its units of beneficial interest (the \u201cUnits\u201d) of $4,838,334.88 or $0.103807 per Unit, based primarily upon the reported production of the Trust\u2019s subject interests (the \u201cSubject Interests\u201d) during the month of February 2023. 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