San Juan Basin Royalty Trust (NYSE:SJT) Files An 8-K Results of Operations and Financial Condition

San Juan Basin Royalty Trust (NYSE:SJT) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.

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On October20, 2017, the San Juan Basin Royalty Trust (the “Trust”) issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing a monthly cash distribution to the holders of its units of beneficial interest of $3,390,361.80 or $0.072741 per unit, based principally upon estimated production during the month of August 2017, as further described below. The distribution is payable November14, 2017, to unit holders of record as of October31, 2017.

The sale of San Juan Basin assets, including the oil and gas interests from which the Trust’s royalty interest was carved (“Subject Interests”), from Burlington Resources Oil& Gas Company LP (“Burlington”) to Hilcorp San Juan L.P. (“Hilcorp”) closed on July31, 2017. Due to the transition from Burlington, Hilcorp informed the Trust that Hilcorp does not yet have all of the revenue and expense decks for August 2017 installed, and therefore does not have the appropriate detail to provide actual revenue and expense numbers for the October 2017 distribution. Therefore, Hilcorp estimated the October 2017 distribution based on prior months’ distribution detail (revenue and expenses) previously provided by Burlington and rounded to the nearest thousand.

The October 2017 declaration of cash distribution includes an additional $1.0 million in estimated revenue based on Hilcorp’s knowledge that production volumes increased during the month of August 2017.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall be deemed “furnished” and not “filed” with the Securities and Exchange Commission for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise, subject to the liabilities of that section.

Item 2.02. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed in accordance with the provisions of Item601 of Regulation S-K:

ExhibitNo.

Description

99.1 Press Release, dated October20, 2017.

2

EXHIBIT INDEX

ExhibitNo.

Description

99.1 Press Release, dated October 20, 2017.

3


SAN JUAN BASIN ROYALTY TRUST Exhibit
EX-99.1 2 d480180dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 San Juan Basin Royalty Trust     News Release   San Juan Basin Royalty Trust Declares October Cash Distribution FORT WORTH,…
To view the full exhibit click here

About San Juan Basin Royalty Trust (NYSE:SJT)

San Juan Basin Royalty Trust is an express trust. The principal asset of the Trust is Royalty. Its underlying properties include the working, royalty and other oil and natural gas interests owned by Southland Royalty Company in properties located in the San Juan Basin of northwestern New Mexico. The Trust does not operate the Underlying Properties and does not carry on any business activity. The Trust is a widely held fixed investment trust (WHFIT) and is classified as a non-mortgage widely held fixed investment trust (NMWHFIT) for federal income tax purposes. Burlington Resources Oil & Gas Company LP is the principal operator of the Underlying Properties. The Trustee of the Trust is Compass Bank, which is a subsidiary of Banco Bilbao Vizcaya Argentaria, S.A.

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