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 June19, 2018, 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 $27,876.27 or $0.000598 per unit, based principally upon production during the month of April 2018. The distribution is payable July16, 2018, to unit holders of record as of June29, 2018.

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. Hilcorp informed the Trust that it needed to estimate the revenue for the April 2018 production month, similar to the previous month, because their accounting system is not allowing them to record revenue at the well level. The June 2018 distribution includes a revenue true-up for the September 2017 and March 2018 production months. The true-up resulted in an approximately $1.5million reduction in gross proceeds.

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 Item 601 of Regulation S-K:

ExhibitNo.

Description

99.1 Press Release, dated June19, 2018.

2

EXHIBIT INDEX

ExhibitNo.

Description

99.1 Press Release, dated June19, 2018.

3


SAN JUAN BASIN ROYALTY TRUST Exhibit
EX-99.1 2 d810982dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 San Juan Basin Royalty Trust News Release     San Juan Basin Royalty Trust Declares June 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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