Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - SAN JUAN BASIN ROYALTY TRUST | d82485e8vk.htm |
Exhibit 99.1
San Juan Basin Royalty Trust
News Release
Compass Bank, Trustee
2525 Ridgmar Boulevard, Suite 100
Fort Worth, Texas 76116
2525 Ridgmar Boulevard, Suite 100
Fort Worth, Texas 76116
San Juan Basin Royalty Trust
Declares Monthly Cash Distribution
Declares Monthly Cash Distribution
FORT WORTH, Texas, May 20, 2011 — Compass Bank, as Trustee of the San Juan Basin
Royalty Trust (NYSE:SJT), today declared a monthly cash distribution to the holders of its units of
beneficial interest of $6,113,738.37 or $0.131171 per unit, based principally upon production
during the month of March 2011. The distribution for May also includes $681,547.50 in granted audit
exceptions and interest on late payment of net proceeds. The distribution is payable June 14, 2011,
to unit holders of record as of May 31, 2011.
Gas production for the properties from which the royalty was carved (the “Underlying
Properties”) totaled approximately 2,709,888 Mcf (2,986,024 MMBtu). Dividing revenues by
production volume yielded an average gas price for March 2011 of $4.66 per Mcf ($4.23 per MMBtu)
as compared to $4.79 per Mcf ($4.45 per MMBtu) for February 2011. The average gas price may vary
from the posted index price for the San Juan Basin. The index price is a gross sales price, and
the revenues used in the calculation of average gas prices are net of transportation, processing
and gathering costs. Furthermore, the distribution to the Trust in any given month may include
significant volume adjustments for sales in prior months that reflect pricing for those prior
months. Capital costs for the month were $1,781,347. Lease operating expenses were $2,689,654 and
taxes were $1,272,360.
Contact:
|
San Juan Basin Royalty Trust Compass Bank Lee Ann Anderson, Vice President & Senior Trust Officer Kaye Wilke, Investor Relations, toll-free: (866) 809-4553 |
| Fax: (817) 735-0936 Website: www.sjbrt.com e-mail: sjt@compassbank.com |