Welcome to our dedicated page for San Juan Royl Tr news (Ticker: SJT), a resource for investors and traders seeking the latest updates and insights on San Juan Royl Tr stock.
San Juan Basin Royalty Trust UBI (NYSE: SJT) issues frequent operational and financial updates that are particularly relevant for investors focused on natural gas and oil royalties. The Trust holds a net profits interest in producing properties in the San Juan Basin of New Mexico, and its news flow centers on how revenues, production costs, and capital spending on these properties affect net proceeds and potential cash distributions to unitholders.
Recent press releases from Argent Trust Company, as trustee, have emphasized that the Trust has not declared monthly cash distributions for multiple consecutive months. The stated reasons include excess production costs for the Trust’s subject interests and periods of continued low natural gas pricing. These announcements detail how production costs, lease operating expenses, severance taxes, and capital expenditures compare to gross proceeds, and explain when excess production costs prevent royalty income from being paid to the Trust.
News items also describe Hilcorp’s capital project plans for the Subject Interests, including drilling projects, recompletions, workovers, and facilities projects related to natural gas compression and other facilities. These updates outline estimated capital budgets and project counts, and note that actual capital costs may vary from estimates. Such information helps readers understand how ongoing development activity may influence future production, costs, and the timing of any resumption of distributions.
In addition, the Trust’s releases discuss the Trustee’s use of cash reserves, interest income, and, more recently, a line of credit to cover administrative expenses during revenue shortfalls. Together, these news items provide a detailed picture of how commodity prices, operating costs, and capital spending interact within the Trust’s net profits structure. Investors and analysts following SJT can use this news page to review the Trust’s monthly distribution decisions, production metrics, and capital planning disclosures over time.
PNC Bank, as the Trustee of San Juan Basin Royalty Trust (NYSE: SJT), announced a monthly cash distribution of $6,982,507.89 or $0.149811 per Unit, payable on December 14, 2021. This is based on production reported for September 2021. Hilcorp reported $9,520,577 in net profits, with revenues of $7,603,853. Gas production was approximately 167,812 Mcf, averaging $3.60 per Mcf. The Trustee is working with Hilcorp regarding accounting and reporting issues. Previous discrepancies in their accounting system have been addressed.
PNC Bank, as Trustee for the San Juan Basin Royalty Trust (SJT), provided updates on Hilcorp's monthly reporting concerning gross proceeds and severance taxes. Following a November 2021 meeting, Hilcorp identified that it owes an additional $448,780 in revenues for early 2021 along with $63,496 interest. It also discovered accounting errors leading to a reimbursement of $2,681,521 for mislabeled accounts, with $72,667 in interest. Hilcorp is correcting its accounting practices, and the Trust's auditors continue to review the payments made.
PNC Bank, as the successor Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), has declared a monthly cash distribution of $3,155,671, equating to $0.067705 per Unit, to Unit Holders. The distribution, based on August 2021 production, will be payable on November 15, 2021. Hilcorp reported August gross revenue of $7,582,753, with gross production costs of $3,175,587, resulting in profits of $4,407,166 gross ($3,305,374 net). Notably, gas production increased slightly from July, with an average gas price of $3.37 per Mcf.
BBVA USA, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), declared a monthly cash distribution of $1,724,289.03 or $0.036995 per Unit for July 2021, payable on October 15, 2021. Hilcorp reported gross revenue of $7,512,674 and production costs of $4,837,606, yielding profits of $2,675,068 gross and $2,006,301 net to the Trust. Gas production increased to 2,147,718 Mcf, but average gas prices decreased to $3.28 per Mcf compared to June. The Trust's cash reserves will be replenished to $1 million.
BBVA USA, Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), announced no monthly cash distribution for Unit Holders due to excess production costs for June 2021. Hilcorp reported gross profits of $1,850,948.35 but adjusted for true-ups led to a net profit of $1,388,211.26. Corrections for previous months decreased June profits by over $2 million. Cash reserves will cover administrative expenses, while excess costs of $1,091,749.10 will affect future distributions. June's gas production was 1,568,223 Mcf with an average price of $3.46 per Mcf.
BBVA USA, Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), provided a report on the revenue and severance taxes concerning the Trust's interests managed by Hilcorp San Juan L.P. Due to Hilcorp's transition to a new accounting system, only estimates have been reported for revenue and taxes for specific months. The true-ups for previous months are expected but without a confirmed timeline. Hilcorp will pay interest for any underpayments, while waiving it for any overpayments based on the true-ups.
BBVA USA, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), announced a monthly cash distribution of $3,949,643.61, equating to $0.084740 per Unit. This distribution is based on estimated May 2021 production and will be payable on August 13, 2021, to record Unit Holders as of July 30, 2021. Gas production for May was reported at 2,695,014 Mcf, an increase from April's 2,498,553 Mcf, with an average gas price rising to $1.88 per Mcf. Additional profits of $2,559,341 gross were identified due to true-ups for previous months.
BBVA USA, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), announced a monthly cash distribution of $821,024.63, equating to $0.017615 per Unit, based on estimated April 2021 production. This distribution is payable on July 15, 2021, to Unit Holders of record as of June 30, 2021. April gas production totaled 2,498,553 Mcf, a decrease from March's 2,617,042 Mcf, with the average gas price dropping to $1.67 per Mcf from $2.07. Hilcorp informed the Trust that the figures for April were based on estimates due to a transition to a new accounting system.
BBVA USA, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), announced a monthly cash distribution of $1,880,140.70, equating to $0.040339 per Unit, to Unit Holders. This distribution is based on estimated production for March 2021, with payments due on June 14, 2021, for records as of May 28, 2021. Gas production totaled 2,617,042 Mcf, up from 2,401,460 Mcf in February 2021, but the average gas price significantly dropped to $2.07 per Mcf from $4.67. Hilcorp's transition to a new accounting system led to estimates influencing this month's reporting.
BBVA USA, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), announced a monthly cash distribution of $4,464,842.99, equating to $0.095794 per Unit, primarily based on February 2021 production estimates. The distribution will be paid on May 14, 2021, to Unit Holders of record as of April 30, 2021. Gas production for February was 2,401,460 Mcf, down from January's 2,631,464 Mcf, with average gas prices soaring to $4.67 per Mcf compared to $2.36 in January. Estimated non-operated revenue amounted to $100,000, while expenses included $86,941 in capital costs and significant lease operating expenses.