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Form 8-K SAN JUAN BASIN ROYALTY For: Jul 21

July 22, 2015 6:03 AM EDT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2015

 

 

San Juan Basin Royalty Trust

(Exact name of registrant as specified in the

Amended and Restated San Juan Basin Royalty Trust Indenture)

 

Texas

(State or other jurisdiction of incorporation

or organization)

 

1-8032

(Commission File Number)

 

75-6279898

(I.R.S. Employer

Identification Number)

Compass Bank, Trust Department

300 W. 7th Street, Suite B

Fort Worth, Texas

    76102

(Address of principal

executive offices)

    (Zip Code)

Registrant’s telephone number, including area code: (866) 809-4553

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 2.02 Results of Operations and Financial Condition.

On July 21, 2015, the San Juan Basin Royalty Trust (the “Trust”) issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing, among other things, a monthly cash distribution to the holders of its units of beneficial interest of $1,200,334.41, or $0.025753 per unit, based principally upon production during the month of May 2015.

Item 9.01 Financial Statements and Exhibits.

 

  (d) Exhibits.

 

  99.1 Press release, dated July 21, 2015.

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 Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

COMPASS BANK, AS TRUSTEE FOR THE
SAN JUAN BASIN ROYALTY TRUST
(Registrant)
By: /s/ Lee Ann Anderson
Lee Ann Anderson
Vice President and Senior Trust Officer

Date: July 21, 2015

(The Trust has no directors or executive officers.)

Exhibit 99.1

San Juan Basin Royalty Trust

News Release

Compass Bank, Trustee

300 West Seventh Street, Suite B

Fort Worth, Texas 76102

San Juan Basin Royalty Trust

Declares Monthly Cash Distribution

FORT WORTH, Texas, July 21, 2015 – 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 $1,200,334.41 or $0.025753 per Unit, based principally upon production during the month of May 2015. The distribution is payable August 14, 2015, to Unit Holders of record as of July 31, 2015.

Gas production for the properties from which the royalty was carved (the “Underlying Properties”) totaled approximately 2,569,083 Mcf (2,828,507 MMBtu). Dividing revenues by production volume yielded an average gas price for May 2015 of $2.08 per Mcf ($1.89 per MMBtu) as compared to $2.23 per Mcf ($2.02 per MMBtu) for April 2015.

The average monthly gas price Burlington reports to the Trust is a calculated price. It is determined by dividing gross monthly revenue by production volume, therefore, it does not represent an average of actual sales prices. 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 $743,515. Lease operating expenses were $2,354,841 and taxes were $610,261.

 

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: [email protected]


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