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 $3,825,097.39 or $0.082068 per Unit, based
principally upon production during the month of October 2014. The
distribution is payable January 15, 2015, to Unit Holders of record as
of December 31, 2014.
Gas production for the properties from which the royalty was carved (the
“Underlying Properties”) totaled approximately 2,480,049 Mcf (2,714,101
MMBtu). Dividing revenues by production volume yielded an average gas
price for October 2014 of $3.81 per Mcf ($3.48 per MMBtu) as compared to
$4.08 per Mcf ($3.71 per MMBtu) for September 2014.
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 $883,962. Lease
operating expenses were $2,600,935 and taxes were $1,048,072.
Copyright Business Wire 2014