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Stock impact report

San Juan Basin Royalty Trust Declares No Cash Distribution for June 2019

San Juan Basin Royalty Trust (SJT) 
US:NYSE Investor Relations: sjbrt.com
Company Research Source: Business Wire
FORT WORTH, Texas--(BUSINESS WIRE)-- BBVA USA (formerly known as Compass Bank), as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today reported that it will not declare a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) due to excess production costs for the month of April 2019. Excess production costs occur when production costs and capital expenditures exceed the gross proceeds for a certain period. Excess production costs for this reporting period are due primarily to capital spending associated with multiple well recompletions along with lower natural gas prices. These well recompletions were included in the revised 2019 capital expenditures plan announced by the Trust on May 9, 2019. Cash reserves will be utilized to pay Trust administrative expenses of $84,943. Hilcorp San Juan L.P. (“Hilcorp”) will charge the excess productio Show less Read more
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