Articles from San Juan Basin Royalty Trust

San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT) announced today that the resignation of PNC Bank (“PNC”) as Trustee of the Trust and appointment of Argent Trust Company, a Tennessee chartered trust company (“Argent”) as successor Trustee is effective as of February 15, 2024. At a Special Meeting of the Trust’s Unit Holders held on January 16, 2024, the Unit Holders of the Trust voted to approve two separate proposals amending the Indenture, the governing document of the Trust, and the appointment of Argent as successor Trustee to PNC.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $758,308.20 or $0.016270 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of November 2023. The distribution is payable February 14, 2024, to the Unit Holders of record as of January 31, 2024.

San Juan Basin Royalty Trust (NYSE:SJT) (the “Trust”) today announced that, at the Special Meeting of the Trust’s Unit Holders held on January 16, 2024, the Unit Holders of the Trust voted to approve the appointment of Argent Trust Company, a Tennessee chartered trust company (“Argent”) as successor Trustee to PNC Bank, National Association, the current trustee of the Trust. Unit Holders also approved two separate proposals amending the Indenture, the governing document of the Trust. The proposals approved and adopted by the Unit Holders included amendments (i) permitting a successor trustee to be a bank or trust company having a capital, surplus and undivided profits (as of the end of its last fiscal year prior to its appointment) of at least $15,000,000, (ii) an amendment that would clarify the word “Trustee” to include former trustees for indemnification purposes. The resignation of PNC Bank, National Association as trustee and the appointment of Argent as successor trustee is expected to take place on February 15, 2024.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $574,347.16 or $0.012323 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of October 2023. The distribution is payable January 16, 2024, to the Unit Holders of record as of December 29, 2023.

San Juan Basin Royalty Trust (NYSE: SJT) (the “Trust”) today announced that the Special Meeting of the Trust’s Unit Holders held on December 1, 2023, for the purpose of obtaining Unit Holder approval of the appointment of Argent Trust Company, a Tennessee chartered trust company (“Argent”), as successor trustee to PNC Bank, National Association, the trustee of the Trust (the “Trustee”), together with two additional proposed amendments to the San Juan Basin Royalty Trust Indenture, was adjourned due to the lack of the requisite quorum. The Special Meeting has been adjourned until January 16, 2024 at 10:00 a.m. Central Time, to be held in person at 2200 Post Oak Blvd., Floor 19, Houston, Texas 77056 and virtually via webcast at www.virtualshareholdermeeting.com/SJT2023SM.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $788,156.02 or $0.016910 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of September 2023. The distribution is payable December 14, 2023, to the Unit Holders of record as of November 30, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $2,269,587.37 or $0.048694 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of August 2023. The distribution is payable November 14, 2023, to the Unit Holders of record as of October 31, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $2,507,212.89 or $0.053793 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of July 2023. The distribution is payable October 16, 2023, to the Unit Holders of record as of September 29, 2023.

PNC Bank, National Association (“PNC”), as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), announced that it has entered into an Agreement of Conditional Resignation with Argent Trust Company, a Tennessee chartered trust company (“Argent”), pursuant to which the Trustee will be resigning as trustee of the San Juan Basin Royalty Trust, and will nominate Argent as successor trustee.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), announced that an agreement between the Trustee and Hilcorp San Juan L.P. (“Hilcorp”), the owner of the Trust’s subject interests, will result in the payment of $1,037,093.45 to the Trust by Hilcorp to resolve the 2017-2020 Disputed Expenses exceptions and enter into an amendment to the Conveyance Agreement with respect to the expenses associated with the operator’s saltwater disposal facilities.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $964,360.23 or $0.020691 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of June 2023. The distribution is payable September 15, 2023, to the Unit Holders of record as of August 31, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $475,477.18 or $0.010201 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of May 2023. The distribution is payable August 14, 2023, to the Unit Holders of record as of July 31, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $791,746.81 or $0.016987 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of April 2023. The distribution is payable July 17, 2023, to the Unit Holders of record as of June 30, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $2,457,421.28 or $0.052724 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of March 2023. The distribution is payable June 14, 2023, to the Unit Holders of record as of May 31, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $4,838,334.88 or $0.103807 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of February 2023. The distribution is payable May 12, 2023, to the Unit Holders of record as of April 28, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $19,095,065.72 or $0.409688 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of January 2023. The distribution is payable April 14, 2023, to the Unit Holders of record as of March 31, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $11,644,396.06 or $0.249833 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of December 2022. The distribution is payable March 14, 2023, to the Unit Holders of record as of February 28, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $5,231,814.43 or $0.112250 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of November 2022. The distribution is payable February 14, 2023, to the Unit Holders of record as of January 31, 2023.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $4,488,193.46 or $0.096295 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of October 2022. The distribution is payable January 17, 2023, to the Unit Holders of record as of December 30, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $8,015,381.16 or $0.171971 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of September 2022. The distribution is payable December 14, 2022, to the Unit Holders of record as of November 30, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $16,272,132.13 or $0.349121 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of August 2022. The distribution is payable November 15, 2022, to the Unit Holders of record as of October 31, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $5,794,279.94 or $0.124317 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of July 2022. The distribution is payable October 17, 2022, to the Unit Holders of record as of September 30, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $8,550,291.87 or $0.183448 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of June 2022. The distribution is payable September 15, 2022, to the Unit Holders of record as of August 31, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $6,766,905.11 or $0.145185 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of May 2022. The distribution is payable August 12, 2022, to the Unit Holders of record as of July 29, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $5,202,132.35 or $0.111613 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of April 2022. The distribution is payable July 15, 2022, to the Unit Holders of record as of June 30, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $4,277,812.64 or $0.091781 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of March 2022. The distribution is payable June 14, 2022, to the Unit Holders of record as of May 31, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $ 3,863,096.64 or $0.082883 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of February 2022. The distribution is payable May 13, 2022, to the Unit Holders of record as of April 29, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $ 5,551,298.95 or $0.119104 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of January 2022. The distribution is payable April 14, 2022, to the Unit Holders of record as of March 31, 2022.

PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $ 3,996,441.96 or $0.085744 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of December 2021. The distribution is payable March 14, 2022, to the Unit Holders of record as of February 28, 2022.

PNC Bank, National Association, as the successor trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $4,821,486.55 or $0.103446 per Unit, based primarily upon the reported production during the month of November 2021. The distribution is payable February 14, 2022, to the Unit Holders of record as of January 31, 2022.

PNC Bank, National Association, as the successor trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $5,240,726.18 or $0.112441 per Unit, based primarily upon the reported production during the month of October 2021. The distribution is payable January 14, 2022, to the Unit Holders of record as of December 31, 2021.

PNC Bank, National Association, as the successor trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $6,982,507.89 or $0.149811 per Unit, based primarily upon the reported production during the month of September 2021 and nonrecurring reimbursements to the Trust from prior month actualizations and adjustments, plus interest. The distribution is payable December 14, 2021, to Unit Holders of record as of November 30, 2021.

PNC Bank, National Association, as the Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today announced a status update regarding the monthly reporting by the owner of the Trust’s subject interests, Hilcorp San Juan, L.P. (“Hilcorp”).

PNC Bank, National Association, as the successor Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $3,155,671 or $0.067705 per Unit, based primarily upon the reported production during the month of August 2021. The distribution is payable November 15, 2021, to Unit Holders of record as of October 29, 2021.

BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $1,724,289.03 or $0.036995 per Unit, based primarily upon production during the month of July 2021, subject to certain adjustments by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (Hilcorp”), for prior months. The distribution is payable October 15, 2021, to Unit Holders of record as of September 30, 2021.

BBVA USA, 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 June 2021 production month. Excess production costs occur when production costs exceed the gross proceeds for a certain period.

BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today announced a status update to the monthly reporting by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”).

BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $3,949,643.61 or $0.084740 per Unit, based primarily upon estimated production during the month of May 2021, subject to certain adjustments by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”), for prior months. The distribution is payable August 13, 2021, to Unit Holders of record as of July 30, 2021.

BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $821,024.63 or $0.017615 per Unit, based primarily upon estimated production during the month of April 2021, subject to certain adjustments by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”), for prior months. The distribution is payable July 15, 2021, to Unit Holders of record as of June 30, 2021.

BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $1,880,140.70 or $0.040339 per Unit, based primarily upon estimated production during the month of March 2021, subject to certain adjustments by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (Hilcorp”), for prior months. The distribution is payable June 14, 2021, to Unit Holders of record as of May 28, 2021.

BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $4,464,842.99 or $0.095794 per Unit, based primarily upon estimated production during the month of February 2021, subject to certain adjustments by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (Hilcorp”), for prior months. The distribution is payable May 14, 2021, to Unit Holders of record as of April 30, 2021.