Form 8-K

COMPASS BANK, AS TRUSTEE FOR THE SAN JUAN BASIN ROYALTY TRUST

(Registrant)

Date: November 18, 2016

/s/ Joshua R. Peterson

Joshua R. Peterson

Vice President and Senior Trust Officer

0001193125-16-772327.txt : 20161118 0001193125-16-772327.hdr.sgml : 20161118 20161118163055 ACCESSION NUMBER: 0001193125-16-772327 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20161118 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20161118 DATE AS OF CHANGE: 20161118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAN JUAN BASIN ROYALTY TRUST CENTRAL INDEX KEY: 0000319655 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] IRS NUMBER: 756279898 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08032 FILM NUMBER: 162008101 BUSINESS ADDRESS: STREET 1: COMPASS BANK, TRUST DEPARTMENT STREET 2: 300 W. 7TH STREET SUITE B CITY: FORT WORTH STATE: TX ZIP: 76102 BUSINESS PHONE: 8668094553 MAIL ADDRESS: STREET 1: COMPASS BANK, TRUST DEPARTMENT STREET 2: 300 W. 7TH STREET SUITE B CITY: FORT WORTH STATE: TX ZIP: 76102 8-K 1 d297277d8k.htm FORM 8-K Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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):

November 18, 2016

San Juan Basin Royalty Trust

(Exact name of registrant as specified in its charter)

Texas

1-8032

75-6279898

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

Compass Bank, Trust Department

300 W. 7^th Street, Suite B

Fort Worth, Texas 76102

(Address of principal executive offices, including zip code)

(866) 809-4553

(Registrant’s telephone number, including area code)

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 (see General Instruction A.2. below):

☐	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 November 18, 2016, the San Juan Basin Royalty Trust (the “Trust”) issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing a monthly cash distribution to the holders of its units of beneficial interest of $2,291,118.67or $0.049156 per Unit, based principally upon production during the month of September 2016. The distribution is payable December 14, 2016, to Unit Holders of record as of November 30, 2016.

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.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed in accordance with the provisions of Item 601 of Regulation S-K:


Exhibit No.		Description

99.1		Press Release, dated November 18, 2016.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT INDEX


Exhibit No.		Description

99.1		Press Release, dated November 18, 2016.

EX-99.1 2 d297277dex991.htm EX-99.1 EX-99.1

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, November 18, 2016 – 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 $2,291,118.67 or $0.049156 per Unit, based principally upon production during the month of September 2016. The distribution is payable December 14, 2016, to Unit Holders of record as of November 30, 2016.

Gas production for the properties from which the royalty was carved (the “Subject Interests”) totaled approximately 2,431,510 Mcf (2,703,214 MMBtu) for September 2016. Dividing revenues by production volume yielded an average gas price for September 2016 of $2.42 per Mcf ($2.18 per MMBtu) as compared to $2.29 per Mcf ($2.05 per MMBtu) for August 2016.

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, and 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.

For the month ended October 2016, capital costs were $262,967, lease operating expenses were $1,953,236, and property taxes were $48,210. Severance taxes for the September production month were $607,563.

Contact:

San Juan Basin Royalty Trust

Compass Bank

Joshua R. Peterson, Vice President & Senior Trust Officer

Kaye Wilke, Investor Relations, toll-free: (866) 809-4553

Fax: (817) 735-0936

Website: www.sjbrt.com

e-mail: sjt.us@bbva.com