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San Juan Basin Royalty Trust (SJT)

NYSE - NYSE Delayed Price. Currency in USD
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5.12-0.15 (-2.85%)
At close: 4:00PM EDT
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  • K
    KenLuskin
    The Gas fields operated by HilCorp, upon which SJT has a 75% overriding royalty:
    1) Have FLOW METERS, such that Hilcorp KNOWS EXACTLY HOW MUCH GAS IS BEING SOLD EVERY MONTH
    2) HilCorp knows exactly the price they are contractually receiving for the Gas sold EVERY DAY.

    BOTTOM LINE: HilCorp has been committing FRAUD by constantly MANIPULATING the reported proceeds, and production numbers given to the SJT TTEE every month.
    = TIME TO SUE HILCORP
    A Texas jury will clearly side with the individuals who own SJT, over the CRIMINALS at Hilcorp, who have been deliberately committing FRAUD since they took over ownership as operator of the properties that pay royalties to SJT.
    PUNITIVE DAMAGES should be at least a $$$ few hundred million or $5/unit
  • D
    Dick
    Gas pricing moving forward from May has moved much higher and is still going up which meaans coming months should be better not counting adjustments.
  • S
    Shredsail
    Just over half the distribution is due to the all too often true-up. It’s especially odd that there are even true-ups for the current month which just now being reported. It’s very difficult to figure out what is going on and certainly not transparent. The Trust has hired an auditor to review Hilcorp’s business management of the wells but apparently the auditor is not allowed to share the nature of those gathering, processing, and sales contracts with the Trust. And guess who is on the other end of many of those arrangements? An affiliate company of Hilcorp. The annual 10 k is a sleeper read.

    BTW some of us may refer to the distribution as a dividend, it’s not technically and if you don’t know the difference and hold these units in a regular brokerage account your taxes are going to get a bit complicated, often with a good depletion write off though.
  • R
    Rusty
    Great div this month due to true ups.

    --(BUSINESS WIRE)-- 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.
  • R
    RealMcCoy
    Estimated production, estimated gas prices, estimated costs for the last 4 months is unacceptable. Is it legal for a public company to operate without a functioning accounting system? How are past shareholders compensated?
  • Y
    Yahoo Finance Insights
    SJT is up 7.66% to 5.07
  • K
    KenLuskin
    Hi Bob,
    I will agree to a less confrontational style, if the TTEE will agree to a more proactive
    mode of operation in communicating and protecting the rights of SJT unit holders.

    Specifically, the last announced distribution was based on an effective Nat Gas price
    that was about half the rate at the time. Yet, the TTEE failed to mention that they are
    investigating this discrepancy and would use all legal means to gain restitution for this situation,
    and to ensure it does not happen again going forward.

    The TTEE continues to publicly show weakness in dealing with Hill Corp., and so Hill Corp
    continues to screw with both the reported volumes and pricing.

    Since we are talking about discrepancies of $millions per month in distributions, which can result in under valuation of SJT of hundreds of millions, I think that I would not have much trouble signing a law firm
    to file a class action to rectify this situation on behalf of all unit holders....
    A remedy that might include replacing the current TTEE with one that is more proactive and protective of the unit holder's interests.

    Sincerely,
    Ken
  • R
    RealMcCoy
    Management estimate of $1.50 has to be wrong. The US EIA Henry Hub price for April was $2.66 up from $2.62 in Mar and $2.91 in June. There has been a premium at San Juan.
    How long does it take to roll out a new accounting system?
  • A
    Adam1027
    I’m watching San Juan trade at $3.38 for July right now….big payment coming your way when it’s reported in September.
    Bullish
  • K
    KenLuskin
    EMAIL from SJT's LAWYER:
    "
    Gray, Robert F.
    Jun 25, 2021, 2:04 PM (2 days ago)
    to JOSH, Robert, me

    Mr. Luskin,

    The San Juan Basin Royalty Trust (the “Trust”) has forwarded to me your email below of 21 June. Let me assure you that the BBVA USA, as Trustee, takes its obligation to the unit holders very seriously. Among other things, as disclosed in the Trust’s SEC filings, the Trustee continues to engage AMS-PAR to audit Hilcorp’s books and records as they pertain to the Trust’s interests. In addition, the Trustee will continue to be transparent with you and the other unit holders and provide them with all material information available to it in a timely manner as appropriate.

    The Trustee is in frequent contact with AMS-PAR and Hilcorp reviewing Hilcorp’s records, and will continue to provide you and the other unit holders of the Trust with timely disclosure of any material developments that impact the Trust. In that regard, we expect that within the next several weeks the Trustee will be able to provide a periodic update to unitholders.

    For the record, however, the accusations of misconduct against BBVA USA and Mr. Peterson included in your June 21st voice mail and email are completely without merit or foundation. While the Trustee looks forward to hearing from you in the future if you have further concerns or questions, a less confrontational approach will promote a more constructive dialogue.

    Sincerely,



    Bob Gray



    ______________________

    Robert F. “Bob” Gray, Jr.
    Mayer Brown LLP
    (www.MayerBrown.com)
    +1 713-238-2600 – Direct
    +1 713-238-4600 -- Fax
    +1 713-825-1500 -- Cell
  • j
    jim
    any theories on the drop?
  • b
    bbiiggddooggyy
    Will the new accounting come with more details and proper usage of the terms "Gross" and "Net"?
  • C
    Crazy Horse
    like SJT for the dividend but my BPT is up 44% in the last 30 days so I am getting the best of both worlds. No complaints here.
    Bullish
  • H
    Hermann
    The trustee has no obligation to unit holders aside from distributing royalties. Their goal is to expend as many billable hours as possible to communicate the message given to them from the operator to the unit holders. In the unlikely event that the Trustee is taken to court by unit holders, they know the paperwork needed to dismiss the case. It's a secure, low-stress, job with little thinking or moral compass required.
  • Y
    Yahoo Finance Insights
    SJT is down 6.62% to 5.22
  • D
    Dick
    SJT will follow oil much higher, $6.50 in three months.
  • S
    Sal
    If natural gas prices keep this up we should be in good shape.
    Bullish
  • W
    Wray
    People please read! Coal seam gas has a lower btu content that benchmark natural gas! Also it has more processing involved before it is able to be sold. SJT gas will ALWAYS sell for less than "normal" natural gas! In other words it takes more coal seam gas to produce the same energy as normal natural gas!!! Please read the original trust prospectus rather than just throwing s--t around with no knowledge along with no desire to acquire knowledge.
  • A
    Anonymous
    roughly I would say it pays $0.05 div/share, which leads to ~11.40% Yield and oil price on the rise which could also lead to increase in div. Yes I have added more at $5.23 and this is the best way to lock profit in a money generating machine $3000/year for 5000 stock.............I am happy and like it that way..........and don't forget the growth in stock as well................I started adding this stock $2.55 and today I added 1K to increase my position to total 5K. Good luck every one
    Bullish
  • C
    Crazy Horse
    SJT is good but BPT is going up day after day.
    Bullish