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No August cash distribution for San Juan Basin Royalty Trust

Aug. 20, 2019 2:45 PM ETSan Juan Basin Royalty Trust (SJT) StockBy: Carl Surran, SA News Editor11 Comments
  • San Juan Basin Royalty Trust (NYSE:SJT -7.1%) slides to within a few pennies of its 52-week low after its trustee confirmed the company will not pay a monthly cash distribution for August, after June production costs and capital spending exceeded gross proceeds.
  • SJT says it does not expect to pay cash distributions in the future until gross proceeds can cover its liabilities and replenish its cash reserves after falling to below $785K on July 31.
  • The company says the excess production costs for the latest reporting period were due mostly to planned capital spending associated with the Fruitland Coal well drill and multiple well recompletions.

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