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San Juan Basin Royalty Trust Announces Settlement of Litigation with Burlington

SAN JUAN BASIN ROYALTY (SJT)  More Company Research Source: Business Wire
US:NYSE Investor Relations: sjbrt.com
PDF FORT WORTH, Texas--(BUSINESS WIRE)-- Compass Bank, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT) (the “Trust”), today announced that the Trust entered into a compromise settlement agreement (the “Settlement Agreement”) with Burlington Resources Oil & Gas Company LP (“Burlington”), a wholly-owned subsidiary of ConocoPhillips, with respect to the lawsuit that the Trust filed against Burlington on July 31, 2014. The lawsuit was filed in the 1st Judicial District Court, Santa Fe County, New Mexico, and styled Compass Bank, in its Capacity as Trustee of the San Juan Basin Royalty Trust v. Burlington Resources Oil & Gas Company LP and BROG GP LLC, No. D-101-CV-2014-01765 (the “2014 Litigation”). The Settlement Agreement provides that Burlington pay the Trust $7.5 million to resolve the 2014 Litigation and all disputed and/or unresolved audit exceptions asserted by the Trust for the audit years Janu [Read more]

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