Conveyance

Hugoton Royalty Trust Declares No August Cash Distribution

Retrieved on: 
Friday, August 20, 2021
Fraudulent conveyance, XTO, XTO Energy, Conveyance, Panel, Unit, Sale, Lawyer, Trustee, Exercise, Annual report, Income, Simmons Bank, Oil, Security (finance), Credit, Reinsurance, Life insurance

Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts.

Key Points: 
  • Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts.
  • The Trustee intends to call a special meeting of Unit holders for the purpose of approving the sale of assets.
  • Execution of the purchase and sale agreement followed a process previously announced by the Trust whereby the Trustee had engaged a third party to market the Trust's assets.
  • However, there is nothing in the Trust indenture that requires Simmons Bank to pay the expenses for the Trust.

San Juan Basin Royalty Trust Declares No Cash Distribution for August 2021

Retrieved on: 
Friday, August 20, 2021
Energy, Other Energy, Oil, Gas, BBVA, NYSE, View, Trustee, Conveyance, Review, Tax, BBVA USA, British thermal unit, SJT, Life insurance

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.

Key Points: 
  • 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.
  • As previously announced, Hilcorp is waiving interest on any overpayments to the Trust in 2021.
  • Hilcorp will charge the excess production costs of $1,091,749.10 gross ($818,811.83 net to the Trust) to the next months distribution.
  • No cash distributions will be distributed by the Trust until future net proceeds are sufficient to pay then-current Trust liabilities and replenish cash reserves.

FMCSA Announces Clarifying Regulatory Guidance for Transportation of Agricultural Commodities, Personal Conveyance

Retrieved on: 
Thursday, May 31, 2018
Trucking industry in the United States, Road safety, Transport, Federal Motor Carrier Safety Administration, United States Department of Transportation, Conveyance, Federal Register, Government

WASHINGTON, May 31, 2018 /PRNewswire-USNewswire/ --The U.S. Department of Transportation's Federal Motor Carrier Safety Administration (FMCSA) today announced new regulatory guidance clarifying the longstanding 150 air-miles hours-of-service agricultural commodity exemption as well as providing additional explanatory detail of the "personal conveyance" provision.

Key Points: 
  • WASHINGTON, May 31, 2018 /PRNewswire-USNewswire/ --The U.S. Department of Transportation's Federal Motor Carrier Safety Administration (FMCSA) today announced new regulatory guidance clarifying the longstanding 150 air-miles hours-of-service agricultural commodity exemption as well as providing additional explanatory detail of the "personal conveyance" provision.
  • FMCSA published Federal Register notices proposing regulatory guidance for the transportation of agricultural commodities and the use of personal conveyance in December, 2017 and requested public comment.
  • FMCSA is providing clarity on the use of the agricultural exemption and personal conveyance to both industry and law enforcement along with providing as much flexibility as possible for the industry, while maintaining safety.
  • In all, nearly 850 public comments were submitted to the Federal Register dockets on the proposed guidance pertaining to the transportation of agricultural commodities as well as on the personal conveyance provision.