Santa Fe Energy Trust (the Trust) holds royalty interests in oil and gas properties. The Trust, along with JPMorgan Chase Bank as trustee (the Trustee), acquires and holds certain royalty interests (the Royalty Interests) in certain properties (the Royalty Properties) conveyed to the Trust by Devon SFS Operating, Inc. (Devon) (the Trust Agreement). The Trust is a passive entity, with the Trustee's primary responsibility being the collection and distribution of proceeds from the Royalty Interests and the payment of Trust liabilities and expenses. The Royalty Interests consist of two term royalty interests in two production units, the Wasson ODC Unit and the Wasson Willard Unit, in the Wasson field in west Texas (the Wasson Royalties), and a net profits royalty interest (the Net Profits Royalties) in certain royalty and working interest properties in a diversified portfolio of properties located predominantly in Texas, Louisiana and Oklahoma (the Net Profits Properties).