San Juan Basin Royalty Trust declares no May 2024 distribution on excess costs, lower gas prices

SAN JUAN BASIN ROYALTY TRUST

March 2024 production costs of $3.59M exceeded revenue of $3.16M, causing $432K gross excess costs ($324K net to Trust).
Average gas price fell to $1.50/Mcf in March 2024 from $3.06/Mcf in February 2024.
Trust used $249K of cash reserves to pay admin expenses; reserves now $1.55M, aiming for $2.0M.
No distributions until future net proceeds cover liabilities and replenish reserves.
Hilcorp's 2024 capital project plan drove a significant increase in lease operating expenses.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.