San Juan Basin Royalty Trust skips June 2024 distribution; production costs exceed revenue by $1.2M

SAN JUAN BASIN ROYALTY TRUST

No monthly cash distribution for June 2024 due to lower natural gas prices and production costs exceeding proceeds.
Hilcorp reported $2.47M revenue vs $3.26M production costs for April 2024, creating $1.22M gross excess costs.
Average gas price fell to $1.24/Mcf in Apr 2024 from $1.50/Mcf in Mar 2024.
Trustee increased cash reserves to $1.8M; plans to build to $2.0M before resuming distributions.
Cash reserves of $82,913 used to pay June 2024 Trust administrative expenses; balance now $1.47M.

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