secwatch.observer — SEC 8-K summary
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Issuer:     SAN JUAN BASIN ROYALTY TRUST (SJT)
CIK:        0000319655
Form:       8-K
Filed at:   2024-06-17T23:59:59+00:00
Accession:  0000950170-24-074074
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319655/000095017024074074/0000950170-24-074074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319655/000095017024074074/sjt_june_8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-074074

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