San Juan Basin Royalty Trust declares no August 2024 distribution due to excess production costs and low gas prices

SAN JUAN BASIN ROYALTY TRUST

June 2024 revenue was $2,851,950 vs. production costs of $6,419,934; excess costs of $8,456,506 gross ($6,342,379 net) deferred to future months.
Average gas price $1.41/Mcf ($1.27/MMBtu) for June 2024, up from $1.14/Mcf ($1.02/MMBtu) in May 2024.
Admin expenses $187,698 for August 2024; cash reserves drawn to $1,239,141 with plan to replenish to $2.0M before resuming distributions.
Hilcorp's 2024 capital project plan cited as main driver of elevated lease operating expenses and capital costs.

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