secwatch.observer — SEC 8-K summary
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Issuer:     SAN JUAN BASIN ROYALTY TRUST (SJT)
CIK:        0000319655
Form:       8-K
Filed at:   2024-09-20T23:59:59+00:00
Accession:  0000950170-24-108273
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

San Juan Basin Royalty Trust declares no September cash distribution as production costs exceed revenue
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- No monthly distribution for September 2024; excess production costs of $11,517,368 gross ($8,638,026 net) carried forward.
- July 2024 production costs of $6,966,097 exceeded total revenue of $3,905,235, driven by Hilcorp's 2024 capital project.
- Gas volumes 1,891,889 Mcf; average gas price $1.94/Mcf, up from $1.41/Mcf in June but still low.
- Trust admin expenses $145,121; cash reserves used for payment now at $1,099,699, target $2.0M before distributions resume.
- No distributions until net proceeds sufficient; Trustee plans to replenish reserves and continues audit of Hilcorp.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319655/000095017024108273/0000950170-24-108273-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319655/000095017024108273/sjt_september_8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-108273

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