secwatch.observer — SEC 8-K summary
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Issuer:     SAN JUAN BASIN ROYALTY TRUST (SJT)
CIK:        0000319655
Form:       8-K
Filed at:   2024-11-18T23:59:59+00:00
Accession:  0000950170-24-127840
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

San Juan Basin Royalty Trust declares no November cash distribution; excess production costs of $13.4M net
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- No cash distribution for November 2024; excess production costs of $17.9M gross ($13.4M net to Trust) charged to next month.
- September 2024 revenue $2.85M vs production costs $5.57M; average gas price $1.42/Mcf, down from $1.79/Mcf in August.
- Gas volumes 1.87M Mcf vs 1.92M Mcf in August; cash reserves dropped to $0.96M from $1.8M in April.
- Excess costs driven by Hilcorp's 2024 capital project plan with $2.6M in capital costs and $2.6M in lease operating expenses.
- Trustee will replenish cash reserves to $2.0M before resuming distributions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319655/000095017024127840/0000950170-24-127840-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319655/000095017024127840/sjt_november_2024_8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-127840

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