San Juan Basin Royalty Trust operator Hilcorp slashes 2025 capex to ~$9M vs $34M in 2024

SAN JUAN BASIN ROYALTY TRUST

2025 capital plan estimates $9.0M in expenditures, down from 2024's projected $34.0M.
Includes 7 new vertical drill projects ($4.0M) in Dakota/Mesaverde and 22 recompletions/workovers ($4.5M) in Fruitland Coal.
2024 actual capex through Nov totalled $33.6M, including $24.6M on two horizontal Mancos wells.
No new horizontal Mancos drilling planned for 2025; focus shifts to vertical wells and workovers.
Capital plan subject to revision; actual costs may vary from estimates.

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