San Juan Basin Royalty Trust skips Feb 2025 distribution amid low gas prices, excess costs

SAN JUAN BASIN ROYALTY TRUST

No February 2025 cash distribution to unit holders due to low natural gas prices and excess production costs.
December 2024 revenue from subject interests totaled $8.69M; production costs were $6.46M.
Cumulative excess production costs: $27.3M gross ($20.5M net to Trust), down $2.2M from prior month.
Cash reserves used to pay $139k in admin expenses; remaining $512k, with target to replenish to $2.0M.
Hilcorp's 2025 capital plan for Subject Interests estimates $9.0M expenditure on 29 projects.

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