---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-149186"
form_type: "8-K"
ticker: "SJT"
cik: "0000319655"
company_name: "SAN JUAN BASIN ROYALTY TRUST"
filed_at: "2023-05-19T23:59:59+00:00"
generated_at: "2026-06-14T20:10:18.527996+00:00"
event_type: "dividend"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# San Juan Basin Royalty Trust declares May distribution of $0.0527/unit; gas price drops to $3.00/Mcf

## Summary
- Monthly distribution of $2.46M ($0.052724/unit) payable June 14, 2023, based on March production.
- Gas volumes rose to 2.08M Mcf (2.31M MMBtu) from 1.65M Mcf in prior month.
- Average gas price fell to $3.00/Mcf ($2.70/MMBtu) from $6.29/Mcf ($5.66/MMBtu) in February 2023.
- Net profits reported by Hilcorp: $3.61M; total revenue $6.43M, production costs $2.83M.
- Trust continues comprehensive audit of Hilcorp's accounting and pricing.

## SEC filing metadata
- accession: 0001193125-23-149186
- form_type: 8-K
- ticker: SJT
- cik: 0000319655
- company_name: SAN JUAN BASIN ROYALTY TRUST
- filed_at: 2023-05-19T23:59:59+00:00
- event_type: dividend
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319655/000119312523149186/0001193125-23-149186-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319655/000119312523149186/d509214d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-149186
- JSON: https://secwatch.observer/filing/0001193125-23-149186.json
- Plain text: https://secwatch.observer/filing/0001193125-23-149186.txt

## Key facts
- Earnings Releases
  SAN JUAN BASIN ROYALTY TRUST reported the production month of March 2023 results: revenue $6,434,183 of total revenue, net income $2,457,421.28 or $0.052724 per Unit.
  - Period: the production month of March 2023
  - Revenue: $6,434,183 of total revenue
  - Net income: $2,457,421.28 or $0.052724 per Unit
  - Result: reported results
  source text: Interests, Hilcorp Energy Company (collectively, “Hilcorp”), reported to the Trust net profits of $3,607,479 ($2,705,609 net royalty amount to the Trust). Hilcorp reported $6,434,183 of total revenue from the Subject Interests for the production month of March 2023, consisting of $6,239,196 of gas revenues and $194,987 of oil revenues. For the Subject
  evidence_url: https://www.sec.gov/Archives/edgar/data/319655/000119312523149186/0001193125-23-149186-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.