San Juan Basin Royalty Trust declares no cash distribution for April 2026 due to excess costs, low gas prices

SAN JUAN BASIN ROYALTY TRUST

Cumulative excess production costs $6.63M gross ($4.97M net to Trust), up $445K from prior month.
No distributions until excess costs, $2M reserve, and line of credit ($872K balance) are fully repaid.
Feb 2026 gas volumes 1.89M Mcf, avg price $2.70/Mcf, down $0.26/Mcf from Jan.
Total revenue $5.24M vs. production costs $5.68M (excl. excess), resulting in net deficit.
Trust drew $122K from line of credit for admin expenses; line balance now $872K.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.92

SAN JUAN BASIN ROYALTY TRUST reported production month of February 2026 results: revenue $5,237,354.

Period: production month of February 2026
Revenue: $5,237,354
Result: reported results

Exact text from the filing

Hilcorp reported $5,237,354 of total revenue from the Subject Interests for the production month of February 2026, consisting of $5,108,104 of gas revenues, $129,250 of oil revenues.

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Source: SEC EDGAR

accession 0001193125-26-163687

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