SAN JUAN BASIN ROYALTY TRUST (SJT) Latest Filing Signal

Based on earningsVibe SuperAnalyst™ synthesis of the latest 10-K, SAN JUAN BASIN ROYALTY TRUST's filing signal continuing negative.

San Juan Basin Royalty Trust holds a 75% net overriding royalty interest in oil and natural gas properties located in the San Juan Basin of northwestern New Mexico. The Trust's primary asset is this royalty interest, which generates income based on 75% of the net proceeds Hilcorp, the operator, receives from the sale of oil and natural gas produced from the Subject Interests. As of December 31, 2025, 99.1% of the Trust's estimated proved reserves consisted of natural gas. The Trust's income and distributions to Unit Holders are heavily influenced by natural gas prices and Hilcorp's production costs, which have recently led to significant "Excess Production Costs" that must be recovered before distributions can resume.

Revenue is driven by the net overriding royalty interest in oil and natural gas production from the San Juan Basin properties. The amount received is 75% of the net proceeds, calculated as gross proceeds from sales minus production costs incurred by the operator, Hilcorp.