San Juan Basin Royalty Trust (SJT) Falls Following Suspension of Cash Distribution for December

Company Overview - San Juan Basin Royalty Trust (NYSE:SJT) operates as an express trust holding a 75% net overriding royalty interest in oil and natural gas properties in the San Juan Basin of northwestern New Mexico [2] Financial Performance - The company reported gross excess production costs of approximately $8.4 million due to Hilcorp drilling of two new horizontal wells in 2024 [4] - The Trust will not declare any cash distributions until it has repaid the balance of excess production costs, replenished a reserve of $2 million, and repaid the principal and interest on its line of credit at Texas Bank [4] Market Reaction - The share price of San Juan Basin Royalty Trust fell by 2.33% between December 17 and December 24, 2025, making it one of the energy stocks that lost the most during that week [1] - Despite the recent decline, the share price has increased by 31% since the beginning of 2025 [5] Distribution Policy - The company announced it would not declare any cash distributions for December, attributing this decision to excess production costs and low natural gas prices [3]