San Juan Basin Trust Skips October Payout as $9.32M Cost Deficit Persists
SJT sits 59% above its 52-week low of $2.37.
Summary
No October distribution for unitholders — the third straight month without a payout. Net excess production costs sit at roughly $9.32M, and every dollar of net proceeds goes toward clearing that deficit before any royalty income reaches holders. The deficit did shrink by about $97.8K month-over-month, but that is a rounding error against a nine-figure-scale hole, and August gas averaged just $2.28/Mcf. The line of credit is now drawn to $1.16M and must be repaid with interest, plus the $2.0M reserve rebuilt, before distributions can restart. This follows the August and September 8-Ks that already flagged no distribution as the deficit climbed from $11.4M to $12.6M, and the September 28 disclosure that the $2M credit facility is being extended or replaced.
At the time of this announcement, SJT was trading at $3.76 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $172M. The 52-week trading range was $2.37 to $6.55. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.