SJT Skips September Distribution as Deficit Grows to $12.6M
SJT sits 27% above its 52-week low of $2.37 on elevated volume (3.5× avg).
Summary
San Juan Basin Royalty Trust announced no September distribution as its excess production cost deficit grew to $12.6 million gross, with the line of credit balance rising to $1.08 million.
Key Events · Earnings and Guidance · SJT
-
No September Distribution Declared
The Trust will not declare a monthly cash distribution for September 2026 due to excess production costs and continued low natural gas pricing.
-
Deficit Grows to $12.6M Gross
Cumulative excess production costs increased by $1,122,634 gross ($841,976 net) to $12,553,466 gross ($9,415,100 net to the Trust).
-
Line of Credit Balance Rises
A $44,606 draw brings the outstanding principal balance on the Line of Credit to $1,075,400, with cash reserves unchanged at $3,891.
-
July Production Data Disclosed
July 2026 revenue was $4,293,096 against production costs of $5,415,731. Average gas price improved to $2.01/Mcf from $1.46/Mcf in June.
Analysis · SJT · Energy & Transportation
The Trust's excess production cost deficit grew by $1.1 million to $12.6 million gross, extending the distribution suspension into a third consecutive month. The line of credit balance rose to $1.08 million as the Trust draws on it to cover administrative expenses. July production data shows gas prices improved to $2.01/Mcf from $1.46/Mcf in June, but production costs of $5.4 million still exceeded revenue of $4.3 million. The Trust will not resume distributions until the deficit is repaid, a $2 million reserve is replenished, and the line of credit is paid off — a timeline that remains uncertain.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SJT was trading at $3.02 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $140.6M. The 52-week trading range was $2.37 to $6.61. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.