San Juan Basin Royalty Trust Q2 2024 Earnings Report

San Juan Basin Royalty Trust EPS Results

• Actual EPS: $0.02
• Consensus EPS: N/A
• Beat/Miss: N/A
• One Year Ago EPS: N/A

San Juan Basin Royalty Trust Revenue Results

• Actual Revenue: $1.89 million
• Expected Revenue: N/A
• Beat/Miss: N/A
• YoY Revenue Growth: N/A

San Juan Basin Royalty Trust Announcement Details

• Quarter: Q2 2024
• Date: 8/14/2024
• Time: N/A
• Conference Call Date: Tuesday, August 20, 2024
• Conference Call Time: 4:00PM ET

San Juan Basin Royalty Trust (NYSE:SJT) (NYSE: SJT) is a statutory trust that owns and manages net overriding royalty interests in hydrocarbon production from properties located in the San Juan Basin of northwestern New Mexico and southwestern Colorado. Established in 1980 by Texaco as a vehicle to hold certain royalty interests, the trust generates revenue by collecting a percentage of production proceeds from oil, natural gas and natural gas liquids extracted from its acreage.

The trust’s primary business activity is the administration and distribution of royalties. It holds interests in a diversified portfolio of onshore wells operated by third‐party producers under long-term leases. Revenue is derived from monthly sales of hydrocarbons, with net proceeds remitted to unitholders after payment of operating expenses and trust administration fees. As a pass-through entity, it does not engage in drilling or field operations itself but relies on established exploration and production companies for day-to-day well management.

Since its formation, San Juan Basin Royalty Trust has been overseen by an independent trustee under New York law, with administrative services provided by a financial institution specializing in trust management. Over the decades, production from the San Juan Basin has matured, reflecting the natural decline of aging wells, yet ongoing drilling and secondary recovery techniques have sustained output. The trust’s structure ensures that all revenues attributable to its royalty interests are distributed directly to unit holders on a regular basis.

The San Juan Basin remains one of the most prolific gas-producing regions in the United States, known for its extensive Mesaverde and Dakota formations. While the trust’s underlying reserves continue to deplete over time, its historical performance highlights the value of acquiring and holding long-lived royalty interests. Governance is provided by the trustee, which monitors operator performance, oversees financial reporting and facilitates transparent distributions to beneficiaries of the trust.