Revenue: As of FY2026 Q2, the actual value is USD 0.

EPS: As of FY2026 Q2, the actual value is USD 0.

EBIT: As of FY2026 Q2, the actual value is USD -48.78 K.

Operational Decision

San Juan Basin Royalty Trust announced it would not declare a monthly cash distribution to unit holders for June 2026 . This decision was attributed to excess production costs for the Trust’s subject interests and continued low natural gas pricing .

Cumulative Excess Production Costs

• The balance of cumulative excess production costs is approximately $9,258,749 gross, or $6,944,062 net to the Trust .
• This represents an increase in the deficit of $774,601 gross, or $580,950 net to the Trust, from the prior month .

Total Revenue (April 2026)

• Total revenue from Subject Interests was $3,023,335 .
• This consisted of $2,646,258 in gas revenues and $377,077 in oil revenues .

Production Costs (April 2026)

• Production costs (excluding the balance of excess production costs) totaled $3,797,936 .
• These costs included $2,940,273 for lease operating expenses, $341,260 for severance taxes, and $516,403 for capital costs .

Gas Volumes

• Gas volumes for April 2026 totaled 2,065,583 Mcf (2,295,092 MMBtu) .
• This compares to 2,077,611 Mcf (2,308,457 MMBtu) for March 2026 .

Average Gas Price

• The average gas price for April 2026 was $1.28 per Mcf ($1.15 per MMBtu) .
• This was an increase of $0.08 per Mcf ($0.07 per MMBtu) compared to the March 2026 average gas price of $1.20 per Mcf ($1.08 per MMBtu) .

Trust Administrative Expenses

• Trust administrative expenses for June totaled $48,800 .
• These expenses will be covered by $19 in interest income and a $48,781 draw from the Line of Credit .

Line of Credit

• The outstanding principal balance on the Line of Credit will be $944,470 after the June draw .

Cash Reserves

• The balance of cash reserves maintained by the Trust is currently $3,891, unchanged from the prior month .

Outlook / Guidance

San Juan Basin Royalty Trust will not make cash distributions until future net proceeds are sufficient to repay the $6,944,062 net balance of cumulative excess production costs, replenish a $2,000,000 reserve, and repay the principal and interest on its Line of Credit . Once these conditions are met, the Trust will resume royalty income distributions . The Trust has been self-publishing monthly press releases on its website since July 21, 2025, due to depleted cash reserves and to conserve Line of Credit resources .