---
title: "San Juan Basin Royalty Trust | 8-K: FY2025 Q4 Revenue: USD 5.302 M"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/270328289.md"
datetime: "2025-12-19T15:40:50.000Z"
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  - [zh-CN](https://longbridge.com/zh-CN/news/270328289.md)
  - [en](https://longbridge.com/en/news/270328289.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/270328289.md)
---

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# San Juan Basin Royalty Trust | 8-K: FY2025 Q4 Revenue: USD 5.302 M

Revenue: As of FY2025 Q4, the actual value is USD 5.302 M.

EBIT: As of FY2025 Q4, the actual value is USD 1.932 M.

### Financial Metrics Summary

#### Operational Metrics

-   The San Juan Basin Royalty Trust announced that it would not declare a monthly cash distribution for December due to excess production costs for the Trust’s subject interests during prior periods and continued low natural gas pricing.

#### Revenue and Production Costs

-   **Total Revenue**: Hilcorp reported $5,302,314 of total revenue from the Subject Interests for the production month of October 2025, consisting of $5,120,863 of gas revenues and $181,451 of oil revenues.
-   **Production Costs**: For the Subject Interests, Hilcorp reported $3,288,829 of production costs for October 2025, consisting of $2,870,986 of lease operating expenses, $265,067 of severance taxes, and $152,776 of capital costs.

#### Operational Metrics

-   **Excess Production Costs**: The balance of cumulative excess production costs is approximately $8,438,536 gross ($6,328,902 net to the Trust), a decrease of $2,013,485 gross ($1,510,114 net to the Trust) from the previous month.

#### Cash Flow

-   **Line of Credit**: A draw of $81,134 from the Line of Credit was used to pay the balance of Trust administrative expenses for November, bringing the outstanding principal balance on the Line of Credit to $387,808.

#### Unique Metrics

-   **Gas Volumes and Pricing**: Gas volumes for October 2025 totaled 2,297,504 Mcf (2,552,782 MMBtu), with an average gas price of $2.23 per Mcf ($2.01 per MMBtu), an increase from September 2025.

#### Outlook / Guidance

-   The Trust’s decision not to declare a cash distribution reflects ongoing financial challenges, including excess production costs and low natural gas prices, which are expected to continue impacting financial performance.
-   Future distributions will resume once net proceeds are sufficient to repay the balance of excess production costs, replenish a reserve, and repay the principal and interest on the Trust’s line of credit.

### 相关股票

- [San Juan Basin Royalty Trust (SJT.US)](https://longbridge.com/zh-CN/quote/SJT.US.md)

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