Argent Trust skips October payout for San Juan Basin Royalty Trust stock

Published on 10/21/2026 at 00:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Excess costs reached USD 12.42 million on October 20, 2026. October brings no payout for San Juan Basin Royalty Trust stock.

Liquidity and distributions

The trust reported USD 12,423,018 in excess production costs on October 20, 2026.
August 2026 revenue totaled USD 4.87 million against USD 4.74 million in production costs.
San Juan Basin Royalty Trust had a USD 161.7 million market capitalization as of October 20, 2026.

SJT, US7982411057, Illustration mit AI erstellt.

San Juan Basin Royalty Trust (ISIN US7982411057) reported on October 20, 2026 that it would make no cash distribution for October as cumulative excess production costs reached USD 12,423,018, according to San Juan Basin Royalty Trust. The trust's liquidity position remains the central issue for unitholders.

August revenue barely covered costs

For the August 2026 production month, Hilcorp reported USD 4,868,781 of revenue from the subject interests and USD 4,738,333 in production costs. The figures leave only USD 130,448 before the excess-cost balance, reserves and credit obligations are considered, according to TradingView.

What does the liquidity gap mean?

Gas revenue improved in August 2026, with the average price rising to USD 2.28 per Mcf from USD 2.01 per Mcf in July 2026. Even so, all net proceeds are being applied to excess production costs until the balance is repaid, a USD 2,000,000 reserve is replenished and the credit line is settled.

The chronology shows how the pressure developed. On September 18, 2026, the credit facility had USD 1,075,400 outstanding; on September 28, 2026, the trust disclosed a USD 2,000,000 facility maturing on May 21, 2027; and on October 20, 2026, the trust reported the USD 12,423,018 excess-cost balance and no October distribution, according to StockTitan and San Juan Basin Royalty Trust.

May 2027 maturity sets the next date

The next concrete financial date is May 21, 2027, when the Texas Bank credit facility matures. On October 20, 2026, a USD 80,101 draw lifted outstanding principal to USD 1,155,501, while cash reserves stood at USD 3,891, according to TradingView.

Stock valuation reflects the payout halt

SJT units were last at USD 3.47 on the NYSE on October 20, 2026 at 4:00 p.m. ET, and the trust had a market capitalization of USD 161.7 million. Its 52-week range was USD 2.37 to USD 6.55 on the same market-data date.