Stock Taper 
The San Juan Basin Royalty Trust, based in Houston since 1980, holds a 75% net overriding royalty interest in 119,000 acres and 1,140 wells across New Mexico’s San Juan Basin, with BBVA USA as trustee.
A unit of beneficial interest entitles holders to share in profits from San Juan Basin oil and gas sales, with distributions suspended due to costs exceeding revenues.
In a series of announcements throughout 2025, San Juan Basin Royalty Trust (SJT) confirmed the suspension of its monthly cash distributions to unitholders. The halt in payments was attributed to significant 'excess production costs' stemming from two new horizontal wells drilled in 2024. This situation led to the complete depletion of the Trust's cash reserves and necessitated the establishment of a line of credit in May 2025 to cover administrative expenses.
Facing depleted cash reserves and a halt in royalty income due to prior-year's heavy capital expenditures and low natural gas prices, the Trust's leadership made the critical decision to establish a $2 million line of credit. This move was essential to cover ongoing administrative expenses and ensure the Trust's operational continuity while it awaits the recovery of 'excess production costs' by the field operator.
Hess Midstream Partners (NYSE: HESM - Get Free Report) and San Juan Basin Royalty Trust (NYSE: SJT - Get Free Report) are both energy companies, but which is the better investment? We will contrast the two companies based on the strength of their profitability, valuation, institutional ownership, analyst recommendations, earnings, risk and dividends. Profitability This table compares
Overall rating: D+
| PEER | PRICE | |
|---|---|---|
 SBR | $73.28 | COMPARE |
 NRT | $8.44 | COMPARE |
 CRT | $11.37 | COMPARE |
 PVL | $1.81 | COMPARE |
 VOC | $3.38 | COMPARE |
 PRT | $1.77 | COMPARE |
 MARPS | $4.27 | COMPARE |
 MTR | $2.16 | COMPARE |
