Substantial doubt about the company's ability to continue as a going concern.
“The anticipated deficit in income to pay the Trust's liabilities described above raises substantial doubt about the Trust's ability to continue as a going concern within one year after issuance date of the financial statements. The accompanying financial statements have been prepared assuming that the Trust will continue as a going concern; however, the above conditions raise substantial doubt about the Trust's ability to do so.”View the 10-Q filed Aug 13, 2026
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San Juan Basin Royalty Trust will not declare a monthly cash distribution for October 2026 because excess production costs and continued low natural gas pricing prevent royalty income; cumulative excess production costs are approximately $12,423,018 gross ($9,317,264 net).
San Juan Basin Royalty Trust reported approximately $1,075,400 outstanding on its $2,000,000 Texas Bank credit facility as of September 18, 2026, which matures May 21, 2027; the Trustee is discussing an extension, renewal, or replacement and reviewing other financing sources.
