The San Juan Basin is known for its significant natural gas reserves, and a substantial portion of SJT's income comes from natural gas production. Since SJT does not engage in active operations, its overhead costs are minimal, with primary expenses including administrative fees, trustee fees, and taxes. The trust is structured to distribute the majority of its income to unit holders.
Cyborg Score Rationale
SJT offers stable passive income through natural gas royalties with low operating costs, but faces operational risk through dependence on third-party operator decisions (Hilcorp) and exposure to commodity price volatility in declining energy markets.
Top Insights
The trust owns working interests, royalty interests, overriding royalty interests, and other contractual rights in 119,000 net-producing acres across San Juan, Rio Arriba, and Sandoval Counties in northwestern New Mexico.
Hilcorp has significant influence over SJT income through its operating decisions and marketing contracts, exposing the trust to risk through reliance on Hilcorp reporting and pricing.
The trust distributes royalty income to unit holders on a monthly basis.
Named Competitors
Permian Basin Royalty Trust — Oil and gas royalty trust in the Permian Basin
Hugoton Royalty Trust — Natural gas and crude oil royalty trust
Cross Timbers Royalty Trust — Oil and natural gas royalty trust
Recent Developments
(July 2026) Argent Trust Company announced the trust will not declare a monthly distribution due to operational challenges
(July 2017) Hilcorp San Juan LP completed its purchase of San Juan Basin assets from ConocoPhillips, assuming operational control of SJT's underlying properties
Open the full interactive San Juan Basin Royalty Trust report
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