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An update from San Juan Basin Royalty ( (SJT) ) is now available.
On February 19, 2026, San Juan Basin Royalty Trust announced that operator Hilcorp Energy Company delivered its 2026 capital project plan for the trust’s subject interests, outlining an estimated $14 million in capital expenditures across 32 projects. The plan allocates about $11.5 million to new vertical and horizontal drilling in the Mesaverde, Mancos, and Dakota formations, $2 million to 17 recompletion and workover projects in Fruitland Coal and Pictured Cliffs, and $0.5 million to compression and related facility upgrades, with Hilcorp noting that assumptions and costs may be revised.
Hilcorp also reported that for 2025 it had originally projected $9 million in capital spending but ultimately invested about $8.3 million, split roughly evenly between drilling and recompletion/workover work. The uptick in planned 2026 spending compared with 2025 suggests a more aggressive development program for the trust’s underlying assets, which could influence future production volumes and cash flows to unitholders depending on execution and commodity price conditions.
Spark’s Take on SJT Stock
According to Spark, TipRanks’ AI Analyst, SJT is a Neutral.
San Juan Basin Royalty’s strong profitability and solid balance sheet are offset by significant revenue decline and zero cash flow, leading to potential liquidity issues. The technical indicators show limited momentum, while the high dividend yield provides a cushion. The absence of new earnings guidance or corporate events results in a neutral impact, leading to an overall moderate score.
To see Spark’s full report on SJT stock, click here.
More about San Juan Basin Royalty
San Juan Basin Royalty Trust is a U.S. oil and gas royalty trust that holds interests in natural gas and associated hydrocarbon production in the San Juan Basin, with revenues derived from operators’ development and production activities rather than operating wells itself. The trust is administered by Argent Trust Company and its units trade on the New York Stock Exchange under the ticker SJT.
Average Trading Volume: 199,823
Technical Sentiment Signal: Hold
Current Market Cap: $259.6M
Find detailed analytics on SJT stock on TipRanks’ Stock Analysis page.