SJT

San Juan Basin Royalty Trust

A royalty trust that owns a share of oil and natural gas production from the San Juan Basin in northwestern New Mexico. Rather than drilling wells itself, it collects a slice of the profits that an operating company earns from selling the gas and oil, then passes that money along to its unitholders. It was created in 1980 when Southland Royalty Company carved out this interest and placed it in a trust managed by a bank, and it takes its name from the basin's gas-rich rock. A fun piece of local lore: the basin's first commercial gas well, drilled in 1922, was said to blow with a roar loud enough to be heard ten miles away in Farmington, New Mexico.

Units of Beneficial Interest