On May 21, 2025, the San Juan Basin Royalty Trust announced the establishment of a new financial agreement with Texas Bank. The Trust entered into a promissory note to secure a revolving line of credit totaling $2,000,000. This line of credit is designed to manage the Trust's administrative expenses and address accrued excess production costs from recent drilling activities by Hilcorp San Juan L.P. The agreement includes a mortgage securing all assets of the Trust and allows for advances and repayments up until its maturity on May 21, 2027. The interest rate is set at the prime rate plus 1.00%, with a minimum rate of 6.50%, and can increase by 5.00% in the event of default. The Trust aims to resume net profits distributions to its unit holders after fulfilling its financial obligations under this agreement.
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