Exhibit 23

 

Cawley, Gillespie & Associates, Inc.

 

petroleum consultants

 

6500 RIVER PLACE BLVD, SUITE 3-200

306 WEST SEVENTH STREET, SUITE 302

1000 LOUISIANA STREET, SUITE 1900

AUSTIN, TEXAS 78730-1111

FORT WORTH, TEXAS 76102-4987

HOUSTON, TEXAS 77002-5008

512-249-7000

817- 336-2461

713-651-9944

 

www.cgaus.com

 

 

San Juan Basin Royalty Trust

Argent Trust Company, Trustee

3838 Oak Lawn Avenue, Suite 1720

Dallas TX 75219

 

Ladies and Gentlemen:

 

Cawley, Gillespie & Associates, Inc. hereby consents to the use of the oil and gas reserve information in the San Juan Basin Royalty Trust Securities and Exchange Commission Form 10-K for the year ended December 31, 2025 and in the San Juan Basin Royalty Trust Annual Report for the year ended December 31, 2025 based on reserve reports prepared by Cawley, Gillespie & Associates, Inc. and dated March 8, 2026.

 

 

 

CAWLEY, GILLESPIE & ASSOCIATES, INC.

 

Texas Registered Engineering Firm F-693

 

img214436087_0.jpg

 

J. Zane Meekins, P. E.

 

Executive Vice President

 

 

Fort Worth, Texas

 

March 27, 2026