SAN JUAN BASIN ROYALTY TRUST 8-K

What Happened
The San Juan Basin Royalty Trust (SJT) filed an 8-K on March 20, 2026 (Item 2.02), announcing it will not declare a monthly cash distribution to holders of its units of beneficial interest ("Units") for March. The Trust cited excess production costs for its subject interests incurred during prior periods and continued low natural gas pricing as the reasons for the suspension. The announcement was made via a press release attached as Exhibit 99.1. The Form 8-K states the information is being furnished, not filed, in accordance with Form 8-K instructions.

Key Details

• Filing date: March 20, 2026 (Form 8-K, Item 2.02 — Results of Operations and Financial Condition).
• Action: No monthly cash distribution declared for March to holders of Units.
• Reasons given: excess production costs from prior periods and continued low natural gas pricing.
• Administrative: Press release attached as Exhibit 99.1; report furnished (not filed). Signature by Argent Trust Company, as trustee, via Nancy Willis.

Why It Matters

• Unitholders will not receive the expected March cash payment, reducing near-term income from the trust.
• The trust’s distributions are sensitive to production costs and natural gas prices; this filing highlights those operational and commodity-price pressures affecting cash payouts.
• Investors tracking yield, monthly distributions, or trust cash flow should note the suspension and monitor future announcements for when distributions may resume.