SAN JUAN BASIN ROYALTY TRUST 8-K

What Happened

• The San Juan Basin Royalty Trust (SJT) announced by press release on February 19, 2026 that Hilcorp San Juan L.P. provided its 2026 Capital Expenditures (CapEx) Plan.
• The Trust furnished this information on Form 8-K (Item 7.01, Regulation FD Disclosure) filed February 20, 2026; the press release is attached as Exhibit 99.1.
• The filing notes the disclosure is “furnished” (per General Instruction B.2) and not “filed” for purposes of Section 18 liability. The Form 8-K was signed by Argent Trust Company, as Trustee, through Nancy Willis, Director of Royalty Trust Services.

Key Details

• Date of press release: February 19, 2026.
• Form 8-K filed: February 20, 2026 (Item 7.01 — Regulation FD Disclosure).
• Disclosure attached as Exhibit 99.1 (press release announcing receipt of Hilcorp’s 2026 CapEx Plan).
• The filing is furnished, not filed, under SEC rules (limits certain liabilities).

Why It Matters

• For investors in SJT, the operator’s 2026 CapEx Plan is a primary driver of future production, which in turn affects royalty volumes and potential distributions from the trust.
• This filing signals that investors can now review Hilcorp’s planned 2026 spending for the San Juan Basin to assess potential impacts on production trends and cash flow—details are in the attached press release.
• The 8-K does not report earnings, executive changes, or financial results; it simply furnishes the operator’s capital plan information. Investors should read the press release (Exhibit 99.1) for specifics on planned investment levels and timing.