SAN JUAN BASIN ROYALTY TRUST 8-K

What Happened
On April 20, 2026, San Juan Basin Royalty Trust (SJT) filed an 8‑K (Item 2.02) and issued a press release (Exhibit 99.1) announcing it will not declare a monthly cash distribution for April. The trustee cited excess production costs for the Trust’s subject interests incurred in prior periods and continued low natural gas pricing as the reasons for suspending the distribution.

Key Details

• Date filed: April 20, 2026; disclosure made via press release attached as Exhibit 99.1.
• Event: No monthly cash distribution declared for April to holders of units of beneficial interest.
• Reasons given: excess production costs from prior periods and continued low natural gas prices.
• Administrative: Report furnished under Form 8‑K general instruction B.2; report signed by Argent Trust Company as Trustee (Nancy Willis, Director of Royalty Trust Services).

Why It Matters
Unit holders will not receive a cash payment for April, reducing near‑term income from the trust. The suspension reflects higher historical production costs and weak commodity prices, which directly affect distributions tied to oil and gas receipts. Investors should monitor further updates from the trustee and future 8‑K/press releases for information on when distributions might resume.