SAN JUAN BASIN ROYALTY TRUST 8-K

What Happened

• On June 18, 2026, San Juan Basin Royalty Trust (SJT) announced via Form 8-K and an attached press release that it will not declare a monthly cash distribution to holders of its units of beneficial interest for June. The Trust cited excess production costs on its subject interests and continued low natural gas pricing as the reasons for the suspension. The filing was furnished under Item 2.02 (Results of Operations and Financial Condition).

Key Details

• Filing date: June 18, 2026 (Form 8-K, Item 2.02).
• Distribution: No monthly cash distribution declared for June 2026 to unit holders.
• Reasons given: Excess production costs for the Trust’s subject interests and continued low natural gas prices.
• Administrative: Press release attached as Exhibit 99.1; information is furnished (not filed) under SEC Form 8-K instruction B.2. The report was signed by Argent Trust Company as trustee, by Nancy Willis, Director of Royalty Trust Services.

Why It Matters

• For investors, this means no cash payout for June, reducing expected short-term income from SJT units.
• The suspension reflects lower distributable revenue caused by commodity price weakness (natural gas) and higher production costs — factors that directly affect royalty-trust payouts.
• This announcement is limited to the June distribution; the Trust did not state a permanent policy change. Investors should monitor future monthly releases and commodity price trends for indications of when distributions may resume.