San Juan Basin Royalty Trust Suspends August Distribution

What Happened
San Juan Basin Royalty Trust (SJT) announced on August 21, 2026 (press release attached as Exhibit 99.1) that it will not declare a monthly cash distribution for August. The Trust cited excess production costs for its subject interests and continued low natural gas pricing as the reasons for withholding the distribution. The 8-K was furnished under Item 2.02 (Results of Operations and Financial Condition).

Key Details

• Date: August 21, 2026 — press release attached to the 8-K as Exhibit 99.1.
• Distribution: No monthly cash distribution declared for August 2026.
• Reasons given: Excess production costs for the Trust’s subject interests and continued low natural gas prices.
• Administrative: 8-K signed by Argent Trust Company as Trustee (Nancy Willis, Director of Royalty Trust Services); information is furnished, not filed.

Why It Matters
For unit holders, the suspension means no cash payout for August, reducing near-term income from the Trust’s monthly distributions. The filing signals that production expenses plus weak natural gas prices can directly erode distributable cash flow — a key risk for investors relying on regular distributions. This notice is a distribution update, not a full earnings or revenue report, but it is a material operational development affecting monthly cash returns.