San Juan Basin Royalty Trust Pauses September Distribution

What Happened
San Juan Basin Royalty Trust (SJT) filed an 8-K on September 18, 2026 (Item 2.02) announcing it will not declare the Trust’s monthly cash distribution for September. The Trust said the decision was driven by excess production costs for the Trust’s subject interests and continued low natural gas pricing. The announcement was made via a press release attached as Exhibit 99.1.

Key Details

• Filing date: September 18, 2026 (Form 8-K, Item 2.02).
• Event: No monthly cash distribution declared for September to holders of units of beneficial interest.
• Reasons cited: excess production costs for the Trust’s subject interests and continued low natural gas prices.
• Administrative: Press release attached as Exhibit 99.1; the 8-K information is furnished (not filed) under General Instruction B.2. The report was signed by Argent Trust Company, as Trustee, by Nancy Willis, Director of Royalty Trust Services.

Why It Matters
A pause in the monthly cash distribution reduces near-term cash returns for unit holders and is material information for investors who rely on the Trust’s regular income. The stated causes—higher production costs and low natural gas prices—reflect operational and commodity-price pressures that could affect future distributions. Investors should review the attached press release and monitor subsequent filings and commodity-price developments for indications of future distribution timing or amounts.