{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-062514","form_type":"8-K","ticker":"SJT","cik":"0000319655","company_name":"SAN JUAN BASIN ROYALTY TRUST","filed_at":"2024-05-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.542997+00:00","generated_at":"2026-06-01T13:28:42.492040+00:00","sec_items":["2.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"San Juan Basin Royalty Trust declares no May 2024 distribution on excess costs, lower gas prices","bullets":["March 2024 production costs of $3.59M exceeded revenue of $3.16M, causing $432K gross excess costs ($324K net to Trust).","Average gas price fell to $1.50/Mcf in March 2024 from $3.06/Mcf in February 2024.","Trust used $249K of cash reserves to pay admin expenses; reserves now $1.55M, aiming for $2.0M.","No distributions until future net proceeds cover liabilities and replenish reserves.","Hilcorp's 2024 capital project plan drove a significant increase in lease operating expenses."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-062514","json":"https://secwatch.observer/filing/0000950170-24-062514.json","markdown":"https://secwatch.observer/filing/0000950170-24-062514.md","text":"https://secwatch.observer/filing/0000950170-24-062514.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/319655/000095017024062514/0000950170-24-062514-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/319655/000095017024062514/sjt_may_8-k_-_no_xbrl.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T13:28:42.492040+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}