{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-019941","form_type":"8-K","ticker":"SJT","cik":"0000319655","company_name":"SAN JUAN BASIN ROYALTY TRUST","filed_at":"2025-02-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.954614+00:00","generated_at":"2026-05-26T22:28:07.469083+00:00","sec_items":["7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"San Juan Basin Royalty Trust operator Hilcorp slashes 2025 capex to ~$9M vs $34M in 2024","bullets":["2025 capital plan estimates $9.0M in expenditures, down from 2024's projected $34.0M.","Includes 7 new vertical drill projects ($4.0M) in Dakota/Mesaverde and 22 recompletions/workovers ($4.5M) in Fruitland Coal.","2024 actual capex through Nov totalled $33.6M, including $24.6M on two horizontal Mancos wells.","No new horizontal Mancos drilling planned for 2025; focus shifts to vertical wells and workovers.","Capital plan subject to revision; actual costs may vary from estimates."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-019941","json":"https://secwatch.observer/filing/0000950170-25-019941.json","markdown":"https://secwatch.observer/filing/0000950170-25-019941.md","text":"https://secwatch.observer/filing/0000950170-25-019941.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/319655/000095017025019941/0000950170-25-019941-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/319655/000095017025019941/sjt-20250213.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T22:28:07.469083+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"}