secwatch.observer — SEC 8-K summary
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Issuer:     SAN JUAN BASIN ROYALTY TRUST (SJT)
CIK:        0000319655
Form:       8-K
Filed at:   2025-04-17T23:59:59+00:00
Accession:  0000950170-25-055071
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

San Juan Basin Royalty Trust declares no April 2025 distribution; excess costs $12.9M net
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- No distribution for April 2025; $3.4M net proceeds applied to Hilcorp's excess production costs.
- Cumulative excess production costs balance $17.2M gross ($12.9M net to Trust), down $3.4M from prior month.
- Feb 2025 gas volumes 2.29M Mcf at avg $3.36/Mcf vs Jan volumes 2.69M Mcf at $3.74/Mcf.
- Cash reserves for admin expenses now $117.8K; Trustee targets $2M reserve and evaluating credit options.
- No distributions until excess costs fully repaid and cash reserves restored.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319655/000095017025055071/0000950170-25-055071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319655/000095017025055071/sjt_april_2025_8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-055071

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