secwatch.observer — SEC 8-K summary
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Issuer:     SAN JUAN BASIN ROYALTY TRUST (SJT)
CIK:        0000319655
Form:       8-K
Filed at:   2025-11-17T23:59:59+00:00
Accession:  0001193125-25-284245
Event type: dividend
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud

San Juan Basin Royalty Trust Declares No Cash Distribution for November 2025
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- Excess production costs balance is approx. $10,452,021 gross ($7,839,016 net to Trust), down $1,178,604 gross from prior month.
- No distributions until excess costs repaid, $2M reserve replenished, and line of credit principal ($306,674 outstanding) and interest paid.
- Gas volumes for September 2025 were 2,206,654 Mcf at avg price $2.09/Mcf, down from $2.29/Mcf in August 2025.
- Hilcorp reported total revenue of $4,725,794 and production costs of $3,547,190 for the Subject Interests in September 2025.
- Trust drew $13,234 from line of credit for administrative expenses, bringing outstanding balance to $306,674.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319655/000119312525284245/0001193125-25-284245-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319655/000119312525284245/sjt_november_2025_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-284245

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