secwatch.observer — SEC 8-K summary
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Issuer:     SAN JUAN BASIN ROYALTY TRUST (SJT)
CIK:        0000319655
Form:       8-K
Filed at:   2025-12-19T23:59:59+00:00
Accession:  0001193125-25-326039
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

San Juan Basin Royalty Trust declares no December distribution; $6.3M net excess production costs remain
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- No monthly cash distribution declared for December due to $6,328,902 net excess production costs and low gas pricing.
- October 2025 revenue $5.3M ($5.12M gas, $181K oil); production costs $3.3M excluding excess balance.
- Gas volumes 2,297,504 Mcf at avg price $2.23/Mcf (up $0.14 from Sept); trust admin expenses $83,250.
- Line of credit principal now $387,808; cash reserves drawn to $23,175 after interest payment.
- Distributions will resume only after excess costs repaid, $2M reserve replenished, and credit line cleared.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319655/000119312525326039/0001193125-25-326039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319655/000119312525326039/sjt_december_2025_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-326039

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