{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-053633","form_type":"8-K","ticker":"SJT","cik":"0000319655","company_name":"SAN JUAN BASIN ROYALTY TRUST","filed_at":"2026-02-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.357564+00:00","generated_at":"2026-05-16T02:36:36.675088+00:00","sec_items":["2.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"San Juan Basin Royalty Trust suspends Feb distribution; excess cost deficit hits $6.2M net","bullets":["No cash distribution declared for February 2026 due to cumulative excess production costs of $8.2M gross ($6.2M net).","Deficit increased $727K gross ($545K net) month-over-month; Hilcorp will apply all net proceeds to balance.","December 2025 gas volumes 2.12M Mcf; avg gas price $3.29/Mcf, up from $2.30/Mcf in November.","Trust drew $89,865 from line of credit for admin expenses; outstanding principal now $566,848.","Cash reserves reduced to $17,558 after using $3,068 for interest; distributions will not resume until deficit cleared."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-053633","json":"https://secwatch.observer/filing/0001193125-26-053633.json","markdown":"https://secwatch.observer/filing/0001193125-26-053633.md","text":"https://secwatch.observer/filing/0001193125-26-053633.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/319655/000119312526053633/0001193125-26-053633-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/319655/000119312526053633/sjt_february_2026_8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T02:36:36.675088+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"}