---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-060515"
form_type: "8-K"
ticker: "SJT"
cik: "0000319655"
company_name: "SAN JUAN BASIN ROYALTY TRUST"
filed_at: "2026-02-20T23:59:59+00:00"
generated_at: "2026-05-16T01:35:31.911661+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Hilcorp 2026 capex plan for SJT: $14M with 15 new drill projects, up from $8.3M in 2025

## Summary
- Operator Hilcorp estimates 2026 capex at ~$14M, up from actual $8.3M in 2025.
- $11.5M for 15 new drill projects (9 vertical, 6 horizontal) across Mesaverde, Mancos, Dakota formations.
- $2M for 17 recompletions/workovers in Fruitland Coal and Pictured Cliffs; $0.5M for facilities.

## SEC filing metadata
- accession: 0001193125-26-060515
- form_type: 8-K
- ticker: SJT
- cik: 0000319655
- company_name: SAN JUAN BASIN ROYALTY TRUST
- filed_at: 2026-02-20T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319655/000119312526060515/0001193125-26-060515-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319655/000119312526060515/sjt_feb._26_budget_no_xb.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-060515
- JSON: https://secwatch.observer/filing/0001193125-26-060515.json
- Plain text: https://secwatch.observer/filing/0001193125-26-060515.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.