{"filing":{"accession_number":"0001193125-26-310097","cik":"0000319655","ticker":"SJT","company_name":"SAN JUAN BASIN ROYALTY TRUST","form":"8-K","filing_date":"2026-07-21","report_date":null,"primary_document":"july_2026_8-k.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/319655/000119312526310097/july_2026_8-k.htm"},"events":[{"id":19063,"run_id":17156,"accession_number":"0001193125-26-310097","anchor_item_number":"2.02","event_type":"dividend_distribution","event_domain":"financial","is_material":true,"confidence":0.92,"summary":"San Juan Basin Royalty Trust announced it will not declare a monthly cash distribution for July 2026 due to excess production costs (~$9.6M gross) and low natural gas pricing. No distributions will be made until excess production costs are repaid, reserves are replenished, and line-of-credit debt is serviced, representing a material suspension of the Trust's primary distribution to unitholders.","company_name":"SAN JUAN BASIN ROYALTY TRUST","ticker":"SJT","filing_date":"2026-07-21","form":"8-K","submitted_at":null,"items":[{"id":18055,"accession_number":"0001193125-26-310097","item_number":"2.02","item_title":"Results of Operations and Financial Condition.","event_type":"dividend_distribution","event_domain":"financial","is_material":true,"confidence":0.92,"reasoning":"The Trust announced it will not declare a monthly cash distribution for July 2026 due to excess production costs and low natural gas pricing. While framed as a non-declaration, this is a material disclosure about dividend/distribution policy—the Trust's primary purpose is distributing royalty income to unitholders. The announcement specifies that no distributions will be made until excess production costs (~$9.6M gross) are repaid, a reserve is replenished, and line-of-credit debt is serviced, making this a significant change to distribution expectations that would materially affect investor assessment.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-21T18:52:44.810513+00:00","company_name":"","ticker":null,"filing_date":""},{"id":18056,"accession_number":"0001193125-26-310097","item_number":"7.01","item_title":"Regulation FD Disclosure","event_type":"financial_other","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"The disclosure announces that the Trust will not declare a monthly cash distribution for July 2026 due to excess production costs ($9.6M gross, $7.2M net) and low natural gas pricing. This is a material financial event affecting unitholders' returns. While the filing is technically a Regulation FD disclosure (Item 7.01), the substance is a dividend suspension tied to operational and financial stress—excess production costs, debt obligations, and cash reserve depletion. The event does not fit neatly into `dividend_distribution` (which typically covers declarations or payments) but is clearly a material financial event warranting disclosure to investors.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-21T18:52:44.810513+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":18055,"accession_number":"0001193125-26-310097","item_number":"2.02","item_title":"Results of Operations and Financial Condition.","event_type":"dividend_distribution","event_domain":"financial","is_material":true,"confidence":0.92,"reasoning":"The Trust announced it will not declare a monthly cash distribution for July 2026 due to excess production costs and low natural gas pricing. While framed as a non-declaration, this is a material disclosure about dividend/distribution policy—the Trust's primary purpose is distributing royalty income to unitholders. The announcement specifies that no distributions will be made until excess production costs (~$9.6M gross) are repaid, a reserve is replenished, and line-of-credit debt is serviced, making this a significant change to distribution expectations that would materially affect investor assessment.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-21T18:52:44.810513+00:00","company_name":"SAN JUAN BASIN ROYALTY TRUST","ticker":"SJT","filing_date":"2026-07-21"},{"id":18056,"accession_number":"0001193125-26-310097","item_number":"7.01","item_title":"Regulation FD Disclosure","event_type":"financial_other","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"The disclosure announces that the Trust will not declare a monthly cash distribution for July 2026 due to excess production costs ($9.6M gross, $7.2M net) and low natural gas pricing. This is a material financial event affecting unitholders' returns. While the filing is technically a Regulation FD disclosure (Item 7.01), the substance is a dividend suspension tied to operational and financial stress—excess production costs, debt obligations, and cash reserve depletion. The event does not fit neatly into `dividend_distribution` (which typically covers declarations or payments) but is clearly a material financial event warranting disclosure to investors.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-21T18:52:44.810513+00:00","company_name":"SAN JUAN BASIN ROYALTY TRUST","ticker":"SJT","filing_date":"2026-07-21"}]}