UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   Form 10-K/A AMENDMENT NO. 1    ☒
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2022 or  ☐
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from
to Commission File
No. 001-08032   San Juan
Basin Royalty Trust (Exact name of registrant as specified in the Amended and Restated San Juan Basin Royalty Trust Indenture)    Texas

75-6279898(State or other jurisdiction of
incorporation or organization)

(I.R.S. EmployerIdentification No.)PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056

77056(Address of principal executive offices)

(Zip Code) (866) 809-4553 (Registrants telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act:  Title of Each Class

Trading
Symbol

Name of Each Exchange
on Which RegisteredUnits

SJT

New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None (Title of Class)   Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities
Act.    Yes  ☐    No  ☒ Indicate by check mark if the registrant
is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  ☐    No  ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90
days.    Yes☒    No  ☐ Indicate by check mark whether
the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405
of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☐    No  ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting
company, and emerging growth company in Rule 12b-2 of the Exchange Act.  Large accelerated filer

☐

Accelerated filer

☐Non-accelerated filer

☒

Smaller reporting company

☒Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ Indicate by check mark whether the registrant has filed a report on and attestation to its managements assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.  ☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the
registrant included in the filing reflect the correction of an error to previously issued statements.  ☐ Indicate by
check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrants executive officers during the relevant recovery period pursuant to Section 240.10D-1(b).  ☐ Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Act).    Yes  ☐    No☒ Aggregate market value of the Units held by non-affiliates of the registrant as of June 30, 2022: $404,217,149 At March 31, 2023, there were 46,608,796 Units of the registrant outstanding. DOCUMENTS INCORPORATED BY REFERENCE None.




---

EXPLANATORY NOTE San Juan Basin Royalty Trust (the Trust) is filing this Amendment No. 1 (this Amendment) to its Annual Report on
Form 10-K for the fiscal year ended December 31, 2022, as filed with the Securities and Exchange Commission on March 31, 2023 (the Original 10-K),
solely for the purpose of filing a revised certification required by Rule 13a-14(b). The corrected certification is attached to this Amendment as Exhibit 32. The Trust is filing revised Exhibit 32, dated as of the date hereof, solely in order to include a date that was inadvertently omitted from
such exhibit when originally filed. In addition, the Companys Trustee has provided a new certification required by Rule 13a-14(a) in connection with the Amendment, dated as of the date hereof. This
certification is attached to this Amendment as Exhibit 31. Except as described above, this Amendment makes no other changes to the Original 10-K. Accordingly, this Amendment should be read in conjunction with
the Original 10-K.  ITEM 15.
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES The following documents are filed as a part of this Annual Report on Form 10-K: Financial Statements Included in Part II
of this Annual Report on Form 10-K: Report of Independent Registered Public Accounting Firm Statements of Assets, Liabilities and Trust Corpus Statements of
Distributable Income Statements of Changes in Trust Corpus Notes to Financial Statements Financial Statement Schedules Financial statement schedules are omitted because of the absence of conditions under which they are required or because the required
information is given in the financial statements or notes thereto.




---

Exhibit
Number

Description4(a)

San Juan Basin Amended and Restated Royalty Trust Indenture, dated December 
12, 2007, filed as Exhibit 99.2 to the Trusts Current Report on Form 8-K filed with the SEC on December 14, 2007, and incorporated herein by reference*4(b)

Net Overriding Royalty Conveyance from Southland Royalty Company to The Fort Worth National Bank, as Trustee, dated November 
3, 1980 (without Schedules), filed as Exhibit 4(b) to the Trusts Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2006, incorporated herein by reference*4(c)

Assignment of Net Overriding Interest (San Juan Basin Royalty Trust), dated September 
30, 2002, between Bank One, N.A. and TexasBank, filed as Exhibit 4(c) to the Trusts Quarterly Report on Form 10-Q filed with the SEC for the quarter ended September 
30, 2002, incorporated herein by reference*4(d)

Description of San Juan Basin Royalty Trusts Securities, filed as Exhibit 4(d) to the Trusts Annual Report on Form 10-K file with the SEC for the year ended December 31, 2019, incorporated herein by reference*10

Indemnification Agreement, dated May 13, 2003, with effectiveness as of July 
30, 2002, by and between Lee Ann Anderson and San Juan Basin Royalty Trust, heretofore filed as Exhibit 10(a) to the Trusts Quarterly Report on Form 10-Q filed with the SEC for the quarter ended March 31,
 2003, is incorporated herein by reference*23

Consent of Cawley, Gillespie & Associates, Inc., reservoir engineer, incorporated herein by reference31

Certification required by Rule 13a-14(a), dated December 
11, 2023, by Ross C. Durr, Senior Vice President and Mineral Interest Director of PNC Bank, the Trustee of the Trust**32

Certification required by Rule 13a-14(b), dated December 
11, 2023, by Ross C. Durr, Senior Vice President and Mineral Interest Director of PNC Bank, on behalf of PNC Bank, the Trustee of the Trust***99.1

Independent Petroleum Engineers Report prepared by Cawley, Gillespie & Associates, Inc., dated March 
3, 2023, incorporated herein by reference  *
A copy of this Exhibit is available to any Unit Holder (free of charge) upon written request to the Trustee,
PNC Bank, National Association, 2200 Post Oak Blvd., Floor 18, Houston, Texas 77056. **
Filed herewith. ***
Furnished herewith.




---

SIGNATURE Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.  PNC BANK, NATIONAL ASSOCIATION, AS
TRUSTEE OF THE SAN JUAN BASIN ROYALTY TRUSTBy:

/s/ Ross C. DurrName:

Ross C. DurrTitle:

Senior Vice President and Mineral Interest
Director Date: December 11, 2023 (The Trust has no directors or executive officers)