# EDGAR Filing Document

**Accession Number:** 0000319655
**File Stem:** 0001193125-26-060515
**Filing Date:** 2026-2
**Character Count:** 8285
**Document Hash:** 731fd5bdde4575d79b73787f76c9edf8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-060515.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001193125-26-060515

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260218

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260220

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SAN JUAN BASIN ROYALTY TRUST
- **CENTRAL INDEX KEY:** 0000319655
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL ROYALTY TRADERS [6792]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 756279898
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08032
- **FILM NUMBER:** 26656935

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ARGENT TRUST COMPANY
- **STREET 2:** 3838 OAK LAWN AVE, STE 1720
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75219-4518
- **BUSINESS PHONE:** 972-919-1353

**MAIL ADDRESS:**
- **STREET 1:** C/O ARGENT TRUST COMPANY
- **STREET 2:** 3838 OAK LAWN AVE, STE 1720
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75219-4518

**UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report February 18, 2026** <br>

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**SAN JUAN BASIN ROYALTY TRUST**

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| **Texas** | **001-08032** | **75-6279898** |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| **Argent Trust Company, Trustee**<br>**3838 Oak Lawn Ave.**<br>**Suite 1720**<br>**Dallas, Texas 75219** | **Argent Trust Company, Trustee**<br>**3838 Oak Lawn Ave.**<br>**Suite 1720**<br>**Dallas, Texas 75219** | **Argent Trust Company, Trustee**<br>**3838 Oak Lawn Ave.**<br>**Suite 1720**<br>**Dallas, Texas 75219** |
| **(Address of Principal Executive Offices, including zip code)** | **(Address of Principal Executive Offices, including zip code)** | **(Address of Principal Executive Offices, including zip code)** |

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**Registrant's Telephone Number, Including Area Code:** (**855) 588-7839**<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Units | SJT | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

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. ☐<br>

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## Item 7.01 Regulation FD Disclosure
On February 19, 2026, the San Juan Basin Royalty Trust (the "Trust") issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing that Hilcorp San Juan L.P. had provided the Trust with its 2026 Capital Expenditures Plan.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall be deemed "furnished" and not "filed" with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

## Item 9.01 Financial Statements and Exhibits.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1<br>| [<u>Press Release dated February 19, 2026</u>](sjt-ex99_1.htm) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  | By: | ARGENT TRUST COMPANY,<br>AS TRUSTEE FOR THE SAN JUAN BASIN <br>ROYALTY TRUST<br>(Registrant) |
| Date: | February 20, 2026 | By:  | /S/ NANCY WILLIS  |
|  |  |  | Nancy Willis<br>Director of Royalty Trust Services |

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## Exhibit 99.1

*News Release*

**San Juan Basin Royalty Trust Announces Hilcorp's 2026 Capital Plan**

**DALLAS, Texas, February 19, 2026** – Argent Trust Company, as the trustee (the "Trustee") of the San Juan Basin Royalty Trust (the "Trust") (NYSE: SJT), announced that on Wednesday, February 18, 2026 the operator of the Trust's subject interests ("Subject Interests"), Hilcorp Energy Company ("Hilcorp") provided the Trust with its calendar year 2026 capital project plan for the Subject Interests (the "2026 Plan"). Under the 2026 Plan, Hilcorp estimates its 2026 capital expenditures for the Subject Interests to be approximately $14.0 million.

Hilcorp informed the Trust that the 2026 Plan for the Subject Interests includes 32 projects. Approximately $11.5 million of the $14.0 million budget in the 2026 Plan will be allocated to nine new vertical drill projects to be completed in the Mesaverde, Mancos, and Dakota formations and six new horizontal drill projects in the Mancos formation. Approximately $2.0 million of the $14.0 million budget will be allocated to 17 projects for recompletions and workovers in the Fruitland Coal and Pictured Cliffs formations, and approximately $0.5 million of the $14.0 million budget will be allocated to facilities projects related to natural gas compression and other facilities projects. Hilcorp further informed the Trust that its 2026 Plan is subject to revision if Hilcorp revises its assumptions underlying the 2026 Plan, and that actual capital costs may vary from these estimates.

For calendar year 2025, Hilcorp projected capital expenditures of approximately $9.0 million. Hilcorp informed the Trust that Hilcorp's actual capital expenditures from January 2025 through December 2025 totaled approximately $8.3 million. Hilcorp reports that approximately $4.0 million was spent on seven drilling projects and approximately $4.3 million was spent on 23 recompletions and workovers.

**Forward Looking Statements.** Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as "estimates," "anticipates," "could," "plan," or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust's reports and other filings with the Securities and Exchange Commission.

Contact: San Juan Basin Royalty Trust

Argent Trust Company, Trustee

Nancy Willis, Director of Royalty Trust Services

Toll-free: (855) 588-7839 or (866) 809-4553

Fax: (214) 559-7010

Website: <u>www.sjbrt.com</u> 

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