SAN JUAN BASIN ROYALTY TRUST : Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits (form 8-K)

SJT

Item 2.02. Results of Operations and Financial Condition.

On October 19, 2021, the San Juan Basin Royalty Trust (the "Trust") issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing a monthly cash distribution to the holders of its Units of beneficial interest (the "Unit Holders") of $3,155,671 or $0.067705 per Unit, based primarily upon the reported production during the month of August 2021 by the owner of the Trust's subject interests, Hilcorp San Juan L.P. ("Hilcorp"). The distribution is payable November 15, 2021, to Unit Holders of record as of October 29, 2021.

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 8.01 Other Events.

On June 1, 2021, The PNC Financial Services Group, Inc. ("PNC") announced that it had completed the purchase of BBVA USA Bancshares, Inc., a financial holding company, including its U.S. banking subsidiary, BBVA USA, an Alabama-chartered bank and trustee of the Trust ("BBVA USA"). On October 8, 2021, PNC Bank, National Association, an indirect wholly owned subsidiary of PNC ("PNC Bank"), succeeded BBVA USA as the trustee of the Trust following BBVA USA's merger with and into PNC Bank.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

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