8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


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                                    FORM 8-K
                                 CURRENT REPORT

                        PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

       DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): OCTOBER 27, 2000


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                          SAN JUAN BASIN ROYALTY TRUST
      (Exact name of Registrant as specified in the San Juan Basin Royalty
          Trust Indenture)



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                 TEXAS                                  1-8032                              75-6279898
            (State or other                    (Commission File Number)                  (I.R.S. Employer
    jurisdiction of incorporation)                                                    Identification Number)
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         BANK ONE, TEXAS, N.A.
      CORPORATE TRUST DEPARTMENT                                                              76113
             P.O. BOX 2604                                                                  (Zip code)
           FORT WORTH, TEXAS
         (Address of principal
          executive offices)
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       Registrant's telephone number, including area code: (817) 884-4630

                                 NOT APPLICABLE
         (Former name or former address, if changed since last report)

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ITEM 5. OTHER EVENTS.

         In a press release dated October 27, 2000, a copy of which is attached
hereto as Exhibit 99.1, Bank One, Texas, N.A., Trustee of the San Juan Basin
Royalty Trust (the "Trust"), announced today the upward adjustment of
anticipated capital expenses of the Trust for fiscal year ended December 31,
2000.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

(C)      EXHIBITS.

         99.1    -    Press release, dated October 27, 2000.



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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.


                             BANK ONE, TEXAS, N.A.
                             TRUSTEE OF THE SAN JUAN BASIN ROYALTY TRUST



                             By:  /s/ Lee Ann Anderson
                                  ---------------------------------------------
                                  Lee Ann Anderson
                                  Vice President


Date:    October 27, 2000






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                               INDEX TO EXHIBITS



     EXHIBIT
     NUMBER        DESCRIPTION
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      99.1    -    Press release, dated October 27, 2000.

EX-99.1

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                                                                    EXHIBIT 99.1

            [SAN JUAN BASIN ROYALTY TRUST - NEWS RELEASE STATIONERY]


                                                                    NEWS RELEASE



SAN JUAN BASIN ROYALTY TRUST
REPORTS INCREASE IN CAPITAL BUDGET


FORT WORTH, Texas, October 27, 2000 -- Bank One, Texas, N.A., as Trustee of the
San Juan Basin Royalty Trust (the "Trust"), today reported that Burlington
Resources Oil & Gas Company has revised the capital budget estimate for
properties subject to the Trust's royalty interest upward from $18.5 million to
$24.5 million for calendar year 2000. The principal asset of the Trust consists
of a 75% net overriding royalty interest carved out of certain oil and gas
leasehold and royalty interests in the San Juan Basin located in San Juan, Rio
Arriba and Sandoval Counties of northwestern New Mexico (the "Trust
Properties"). Burlington is the operator of most but not all of the Trust
Properties. The Trust Properties have historically produced gas primarily from
the Fruitland Coal, Pictured Cliffs, Mesaverde and Dakota formations.

The projected increase is to cover the costs of (a) the drilling of six new
wells on Trust Properties not operated by Burlington; (b) multiple completions
to the Dakota and Pictured Cliffs formations in wells heretofore budgeted for
completion only to the Mesaverde formation; and (c) additional tubing and other
facilities at existing wells, as required to maintain production in the face of
an increase in pressure on the gathering system operated by Williams Field
Services on which gas produced from those wells is transported.



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Contact:    Lee Ann Anderson, Vice President
            Bank One, Texas, N.A.

            Phone: (817) 884-4630