Hugoton Royalty Trust declares no April 2024 cash distribution due to excess costs

HUGOTON ROYALTY TRUST

No monthly cash distribution for April 2024; cash reserve reduced by $84,000 for trust expenses.
Underlying volumes: 500,000 Mcf gas at $3.45/Mcf, 11,000 Bbls oil at $72.91/Bbl for current month.
Excess costs rose on all three conveyances: Kansas +$29,000 (cum. $1,059K), Oklahoma +$402K ($1,531K), Wyoming +$454K ($2,633K).
Development costs for four non-operated Oklahoma wells total $7.5M net to Trust; fourth well completed Q1 2024.
Arbitration panel: Trust must pay share of $48M Chieftain settlement; estimated $14.6M net chargeable as excess cost.

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