Hugoton Royalty Trust settles arbitration with XTO; net $830K due XTO, $500K advance

HUGOTON ROYALTY TRUST

Chieftain claim valued at $18.1M (to XTO) offset by Overhead Claims of $17.3M (to Trust); net $830,381 to XTO as production cost.
XTO provides $500,000 one-time advance distribution to Trust, repayable from future net profits subject to $250K cash floor.
XTO agrees to modify overhead accounting: no overhead on non-producing wells; uses contract rate for 100%-owned wells, effective June 1, 2024.
Arbitration dismissed with prejudice; each party bears its own costs.
Outstanding non-arbitrated audit exceptions to be addressed within 90 days.

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