Hugoton Royalty Trust skips July 2024 distribution, settles arbitration with XTO

HUGOTON ROYALTY TRUST

No July 2024 cash distribution to unitholders due to excess cost positions on all three conveyances; cash reserve reduced by $34K.
Underlying sales volumes: 747,000 Mcf gas at $2.00/Mcf, 17,000 Bbls oil at $77.16/Bbl (May production).
Cumulative excess costs: Kansas $1.393M, Oklahoma $3.074M, Wyoming $5.058M (incl. interest).
Arbitration settlement: Chieftain claim ($18.1M) offset by overhead claims ($17.275M); net $830K charged as production cost; XTO provides $500K advance.
Development costs for four non-operated wells in Major County, OK total $10.0M underlying ($8.0M net to Trust).

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