secwatch.observer — SEC 8-K summary
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Issuer:     HUGOTON ROYALTY TRUST (HGTXU)
CIK:        0000862022
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0000950170-24-084836
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862022/000095017024084836/0000950170-24-084836-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862022/000095017024084836/hgt_8-k_2407_distributio.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-084836

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