Hugoton Royalty Trust skips August cash distribution; cumulative excess costs exceed $10M

HUGOTON ROYALTY TRUST

No August 2024 distribution due to excess cost positions on all three net profits conveyances.
Cumulative excess costs: Kansas $1.384M, Oklahoma $3.113M, Wyoming $5.832M (incl. interest).
Settlement with XTO values Chieftain claim at $18.1M to XTO, overhead claims at $17.3M to Trust, net $830K to XTO.
Trust reduced cash reserve by $91K for expenses; expects to replenish before future distributions.
Underlying sales: 650K Mcf gas at $2.40/Mcf, 20K Bbl oil at $74.93/Bbl (June production).

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