secwatch.observer — SEC 8-K summary
======================================

Issuer:     HUGOTON ROYALTY TRUST (HGTXU)
CIK:        0000862022
Form:       8-K
Filed at:   2024-08-20T23:59:59+00:00
Accession:  0000950170-24-098918
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862022/000095017024098918/0000950170-24-098918-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862022/000095017024098918/hgt_8-k_2408_distributio.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-098918

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer