{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-043050","form_type":"8-K","ticker":"HGTXU","cik":"0000862022","company_name":"HUGOTON ROYALTY TRUST","filed_at":"2025-03-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:06.539263+00:00","generated_at":"2026-05-24T09:29:56.335255+00:00","sec_items":["2.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Hugoton Royalty Trust skips March 2025 cash distribution; excess costs remain high","bullets":["No cash distribution for March 2025 due to excess cost positions on all three net profits interest conveyances.","Cumulative excess costs: Kansas $1.753M, Oklahoma $2.237M, Wyoming $8.179M (including accrued interest).","Underlying gas sales 554K Mcf at $4.68/Mcf; oil sales 12K Bbl at $69.34/Bbl (January production).","$10.5M in development costs charged for six non-operated wells in Oklahoma ($8.4M net to Trust).","Cash reserve reduced by $28K for expenses; replenishment required before future distributions."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-043050","json":"https://secwatch.observer/filing/0000950170-25-043050.json","markdown":"https://secwatch.observer/filing/0000950170-25-043050.md","text":"https://secwatch.observer/filing/0000950170-25-043050.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/862022/000095017025043050/0000950170-25-043050-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/862022/000095017025043050/hgt_8-k_2503_distributio.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T09:29:56.335255+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}