Hugoton Royalty Trust declares no July cash distribution; corrects production month and Kansas excess costs

HUGOTON ROYALTY TRUST

No cash distribution for July 2025 due to excess costs on all three net profits interests.
Underlying May production: gas 51,000 Mcf at $5.11/Mcf, oil 5,000 bbl at $60.55/bbl.
Cumulative excess costs: Kansas $2,316K (+$273K revised), Oklahoma $7,302K, Wyoming $10,206K.
Overhead transition to Mach caused one-time dual charges; expected to normalize by August.
Trust engaged Grant Thornton as new auditor; Q1 10-Q still delayed; seeking OTCQB relisting.

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