Hugoton Royalty Trust declares $0.012363 per unit cash distribution for April 2023; provides arbitration update

HUGOTON ROYALTY TRUST

Cash distribution of $0.012363 per unit payable May 12, 2023 to holders of record April 28, 2023.
Underlying gas sales volume 776,000 Mcf at average price $4.83/Mcf; oil sales 13,000 Bbls at $74.37/Bbl.
Development costs of $1.5 million net to Trust charged for first non-operated well in Major County, Oklahoma.
Arbitration panel ruled $48 million of Chieftain settlement allocable to Trust; estimated $14.6 million net excess cost.
Excess costs of $104,000 on Kansas and $143,000 on Oklahoma net profits interests remain unrecovered.

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