secwatch.observer — SEC 8-K summary
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Issuer:     HUGOTON ROYALTY TRUST (HGTXU)
CIK:        0000862022
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0001193125-23-191083
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 declares no July 2023 distribution; excess costs on all conveyances
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- No cash distribution for July 2023 due to excess cost positions on all three net profits interests.
- Underlying sales: 806,000 Mcf gas at $2.70/Mcf; 19,000 Bbls oil at $74.12/Bbl (May production).
- XTO deducted $5.9M development costs, $1.5M production expense, $1.1M overhead in royalty calc.
- Cumulative excess costs: Kansas $224K, Oklahoma $6.533M, Wyoming $258K; Oklahoma includes potential $14.6M Chieftain settlement charge.
- Chieftain arbitration award: Trust must pay share of $48M settlement (lawyers' $32M excluded); final hearing on remaining disputes Nov 8, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862022/000119312523191083/0001193125-23-191083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862022/000119312523191083/d670094d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-191083

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