Hugoton Royalty Trust declares no August 2023 cash distribution; excess costs remain high

HUGOTON ROYALTY TRUST

No cash distribution for August 2023 due to excess cost positions on all three conveyances; cash reserve reduced by $158,000 for expenses.
Underlying gas sales 729,000 Mcf at $2.51/Mcf; oil 12,000 bbls at $68.03/bbl (June production).
Cumulative excess costs: Kansas $492K, Oklahoma $7.064M, Wyoming $639K; Oklahoma likely to grow with ~$14.6M Chieftain charge.
Development costs of $8.7M ($6.9M net to Trust) charged for three non-operated wells in Major County, Oklahoma.
Arbitration final hearing on disputed net proceeds for 2014-2019 & 2021 scheduled for Nov 8, 2023.

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