secwatch.observer — SEC 8-K summary
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Issuer:     HUGOTON ROYALTY TRUST (HGTXU)
CIK:        0000862022
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0001193125-23-216783
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862022/000119312523216783/0001193125-23-216783-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862022/000119312523216783/d546858d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-216783

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