Hugoton Royalty Trust declares no September 2023 distribution due to excess costs; arbitration update

HUGOTON ROYALTY TRUST

No cash distribution for September 2023; all three conveyances in excess cost positions.
Trust cash reserve reduced by $152,000 for expense payments.
Underlying sales: 778,000 Mcf gas at $3.16/Mcf, 15,000 bbl oil at $72.95/bbl.
Cumulative excess costs: KS $378k, OK $6.914M, WY $809k; potential $14.6M Chieftain charge.
Final arbitration hearing on remaining net proceeds dispute scheduled November 8, 2023.

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