Hugoton Royalty Trust declares no October 2023 cash distribution due to excess costs

HUGOTON ROYALTY TRUST

No October cash distribution; all three conveyances (Kansas, Oklahoma, Wyoming) in excess cost positions.
Cumulative excess costs: Kansas $402K, Oklahoma $6.891M (incl. ~$14.6M Chieftain charge pending), Wyoming $796K.
Arbitration panel ruled up to $14.6M net from Chieftain settlement may be charged as production cost to Oklahoma.
Development costs of $7.2M net charged for three non-operated wells in Major County, Oklahoma.
August production: gas 751,000 Mcf at $3.58/Mcf, oil 12,000 Bbls at $77.47/Bbl.

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