Hugoton Royalty Trust declares no November cash distribution on excess cost positions

HUGOTON ROYALTY TRUST

No cash distribution declared for November 2023 due to excess costs on all three conveyances.
Cash reserve reduced by $74,000 for trust expenses.
Underlying gas sales 877,000 Mcf at $3.00/Mcf; oil 58,000 Bbls at $74.53/Bbl.
Development costs of $9.0M underlying ($7.2M net to trust) for three non-operated wells in Oklahoma.
Arbitration: $14.6M net to trust from Chieftain settlement can be charged as production cost; likely no distributions from Oklahoma.

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