secwatch.observer — SEC 8-K summary
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Issuer:     HUGOTON ROYALTY TRUST (HGTXU)
CIK:        0000862022
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0001193125-23-297459
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hugoton Royalty Trust declares no December cash distribution; excess costs on all three conveyances
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- No monthly cash distribution for December 2023 due to excess cost positions on Kansas, Oklahoma, and Wyoming net profits interests.
- Kansas cumulative excess costs $515K ($17K interest); Oklahoma $1.619M ($224K interest); Wyoming $1.746M ($27K interest).
- Development costs for three non-operated wells total $9.1M underlying ($7.3M net to Trust); two wells completed Q2 2023.
- Arbitration award: ~$14.6M net to Trust from Chieftain settlement may be charged as production cost; likely no Oklahoma distributions during recovery.
- Trust cash reserve reduced by $106K for expenses; future distributions require replenishment before any payout.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862022/000119312523297459/0001193125-23-297459-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862022/000119312523297459/d572942d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-297459

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