Hugoton Royalty Trust skips February 2024 distribution; excess costs persist across all conveyances

HUGOTON ROYALTY TRUST

No cash distribution declared for Feb 2024 due to excess costs on all three net profits interests.
Cash reserve reduced by $26k for expenses; reserve will be replenished before future distributions.
Underlying sales: 788,000 Mcf gas at $3.75/Mcf and 23,000 Bbl oil at $75.58/Bbl.
Excess costs: Kansas $972k, Oklahoma $711k, Wyoming $1,804k; Oklahoma may face additional ~$14.6M Chieftain charge.
Development costs of $9.1M underlying ($7.3M net) charged for three non-operated wells in Major County, Oklahoma.

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