secwatch.observer — SEC 8-K summary
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Issuer:     HUGOTON ROYALTY TRUST (HGTXU)
CIK:        0000862022
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001193125-24-038357
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862022/000119312524038357/0001193125-24-038357-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862022/000119312524038357/d774383d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-038357

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