---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-284037"
form_type: "8-K"
ticker: "HGTXU"
cik: "0000862022"
company_name: "HUGOTON ROYALTY TRUST"
filed_at: "2025-11-17T23:59:59+00:00"
generated_at: "2026-05-16T19:32:59.240528+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Hugoton Royalty Trust skips November 2025 distribution; excess costs persist on all three net profits interests

## Summary
- No cash distribution for November 2025; Trustee does not foresee any in near term.
- Gas sales 736,000 Mcf at $3.46/Mcf, oil 13,000 bbls at $62.06/bbl in current month.
- Kansas excess costs $2,665,000 (incl. $251K interest); Oklahoma $8,767,000 ($739K interest); Wyoming $10,911,000 ($1,007K interest).
- Development costs $3,000, production expense $1,493,000, overhead $926,000 from operator Mach Natural Resources.
- Cash reserve reduced by $5,000 for trust expenses; will be replenished before future distributions.

## SEC filing metadata
- accession: 0001193125-25-284037
- form_type: 8-K
- ticker: HGTXU
- cik: 0000862022
- company_name: HUGOTON ROYALTY TRUST
- filed_at: 2025-11-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862022/000119312525284037/0001193125-25-284037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862022/000119312525284037/hgt_8-k_2511_distributio.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-284037
- JSON: https://secwatch.observer/filing/0001193125-25-284037.json
- Plain text: https://secwatch.observer/filing/0001193125-25-284037.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.