Hugoton Royalty Trust declares no January 2026 cash distribution; excess costs persist

HUGOTON ROYALTY TRUST

No monthly cash distribution for January 2026 due to excess costs on all three net profits interests.
Cumulative excess costs: Kansas $2,909,000 (incl. $283k interest), Oklahoma $13,517,000 ($841k interest), Wyoming $11,413,000 ($1,137k interest).
Underlying October production: 739,000 Mcf gas at $3.33/Mcf, 19,000 Bbl oil at $60.11/Bbl.
Mach Natural Resources incurred $5,052k development costs, $1,722k production expense, $938k overhead in current royalty calculation.
Trustee does not foresee any distributions in the near term; cash reserve reduced by $7,000 for Trust expenses.

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