Hugoton Royalty Trust declares no April 2026 distribution, cites going concern, dismisses auditor

HUGOTON ROYALTY TRUST

No April 2026 cash distribution; no near-term distributions foreseen due to excess cost positions on all three conveyances.
Excess costs: Kansas $3.181M (incl. $333K interest), Oklahoma $15.409M (incl. $1.057M interest), Wyoming $11.305M (incl. $1.324M interest).
Dismissed Grant Thornton LLP as independent auditor on April 16, 2026; anticipates inability to file future SEC reports.
Trust cash reserve reduced by $97K; Trustee warns of going concern and may seek termination or sale of assets (requires 80% unitholder approval).
No distributions since July 2023; underlying Jan. 2026 production: 707,000 Mcf gas at $4.94/Mcf, 14,000 bbl oil at $56.66/bbl.

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