HUGOTON ROYALTY TR UBI - HGTXU STOCK NEWS

On March 21, 2023, Hugoton Royalty Trust (HGTXU) announced a cash distribution of $0.120066 per unit, payable on April 14, 2023, to unitholders of record as of March 31, 2023. The current month's underlying gas and oil sales were 742,000 Mcf and 12,000 Bbls respectively. Average prices were $12.78 per Mcf for gas and $76.03 per Bbl for oil. The Trust's expenses included development costs of $17,000, production costs of $1,414,000, and overhead of $1,010,000. In ongoing legal matters, it faces arbitration regarding the allocation of $24.3 million in production costs related to the Chieftain royalty case.

On February 24, 2023, Hugoton Royalty Trust (HGTXU) announced the outcome of a special unitholder meeting held on February 23, 2023. Unitholders approved the appointment of Argent Trust Company as the successor trustee, contingent upon Simmons Bank's resignation. However, related amendments to the Trust's indenture did not receive enough votes for approval. The effective date for Simmons Bank's resignation depends on the fulfillment of certain conditions outlined in the trustee's notice. The press release also includes forward-looking statements that emphasize the uncertainty surrounding the transition and potential implications for the Trust's future operations.

Hugoton Royalty Trust (OTCQB:HGTXU) announced a cash distribution of $0.090966 per unit, payable on March 14, 2023. This distribution is for unitholders recorded on February 28, 2023. The Trust reported current month sales volumes of 788,000 Mcf for gas and 13,000 Bbls for oil, with average prices of $12.73 per Mcf and $76.09 per Bbl, respectively. XTO Energy deducted $1,720,000 in development costs, $1,636,000 in production expenses, and $1,014,000 in overhead for royalty calculations. Ongoing arbitration regarding the Chieftain settlement continues, with hearings scheduled for May 30-31, 2023.

The Hugoton Royalty Trust (OTCQB: HGTXU) announced the adjournment of a Special Meeting for unitholders initially set for January 27, 2023. The meeting aims to approve Argent Trust Company as the successor trustee and related amendments to the Trust indenture. This meeting will now be held on February 23, 2023, at 3:00 p.m. Central Time in Fort Worth, TX. The record date for voting remains November 17, 2022, and unitholders who have already voted do not need to act further. The Trust encourages unitholders who haven't voted to submit their votes promptly.

On January 20, 2023, Hugoton Royalty Trust (HGTXU) announced a cash distribution of $0.043362 per unit, payable on February 14, 2023, to unitholders of record on January 31, 2023. The Trust reported underlying gas sales of 786,000 Mcf and oil sales of 15,000 Bbls for the current month, with average prices of $6.28 per Mcf for gas and $83.94 per Bbl for oil. Notably, XTO Energy deducted substantial costs, including $12,000 in development costs and $1,569,000 in production expenses, impacting the Trust's calculations. The arbitration regarding the Chieftain class action case is ongoing, with potential implications for future distributions.

Simmons Bank, Trustee of the Hugoton Royalty Trust (HGTXU), announced a cash distribution of $0.066725 per unit, payable on December 14, 2022. This distribution is for unitholders on record as of November 30, 2022. Underlying sales for the current month include 811,000 Mcf of gas and 15,000 Bbls of oil. Average prices were $8.41 per Mcf for gas and $84.06 per Bbl for oil. Development costs of $5 million are expected for a new well in Oklahoma. The Trust is also engaged in ongoing arbitration regarding production cost disputes, including a $24.3 million allocation related to the Chieftain settlement.

Hugoton Royalty Trust (OTCQB:HGTXU) has announced a cash distribution of $0.058602 per unit to unitholders, payable on October 17, 2022. This distribution will benefit those on record as of September 30, 2022. Recent underlying gas sales totaled 843,000 Mcf, with an average price of $6.95 per Mcf, reflecting an increase from 816,000 Mcf sold at $8.73 per Mcf the prior month. The Trust also faces ongoing arbitration issues and has terminated a sale agreement with XTO Energy.

Simmons Bank, as Trustee of Hugoton Royalty Trust (OTCQB: HGTXU), announced no cash distribution for June 2022 due to excess costs and lack of cash reserves. Net profits income from Oklahoma was approximately $725,000 and from Wyoming about $615,000. The Trustee paid $29,000 in administration expenses and settled a $658,000 payable to Simmons Bank, leaving $653,000 to partially replenish cash reserves of $1 million. Future distributions to unitholders are contingent upon achieving this cash reserve. The Trust's operations faced challenges, including excess costs totaling $3.85 million.

Simmons Bank, Trustee of the Hugoton Royalty Trust (OTCQB:HGTXU), announced no cash distribution for May 2022 due to high costs and a lack of cash reserves. The Trust generated approximately $334,000 from net profits interests, but after covering $104,000 in administrative expenses, it paid down an outstanding balance of $658,000 owed to Simmons Bank. Future distributions depend on net income recovery and replenishing a cash reserve of about $1 million. Underlying gas sales dipped to 841,000 Mcf from 708,000 Mcf the prior month, with prices falling from $6.96 to $5.65 per Mcf.