Welcome to our dedicated page for HUGOTON ROYALTY TR UBI news (Ticker: HGTXU), a resource for investors and traders seeking the latest updates and insights on HUGOTON ROYALTY TR UBI stock.
Hugoton Royalty Trust (HGTXU) is a trust managed by Argent Trust Company, focusing on conveyances of net profits interests in Kansas, Oklahoma, and Wyoming. The trust's cash reserve, affected by excess costs, impacts distributions to unitholders. XTO Energy's production costs and recovery efforts influence future income. Recent developments include drilling new wells to enhance oil and gas sales while managing operating expenses. The trust faces arbitration challenges related to production costs and allocation of settlements. Stay updated on the trust's performance, financials, and distribution status.
On January 21, 2022, Hugoton Royalty Trust (OTCQB:HGTXU) announced no cash distribution for January 2022 due to excess costs associated with its net profits interests. Underlying gas sales for the current month totaled 850,000 Mcf at $6.72 per Mcf, slightly higher than the prior month. XTO Energy reported significant deductions for production expenses totaling $1,292,000. The Trust faces cumulative excess costs of $3,442,000 in Kansas, $11,589,000 in Oklahoma, and $1,001,000 in Wyoming. A proposed asset sale to XTO Energy remains unapproved by unitholders.
Hugoton Royalty Trust (OTCQB: HGTXU) announced no cash distribution for December 2021 due to increased costs on its net profits interests. Underlying gas sales in the current month were recorded at 840,000 Mcf with an average price of $6.48 per Mcf, slightly lower than 842,000 Mcf at $4.86 in the previous month. The Trustee also noted significant excess costs totaling $3.4 million in Kansas and $14.4 million in Oklahoma, affecting future distributions. A sale agreement with XTO Energy for $6.6 million remains pending unitholder approval.
On November 19, 2021, Simmons Bank, Trustee of the Hugoton Royalty Trust (OTCQB:HGTXU), announced no cash distribution for November 2021 due to excess cost issues. Underlying gas sales volumes for the month were 842,000 Mcf, a slight decrease from 853,000 Mcf in the prior month, with an average price per Mcf at $4.86. The Trust continues to face significant excess costs totaling $3.58 million in Kansas and $16.67 million in Oklahoma. Additionally, a purchase and sale agreement with XTO Energy for $6.6 million remains pending, requiring unit holder approval by December 10, 2021.
Simmons Bank, as Trustee of the Hugoton Royalty Trust (HGTXU), announced there would be no cash distribution for October 2021 due to excess cost positions across its net profits interests. Underlying gas sales for the month totaled 853,000 Mcf at an average price of $4.81 per Mcf. The Trust is also proceeding with a $6.6 million asset sale to XTO Energy, subject to unit holder approval on December 10, 2021. Additionally, cumulative excess costs have reached $3.586 million in Kansas and $18.165 million in Oklahoma, impacting future distributions.
On September 20, 2021, Simmons Bank, Trustee of the Hugoton Royalty Trust (HGTXU), announced that there would be no cash distribution for September 2021 due to excess costs associated with the Trust's net profits interests. Underlying gas sales volumes totaled 877,000 Mcf, with an average price of $4.23 per Mcf. The Trust is also in the process of selling its assets to XTO Energy for $6.6 million, pending approval from unitholders. Cumulative excess costs remaining stand at $3.6 million in Kansas, $19.8 million in Oklahoma, and $3.2 million in Wyoming.
Simmons Bank, as Trustee of the Hugoton Royalty Trust (OTCQB:HGTXU), announced there will be no cash distribution for August 2021 due to excess costs on all three of the Trust's conveyances of net profits interests. Total underlying gas sales for the current month were 878,000 Mcf, with an average price of $3.73 per Mcf. The Trustee is working on a sale agreement with XTO Energy for $6.6 million, pending approval from unit holders. Excess costs for Kansas, Oklahoma, and Wyoming properties total $27,063,000. The Trust's expense reserve has been depleted since October 2020.
Simmons Bank, Trustee of Hugoton Royalty Trust (HGTXU), announced there will be no cash distribution for July 2021 due to excess costs on net profits interests. Underlying gas sales for the current month totaled 1,009,000 Mcf, with an average price of $3.55 per Mcf. Additionally, a purchase agreement with XTO Energy to acquire trust assets for $6.6 million is pending unit holder approval. Excess costs are substantial, totaling $3,586,000 for Kansas, $22,389,000 for Oklahoma, and $3,934,000 for Wyoming. Future distributions may be halted while excess costs are recovered.
Hugoton Royalty Trust (OTCQB:HGTXU) announced a $6.6 million agreement to sell its net overriding royalty interest and substantially all its assets to XTO Energy Inc.. The sale is contingent upon approval from Unit holders representing at least 80% of all outstanding Units or a court ruling. A special meeting for Unit holders will be convened to discuss the sale. This follows a marketing process where a third party was engaged to seek buyers. The transaction is subject to standard closing conditions and could impact future revenue based on natural gas price fluctuations.
Simmons Bank, as Trustee of the Hugoton Royalty Trust (OTCQB:HGTXU), announced that there would be no cash distribution for June 2021 due to excess costs on net profits interests. For the current month, gas sales totaled 804,000 Mcf at an average price of $3.38 per Mcf. XTO Energy reported excess costs of $28,000 for Kansas, $1,991,000 for Oklahoma, and a recovery of $107,000 for Wyoming, with cumulative excess costs reaching $24,878,000 for Oklahoma. The Trust's financial obligations, including arbitration outcomes and development costs, impact future distributions significantly.
Simmons Bank, as Trustee of Hugoton Royalty Trust (OTCQB:HGTXU), reported a second interim final award from an arbitration panel regarding the Trust's ongoing dispute with XTO Energy. The Panel determined that the Trust must pay a share of the $48 million from a class action lawsuit settlement, estimating about $14.6 million as the amount allocable to Trust properties. The ruling indicates the Trust may not distribute proceeds from the Oklahoma conveyance for several years due to incurred excess costs related to this settlement.
FAQ
What is the current stock price of HUGOTON ROYALTY TR UBI (HGTXU)?
What is the market cap of HUGOTON ROYALTY TR UBI (HGTXU)?
What is Hugoton Royalty Trust (HGTXU)?
What factors affect distributions to unitholders?
How do XTO Energy's production costs affect the trust?
What are the recent developments related to the trust?
What challenges does the trust face in terms of arbitration?
Where can I find more information about the trust's performance and financials?
