Welcome to our dedicated page for Hugoton Royalty Trust news (Ticker: $HGTXU), a resource for investors and traders seeking the latest updates and insights on Hugoton Royalty Trust stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Hugoton Royalty Trust's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Hugoton Royalty Trust's position in the market.
Hugoton Royalty Trust (OTCQB: HGTXU) declared no cash distribution for May 2024 due to excess costs on its net profits interests. The Trust's cash reserve was reduced by $21,000 for expenses, with future distributions contingent on replenishing this reserve. In March, the Trust reported gas sales of 678,000 Mcf at $1.82 per Mcf and oil sales of 11,000 Bbls at $78.07 per Bbl. Development costs, production expenses, and overheads totaled $2.823 million. Excess costs increased across properties in Kansas, Oklahoma, and Wyoming, with cumulative totals of $1.193 million, $1.669 million, and $3.834 million, respectively. Additionally, the Trust faces a potential $14.6 million charge from the Chieftain settlement. The arbitration panel ruled that $48 million of the $80 million Chieftain settlement is a production cost chargeable to the Trust. This will likely affect future distributions.