Welcome to our dedicated page for Hugoton Royalty news (Ticker: HGTXU), a resource for investors and traders seeking the latest updates and insights on Hugoton Royalty stock.
The Hugoton Royalty Trust (HGTXU) news stream centers on monthly announcements from Argent Trust Company, the Trustee, and related disclosures from XTO Energy. These news releases explain whether the Trust will declare a cash distribution to holders of its units of beneficial interest and describe the financial and operational factors that influence that decision.
In recent periods, the Trustee has repeatedly announced that there would not be a monthly cash distribution because of excess cost positions on all three of the Trust’s conveyances of net profits interests. Each release details how underlying gas and oil sales volumes, average realized prices, development costs, production expenses, overhead, and excess costs in Kansas, Oklahoma, and Wyoming affect the royalty calculation and the Trust’s cash reserve.
News items also highlight developments related to non-operated wells in Major County, Oklahoma in which XTO Energy has elected to participate. These updates include underlying sales volumes from the wells and the development costs charged to the Trust. In addition, several releases discuss arbitration and settlement matters, including the Chieftain class action royalty case, interim arbitration awards, and a Settlement Agreement that addresses how certain production and overhead costs are allocated to the Trust.
Investors following HGTXU news can use this page to review how monthly operating data, cost recovery, excess cost balances, and legal settlements impact the Trust’s ability to make distributions and manage its cash reserve. Regularly reviewing these releases can help readers understand trends in underlying production, pricing, and costs that shape the Trust’s financial condition.
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.
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