DALLAS, May 19, 2017 /PRNewswire/ -- Southwest Bank, as
Trustee of the Hugoton Royalty Trust (NYSE: HGT) (the "Trust"), today declared a cash distribution to the holders of its units of
beneficial interest of $0.006021 per unit, payable on June 14, 2017,
to unitholders of record on May 31, 2017. The following table shows underlying gas sales and
average prices attributable to the net overriding royalty for both the current month and prior month. Underlying gas sales
volumes attributable to the current month were primarily produced in March.
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Underlying Gas Sales
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Volumes (Mcf) (a)
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Average Gas
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Total
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Daily
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Price per Mcf
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Current Month
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1,179,000
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38,000
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$2.54
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Prior Month
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1,066,000
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38,000
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$3.22
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(a) Sales volumes
are recorded in the month the Trust receives the related net profits income. Because of this, sales volumes may
fluctuate from month to month based on the timing of cash receipts.
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XTO Energy has advised the trustee that it has deducted budgeted development costs of $200,000,
production expense of $1,416,000 and overhead of $932,000 in
determining the royalty payment to the Trust for the current month.
Excess Costs
XTO Energy has advised the trustee that increased gas production in the current month distribution led to the partial recovery
of excess costs on properties underlying the Kansas net profits interests. However, after the
partial recovery there were no remaining proceeds from properties underlying the Kansas net
profits interests to be included in the current month's distribution.
XTO Energy has advised the trustee that lower gas prices caused costs to exceed revenues on properties underlying the
Wyoming net profits interests. However, these excess costs did not reduce net proceeds from the
remaining conveyances.
For more information on the Trust, please visit our web site at www.hgt-hugoton.com .
Statements made in this press release regarding future events or conditions are forward looking statements. Actual
future results, including development costs and future net profits, could differ materially due to changes in natural gas prices
and other economic conditions affecting the gas industry and other factors described in Part I, Item 1A of the Trust's Annual
Report on Form 10-K for the year ended December 31, 2016.
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SOURCE Hugoton Royalty Trust