DALLAS, June 20, 2017 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 $0.010096 per unit, payable on July 17, 2017, to
unitholders of record on June 30, 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 April.
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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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1,154,000
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38,000
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$2.77
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Prior Month
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1,179,000
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38,000
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$2.54
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_______________________
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(a)
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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 $1,442,000 and overhead of $987,000 in
determining the royalty payment to the Trust for the current month.
Excess Costs
XTO Energy has advised the trustee that decreased gas production in the current month distribution caused costs to exceed
revenues on properties underlying the Kansas net profits interests. However, these excess costs
did not reduce net proceeds from the remaining conveyances.
XTO Energy has advised the trustee that increased gas prices led to the partial recovery of excess costs on properties
underlying the Wyoming net profits interests. However, after the partial recovery there were no
remaining proceeds from properties underlying the Wyoming net profits interests to be included
in the current month's distribution.
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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hugoton-royalty-trust-declares-june-cash-distribution-300476345.html
SOURCE Hugoton Royalty Trust