FORT WORTH, Texas, Dec. 18, 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 $0.010841 per unit, payable on January 16,
2018, to unitholders of record on December 29, 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 October.
|
|
|
Underlying Gas Sales
|
|
|
|
|
|
|
|
Volumes (Mcf) (a)
|
|
Average Gas
|
|
|
|
|
|
Total
|
|
Daily
|
|
Price per Mcf
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Month
|
|
|
1,154,000
|
|
37,000
|
|
$2.85
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior Month
|
|
|
1,084,000
|
|
36,000
|
|
$2.94
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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.
|
XTO Energy has advised the Trustee that it has deducted budgeted development costs of $280,000,
production expense of $1,410,000, overhead of $956,000 and recovered
net excess costs, including accrued interest, of $71,000 in determining the royalty payment to the
Trust for the current month.
Excess Costs
XTO Energy has advised the Trustee that improved gas prices in relation to costs resulted in the partial recovery
of excess costs of $50,000 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. Underlying
cumulative excess costs remaining on the Kansas net profits interests after the current month's
distribution totaled $884,000, including accrued interest of $112,000.
XTO Energy has advised the Trustee that improved gas prices in relation to costs resulted in the full recovery of remaining
excess costs consisting entirely of accrued interest of $21,000, on properties underlying the
Wyoming net profits interests. The remaining proceeds from properties underlying the
Wyoming net profits interest were 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.
View original content:http://www.prnewswire.com/news-releases/hugoton-royalty-trust-declares-december-cash-distribution-300572290.html
SOURCE Hugoton Royalty Trust