Hugoton Royalty Trust Declares March Cash Distribution
March 20 2009 - 9:45AM
PR Newswire (US)
DALLAS, March 20 /PRNewswire-FirstCall/ -- U.S. Trust, Bank of
America Private Wealth Management, as Trustee of the Hugoton
Royalty Trust (NYSE: HGT), today declared a cash distribution to
the holders of its units of beneficial interest of $0.047721 per
unit, payable on April 14, 2009, to unitholders of record on March
31, 2009. The following table shows underlying gas sales and
average prices attributable to the net overriding royalty payments
made by XTO Energy Inc. (XTO Energy) to the Trust for both the
current month and prior month distributions. Underlying gas sales
volumes attributable to the current month distribution were
primarily produced in January. Underlying Gas Sales Volumes
(Mcf)(a) Average Gas Total Daily Price per Mcf Current Month
Distribution 2,197,000 71,000 $4.49 Prior Month Distribution
2,284,000 74,000 $4.11 (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 three
wells are currently being drilled on the underlying properties and
that it has deducted budgeted development costs of $4,000,000,
production expense of $1,617,000 and overhead of $852,000 in
determining the royalty payment to the Trust for the current month.
For more information on the Trust, please visit our web site at
http://www.hugotontrust.com/. DATASOURCE: U.S. Trust CONTACT: Nancy
G. Willis, Vice President, U.S. Trust, Bank of America Private
Wealth Management, Trustee, toll free, 1-877-228-5083; or Louis G.
Baldwin, Executive Vice President & Chief Financial Officer of
XTO Energy Inc., +1-817-870-2800 Web Site:
http://www.hugotontrust.com/
Copyright