Hugoton Royalty Trust Declares August Cash Distribution
August 21 2009 - 9:34AM
PR Newswire (US)
DALLAS, Aug. 21 /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 $0.062386 per
unit, payable on September 15, 2009, to unitholders of record on
August 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 June. Underlying Gas Sales Volumes (Mcf) (a)
Average Gas ----------------- Total Daily Price per Mcf ----- -----
------------- Current Month Distribution 2,133,000 71,000 $3.08
Prior Month Distribution 2,227,000 72,000 $2.90 (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 four wells are currently being drilled on
the underlying properties and that it has deducted budgeted
development costs of $1,000,000, production expense of $1,902,000
and overhead of $900,000 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 of
U.S. Trust, Bank of America Private Wealth Management, Trustee,
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/
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