Current Report Filing (8-k)
January 19 2018 - 5:06PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
8-K
CURRENT REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): January 19, 2018
HUGOTON ROYALTY TRUST
(Exact Name of Registrant as Specified in Its Charter)
Texas
(State or Other
Jurisdiction of Incorporation)
|
|
|
1-10476
|
|
58-6379215
|
(Commission File Number)
|
|
(IRS Employer Identification No.)
|
|
|
|
Southwest Bank
Trustee
P.O. Box
962020
Fort Worth, Texas
|
|
76162-2020
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
(855) 588-7839
(Registrants Telephone Number, Including Area Code)
NONE
(Former Name or
Former Address, if Changed Since Last Report)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of
the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company ☐
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions (
see
General Instruction A.2. below):
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
|
☐
|
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
|
☐
|
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
|
Item 2.02.
|
Results of Operations and Financial Condition.
|
On January 19, 2018, the Registrant issued a news
release announcing that it will not declare a monthly cash distribution for the month of January 2018. A copy of the news release is furnished as Exhibit 99.1.
The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form
8-K
and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section.
On January 19, 2018, the Registrant issued a news release announcing that XTO Energy
has advised the Trustee that it has reached a tentative settlement with the plaintiffs in the Chieftain class action royalty case. XTO Energy informed the Trustee on January 17, 2018, that it believes that the portion of the settlement that
relates to the Trust is as much as $20 million. XTO Energy has advised the Trustee that the settlement requires final approval by a judge, which is expected to occur in late first quarter of 2018. The Trustee has asked to be advised by XTO as
the matter progresses and, once additional information is made available to the Trustee, intends to review any claimed reductions in payment to the Trust based on the facts and circumstances of the settlement. The Trustee has previously stated that
to the extent any such claimed reductions are similar to claimed reductions from XTO Energys settlement in the Fankhouser v. XTO Energy, Inc. class action lawsuit that an arbitration tribunal ruled were not permitted to be borne by the Trust,
the Trustee would likely object to such claimed reductions.
If $20 million of the Chieftain settlement is required to be borne by the Trust, it
would result in excess costs under the Oklahoma conveyance that, based on recent distribution levels under such conveyance, would likely result in no distributions under the Oklahoma conveyance for several years.
Item 9.01.
|
Financial Statements and Exhibits.
|
Exhibit 99.1
News Release dated January 19, 2018
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
|
|
HUGOTON ROYALTY TRUST
|
|
|
|
|
|
|
|
B
Y
: SOUTHWEST BANK, TRUSTEE
|
|
|
|
|
Date: January 19, 2018
|
|
|
|
By:
|
|
/s/ LEE ANN ANDERSON
|
|
|
|
|
|
|
|
|
Lee Ann Anderson
Senior Vice President
|
|
|
|
|
|
|
|
|
|
|
EXXON MOBIL CORPORATION
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ DAVID LEVY
|
|
|
|
|
|
|
|
|
David Levy
Vice President Upstream Business Services
|
3
Hugoton Royalty (QB) (USOTC:HGTXU)
Historical Stock Chart
From Aug 2024 to Sep 2024
Hugoton Royalty (QB) (USOTC:HGTXU)
Historical Stock Chart
From Sep 2023 to Sep 2024