DALLAS, April 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 $0.012640 per unit, payable on May 12, 2017, to unitholders of record on
April 28, 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 February.
|
|
Underlying Gas
Sales
|
|
|
|
|
Volumes (Mcf)
(a)
|
|
Average
Gas
|
|
|
Total
|
|
Daily
|
|
Price per
Mcf
|
|
|
|
|
|
|
|
Current
Month
|
|
1,066,000
|
|
38,000
|
|
$3.22
|
|
|
|
|
|
|
|
Prior Month
|
|
1,144,000
|
|
37,000
|
|
$3.66
|
_____________
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|
|
|
|
|
|
|
|
(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 $200,000,
production expense of $1,507,000 and
overhead of $930,000 in determining
the royalty payment to the Trust for the current month.
Excess Costs
XTO Energy has advised the trustee that lower gas prices caused
costs to exceed revenues on properties underlying the Kansas and Wyoming net profits interests. However, these
excess costs did not reduce net proceeds from the remaining
conveyances.
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.
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visit:http://www.prnewswire.com/news-releases/hugoton-royalty-trust-declares-april-cash-distribution-300440911.html
SOURCE Hugoton Royalty Trust