EX-99.1 2 ex99_1.htm EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 Press Release
EXHIBIT 99.1

[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]


HUGOTON ROYALTY TRUST
DECLARES MAY CASH DISTRIBUTION

 
    Dallas, Texas, May 19, 2006 - Bank of America, N.A., as Trustee of the Hugoton Royalty Trust (NYSE - HGT), today declared a cash distribution to the holders of its units of beneficial interest of $0.173987 per unit, payable on June 14, 2006, to unitholders of record on May 31, 2006. The following table shows underlying gas sales and average prices attributable to the current month and prior month distributions. Underlying gas sales volumes attributable to the current month distribution were primarily produced in March.
 
 
 
   
Underlying Gas Sales
Volumes (Mcf) (a)
     
   
Total
   
Daily
   
Average Gas
Price per Mcf
 
Current Month Distribution
   
  2,440,000   
 
 
79,000
 
$
   6.13
 
                     
Prior Month Distribution
   
2,278,000
 
 
81,000
 
$
   6.80
 
 

 
(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.
     
   Eight wells are currently being drilled on the underlying properties.  Budgeted development costs of $4,200,000 were deducted for this distribution.  Production expense for the month was $1,403,000 and overhead was $624,000.
 
   For more information on the Trust, please visit our web site at www.hugotontrust.com.
 
* * *

Contacts:
Nancy G. Willis
Vice President
Bank of America, N.A.
(Toll Free)
877/228-5083
Louis G. Baldwin
Executive Vice President &
Chief Financial Officer
XTO Energy, Inc.
817/870-2800