EX-99.1 2 ex99_1.htm EXHIBIT 99.1 PRESS RELEASE ex99_1.htm
EXHIBIT 99.1

[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]


HUGOTON ROYALTY TRUST
DECLARES APRIL CASH DISTRIBUTION

 
    
    Dallas, Texas, April 18, 2008 - 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 $0.227840 per unit, payable on May 14, 2008, to unitholders of record on April 30, 2008. 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 February.
 
 
 
Underlying Gas Sales
Volumes (Mcf) (a)
     
   
Total
   
Daily
   
Average Gas
Price per Mcf
 
 
Current Month Distribution
   
2,276,000
 
 
78,000
 
 
$   7.66
 
                     
Prior Month Distribution
   
2,355,000
 
 
76,000
 
 
$   6.74
 
 

 
(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 nine wells are currently being drilled on the underlying properties and that it has deducted budgeted development costs of $3,750,000, production expense of $2,322,000 and overhead of $762,000 in determining the royalty payment to the Trust for the current month.
 
    For more information on the Trust, please visit our web site at 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