EX-99.1 2 a05-11049_1ex99d1.htm EX-99.1

EXHIBIT 99.1

 

[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]

 

HUGOTON ROYALTY TRUST
DECLARES JUNE CASH DISTRIBUTION

 

Dallas, Texas, June 20, 2005 – 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 $0.218672 per unit, payable on July 15, 2005, to unitholders of record on June 30, 2005.  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 April.

 

 

 

Underlying Gas Sales

 

 

 

 

 

Volumes (Mcf) (a)

 

Average Gas

 

 

 

Total

 

Daily

 

Price per Mcf

 

 

 

 

 

 

 

 

 

Current Month Distribution

 

2,451,000

 

82,000

 

$

6.36

 

 

 

 

 

 

 

 

 

Prior Month Distribution

 

2,469,000

 

80,000

 

$

5.62

 

 


(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.

 

Ten wells are currently being drilled on the underlying properties.  Budgeted development costs of $2,400,000 were deducted for this distribution. Production expense for the month was $1,373,000 and overhead was $659,000.

 

 

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