EX-99.1 2 v185669_ex99-1.htm Unassociated Document
EXHIBIT 99.1

[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]
 



HUGOTON ROYALTY TRUST
DECLARES MAY CASH DISTRIBUTION


Dallas, Texas, May 18, 2010 – 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 $0.144855 per unit, payable on June 14, 2010, to unitholders of record on May 28, 2010. 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 March.

   
Underlying Gas Sales
       
   
Volumes (Mcf) (a)
   
Average Gas
 
   
Total
   
Daily
   
Price per Mcf
 
                   
Current Month Distribution
    2,010,000       65,000     $ 5.04  
                         
Prior Month Distribution
    2,130,000       76,000     $ 6.03  


 
(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 a revenue receipt for approximately 298,000 Mcf that was expected in February, was not received until March 2010.  The amount was included in the calculation of the April 2010 distribution.

XTO Energy has advised the trustee that it has deducted budgeted development costs of $500,000, production expense of $1,702,000 and overhead of $909,000 in determining the royalty payment to the Trust for the current month.

 
 

 
[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]


For more information on the Trust, please visit our web site at www.hugotontrust.com.

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Contacts:
Nancy G. Willis
Vice President
U.S. Trust, Bank of America
Private Wealth Management,
Trustee
(Toll Free)
877-228-5083
Louis G. Baldwin
Executive Vice President &
Chief Financial Officer
XTO Energy Inc.
817-870-2800