SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SIMPSON BOB R

(Last)

(First)

(Middle)

810 HOUSTON STREET

(Street)

FORT WORTH

76102

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HUGOTON ROYALTY TRUST [ HGT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Dir., CEO & Chair XTO Energy

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Units of Beneficial Interest	12/31/2007		P		10,000	A	$22.05	510,000	D
Units of Beneficial Interest	12/31/2007		P		5,000	A	$22.0848	515,000	D
Units of Beneficial Interest	12/31/2007		P		4,800	A	$22.12	519,800	D
Units of Beneficial Interest	12/31/2007		P		200	A	$22.19	520,000	D
Units of Beneficial Interest	12/31/2007		P		999	A	$22.1969	520,999	D
Units of Beneficial Interest	12/31/2007		P		4,001	A	$22.2431	525,000	D
Units of Beneficial Interest	12/31/2007		P		5,000	A	$22.2478	530,000	D
Units of Beneficial Interest	12/31/2007		P		11	A	$22.25	530,011	D
Units of Beneficial Interest	12/31/2007		P		943	A	$22.2931	530,954	D
Units of Beneficial Interest	12/31/2007		P		4,046	A	$22.348	535,000	D
Units of Beneficial Interest	12/31/2007		P		2,016	A	$22.3465	537,016	D
Units of Beneficial Interest	12/31/2007		P		2,984	A	$22.3986	540,000	D
Units of Beneficial Interest	12/31/2007		P		25,000	A	$22.35	565,000	D
Units of Beneficial Interest	12/31/2007		P		5,000	A	$22.3488	570,000	D
Units of Beneficial Interest	12/31/2007		P		5,000	A	$22.3484	575,000	D
Units of Beneficial Interest	12/31/2007		P		5,000	A	$22.3432	580,000	D
Units of Beneficial Interest	12/31/2007		P		5,000	A	$22.3485	585,000	D
Units of Beneficial Interest	12/31/2007		P		6,700	A	$22.41	591,700	D
Units of Beneficial Interest	12/31/2007		P		2,800	A	$22.46	594,500	D
Units of Beneficial Interest	01/02/2008		P		300	A	$22.5933	594,800	D
Units of Beneficial Interest	01/02/2008		P		310	A	$22.7401	595,110	D
Units of Beneficial Interest	01/02/2008		P		4,890	A	$22.8559	600,000	D
Units of Beneficial Interest	01/02/2008		P		5,000	A	$22.8958	605,000	D
Units of Beneficial Interest	01/02/2008		P		2,800	A	$22.9028	607,800	D
Units of Beneficial Interest	01/02/2008		P		2,200	A	$22.96	610,000	D
Units of Beneficial Interest	01/02/2008		P		5,000	A	$22.9673	615,000	D
Units of Beneficial Interest	01/02/2008		P		5,000	A	$22.97	620,000	D
Units of Beneficial Interest	01/02/2008		P		5,000	A	$22.9832	625,000	D
Units of Beneficial Interest	01/02/2008		P		2,800	A	$22.9857	627,800	D
Units of Beneficial Interest	01/02/2008		P		5,000	A	$23.05	632,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:

Form 1 of 2 forms reporting transactions on December 31, 2007 and January 2, 2008.

	Frank G. McDonald, Attorney-in-Fact for Bob R. Simpson	01/03/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.