Hugoton Royalty Trust News Release HUGOTON ROYALTY TRUST DECLARES JUNE CASH DISTRIBUTION Dallas, Texas, June 20, 2017 - Southwest Bank, as Trustee of the Hugoton Royalty Trust (NYSE:HGT) (the "Trust"), today declared a cash distribution to the holders of its units of beneficial interest of $0.010096 per unit, payable on July 17, 2017, to unitholders of record on June 30, 2017. The following table shows underlying gas sales and average prices attributable to the net overriding royalty for both the current month and prior month. Underlying gas sales volumes attributable to the current month were primarily produced in April.

Underlying Gas Sales Volumes (Mcf) (a)

Average Gas

Total Daily

Price per Mcf

Current Month

1,154,000 38,000

$2.77

Prior Month

1,179,000 38,000

$2.54

(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 it has deducted budgeted development costs of $200,000, production expense of $1,442,000 and overhead of $987,000 in determining the royalty payment to the Trust for the current month.

Hugoton Royalty Trust

Excess Costs

XTO Energy has advised the trustee that decreased gas production in the current month distribution caused costs to exceed revenues on properties underlying the Kansas net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.

XTO Energy has advised the trustee that increased gas prices led to the partial recovery of excess costs on properties underlying the Wyoming net profits interests. However, after the partial recovery there were no remaining proceeds from properties underlying the Wyoming net profits interests to be included in the current month's distribution.

For more information on the Trust, please visit our web site atwww.hgt-hugoton.com.

Statements made in this press release regarding future events or conditions are forward looking statements. Actual future results, including development costs and future net profits, could differ materially due to changes in natural gas prices and other economic conditions affecting the gas industry and other factors described in Part I, Item 1A of the Trust's Annual Report on Form 10-K for the year ended December 31, 2016.

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Contact: Nancy Willis

Vice President Southwest Bank, Trustee 855-588-7839

Hugoton Royalty Trust published this content on 20 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 June 2017 17:44:03 UTC.

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