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HUGTN ROY : Hugoton Royalty Trust Declares June Cash Distribution

06/20/2011 | 10:05am US/Eastern

DALLAS, June 20, 2011 /PRNewswire/ -- 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 $0.132635 per unit, payable on July 15, 2011, to unitholders of record on June 30, 2011. 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 April.

                                  Underlying Gas
                                Volumes (Mcf) (a)        Average Gas
                                                         Price per
                              Total         Daily           Mcf
                              -----         -----       ----------

      Current Month
       Distribution         1,769,000       59,000            $5.04

      Prior Month
       Distribution         1,874,000       60,000            $4.65


(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 $850,000, production expense of $1,460,000 and overhead of $902,000 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.

Statements made in this press release regarding future events or conditions are forward looking statements. Actual future results, including development costs, 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, 2010.


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