DALLAS, Aug. 19 /PRNewswire-FirstCall/ -- 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 $0.328686 per unit, payable on September 15, 2008, to
unitholders of record on August 29, 2008. 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
June.
Underlying Gas Sales
Volumes (Mcf) (a) Average Gas
Total Daily Price per Mcf
Current Month Distribution 2,303,000 77,000 $9.80
Prior Month Distribution 2,415,000 78,000 $9.61
(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 nineteen wells are currently being
drilled on the underlying properties and that it has deducted budgeted
development costs of $3,750,000, production expense of $2,845,000 and overhead
of $856,000 in determining the royalty payment to the Trust for the current
month.
For more information on the Trust, please visit our web site at
http://www.hugotontrust.com.
Contacts: Nancy G. Willis Louis G. Baldwin
Vice President Executive Vice President &
U.S. Trust, Bank of Chief Financial Officer
America XTO Energy Inc.
Private Wealth 817-870-2800
Management,
Trustee
(Toll Free)
877-228-5083
SOURCE U.S. Trust
