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8-K - HUGOTON ROYALTY TRUST | v211789_8k.htm |
EXHIBIT
99.1
[NEWS
RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]
HUGOTON
ROYALTY TRUST
DECLARES
FEBRUARY CASH DISTRIBUTION
Dallas, Texas, February 17,
2011 – 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 $0.120609 per unit, payable
on March 14, 2011, to unitholders of record on February 28, 2011. The following
table shows underlying gas sales and average prices attributable to the net
overriding royalty payments made by XTO Energy Inc. (XTO Energy) to the Trust
for both the current month and prior month distributions. Underlying
gas sales volumes attributable to the current month distribution were primarily
produced in December.
Underlying
Gas Sales
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Volumes
(Mcf) (a)
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Average
Gas
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Total
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Daily
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Price
per Mcf
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||||
Current
Month Distribution
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1,866,000
|
60,000
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$
4.74
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|||
Prior
Month Distribution
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1,917,000
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64,000
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$
3.84
|
|
(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
$2,001,000 and overhead of $891,000 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, 2009.
* * *
Contact:
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Nancy
G. Willis
Vice
President
U.S.
Trust, Bank of America Private Wealth Management,
Trustee
(Toll
Free)
877-228-5083
|