DALLAS, Feb. 16 /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 $0.138035 per unit, payable on March 12, 2010, to unitholders of record on February 26, 2010. 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 Volumes (Mcf) (a) ---------------- Average Gas Total Daily Price per Mcf ----- ----- ------------- Current Month Distribution 2,047,000 66,000 $4.92 Prior Month Distribution 2,094,000 70,000 $4.75 (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 $500,000, production expense of $1,693,000 and overhead of $907,000 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.
SOURCE U.S. Trust