HGT 8K 0704 Cash Distribution

0000868809-07-000021.txt : 20070420 0000868809-07-000021.hdr.sgml : 20070420 20070420143315 ACCESSION NUMBER: 0000868809-07-000021 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070420 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070420 DATE AS OF CHANGE: 20070420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HUGOTON ROYALTY TRUST CENTRAL INDEX KEY: 0000862022 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] IRS NUMBER: 586379215 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10476 FILM NUMBER: 07778524 BUSINESS ADDRESS: STREET 1: C/O NATIONS BANK, N.A. TRUSTEE STREET 2: 901 MAIN ST., 17TH FLOOR CITY: DALLAS STATE: TX ZIP: 75202 BUSINESS PHONE: 2145082400 8-K 1 form_8k.htm HGT 8K 0704 CASH DISTRIBUTION HGT 8K 0704 Cash Distribution

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): April 20, 2007

HUGOTON ROYALTY TRUST

(Exact Name of Registrant as Specified in Its Charter)

Texas

(State or Other Jurisdiction of Incorporation)

1-10476	58-6379215
(Commission File Number)	(IRS Employer Identification No.)

Trust Division
Royalty Trust Group
Bank of America, N.A.
901 Main Street, 17^th Floor
P.O. Box 830650
Dallas, Texas	75283-0650
(Address of Principal Executive Offices)	(Zip Code)

(877) 228-5083

(Registrant’s Telephone Number, Including Area Code)

NONE

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On April 20, 2007, the Registrant issued a news release announcing its monthly cash distribution to unitholders of record on April 30, 2007. A copy of the news release is furnished as Exhibit 99.1.

The information in this Current Report, including the news release attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section.

Item 9.01. Financial Statements and Exhibits.

(c)

Exhibits.

99.1 News Release dated April 20, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HUGOTON ROYALTY TRUST

	By:	BANK OF AMERICA, N.A., TRUSTEE FOR
		HUGOTON ROYALTY TRUST

Date: April 20, 2007	By:	/s/ NANCY G. WILLIS
		Nancy G. Willis
		Vice President

	XTO ENERGY INC.

	By:	/s/ BENNIE G. KNIFFEN
		Bennie G. Kniffen
		Senior Vice President and Controller

EXHIBIT INDEX

Exhibit Number and Description

99.1 News Release dated April 20, 2007

EX-99.1 2 ex99_1.htm EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 Press Release

EXHIBIT 99.1

[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]

HUGOTON ROYALTY TRUST

DECLARES APRIL CASH DISTRIBUTION

Dallas, Texas, April 20, 2007 - Bank of America, N.A., as Trustee of the Hugoton Royalty Trust (NYSE - HGT), today declared a cash distribution to the holders of its units of beneficial interest of $0.175096 per unit, payable on May 14, 2007, to unitholders of record on April 30, 2007. The following table shows underlying gas sales and average prices attributable to the current month and prior month distributions. Underlying gas sales volumes attributable to the current month distribution were primarily produced in February.

	Underlying Gas Sales Volumes (Mcf) ^(a)
		Total	Daily	Average Gas Price per Mcf
Current Month Distribution		2,095,000	75,000	$ 6.59

Prior Month Distribution		2,305,000	74,000	$ 5.20

(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 nine wells are currently being drilled on the underlying properties and that it has deducted budgeted development costs of $2,000,000, production expense of $2,266,000 and overhead of $705,000 in determining the royalty payment to the Trust for the month of April.

Development Costs

Because of lower than anticipated actual costs as a result of the timing of expenditures, XTO Energy has advised the trustee that it decreased the monthly development cost deduction from $3,750,000 to $2,000,000 beginning with the April 2007 distribution. The development cost deduction is expected to be maintained at $2,000,000 for the May 2007 distribution, but is expected to be increased to $3,750,000 with the June 2007 distribution and maintained at that level through year end. The development cost deduction will continue to be evaluated by XTO Energy and revised as necessary.

For more information on the Trust, please visit our web site at www.hugotontrust.com.

* * *

Contacts:

Nancy G. Willis

Vice President

Bank of America, N.A.

(Toll Free)

877/228-5083

Louis G. Baldwin

Executive Vice President &

Chief Financial Officer

XTO Energy, Inc.

817/870-2800