8-K

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):  October 19, 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, 17th 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 October 19, 2007, the Registrant issued a news release announcing its monthly cash distribution to unitholders of record on October 31, 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 October 19, 2007

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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: October 19, 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

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EXHIBIT INDEX

Exhibit Number and Description

99.1 News Release dated October 19, 2007

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EX-99.1

EXHIBIT 99.1

[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]

HUGOTON ROYALTY TRUST

DECLARES OCTOBER CASH DISTRIBUTION

 Dallas, Texas, October 19, 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 $0.134913 per unit, payable on November 15, 2007, to unitholders of record on October 31, 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 August.

	Underlying Gas Sales Volumes (Mcf) (a)
		Total	Daily	Average Gas Price per Mcf
Current Month Distribution		2,427,000	78,000	$   5.09
Prior Month Distribution		2,383,000	77,000	$   5.58

(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 eight wells are currently being drilled on the underlying properties and that it has deducted budgeted development costs of $3,750,000, production expense of $1,643,000 and overhead of $779,000 in determining the royalty payment to the Trust for the month of October.

Other

 XTO Energy has advised the trustee that scheduled pipeline maintenance, near maximum capacity utilization on pipelines moving gas out of the Rocky Mountain region and moderate regional demand have led to lower realized gas prices for production in this area, resulting in lower monthly trust distributions. With current pipeline expansions not projected for completion until early 2008, the downward pressure on realized gas prices and monthly distributions is expected to continue over the near term.

 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

Statements made in this press release, including those related to completion of pipeline expansions and future realized gas prices and monthly trust distributions, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties which are detailed in Part I, Item 1A of the trust’s Annual Report on Form 10-K for the year ended December 31, 2006, which is incorporated by this reference as though fully set forth herein. Although XTO Energy and the trustee believe that the expectations reflected in such forward-looking statements are reasonable, neither XTO Energy nor the trustee can give any assurance that such expectations will prove to be correct.