Mar. 21 at 12:03 PM
$HGTXU (Hugoton Royalty Trust, an oil/gas royalty trust) declares NO March cash distribution due to excess costs across all assets. Cash reserves dipped
$28K for expenses. OK saw partial cost recovery, but cumulative excess costs remain high:
$1.75M (KS),
$2.24M (OK),
$8.18M (WY).
$8.4M net development costs charged for 6 new wells. Ongoing financial strain limits distributions until reserves rebuild. Bearish near-term outlook given persistent cost overhang.
Link: https://www.prnewswire.com/news-releases/hugoton-royalty-trust-declares-no-march-cash-distribution-302405541.html