HGTXUHugoton Royalty Trust

About Hugoton Royalty Trust (HGTXU)

Hugoton Royalty Trust (HGTXU) is a Oil & Gas E&P company headquartered in Dallas, TX, United States whose shares trade over-the-counter on the OTCQB tier.

Hugoton Royalty Trust (the "Trust") is an express trust created under the laws of Texas pursuant to the Hugoton Royalty Trust Indenture entered into on December 1, 1998 between XTO Energy Inc. (formerly known as Cross Timbers Oil Company), as grantor, and NationsBank, N.A., as Trustee. Argent Trust Company (the "Trustee") is now the Trustee of the Trust. The principal office of the Trust is 3838 Oak Lawn Ave, Suite 1720, Dallas, TX 75219-4518, (telephone number 855-588-7839). On October 21, 2022, Simmons Bank, as trustee, submitted a notice of resignation as trustee of the Trust to the unitholders. The trustee's notice of resignation stated that it would nominate Argent Trust Company, a Tennessee chartered trust company ("Argent"), as its successor. At a special meeting of the Trust's unitholders held February 23, 2023, the unitholders of the Trust voted to approve the appointment of Argent as successor trustee of the Trust once the resignation of Simmons Bank took effect. The proposal regarding related amendments to the indenture of the Trust did not receive sufficient votes for approval. On April 4, 2023, upon request of Simmons Bank, as trustee of the Trust and a unitholder of the Trust, the District Court of Tarrant County, Texas, 236th Judicial District approved an order modifying Article VI, Section 6.08 of the Trust's indenture so that it permits a successor trustee of the Trust to have capital, surplus and undivided profits of not less than $15,000,000.

Products and services

Hugoton Royalty Trust (the "Trust") is an express trust created under the laws of Texas pursuant to the Hugoton Royalty Trust indenture entered into on December 1, 1998 between XTO Energy Inc. (formerly known as Cross Timbers Oil Company and, hereafter, "XTO Energy"), as grantor, and NationsBank, N.A., as Trustee. Argent Trust Company (the "Trustee") is now Trustee of the Trust. The net profits interests entitle the Trust to receive 80% of the net proceeds from the sale of oil and gas from the underlying properties. Each month XTO Energy determines the amount of cash received from the sale of production and deducts property and production taxes, production expenses, development costs and overhead. Net proceeds payable to the Trust depend upon production quantities, sales prices of oil and gas and costs to develop and produce oil and gas in the prior month. If monthly costs exceed revenues for any of the three conveyances (one for each of the states of Kansas, Oklahoma and Wyoming), such excess costs cannot reduce net proceeds from other conveyances.

HGTXU key facts

Ticker symbol

HGTXU

Market tier

OTCQB

Sector

Energy

Industry

Oil & Gas E&P

Headquarters

Dallas, TX, United States

Country of incorporation

US

Year of incorporation

1998

Estimated market cap

$19.00M (as of Apr 9, 2025)

Shares outstanding

40,000,000

Reporting standard

U.S. Reporting: SEC Reporting

Audit status

Audited

Fiscal year end

12/31

Hugoton Royalty Trust leadership

• Nancy Willis — Managing Director
• Jana Egeler — Vice President
• Chris Holtzclaw — Chief Legal Officer
• Blake Butler — Administrator

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