Hugoton Royalty Trust
HGTXU
Other OTC- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Alexey Drobkov
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 3838 Oak Lawn Avenue Dallas TX United States of America 75219-4518
- IPO Date
- Apr 9, 1999
- CIK
- 0000862022
- Website
- hgt-hugoton.com
- Similar Companies
- Business
- Hugoton Royalty Trust (OTCQB: HGTXU) operates as an express trust that holds 80% net profits interests in predominantly natural gas-producing properties located in Kansas, Oklahoma, and Wyoming; these net profits interests entitle the Trust to 80% of the net proceeds, calculated by deducting production costs, development costs, and overhead from revenues generated by the underlying working interests owned by the operator. The Trust's sole assets consist of these net profits interests, along with cash reserves maintained for administrative expenses and potential distributions to unitholders of its 40 million units of beneficial interest; monthly net profits income, if any, is collected from the operator and distributed within ten business days to month-end unitholders, subject to the Trustee's calculations. Founded on December 1, 1998, through a conveyance from XTO Energy Inc., the Trust is administered by Argent Trust Company as Trustee and maintains its principal office at 3838 Oak Lawn Avenue, Suite 1720, Dallas, Texas 75219. In a significant operational change, XTO Energy divested its interests in the underlying properties to Mach Natural Resources LP and affiliates, which closed on April 30, 2025, with Mach assuming operatorship and obligations under the Trust Indenture; this transition followed XTO providing advance distributions to support the Trust's liquidity for financial reporting and expenses amid ongoing excess cost positions across all conveyances. Recent developments include persistent excess costs totaling over $12 million as of early 2025, leading to no cash distributions to unitholders since July 2023, reductions in the Trust's cash reserve for expenses, late SEC filings prompting a temporary move to OTC Pink in June 2025 before re-listing on OTCQB, dismissal of its auditor, and management expressing substantial doubt about the Trust's ability to continue as a going concern while evaluating options such as termination or asset sales requiring 80% unitholder approval.