DALLAS, Oct. 21, 2019 /PRNewswire/ -- Simmons Bank, as Trustee of the Hugoton Royalty Trust (HGTXU) (the "Trust"), today declared there would not be a cash distribution to the holders of its units of beneficial interest for October 2019 due to the excess cost positions on all three of the Trust's conveyances of net profits interests. XTO Energy has advised the Trustee that excess costs were $142,000 on properties underlying the Kansas net profits interests for the current month.  Underlying cumulative excess costs remaining on the Kansas net profits interests total $1,779,000, including accrued interest of $216,000.

Simmons Bank, as Trustee of the Hugoton Royalty Trust (OTCQX:HGTXU) (the "Trust"), today declared there would not be a cash distribution to the holders of its units of beneficial interest for December 2019 due to the excess cost positions on all three of the Trust's conveyances of net profits interests. The following table shows underlying gas sales and average prices attributable to the net overriding royalty for both the current month and prior month. Underlying gas sales volumes attributable to the current month were primarily produced in October.

Simmons Bank, as Trustee of the Hugoton Royalty Trust (OTCQX:HGTXU) (the "Trust"), today announced that the arbitration hearing regarding the Chieftain settlement scheduled to commence April 27, 2020, has been postponed due to a continuance granted by the arbitrators at the request of XTO Energy related to the coronavirus pandemic, and a new date for the hearing will be announced once it has been determined.