Hugoton Royalty Trust No December Cash Distribution

Hugoton Royalty Trust will not declare a cash distribution for December 2025 due to excess costs on all three conveyances of net profits interests. The Trust's cash reserve decreased by $63,000 for Trust expenses. Future distributions are contingent on replenishing the cash reserve, with no distributions anticipated in the near term. Underlying gas and oil sales volumes for the current month were primarily produced in September. Mach Natural Resources reported development costs of $8,000, production expenses of $1,472,000, and overhead of $921,000 for the current month. Excess costs increased by $70,000 on Kansas net profits interests, totaling $2,751,000. In Oklahoma, $184,000 in excess costs were recovered, leaving $8,635,000. Wyoming saw an increase of $247,000 in excess costs, totaling $11,222,000. These balances do not include a $1,000,000 advance from XTO Energy.