EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF HUGOTON ROYALTY TRUST APPEARS HERE]
HUGOTON ROYALTY TRUST
DECLARES APRIL CASH DISTRIBUTION
Dallas, Texas, April 20, 2004 – Bank of America, N.A., as Trustee of the Hugoton Royalty Trust (NYSE – HGT), today declared a cash distribution to the holders of its units of beneficial interest of $0.160935 per unit, payable on May 14, 2004, to unitholders of record on April 30, 2004. The following table shows underlying gas sales and average prices attributable to the current month and prior month distributions. Underlying gas sales volumes attributable to the current month distribution were primarily produced in February.
| | | | | | | |
| | | Underlying Gas Sales Volumes (Mcf)
| | Average Gas Price per Mcf
|
| | | Total
| | Daily
| |
Current Month Distribution | | 2,401,000 | | 83,000 | | $ | 5.07 |
Prior Month Distribution | | 2,547,000 | | 82,000 | | $ | 5.33 |
Budgeted development costs of $1,700,000 were deducted for this distribution. Production expense for the month was $1,484,000 and overhead was $590,000.
For more information on the Trust, please visit our web site at www.hugotontrust.com.
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| | | | |
Contacts: | | Nancy G. Willis | | Louis G. Baldwin |
| | | Vice President | | Executive Vice President & |
| | | Bank of America, N.A. | | Chief Financial Officer |
| | | (Toll Free) | | XTO Energy, Inc. |
| | | 877/228-5083 | | 817/870-2800 |
