SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 20, 2000 HUGOTON ROYALTY TRUST (Exact name of registrant as specified in the Hugoton Royalty Trust Indenture) Texas 1-10476 58-6379215 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) Bank of America, N.A., Trustee P.O. Box 830650 Dallas, Texas 75283-0650 (Address of principal executive offices) (Zip Code) (877) 228-5083 (Registrant's telephone number, including area code) Item 5. Other Events. Development Plans and Operational Outlook On December 20, 2000, Hugoton Royalty Trust issued a press release with respect to the development plans and operational outlook for properties underlying the Trust, as provided to the Trustee by Cross Timbers Oil Company. The Trust announced current estimates of development costs and production, as well as the expected relationship between realized natural gas prices and NYMEX prices for the fourth quarter 2000 and for the year 2001. The Trust also announced its development plans and provided mid-point distribution estimates for 2001 based on hypothetical price assumptions and expense estimates. A copy of the press release is filed as Exhibit 99.1. Item 7. Financial Statements and Exhibits. (c) Exhibits. The following exhibits are filed as part of this Current Report of Form 8-K: Exhibit Number and Description 99.1 Press Release dated December 20, 2000 -2- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HUGOTON ROYALTY TRUST By BANK OF AMERICA, N.A. TRUSTEE By: RON E. HOOPER ------------------------------ Ron E. Hooper Vice President CROSS TIMBERS OIL COMPANY Date: December 22, 2000 By: LOUIS G. BALDWIN --------------------------------- Louis G. Baldwin Executive Vice President and Chief Financial Officer -3- EXHIBIT INDEX Exhibit Number and Description 99.1 Press Release dated December 20, 2000 -4-