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Hugoton Royalty Trust owns net profits interests in oil and gas properties primarily in Kansas, Oklahoma, and Wyoming. It receives 80% of net proceeds from production, mainly natural gas and oil, operated by XTO Energy. The trust's assets include depleting reserves from established fields, with income dependent on commodity prices, production costs, and operational risks. It functions as a passive income vehicle with limited unitholder rights.
This description was generated via AI from an annual report. Updated about 1 year ago.