DORCHESTER HUGOTON ANNOUNCES CASH DISTRIBUTION
DORCHESTER HUGOTON ANNOUNCES CASH DISTRIBUTION DALLAS, March 17 /PRNewswire/ -- Dorchester Hugoton, Ltd.
(NASDAQ-NMS: DHULZ) announced today the partnership's 40th cash distribution since its formation in 1982. The distribution of 5 cents per Unit for the first calendar quarter of 1992 is payable on April 16, 1992 to depositary receipt holders of record on March 31, 1992.
The partnership also announced that it anticipates about a 25 percent reduction in its Kansas natural gas production during 1992 compared to 1991. These reductions are the result of lower state regulated Hugoton Field allowables, as well as anticipated discretionary lower production levels in preparation for state tests or in response to continued weak spot market prices. The Hugoton Field allowables are calculated by the Kansas Corporation Commission in accordance with the Well Proration Regulations and take into account such factors as gas market demand and shut-in wellhead pressures which are taken biannually during state well testing. These reductions are expected to have a materially adverse effect on the partnership's 1992 revenues, net income and cash flows. However, the dollar impact of these reductions cannot be quantified due to the continued volatility of natural gas pricing in the marketplace. Oklahoma gas production volumes are anticipated to remain approximately the same as last year. Dorchester Hugoton, Ltd., is a Dallas based producer of natural gas and its Depositary Receipts trade on the NASDAQ National Market System. -0- 3/17/92 /CONTACT: Preston A. Peak, president of P.A. Peak, Inc. and general partner of Dorchester Hugoton, 214-340-3443/ (DHULZ) CO: Dorchester Hugoton Ltd. ST: Texas IN: OIL SU: DIV
SH -- NY011 -- 8662 03/17/92 09:22 EST
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|Date:||Mar 17, 1992|
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