XTO Energy Inc. Extends Tender Offer to Purchase All Outstanding Units in Hugoton Royalty Trust
13 Mai 2020 - 2:00PM
Business Wire
- Offer Now Scheduled to Expire at 5:00 p.m., New York City
Time, on Tuesday, May 26, 2020
XTO Energy Inc. (“XTO Energy”) today announced
that it has extended the offering period of its previously
announced tender offer to purchase all outstanding units of
beneficial interest (the “Units”) in Hugoton Royalty Trust (OTCQX:
HGTXU, the “Trust”) at a price of $0.20 per Unit, net to the seller
in cash, without interest and subject to any withholding of taxes.
The tender offer is now scheduled to expire at 5:00 p.m., New York
City time, on Tuesday, May 26, 2020, unless the tender offer is
further extended or earlier terminated in accordance with the terms
set forth in the Tender Offer Statement. The tender offer was
extended to allow additional time, in light of the impacts of the
COVID-19 pandemic, for unitholders to complete and return the
transmittal documentation and to give instructions to their
brokers.
As of 5:00 p.m., New York City time, on May 12, 2020, the last
business day prior to the announcement of the extension of the
tender offer, 6,772,120 Units (excluding 21,000 Units with respect
to which “Notices of Guaranteed Delivery” were delivered) had been
validly tendered and not withdrawn, representing approximately
16.9% of the outstanding Units. Unitholders of the Trust who have
already tendered their Units do not need to re-tender their Units
or take any other action as a result of the extension of the
expiration date of the tender offer.
The tender offer is being made pursuant to the tender offer
materials (including an Offer to Purchase, a related Letter of
Transmittal and certain other offer documents) in the Tender Offer
Statement on Schedule TO (together with any amendments or
supplements thereto, the “Tender Offer Statement”) filed by XTO
Energy with the United States Securities and Exchange Commission
(the “SEC”) on April 1, 2020, as amended. Consummation of the
tender offer remains subject to the conditions described in the
Tender Offer Statement, including that there be validly tendered
and not withdrawn a number of Units (excluding Units with respect
to which “Notices of Guaranteed Delivery” were delivered) that
represents at least 80% of the Units outstanding as of the date of
acceptance and completion of the tender offer.
Requests for documents and questions regarding the tender offer
may be directed to Georgeson LLC toll free at (800) 676-0281 (for
unitholders, banks and brokers) or by email to
hugoton@georgeson.com.
About XTO Energy Inc.
XTO Energy, a wholly owned subsidiary of Exxon Mobil
Corporation, is a leading oil and natural gas producer in the
United States with expertise in developing tight gas, shale gas and
unconventional oil resources.
Additional Information and Where to Find It
The tender offer referenced herein commenced on April 1, 2020.
This announcement is neither an offer to purchase nor a
solicitation of an offer to sell Units of the Trust, nor is it a
substitute for the tender offer materials that XTO Energy has filed
with the SEC. On April 1, 2020, XTO Energy filed the Tender Offer
Statement with the SEC, as amended from time to time. Unitholders
of the Trust and other investors are urged to read the Tender Offer
Statement because it contains important information which should be
read carefully before any decision is made with respect to the
tender offer.
The Tender Offer Statement, including any amendments related
thereto, are available for free at the SEC’s web site at
www.sec.gov. In addition, the Tender Offer Statement may be
obtained free of charge from the information agent by contacting
Georgeson LLC toll free at (800) 676-0281 (for unitholders, banks
and brokers), or by email to hugoton@georgeson.com.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements. In some
cases, you can identify forward-looking statements by terminology
such as “may,” “will,” “should,” “would,” “could,” “expects,”
“plans,” “contemplate,” “anticipates,” “believes,” “estimates,”
“predicts,” “projects,” “intend” or “continue” or the negative of
such terms or other comparable terminology, although not all
forward-looking statements contain these identifying words.
Forward-looking statements are subject to inherent risks and
uncertainties in predicting future results and conditions that
could cause the actual results to differ materially from those
projected in these forward-looking statements. Forward-looking
statements are not guarantees of future performance, and our actual
results of operations, financial condition and liquidity, and the
development of the industry in which we operate, may differ
materially from the forward-looking statements contained in this
press release. Any forward-looking statements that we make in this
press release speak only as of the date of this press release. We
assume no obligation to update our forward-looking statements
whether as a result of new information, future events or otherwise,
after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20200513005221/en/
XTO Media Relations: (972) 940-6007
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