Cross Timbers Royalty Trust Declares April Cash Distribution

|Apr 20|magazine4 min read

DALLAS, April 20, 2020 /PRNewswire/ -- Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE:CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.085888 per unit, payable on May 14, 2020, to unitholders of record on April 30, 2020. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.



Underlying Sales





Volumes (a) 


Average Price



Oil

(Bbls)


Gas

(Mcf)


Oil

(per Bbl)


Gas

(per Mcf)









Current Month Distribution


15,000


154,000


$52.21


$2.40









Prior Month Distribution


17,000


91,000


$56.72


$3.49










(a)   Sales volumes are recorded in the month the Trust receives the related net profits income.  Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts.


Excess Costs

XTO Energy has advised the Trustee that $117,000 of excess costs were recovered on properties underlying the Texas Working Interest net profits interests. However, after the partial recovery, there were no remaining proceeds from the properties underlying the Texas Working Interest net profits interests to be included in this month's distribution. Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests after the current month's distribution total $2.2 million, including accrued interest of $375,000.

For more information on the Trust, please visit our web site at www.crt-crosstimbers.com.

 

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SOURCE Cross Timbers Royalty Trust