CROSS TIMBERS ROYALTY TRUST DECLARES AUGUST CASH DISTRIBUTION

Rhea-AI Summary

Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust, declared a cash distribution of $0.124242 per unit, payable on September 15, 2023. Underlying oil sales decreased from the prior month, while gas sales remained consistent. Excess costs increased by $7,000 on properties underlying the Texas Working Interest net profits interests.

DALLAS, Aug. 21, 2023 /PRNewswire/ -- Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the "Trust") (NYSE:CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.124242 per unit, payable on September 15, 2023, to unitholders of record on August 31, 2023. 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		17,000			130,000		$71.01		$4.33
Prior Month Distribution			23,000		97,000		$78.43			$4.35

(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 excess costs increased by $7,000 on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.  Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests total $2,356,000, including accrued interest of $746,000.

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

 

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SOURCE Cross Timbers Royalty Trust