CROSS TIMBERS ROYALTY TRUST DECLARES DECEMBER CASH DISTRIBUTION

Rhea-AI Summary

Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (NYSE:CRT), declared a cash distribution of $0.142897 per unit, payable on January 16, 2024, to unitholders of record on December 29, 2023. The underlying oil and gas sales and average prices for the current and prior month distributions are as follows: Current Month Distribution - 19,000 Bbls of oil at $84.61 per Bbl, 118,000 Mcf of gas at $5.24 per Mcf. Prior Month Distribution - 21,000 Bbls of oil at $76.47 per Bbl, 140,000 Mcf of gas at $4.60 per Mcf. XTO Energy advised an increase of $726,000 in excess costs on properties underlying the Texas Working Interest net profits interests, with total remaining excess costs of $3,091,000 including accrued interest of $815,000.

Positive

• None.

Negative

• Excess costs increased by $726,000, totaling $3,091,000 including accrued interest of $815,000.

DALLAS, Dec. 18, 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 $0.142897 per unit, payable on January 16, 2024, to unitholders of record on December 29, 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		19,000			118,000		$84.61		$5.24
Prior Month Distribution			21,000		140,000		$76.47			$4.60
(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 excess costs increased by $726,000 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 $3,091,000, including accrued interest of $815,000.

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

View original content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-december-cash-distribution-302017323.html

SOURCE Cross Timbers Royalty Trust

FAQ

What is the cash distribution declared by Argent Trust Company for Cross Timbers Royalty Trust (NYSE:CRT)?

Argent Trust Company declared a cash distribution of $0.142897 per unit, payable on January 16, 2024, to unitholders of record on December 29, 2023.

What are the underlying oil and gas sales and average prices for the current and prior month distributions by Cross Timbers Royalty Trust (NYSE:CRT)?

Current Month Distribution - 19,000 Bbls of oil at $84.61 per Bbl, 118,000 Mcf of gas at $5.24 per Mcf. Prior Month Distribution - 21,000 Bbls of oil at $76.47 per Bbl, 140,000 Mcf of gas at $4.60 per Mcf.

What is the total remaining excess costs on the Texas Working Interest net profits interests for Cross Timbers Royalty Trust (NYSE:CRT)?

The total remaining excess costs on the Texas Working Interest net profits interests is $3,091,000, including accrued interest of $815,000.