DALLAS, July 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 $0.193559 per unit, payable on August 14, 2023, to unitholders of record on July 31, 2023. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.
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| Underlying Sales
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| Volumes (a)
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| Average Price
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| Oil
(Bbls)
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| Gas
(Mcf)
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| Oil
(per Bbl)
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| Gas
(per Mcf)
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| Current Month Distribution
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| 23,000
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| 97,000
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| $78.43
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| $4.35
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| Prior Month Distribution
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| 13,000
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| 78,000
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| $74.36
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| $6.15
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(a)
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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.
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Excess Costs
XTO Energy has advised the Trustee that excess costs increased by $89,000 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 $2,333,000, including accrued interest of $730,000.
XTO Energy has advised the Trustee that excess costs of $107,000, including accrued interest of $31,000, were fully recovered on properties underlying the Oklahoma Working Interest net profits interests.
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-july-cash-distribution-301882718.html
SOURCE Cross Timbers Royalty Trust
FAQ
What is the cash distribution declared by Argent Trust Company for Cross Timbers Royalty Trust?
Argent Trust Company declared a cash distribution of $0.193559 per unit for Cross Timbers Royalty Trust.
When is the cash distribution payable?
The cash distribution is payable on August 14, 2023.
What are the underlying oil and gas sales volumes and average prices for the current and prior month distributions?
For the current month distribution, the sales volumes are 23,000 barrels of oil and 97,000 Mcf of gas, with average prices of $78.43 per barrel of oil and $4.35 per Mcf of gas. For the prior month distribution, the sales volumes were 13,000 barrels of oil and 78,000 Mcf of gas, with average prices of $74.36 per barrel of oil and $6.15 per Mcf of gas.
What are excess costs on the Texas Working Interest net profits interests?
Excess costs on the Texas Working Interest net profits interests increased by $89,000, totaling $2,333,000 including accrued interest of $730,000. However, these excess costs did not reduce net proceeds from the remaining conveyances.
What are excess costs on the Oklahoma Working Interest net profits interests?
Excess costs of $107,000, including accrued interest of $31,000, were fully recovered on properties underlying the Oklahoma Working Interest net profits interests.
Where can I find more information about Cross Timbers Royalty Trust?
More information about Cross Timbers Royalty Trust can be found on their website at www.crt-crosstimbers.com.
