Cross Timbers Royalty Trust Declares July Cash Distribution

Rhea-AI Summary

Simmons Bank, as Trustee of Cross Timbers Royalty Trust (CRT), announced a cash distribution of $0.123792 per unit, payable on August 13, 2021, to unitholders of record on July 30, 2021. The current month distribution includes sales of 18,000 Bbls of oil and 108,000 Mcf of gas, with average prices of $57.35 per Bbl and $4.55 per Mcf. Notably, $53,000 in excess costs were recovered, although there remains a cumulative excess of $2.8 million on Texas Working Interest. More information can be found at www.crt-crosstimbers.com.

Positive

• Declared cash distribution of $0.123792 per unit.
• Current month oil sales volumes increased to 18,000 Bbls.
• Gas sales volumes increased to 108,000 Mcf.

Negative

• No remaining proceeds from Texas Working Interest included in this month's distribution.
• Cumulative excess costs on Texas Working Interest total $2.8 million.

DALLAS, July 20, 2021 /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 $0.123792 per unit, payable on August 13, 2021, to unitholders of record on July 30, 2021. 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		18,000		108,000		$57.35			$4.55
Prior Month Distribution		13,000		47,000		$78.77			$7.15
(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 $53,000 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 $2.8 million, including accrued interest of $481,000.

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

 

View original content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-july-cash-distribution-301337289.html

SOURCE Cross Timbers Royalty Trust

FAQ

What is the cash distribution amount for Cross Timbers Royalty Trust (CRT) in July 2021?

The cash distribution amount is $0.123792 per unit.

When will the Cross Timbers Royalty Trust (CRT) cash distribution be paid?

The distribution will be paid on August 13, 2021, to unitholders of record on July 30, 2021.

What were the oil and gas sales volumes for Cross Timbers Royalty Trust (CRT) in July 2021?

The oil sales volumes were 18,000 Bbls and gas sales volumes were 108,000 Mcf.

What are the average prices for oil and gas for Cross Timbers Royalty Trust (CRT) in July 2021?

The average price for oil was $57.35 per Bbl and for gas was $4.55 per Mcf.

What is the status of excess costs for Cross Timbers Royalty Trust (CRT)?

After July 2021 distribution, the cumulative excess costs on Texas Working Interest total $2.8 million.