CROSS TIMBERS ROYALTY TRUST DECLARES NOVEMBER CASH DISTRIBUTION

Rhea-AI Summary

Cross Timbers Royalty Trust (NYSE:CRT) declared a cash distribution of $0.149994 per unit, payable on December 14, 2023, to unitholders of record on November 30, 2023. The distribution is based on underlying oil and gas sales and average prices. XTO Energy recovered $179,000 of excess costs on properties underlying the Texas Working Interest net profits interests, with $2,349,000 remaining in cumulative excess costs.

DALLAS, Nov. 17, 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 $0.149994 per unit, payable on December 14, 2023, to unitholders of record on November 30, 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		21,000			140,000		$76.47		$4.60
Prior Month Distribution			14,000		105,000		$75.47			$3.97
(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 $179,000 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 total $2,349,000, including accrued interest of $798,000.

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

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SOURCE Cross Timbers Royalty Trust

FAQ

What is the cash distribution declared by Cross Timbers Royalty Trust?

The cash distribution declared by Cross Timbers Royalty Trust is $0.149994 per unit, payable on December 14, 2023.

When will the cash distribution be payable to unitholders?

The cash distribution will be payable to unitholders of record on November 30, 2023.

What is the website for more information on Cross Timbers Royalty Trust?

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

How much of excess costs were recovered on properties underlying the Texas Working Interest net profits interests?

XTO Energy recovered $179,000 of excess costs on properties underlying the Texas Working Interest net profits interests.