CROSS TIMBERS ROYALTY TRUST DECLARES OCTOBER CASH DISTRIBUTION

Rhea-AI Summary

Cross Timbers Royalty Trust declares October cash distribution

Positive

• Cross Timbers Royalty Trust declared a cash distribution of $0.109923 per unit to its unitholders.
• The cash distribution will be payable on November 14, 2023.
• Underlying oil sales for the current month distribution were 14,000 barrels at an average price of $75.47 per barrel.
• Underlying gas sales for the current month distribution were 105,000 Mcf at an average price of $3.97 per Mcf.
• Excess costs on properties underlying the Texas Working Interest net profits interests increased by $79,000.

Negative

• None.

DALLAS, Oct. 20, 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 $0.109923 per unit, payable on November 14, 2023, to unitholders of record on October 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		14,000			105,000		$75.47		$3.97
Prior Month Distribution			12,000		108,000		$72.38		$4.01
(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 $79,000 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 $2,510,000, including accrued interest of $780,000.

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-october-cash-distribution-301962859.html

SOURCE Cross Timbers Royalty Trust

FAQ

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

Cross Timbers Royalty Trust declared a cash distribution of $0.109923 per unit.

When will the cash distribution be payable?

The cash distribution will be payable on November 14, 2023.

What were the underlying oil sales for the current month distribution?

The underlying oil sales for the current month distribution were 14,000 barrels at an average price of $75.47 per barrel.

What were the underlying gas sales for the current month distribution?

The underlying gas sales for the current month distribution were 105,000 Mcf at an average price of $3.97 per Mcf.

How much did the excess costs on properties underlying the Texas Working Interest net profits interests increase by?

The excess costs increased by $79,000.