Cross Timbers Royalty Trust Declares September Cash Distribution

Rhea-AI Summary

Cross Timbers Royalty Trust (NYSE: CRT) has declared a cash distribution of $0.162571 per unit for September 2021, with an ex-dividend date of September 30, 2021 and payment set for October 15, 2021. Current month distributions showed underlying sales of 14,000 Bbls of oil and 134,000 Mcf of gas. Average prices increased to $68.14 per Bbl for oil and $6.53 per Mcf for gas. However, $56,000 in excess costs were recovered, leaving cumulative excess costs of $2.7 million after the latest distribution.

Positive

• Declared cash distribution of $0.162571 per unit.
• Increased average prices: $68.14 per Bbl for oil and $6.53 per Mcf for gas.

Negative

• No proceeds from properties underlying Texas Working Interest for this month's distribution.
• Cumulative excess costs of $2.7 million remain after the distribution.

DALLAS, Sept. 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 $0.162571 per unit, payable on October 15, 2021, to unitholders of record on September 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		14,000		134,000		$68.14		$6.53
Prior Month Distribution		15,000		77,000		$62.74		$5.00

(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 $56,000 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 $2.7 million, including accrued interest of $496,000.

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-september-cash-distribution-301380305.html

SOURCE Cross Timbers Royalty Trust

FAQ

What is the cash distribution amount declared by Cross Timbers Royalty Trust in September 2021?

Cross Timbers Royalty Trust declared a cash distribution of $0.162571 per unit for September 2021.

When is the payment date for the September 2021 distribution for CRT?

The payment date for the September 2021 distribution for Cross Timbers Royalty Trust is October 15, 2021.

What are the average prices for oil and gas for September 2021 as per the CRT press release?

For September 2021, the average prices were $68.14 per Bbl for oil and $6.53 per Mcf for gas.

What excess costs were reported in the September 2021 release for Cross Timbers Royalty Trust?

XTO Energy reported $56,000 in excess costs recovered, with cumulative excess costs totaling $2.7 million after the latest distribution.

What underlying sales figures were reported for oil and gas in September 2021 by CRT?

Cross Timbers Royalty Trust reported underlying sales of 14,000 Bbls of oil and 134,000 Mcf of gas for September 2021.