CROSS TIMBERS ROYALTY TRUST DECLARES SEPTEMBER CASH DISTRIBUTION

Rhea-AI Summary

Cross Timbers Royalty Trust (NYSE:CRT) has announced a cash distribution of $0.200401 per unit, scheduled for October 17, 2022, to unitholders of record as of September 30, 2022. The Trust reported 13,000 Bbls of oil and 107,000 Mcf of gas for this distribution, with average prices of $104.88 per Bbl and $9.55 per Mcf. Although $45,000 has been recovered in excess costs related to Texas properties, there are still $2.0 million in cumulative excess costs remaining.

Positive

• Scheduled cash distribution of $0.200401 per unit.
• Recovery of $45,000 in excess costs.

Negative

• Remaining cumulative excess costs of $2.0 million, including $614,000 in accrued interest.

DALLAS, Sept. 20, 2022 /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 $0.200401 per unit, payable on October 17, 2022, to unitholders of record on September 30, 2022. 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		13,000			107,000		$104.88		$9.55
Prior Month Distribution			13,000		107,000		$108.03			$9.42
(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 $45,000 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 $2.0 million, including accrued interest of $614,000.

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 announced by Cross Timbers Royalty Trust for September 2022?

The cash distribution announced is $0.200401 per unit.

When will the cash distribution be paid to unitholders?

The cash distribution will be paid on October 17, 2022.

What are the underlying sales volumes for Cross Timbers Royalty Trust's September 2022 distribution?

The Trust reported 13,000 Bbls of oil and 107,000 Mcf of gas.

What is the average price of oil for the current month distribution?

The average price of oil for the current month distribution is $104.88 per Bbl.

What is the current cumulative excess cost for Cross Timbers Royalty Trust?

The current cumulative excess cost is $2.0 million, including $614,000 in accrued interest.