CROSS TIMBERS ROYALTY TRUST DECLARES SEPTEMBER CASH DISTRIBUTION

Rhea-AI Summary

Cross Timbers Royalty Trust declares September cash distribution.

Positive

• Cash distribution of $0.090731 per unit declared, payable on October 16, 2023.
• Underlying sales volumes and average prices for current and prior month distributions provided.

Negative

• Excess costs increased by $41,000 on properties underlying Texas Working Interest net profits interests.

DALLAS, Sept. 19, 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 $0.090731 per unit, payable on October 16, 2023, to unitholders of record on September 29, 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		12,000			108,000		$72.38		$4.01
Prior Month Distribution			17,000		130,000		$71.01		$4.33

(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 $41,000 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 $2,414,000, including accrued interest of $764,000.

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

 

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SOURCE Cross Timbers Royalty Trust