DALLAS, Oct. 19, 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 $0.067003 per unit, payable on November 15, 2021, to unitholders of record on
October 29, 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)
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|
Oil
(per Bbl)
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|
Gas
(per Mcf)
|
|
|
|
|
|
|
|
|
|
Current Month
Distribution
|
|
(62,000)
|
|
8,000
|
|
$47.84
|
|
$26.98
|
|
|
|
|
|
|
|
|
|
Prior Month
Distribution
|
|
14,000
|
|
134,000
|
|
$68.14
|
|
$6.53
|
|
|
|
|
|
|
|
|
|
|
(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.
|
Current Month Distribution
XTO Energy has advised the Trustee that out of period
adjustments in the Texas Working Interest and Texas Royalty
Interest net profits interests had a significant impact on the oil
and gas sales volumes and average prices reported in the
October 2021 distribution.
Excess Costs
XTO Energy has advised the Trustee that excess costs increased
by $3,599,000 on properties
underlying the Texas Working Interest net profits interests due to
reversal of sales from the oil purchaser for the North Cowden Unit.
XTO Energy has advised the Trustee that it expects to receive
payment for these oil sales directly from the operator, once the
operator has recorded the sales in their system. 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 after the current month's
distribution total $6.3 million,
including accrued interest of $503,000.
For more information on the Trust, please visit our web site at
www.crt-crosstimbers.com.
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content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-october-cash-distribution-301403245.html
SOURCE Cross Timbers Royalty Trust