DALLAS, April 19,
2024 /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 $0.135867 per
unit, payable on May 14, 2024, to
unitholders of record on April 30,
2024. 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
|
|
255,000
|
|
$72.14
|
|
$3.71
|
|
|
Prior Month
Distribution
|
|
15,000
|
|
50,000
|
|
$73.26
|
|
$5.94
|
|
|
|
(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 gas volumes increased from
prior month primarily due to out of period revenues attributable to
non-operated properties in the Oklahoma Royalty Interest net
profits interests. This contributed to a higher cash distribution
in the current month.
Excess Costs
XTO Energy has advised the Trustee excess costs increased by
$106,000 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 $3,505,000, including accrued interest of
$907,000.
XTO Energy has advised the Trustee that $215,000 of excess costs were recovered on
properties underlying the Oklahoma Working Interest net profits
interests. However, after the partial recovery, there were no
remaining proceeds from the properties underlying the Oklahoma
Working Interest net profits interests to be included in this
month's distribution. Underlying cumulative excess costs remaining
on the Oklahoma Working Interest net profits interests total
$515,000, including accrued interest
of $5,329.
For more information on the Trust, including the annual tax
information, distribution amounts, and historical press releases,
please visit our website at www.crt-crosstimbers.com.
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content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-april-cash-distribution-302121384.html
SOURCE Cross Timbers Royalty Trust