Cross Timbers Royalty Trust Declares September Cash Distribu

|Sep 18|magazine5 min read

DALLAS, Sept. 18, 2020 /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 $0.032047 per unit, payable on October 15, 2020, to unitholders of record on September 30, 2020. 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


15,000


113,000


$37.97


$1.65












Prior Month Distribution


16,000


99,000


$31.34


$2.83












(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 $20,000 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 $2.6 million, including accrued interest of $408,000.

XTO Energy has advised the Trustee that $20,000 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 interest to be included in this month's distribution. Underlying cumulative excess costs remaining on the Oklahoma Working Interest net profits interests after the current month's distribution total $0.3 million, including accrued interest of $2,000.

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

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SOURCE Cross Timbers Royalty Trust