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Cross Timbers Royalty Trust Declares May Cash Distribution

DALLAS, May 20, 2019 /PRNewswire/ -- Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.082025 per unit, payable on June 14, 2019, to unitholders of record on May 31, 2019. 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


16,000


96,000


$55.68


$4.30









Prior Month Distribution


14,000


227,000


$48.11


$4.23


(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 $62,110 of excess costs was 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 $1.5 million, including accrued interest of $282,000.

XTO Energy has advised the Trustee that decreased development costs in the current month distribution led to the full recovery of excess costs of $11,000 on properties underlying the Oklahoma Working Interest net profits interests.

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

Cision

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