CROSS TIMBERS ROYALTY TRUST DECLARES JULY CASH DISTRIBUTION
DALLAS, July 21, 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 $0.193559 per unit, payable on August 14, 2023, to unitholders of record on July 31, 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 | 23,000 | 97,000 | $78.43 | $4.35 | |||||||
Prior Month Distribution | 13,000 | 78,000 | $74.36 | $6.15 | |||||||
(a) | Sales volumes are recorded in the month the Trust receives the related net profits income. | ||||||||||
Excess Costs
XTO Energy has advised the Trustee that excess costs increased by $89,000 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 $2,333,000, including accrued interest of $730,000.
XTO Energy has advised the Trustee that excess costs of $107,000, including accrued interest of $31,000, were fully recovered on properties underlying the Oklahoma Working Interest net profits interests.
For more information on the Trust, please visit our website at www.crt-crosstimbers.com.
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SOURCE Cross Timbers Royalty Trust
