DALLAS, May 20, 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 $0.058252 per unit,
payable on June 14, 2024, to
unitholders of record on May 31,
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
|
|
17,000
|
|
70,000
|
|
$76.32
|
|
$4.64
|
|
|
Prior Month
Distribution
|
|
14,000
|
|
255,000
|
|
$72.14
|
|
$3.71
|
|
|
(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.
|
Prior Month Distribution
XTO Energy has advised the Trustee that out of period gas
revenues attributable to non-operated properties in the Oklahoma
Royalty Interest net profits interests contributed to a higher cash
distribution in the prior month.
Excess Costs
XTO Energy has advised the Trustee that $46,000 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 total $3,484,000, including accrued interest of
$931,000.
XTO Energy has advised the Trustee that $366,000 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
$153,000, including accrued interest
of $9,000.
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-may-cash-distribution-302149385.html
SOURCE Cross Timbers Royalty Trust