Cross Timbers Royalty Trust declares June cash distribution

Finance

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 $0.104054 per unit, payable on July 15, 2021, to unitholders of record on June 30, 2021.

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

13,000

47,000

$78.77

$7.15

Prior Month Distribution

13,000

67,000

$57.03

$5.46

(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 excess costs increased by $77,000 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 after the current month’s distribution total $2.8 million, including accrued interest of $473,000. Cross Timbers Royalty Trust (NYSE: CRT)

SOURCE: PRNewswire