Cross Timbers Royalty Trust Declares April Cash Distribution
DALLAS, April 17, 2025 /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 $0.032110 per unit, payable on May 14, 2025, to unitholders of record on April 30, 2025. 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 | 12,000 | 78,000 | $69.99 | $5.86 | ||||||||||||||||||||||||||||||||||
Prior Month Distribution | 19,000 | 97,000 | $73.40 | $5.05 | ||||||||||||||||||||||||||||||||||
(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 $136,000 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 $4,567,000, including accrued interest of $1,223,000.
Cash Reserves
In accordance with Section 3.08 of the Cross Timbers Royalty Trust Indenture, the Trustee has withheld $50,000 from this month's distribution to increase the amount of cash in the reserve account. The Trustee intends to continue to withhold $50,000 from distributable funds per month until the cash reserve has reached $1,500,000.
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.
View original content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-april-cash-distribution-302431018.html
SOURCE Cross Timbers Royalty Trust
