Cross Timbers Royalty Trust Declares April Cash Distribution
DALLAS, April 19, 2022 /PRNewswire/ -- 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 $0.156943 per unit, payable on May 13, 2022, to unitholders of record on April 29, 2022. 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 | 15,000 | 126,000 | $83.31 | $6.80 | ||||||
Prior Month Distribution (b) | 16,000 | 71,000 | $72.74 | $5.21 | ||||||
(a) Sales volumes are recorded in the month the Trust receives the related net profits income. (b) Average oil price per Bbl has been revised to $72.74, which had no impact on the unitholder distribution. | ||||||||||
Excess Costs
XTO Energy has advised the Trustee that $63,000 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 after the current month's distribution total $2.4 million, including accrued interest of $575,000.
XTO Energy has advised the Trustee that excess costs of $72,000, including accrued interest of $1,000, 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
