Cross Timbers Royalty Trust Declares June Cash Distribution
DALLAS, June 17, 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 $0.272187 per unit, payable on July 15, 2022, to unitholders of record on June 30, 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 | 14,000 | 284,000 | $87.02 | $6.59 | ||||||
Prior Month Distribution | 13,000 | 115,000 | $101.14 | $7.36 | ||||||
(a) Sales volumes are recorded in the month the Trust receives the related net profits income. | ||||||||||
Current Month Distribution
XTO Energy has advised the Trustee that gas volumes increased from prior month primarily due to out of period revenues attributable to non-operated properties in the New Mexico Royalty Interest net profits interests. This contributed to a higher cash distribution in the current month.
Excess Costs
XTO Energy has advised the Trustee that excess costs increased by $29,000 on properties underlying the Texas Working Interest net profits interests primarily due to the timing of invoices. 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 $2.2 million, including accrued interest of $589,000.
For more information on the Trust, please visit our website at www.crt-crosstimbers.com.
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SOURCE Cross Timbers Royalty Trust
