DALLAS, June 17,
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 $0.030174 per
unit, payable on July 15, 2024, to
unitholders of record on June 28,
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
|
|
12,000
|
|
10,000
|
|
$84.42
|
|
$8.14
|
|
|
Prior Month
Distribution
|
|
17,000
|
|
70,000
|
|
$76.32
|
|
$4.64
|
|
|
(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.
|
Current Month Distribution
XTO Energy has advised the Trustee of a volume only correction in
the current month for underlying sales volumes recorded in the
prior month for the Oklahoma Royalty Interest net profits
interests. Excluding this volume correction, underlying gas sales
volumes would have been 22,000 Mcf for the current month and 58,000
Mcf for the prior month and the average gas price would have been
$3.57 per Mcf for the current month
and $5.65 for the prior month. This
had no effect on the cash distribution in the current or prior
month.
Excess Costs
XTO Energy has advised the Trustee that excess costs increased by
$21,000 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 $3,530,000, including accrued interest of
$956,000.
XTO Energy has advised the Trustee that excess costs increased
by $48,000 on properties underlying
the Oklahoma 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
Oklahoma Working Interest net profits interests total $202,000, including accrued interest of
$10,000.
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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SOURCE Cross Timbers Royalty Trust