DALLAS, Feb. 17,
2023 /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 $0.114609 per
unit, payable on March 14, 2023, to
unitholders of record on February 28,
2023. 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
|
|
11,000
|
|
100,000
|
|
$76.96
|
|
$7.80
|
|
|
Prior Month
Distribution
|
|
13,000
|
|
618,000
|
|
$82.06
|
|
$4.32
|
|
|
(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.
|
Prior Month Distribution
XTO Energy has advised the Trustee that out of period adjustments
made by a remitter in the New Mexico Royalty Interest net profits
interests had a significant impact on the gas sales volume and
average price reported in the January
2023 distribution.
Excess Costs
XTO Energy has advised the Trustee that excess costs increased by
$6,000 on properties underlying the
Texas Working Interest net profits interests, primarily due to
timing of receipts. 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 $1,802,000, including
accrued interest of $665,000.
XTO Energy has advised the Trustee that excess costs increased
by $121,000 on properties underlying
the Oklahoma Working Interest net profits interests, primarily due
to drilling costs from the Hewitt Unit and timing of receipts.
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
$997,000, including accrued interest
of $16,000.
For more information on the Trust, please visit our website at
www.crt-crosstimbers.com.
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content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-february-cash-distribution-301748911.html
SOURCE Cross Timbers Royalty Trust