DALLAS, July 19, 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 $0.096137 per unit, payable on August 14, 2024, to unitholders of record on
July 31, 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
|
|
186,000
|
|
$78.39
|
|
$4.03
|
|
|
Prior Month
Distribution
|
|
12,000
|
|
10,000
|
|
$84.42
|
|
$8.14
|
|
|
(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 of a volume only correction in
the prior month for underlying sales volumes recorded in the
previous 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 prior month and the
average gas price would have been $3.57 per Mcf 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
$142,000 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 $3,696,000, including accrued interest of
$981,000.
XTO Energy has advised the Trustee that excess costs of
$204,000, including accrued
interest of $11,000, were fully
recovered on properties underlying the Oklahoma Working Interest
net profits interests.
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-july-cash-distribution-302201467.html
SOURCE Cross Timbers Royalty Trust
