DALLAS, April 18,
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 $0.244670 per
unit, payable on May 12, 2023, to
unitholders of record on April 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
|
|
14,000
|
|
98,000
|
|
$75.27
|
|
$16.37
|
|
|
Prior Month
Distribution
|
|
19,000
|
|
93,000
|
|
$81.55
|
|
$10.25
|
|
|
(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.
|
|
|
|
|
|
|
|
|
|
|
|
Excess Costs
XTO Energy has advised the Trustee that excess costs increased
by $139,000 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 $1,998,000, including
accrued interest of $688,000.
XTO Energy has advised the Trustee that $108,000 of excess costs were recovered on
properties underlying the Oklahoma Working Interest net profits
interests. However, after the partial recovery, there were no
remaining proceeds from the properties underlying the Oklahoma
Working Interest net profits interests to be included in this
month's distribution. Underlying cumulative excess costs remaining
on the Oklahoma Working Interest net profits interests total
$508,000, including accrued interest
of $26,000.
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-april-cash-distribution-301800015.html
SOURCE Cross Timbers Royalty Trust
