DALLAS, March 18,
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 $0.019390 per
unit, payable on April 12, 2024, to
unitholders of record on March 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
|
|
15,000
|
|
50,000
|
|
$73.26
|
|
$5.94
|
|
|
Prior Month
Distribution
|
|
14,000
|
|
123,000
|
|
$73.21
|
|
$4.26
|
|
|
(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 $8,000 of excess costs were recovered on
properties underlying the Texas Working Interest net profits
interests. However, after the partial recovery, there were no
remaining proceeds from the properties underlying the Texas Working
Interest net profits interests to be included in this month's
distribution. Underlying cumulative excess costs remaining on the
Texas Working Interest net profits interests total $3,375,000, including accrued interest of
$883,000.
XTO Energy has advised the Trustee excess costs increased by
$707,000 on properties underlying the
Oklahoma Working Interest net profits interests, primarily due to
drilling costs from the Hewitt Unit for six new drill wells
completed in fourth quarter 2023 that are currently producing.
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
$724,000, including accrued interest
of $113.
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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content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-march-cash-distribution-302091008.html
SOURCE Cross Timbers Royalty Trust
