DALLAS, Sept. 18, 2018 /PRNewswire/ -- Simmons Bank, as Trustee of the Cross Timbers
Royalty Trust (NYSE:CRT), today declared a cash distribution to the
holders of its units of beneficial interest of $0.124704 per unit, payable on October 15, 2018, to unitholders of record on
September 28, 2018. The following
table shows underlying oil and gas sales and average prices
attributable to the current month and prior month
distributions.
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|
Underlying
Sales
|
|
|
|
|
|
|
Volumes
(a)
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|
Average
Price
|
|
|
|
Oil
(Bbls)
|
|
Gas
(Mcf)
|
|
Oil
(per Bbl)
|
|
Gas
(per Mcf)
|
|
|
|
|
|
|
|
|
|
|
Current Month
Distribution
|
|
17,000
|
|
131,000
|
|
$62.97
|
|
$4.20
|
|
|
|
|
|
|
|
|
|
|
Prior Month
Distribution
|
|
17,000
|
|
76,000
|
|
$61.56
|
|
$4.28
|
|
|
|
(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 improved oil prices led
to the partial recovery of excess costs of $53,000 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
after the current month's distribution total $1.8 million, including accrued interest of
$222,000.
For more information on the Trust, please visit our web site at
www.crt-crosstimbers.com.
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SOURCE Cross Timbers Royalty Trust