DALLAS, Feb. 15, 2019 /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 $0.045489 per
unit, payable on March 14, 2019, to
unitholders of record on February 28,
2019. 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
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Volumes
(a)
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Average
Price
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Oil
(Bbls)
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Gas
(Mcf)
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Oil
(per Bbl)
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Gas
(per Mcf)
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|
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Current Month
Distribution
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15,000
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74,000
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$46.00
|
|
$3.76
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|
|
|
|
|
|
|
|
|
Prior Month
Distribution
|
|
16,000
|
|
125,000
|
|
$55.41
|
|
$4.30
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|
|
|
|
|
|
|
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(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.
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Excess Costs
XTO Energy has advised the Trustee that $135,000 of excess costs was 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 after the current
month's distribution total $1.5
million, including accrued interest of $261,000.
XTO Energy has advised the Trustee that decreased operating
expenses in the current month distribution led to the full recovery
of excess costs of $0.1 million,
including accrued interest of $1,000,
on properties underlying the Oklahoma Working Interest net profits
interests.
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