DALLAS, March 19, 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 $0.072823 per
unit, payable on April 12, 2019, to
unitholders of record on March 29,
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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Current Month
Distribution
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16,000
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84,000
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$44.81
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$4.45
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Prior Month
Distribution
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15,000
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74,000
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$46.00
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$3.76
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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 increased operating
expenses in the current month distribution caused costs to exceed
revenues by $126,000 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 after
the current month's distribution total $1.6
million, including accrued interest of $267,000.
For more information on the Trust, please visit
our web site at www.crt-crosstimbers.com.
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content:http://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-march-cash-distribution-300814863.html
SOURCE Cross Timbers Royalty Trust