Mar 19, 2018   SOURCE: PR NewsWire

Cross Timbers Royalty Trust Declares March Cash Distribution

Cross Timbers Royalty Trust Declares March Cash Distribution

FORT WORTH, Texas, March 19, 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 $0.089664 per unit, payable on April 13, 2018, to unitholders of record on March 29, 2018. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions. 

                               Underlying Sales

                                    Volumes       Average Price
                                    -------       -------------

                                      Oil              Gas              Oil              Gas
                                    (Bbls)            (Mcf)          (per Bbl)        (per Mcf)
                                     -----            ----            --------        --------


    Current Month Distribution             18,000             89,000           $57.51           $4.19


    Prior Month Distribution               17,000            193,000           $54.03           $4.93

Excess Costs
XTO Energy has advised the Trustee that improved oil prices led to the partial recovery of excess costs of $80,000 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 totaled $2.0 million, including accrued interest of $174,000.

For more information on the Trust, please visit our web site at www.crt-crosstimbers.com.

CONTACT: Lee Ann Anderson, Senior Vice President, Simmons Bank, Trustee, Toll Free - 855-588-7839

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SOURCE Cross Timbers Royalty Trust