Cross Timbers Royalty Trust Declares May Cash Distribution

DALLAS, May 20, 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 $0.082025 per unit, payable on June 14, 2019, to unitholders of record on May 31, 2019. 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        
          Gas         
        Oil          
        Gas

                                 
            (Bbls)     
          (Mcf)      
       (per Bbl)     
       (per Mcf)






     Current Month Distribution              16,000            96,000            $55.68               $4.30





     Prior Month Distribution                14,000           227,000            $48.11               $4.23

                            (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 $62,110 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 $282,000.

XTO Energy has advised the Trustee that decreased development costs in the current month distribution led to the full recovery of excess costs of $11,000 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