Cross Timbers Royalty Trust Declares June Cash Distribution

DALLAS, June 18, 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 $0.090063 per unit, payable on July 15, 2019, to unitholders of record on June 28, 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           108,000           $57.97    $4.15




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

                            (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 increased operating expenses in the current month distribution caused costs to exceed revenues by $498,000 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 $2.0 million, including accrued interest of $289,000.

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