Cross Timbers Royalty Trust Declares December Cash Distribution

DALLAS, Dec. 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 $0.083840 per unit, payable on January 15, 2020, to unitholders of record on December 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

                   
            (Bbls)     
          (Mcf)      
       (per Bbl)    
        Gas

                                                                            (per Mcf)





     Current
      Month
      Distribution              16,000           116,000           $53.89

                                                                                $3.43




     Prior
      Month
      Distribution              16,000            92,000           $53.35

                                                                                $3.16

                            (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 excess costs increased by $60,000 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 $2.3 million, including accrued interest of $342,000.

XTO Energy has advised the Trustee that excess costs of $22,000, including accrued interest of $2,000, were fully recovered on the 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.

View original content:http://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-december-cash-distribution-300978138.html

SOURCE Cross Timbers Royalty Trust