Cross Timbers Royalty Trust Declares March Cash Distribution

DALLAS, March 20, 2020 /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 $0.091319 per unit, payable on April 14, 2020, to unitholders of record on March 31, 2020. 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                17,000              91,000             $56.72               $3.49





     Prior Month Distribution                  16,000             105,000             $55.69               $2.88

                            (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 $109,000 of excess costs were 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 $2.3 million, including accrued interest of $369,000.

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