Cross Timbers Royalty Trust Declares April Cash Distribution

DALLAS, April 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 $0.085888 per unit, payable on May 14, 2020, to unitholders of record on April 30, 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

       (per Bbl)     (per Mcf)

     Distribution                15,000             154,000            $52.21        $2.40

     Distribution                17,000              91,000            $56.72        $3.49

                            (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 $117,000 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 $2.2 million, including accrued interest of $375,000.

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SOURCE Cross Timbers Royalty Trust