Le Lézard
Classified in: Oil industry, Business
Subject: DIV

Cross Timbers Royalty Trust Declares April Cash Distribution


DALLAS, April 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 $0.114560 per unit, payable on May 14, 2019, to unitholders of record on April 30, 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

(Bbls)


Gas

(Mcf)


Oil

(per Bbl)


Gas

(per Mcf)


Current Month Distribution

14,000


227,000


$48.11


$4.23


Prior Month Distribution

16,000


84,000


$44.81


$4.45


(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 $49,003 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 $1.6 million, including accrued interest of $275,000.

XTO Energy has advised the Trustee that increased development costs, primarily due to the drilling of seven vertical wells in the Hewitt Unit, caused costs to exceed revenues by $11,000 on properties underlying the Oklahoma Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.

For more information on the Trust, please visit our web site at www.crt-crosstimbers.com.

SOURCE Cross Timbers Royalty Trust


These press releases may also interest you

at 14:30
Southwest Airlines Co.  announces the acquisition of SAFFiRE Renewables, LLC (SAFFiRE) as part of the investment portfolio of its wholly owned subsidiary Southwest Airlines Renewable Ventures, LLC (SARV). SARV is dedicated to creating more...

at 12:30
Aardex, a data-driven, community-minded real estate investment and development firm that has built out more than 1.5 million square feet of projects over the last 40 years, today announced the launch of a new company, Stellera, which will focus on...

at 12:30
The Municipality of Clarington, as a founding member of the Canadian Association of Nuclear Host Communities (CANHC), joined heads of state, representatives from the nuclear industry and non-governmental organizations at the first-ever Nuclear Energy...

at 12:00
TRC Companies, Inc. (TRC), a global professional services firm providing integrated strategy, consulting, engineering and applied technologies in support of the energy transition, received an award from Climate Change Business Journal ® (CCBJ) for...

at 11:45
The "Oil and Gas Pumps Market: A Global and Regional Analysis, 2023-2033" report has been added to  ResearchAndMarkets.com's offering. The global market for oil and gas pumps has witnessed substantial growth, propelled by various key factors and...

at 11:40
American Resources Corporation's ("American Resources" or the "Company")...



News published on and distributed by: