CROSS TIMBERS ROYALTY TRUST DECLARES JANUARY CASH DISTRIBUTION

Rhea-AI Summary

Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), declared a cash distribution of $0.095045 per unit. This payment will be made on February 14, 2025, to unitholders of record as of January 31, 2025.

The underlying oil and gas sales volumes and average prices for the current and prior month distributions are as follows:

• Current Month Distribution: Oil - 13,000 Bbls at $68.38 per Bbl; Gas - 114,000 Mcf at $3.78 per Mcf.
• Prior Month Distribution: Oil - 13,000 Bbls at $69.15 per Bbl; Gas - 68,000 Mcf at $3.26 per Mcf.

XTO Energy reported a recovery of $24,000 in excess costs from the Texas Working Interest properties, but no remaining proceeds were available for this month's distribution. The cumulative excess costs for these properties total $4,260,000, including $1,143,000 in accrued interest.

For more information, visit the Trust's website at www.crt-crosstimbers.com.

Positive

• Declared cash distribution of $0.095045 per unit.
• Recovery of $24,000 in excess costs from Texas Working Interest properties.

Negative

• No remaining proceeds from Texas Working Interest properties for this month's distribution.
• Cumulative excess costs for Texas Working Interest properties total $4,260,000.

News Market Reaction

+1.46%

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+1.46% News Effect

On the day this news was published, CRT gained 1.46%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DALLAS, Jan. 21, 2025 /PRNewswire/ -- Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the "Trust") (NYSE: CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.095045 per unit, payable on February 14, 2025, to unitholders of record on January 31, 2025. 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		13,000			114,000		$68.38		$3.78
Prior Month Distribution			13,000		68,000		$69.15			$3.26
(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 $24,000 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 total $4,260,000, including accrued interest of $1,143,000.

For more information on the Trust, including the annual tax information, distribution amounts, and historical press releases, please visit our website at www.crt-crosstimbers.com.

View original content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-january-cash-distribution-302354945.html

SOURCE Cross Timbers Royalty Trust

FAQ

What is the cash distribution amount declared by Cross Timbers Royalty Trust for January 2025?

The cash distribution amount declared by Cross Timbers Royalty Trust for January 2025 is $0.095045 per unit.

When will the January 2025 cash distribution be paid to CRT unitholders?

The January 2025 cash distribution will be paid on February 14, 2025.

What are the underlying oil and gas sales volumes for the current month's distribution?

The underlying oil sales volume is 13,000 Bbls at $68.38 per Bbl, and the gas sales volume is 114,000 Mcf at $3.78 per Mcf.

What are the cumulative excess costs for the Texas Working Interest properties?

The cumulative excess costs for the Texas Working Interest properties total $4,260,000, including $1,143,000 in accrued interest.

How much excess costs were recovered from the Texas Working Interest properties for the January 2025 distribution?

A total of $24,000 in excess costs were recovered from the Texas Working Interest properties for the January 2025 distribution.