CROSS TIMBERS ROYALTY TRUST DECLARES JULY CASH DISTRIBUTION

Rhea-AI Summary

Cross Timbers Royalty Trust (NYSE:CRT) has declared a cash distribution of $0.030376 per unit for July 2025, payable on August 14, 2025, to unitholders of record on July 31, 2025.

The Trust reported underlying sales volumes of 9,000 barrels of oil at an average price of $60.88 per barrel and 47,000 Mcf of gas at $4.84 per Mcf for the current distribution. Both volumes and prices showed a decline compared to the prior month.

XTO Energy reported an increase of $9,000 in excess costs for Texas Working Interest properties, with cumulative excess costs of $4.82 million. In Oklahoma, $39,000 of excess costs were recovered, leaving remaining excess costs of $33,000.

Positive

• Recovery of $39,000 in excess costs from Oklahoma Working Interest properties

Negative

• Monthly distribution decreased with lower oil and gas sales volumes
• Oil price declined to $60.88/Bbl from $62.83/Bbl month-over-month
• Gas price decreased to $4.84/Mcf from $4.89/Mcf month-over-month
• Texas Working Interest excess costs increased by $9,000
• Significant cumulative excess costs of $4.82M remain for Texas properties

Insights

Energy Royalty Trust Analyst

CRT announced a $0.030376 per unit distribution amid declining production volumes and ongoing excess costs challenges in Texas properties.

Cross Timbers Royalty Trust has declared a July cash distribution of $0.030376 per unit, payable on August 14, 2025. This distribution comes amid noticeable production declines compared to the prior month, with oil volumes dropping from 11,000 to 9,000 barrels (18% decrease) and gas volumes falling from 66,000 to 47,000 Mcf (29% decrease). Commodity prices also slightly decreased with oil at $60.88 per barrel (down from $62.83) and gas at $4.84 per Mcf (down from $4.89).

The trust continues facing significant challenges with excess costs on its Texas Working Interest properties, which increased by $9,000 during the period. Cumulative excess costs for these properties now total $4.824 million, including $1.311 million in accrued interest. This represents a substantial burden that must be recovered before unitholders can receive distributions from these specific assets.

On a more positive note, $39,000 of excess costs were recovered from Oklahoma Working Interest properties, reducing the outstanding balance there to just $33,000 (including $443 in accrued interest). However, despite this recovery, there were insufficient proceeds from these Oklahoma properties to contribute to the current distribution.

These operational issues highlight the ongoing challenges facing this royalty trust, with production declines and excess costs continuing to impact distribution levels for unitholders. The substantial excess costs in Texas properties particularly remain a long-term concern given their magnitude relative to monthly production values.

DALLAS, July 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 $0.030376 per unit, payable on August 14, 2025, to unitholders of record on July 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		9,000			47,000		$60.88		$4.84
Prior Month Distribution			11,000		66,000		$62.83			$4.89

(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 $9,000 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 total $4,824,000, including accrued interest of $1,311,000.

XTO Energy has advised the Trustee that $39,000 of excess costs were recovered on properties underlying the Oklahoma Working Interest net profits interests. However, after the partial recovery, there were no remaining proceeds from the properties underlying the Oklahoma Working Interest net profits interests to be included in this month's distribution. Underlying cumulative excess costs remaining on the Oklahoma Working Interest net profits interests total $33,000, including accrued interest of $443.

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-july-cash-distribution-302508963.html

SOURCE Cross Timbers Royalty Trust

FAQ

What is the CRT dividend distribution amount for July 2025?

Cross Timbers Royalty Trust declared a distribution of $0.030376 per unit, payable on August 14, 2025, to unitholders of record on July 31, 2025.

How did CRT's oil and gas sales volumes change in the current month?

Oil sales decreased to 9,000 barrels from 11,000 barrels, and gas sales declined to 47,000 Mcf from 66,000 Mcf compared to the prior month.

What are the current excess costs for CRT's Texas Working Interest properties?

The cumulative excess costs for Texas Working Interest properties total $4,824,000, including accrued interest of $1,311,000.

How much excess cost recovery did CRT achieve in Oklahoma properties?

XTO Energy recovered $39,000 of excess costs on Oklahoma Working Interest properties, with $33,000 in remaining cumulative excess costs.

What were CRT's average oil and gas prices for the current distribution?

The average price was $60.88 per barrel for oil and $4.84 per Mcf for gas, both showing decreases from the prior month.