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Cross Timbers Royalty Trust reports recurring cash distributions to holders of its units of beneficial interest. The trust's news centers on monthly distribution declarations, underlying oil and gas sales volumes, average realized prices, and timing effects from cash receipts tied to its net profits interests.
The trust's underlying interests are derived from producing royalty, overriding royalty, and working interest properties in Texas, Oklahoma, and New Mexico. Updates also describe excess costs on Texas and Oklahoma working interest net profits interests, notices from XTO Energy, and trustee actions by Argent Trust Company.
Cross Timbers Royalty Trust (NYSE: CRT) has declared a cash distribution of $0.092742 per unit for November, payable on December 13, 2024, to unitholders of record on November 29, 2024. The underlying sales show oil volumes of 13,000 Bbls at $71.39 per Bbl and gas volumes of 86,000 Mcf at $3.54 per Mcf. XTO Energy reported an increase in excess costs of $133,000 on Texas Working Interest properties, with cumulative excess costs totaling $4,160,000, including $1,088,000 in accrued interest.
Cross Timbers Royalty Trust (NYSE: CRT) has declared a cash distribution of $0.064592 per unit for October, payable on November 15, 2024, to unitholders of record on October 31, 2024. The Trust's underlying oil and gas sales volumes for the current month distribution were 12,000 Bbls of oil and 82,000 Mcf of gas, with average prices of $76.77 per Bbl for oil and $4.46 per Mcf for gas.
The September 2024 distribution included a $24,128 deduction related to the settlement of a royalty class action lawsuit. XTO Energy reported an increase of $125,000 in excess costs on properties underlying the Texas Working Interest net profits interests, with cumulative excess costs totaling $4,000,000, including accrued interest of $1,061,000.
Argent Trust Company, Trustee of Cross Timbers Royalty Trust (NYSE: CRT), declared a cash distribution of $0.102230 per unit, payable on October 15, 2024, to unitholders of record on September 30, 2024. The distribution reflects underlying oil and gas sales volumes and prices. The September distribution includes a $24,128 deduction related to the Chieftain settlement with XTO Energy Inc.
XTO Energy reported an increase of $124,000 in excess costs on properties underlying the Texas Working Interest net profits interests. Cumulative excess costs on these interests total $3,847,000, including accrued interest of $1,034,000. However, these excess costs did not reduce net proceeds from other conveyances.
Cross Timbers Royalty Trust (NYSE: CRT) has declared a cash distribution of $0.055175 per unit for August, payable on September 16, 2024, to unitholders of record on August 30, 2024. The Trust reported underlying oil sales of 13,000 barrels at an average price of $76.84 per barrel, and gas sales of 67,000 Mcf at an average price of $3.33 per Mcf for the current month distribution. XTO Energy recovered $26,000 of excess costs on properties underlying the Texas Working Interest net profits interests. However, cumulative excess costs on these interests still total $3,697,000, including $1,008,000 in accrued interest.
Cross Timbers Royalty Trust (NYSE:CRT) has declared a cash distribution of $0.096137 per unit for July, payable on August 14, 2024, to unitholders of record on July 31, 2024. The Trust reported underlying oil sales of 12,000 Bbls at an average price of $78.39 per Bbl, and gas sales of 186,000 Mcf at $4.03 per Mcf for the current month distribution.
XTO Energy advised of a volume correction for the prior month's Oklahoma Royalty Interest net profits interests, which did not affect cash distributions. Additionally, excess costs increased by $142,000 on Texas Working Interest properties, with cumulative excess costs totaling $3,696,000. On Oklahoma Working Interest properties, excess costs of $204,000 were fully recovered.
Argent Trust Company, as Trustee of Cross Timbers Royalty Trust (NYSE:CRT), declared a cash distribution of $0.030174 per unit, payable on July 15, 2024, to unitholders of record on June 28, 2024.
For June, oil sales volumes were 12,000 Bbls at $84.42 per Bbl, and gas sales volumes were 10,000 Mcf at $8.14 per Mcf. In contrast, May saw 17,000 Bbls of oil at $76.32 per Bbl and 70,000 Mcf of gas at $4.64 per Mcf.
XTO Energy reported a volume correction for Oklahoma Royalty Interest net profits interests, adjusting gas sales to 22,000 Mcf for June and 58,000 Mcf for May, with average prices of $3.57 and $5.65 per Mcf, respectively. Excess costs increased by $21,000 for Texas Working Interests and $48,000 for Oklahoma Working Interests, without impacting net proceeds.
Cross Timbers Royalty Trust (NYSE: CRT) declared a cash distribution of $0.058252 per unit, payable on June 14, 2024, to unitholders recorded on May 31, 2024. Underlying oil and gas sales for the current month include 17,000 Bbls of oil at $76.32 per Bbl and 70,000 Mcf of gas at $4.64 per Mcf. Prior month sales were 14,000 Bbls of oil at $72.14 per Bbl and 255,000 Mcf of gas at $3.71 per Mcf. XTO Energy reported $46,000 and $366,000 of excess costs recovered from Texas and Oklahoma Working Interests, respectively, but no proceeds included in this month's distribution due to cumulative excess costs of $3,484,000 and $153,000 remaining.
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