Welcome to our dedicated page for Cross Timbers news (Ticker: CRT), a resource for investors and traders seeking the latest updates and insights on Cross Timbers stock.
Cross Timbers Royalty Trust (CRT) is a United States-based royalty trust whose net profits interests are derived from producing royalty, overriding royalty interests, and working interest properties. The underlying properties include producing oil and gas properties in Texas, Oklahoma, and New Mexico. This news page focuses on the trust’s recurring public updates about monthly cash distributions and related operating details.
Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust, issues regular news releases announcing monthly cash distributions to holders of units of beneficial interest. Each release specifies the cash distribution per unit, the payment date, and the record date for unitholders. The announcements also provide tables of underlying oil and gas sales volumes and average realized prices for oil (per barrel) and gas (per thousand cubic feet) that are attributable to the current and prior month distributions.
In addition to distribution amounts and sales data, the trust’s news releases describe how sales volumes are recorded in the month the trust receives the related net profits income. This timing can cause month-to-month fluctuations in reported volumes. The releases also include commentary from XTO Energy to the Trustee about excess costs on properties underlying the Texas Working Interest net profits interests and the Oklahoma Working Interest net profits interests, and whether those excess costs affect net proceeds from the remaining conveyances.
Readers following CRT news can use this page to review a sequence of monthly distribution announcements, observe changes in underlying oil and gas sales volumes and prices, and monitor developments in excess costs and cash reserve practices disclosed by the Trustee. For ongoing research on Cross Timbers Royalty Trust, this news feed provides a consolidated view of the trust’s regular public communications about distributions and underlying property performance.
Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), announced a cash distribution of $0.150335 per unit, payable on January 17, 2023, to unitholders as of December 30, 2022. The current month distribution reflects sales of 14,000 barrels of oil and 101,000 Mcf of gas, with average prices of $84.61 per barrel and $10.44 per Mcf. Additionally, the Trust reported $214,000 of excess cost recoveries, but cumulative excess costs remain at $1.8 million. A new trustee, Argent Trust Company, will replace the current trustee on December 30, 2022.
Cross Timbers Royalty Trust announced a cash distribution of $0.161024 per unit, to be paid on December 14, 2022, for unitholders of record by November 30, 2022. The current month saw sales of 12,000 barrels of oil and 93,000 Mcf of gas, with average prices of $85.47 for oil and $10.74 for gas. Compared to the prior month, oil sales remained the same, while gas sales increased slightly from 92,000 Mcf. However, excess costs rose by $67,000 in Texas and $377,000 in Oklahoma, totaling $2.0 million and $0.7 million respectively in cumulative excess costs after the distribution.
Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (CRT), has declared a cash distribution of $0.149149 per unit, payable on November 15, 2022. Unitholders of record on October 31, 2022 will receive this distribution. Current oil sales totaled 12,000 Bbls while gas sales were 92,000 Mcf, with average prices of $95.77 per barrel and $10.40 per Mcf, respectively. Notably, cumulative excess costs of $1.9 million for Texas and $0.4 million for Oklahoma were reported, affecting distributions.
Cross Timbers Royalty Trust (NYSE:CRT) has announced a cash distribution of $0.200401 per unit, scheduled for October 17, 2022, to unitholders of record as of September 30, 2022. The Trust reported 13,000 Bbls of oil and 107,000 Mcf of gas for this distribution, with average prices of $104.88 per Bbl and $9.55 per Mcf. Although $45,000 has been recovered in excess costs related to Texas properties, there are still $2.0 million in cumulative excess costs remaining.
Cross Timbers Royalty Trust (CRT) announced a cash distribution of $0.230619 per unit, set for September 15, 2022, with a record date of August 31, 2022. The statement detailed the underlying oil and gas sales for the current and prior months. Current month figures include 13,000 barrels of oil and 107,000 Mcf of gas sold, with average prices of $108.03 per barrel and $9.42 per Mcf. Notably, the trustee reported a recovery of $95,000 in excess costs, but $2.0 million in cumulative excess costs remains.
Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), declared a cash distribution of $0.191690 per unit, payable on August 12, 2022, to unitholders of record on July 29, 2022. Current month oil sales reached 15,000 Bbls with an average price of $93.55 per Bbl, while gas sales totaled 108,000 Mcf at $7.84 per Mcf. In contrast, the prior month saw oil sales of 14,000 Bbls priced at $87.02 and gas sales of 284,000 Mcf at $6.59. Cumulative excess costs of $2.1 million remain on Texas Working Interest net profits interests.
Cross Timbers Royalty Trust (NYSE:CRT) announced a cash distribution of $0.272187 per unit for June 2022, payable on July 15, 2022, to unitholders of record by June 30, 2022. This represents an increase from the prior month's distribution of $0.253846. The increase in gas sales volumes is attributed to non-operated properties in New Mexico, while excess costs rose by $29,000 primarily due to invoice timing, amounting to cumulative costs of $2.2 million post-distribution. For further information, visit www.crt-crosstimbers.com.
Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), announced a cash distribution of $0.164036 per unit, payable on June 14, 2022. The distribution is for unitholders recorded by May 31, 2022. Current month distributions include 13,000 Bbls of oil and 115,000 Mcf of gas sold at average prices of $101.14 per Bbl and $7.36 per Mcf, respectively. Additionally, XTO Energy reported $260,000 in recovered excess costs, but no proceeds from Texas Working Interest net profits were included in this distribution, with outstanding excess costs of $2.1 million.
On May 5, 2022, Cross Timbers Royalty Trust (NYSE: CRT) announced the results from a special unitholder meeting held on May 4, 2022. Unitholders approved Argent Trust Company as the new trustee to replace Simmons Bank. However, proposed amendments to the Trust Agreement were not approved. The resignation of Simmons Bank will take effect once specific conditions outlined in the Trustee's notice are met, including necessary approvals from the Trust and related entities. Forward-looking statements indicate potential risks related to the trustee transition.
Cross Timbers Royalty Trust (CRT) announced a cash distribution of $0.156943 per unit, payable on May 13, 2022, to unitholders on record as of April 29, 2022. The current month distribution reflects 15,000 barrels of oil and 126,000 Mcf of gas sold. Average oil prices were $83.31 per barrel and $6.80 per Mcf for the current distribution period. Excess costs totaling $63,000 were recovered on Texas properties, with remaining cumulative excess costs at $2.4 million. Oklahoma properties recovered $72,000 in excess costs.