Cross Timbers Stock Price, News & Analysis

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.

Cross Timbers Royalty Trust (CRT) announced the adjournment of its Special Meeting originally scheduled for April 5, 2022, due to insufficient quorum. The meeting will now convene on May 4, 2022, at 12:00 p.m. CT, in Fort Worth, TX. Unitholders who voted previously do not need to act again, while those yet to cast their votes are urged to do so. The proxy materials remain unchanged, with a record date of February 4, 2022. Forward-looking statements caution that results may vary based on new approvals and conditions.

Cross Timbers Royalty Trust (CRT) announced a cash distribution of $0.054182 per unit, payable on April 14, 2022, to unitholders of record on March 31, 2022. The current month’s distribution results from oil sales of 16,000 Bbls and gas sales of 71,000 Mcf. Average prices were $81.97 per Bbl for oil and $5.21 per Mcf for gas. Notably, cumulative excess costs from Texas and Oklahoma Working Interests remain at $2.5 million and $0.1 million respectively, including accrued interest.

On February 17, 2022, Simmons Bank, as Trustee for the Cross Timbers Royalty Trust (CRT), announced a cash distribution of $0.100915 per unit to unitholders, payable on March 14, 2022. The distribution records show current month oil sales at 16,000 Bbls and gas sales at 83,000 Mcf, with average prices of $71.53 per Bbl and $7.78 per Mcf. XTO Energy reported timing adjustments affecting January oil sales volumes and average prices. Additionally, there are $2.4 million in cumulative excess costs related to Texas interests.