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.
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.
Cross Timbers Royalty Trust (CRT) announced a cash distribution of $0.125725 per unit for January 2022, payable on February 14, 2022, to unitholders of record on January 31, 2022. Current oil sales volumes reached 85,000 Bbls at an average price of $55.83 per barrel, while gas sales were 94,000 Mcf at $7.35 per Mcf. In contrast, the prior month saw oil sales of 12,000 Bbls at $73.31 per barrel and gas at 109,000 Mcf at $6.50 per Mcf. Notably, there are $2.6 million in cumulative excess costs remaining from the Texas Working Interest net profits interests.
Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE:CRT), announced a cash distribution of $0.137129 per unit, payable on January 14, 2022, to unitholders recorded by December 31, 2021. The December distribution reflects oil sales of 12,000 Bbls and gas sales of 109,000 Mcf, with average prices of $73.31 per Bbl for oil and $6.50 per Mcf for gas. Prior adjustments by XTO Energy impacted gas volumes significantly. Additionally, $6.3 million in cumulative excess costs remain unrecovered from Texas Working Interest properties.
On November 19, 2021, Simmons Bank, Trustee of the Cross Timbers Royalty Trust (CRT), declared a cash distribution of $0.073000 per unit, scheduled for December 14, 2021, to unitholders of record by November 30, 2021. The current month's distribution reflects a notable fluctuation in oil and gas sales volumes, with adjustments affecting reported figures due to timing issues from XTO Energy. Excess costs tied to properties under the Texas Working Interest have increased, totaling approximately $6.3 million cumulatively after the latest distribution.
Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (CRT), announced a cash distribution of $0.067003 per unit, payable on November 15, 2021, to unitholders of record as of October 29, 2021. The current month distribution reflects 62,000 Bbls of oil and 8,000 Mcf of gas, with average prices at $47.84 per Bbl for oil and $26.98 per Mcf for gas. Noteworthy is the increase in excess costs by $3,599,000 due to adjustments affecting the Texas Working Interest. The cumulative excess costs now total $6.3 million.
Cross Timbers Royalty Trust (NYSE: CRT) has declared a cash distribution of $0.162571 per unit for September 2021, with an ex-dividend date of September 30, 2021 and payment set for October 15, 2021. Current month distributions showed underlying sales of 14,000 Bbls of oil and 134,000 Mcf of gas. Average prices increased to $68.14 per Bbl for oil and $6.53 per Mcf for gas. However, $56,000 in excess costs were recovered, leaving cumulative excess costs of $2.7 million after the latest distribution.
Cross Timbers Royalty Trust (CRT) announced a cash distribution of $0.097254 per unit, payable on September 15, 2021, to unitholders of record as of August 31, 2021. The current month distribution is based on underlying sales of 15,000 barrels of oil and 77,000 Mcf of gas, with average prices of $62.74 per barrel and $5.00 per Mcf. Comparatively, the prior month distribution included 18,000 barrels of oil and 108,000 Mcf of gas at $57.35 and $4.55 respectively. Notably, $30,000 in excess costs were recovered, but cumulative excess costs remain at $2.7 million.
Simmons Bank, as Trustee of Cross Timbers Royalty Trust (CRT), announced a cash distribution of $0.123792 per unit, payable on August 13, 2021, to unitholders of record on July 30, 2021. The current month distribution includes sales of 18,000 Bbls of oil and 108,000 Mcf of gas, with average prices of $57.35 per Bbl and $4.55 per Mcf. Notably, $53,000 in excess costs were recovered, although there remains a cumulative excess of $2.8 million on Texas Working Interest. More information can be found at www.crt-crosstimbers.com.