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 (CRT), announced a cash distribution of $0.037954 per unit, payable on September 15, 2020, to unitholders of record by August 31, 2020. Current month sales included 16,000 Bbls of oil at an average price of $31.34 and 99,000 Mcf of gas at $2.83. Prior month sales were 11,000 Bbls of oil at $16.29 and 113,000 Mcf of gas at $2.67. Excess costs increased by $78,000 for Texas and $9,000 for Oklahoma, totaling $2.6 million and $0.3 million respectively.
Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (CRT), announced a cash distribution of $0.042667 per unit for June, payable on July 14, 2020. Unitholders of record by June 30, 2020 will receive this distribution. The press release detailed underlying sales volumes, with current month oil sales at 18,000 Bbls and gas at 86,000 Mcf, translating to average prices of $23.63 per Bbl for oil and $2.38 per Mcf for gas. It was noted that excess costs increased but did not affect net proceeds from conveyances.