Cross Timbers Royalty Trust (CRT) declares June payout and reports excess costs
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Cross Timbers Royalty Trust declared a June cash distribution of $0.044186 per unit, payable on July 15, 2026 to unitholders of record on June 30, 2026.
Underlying sales for the current month distribution were 9,000 Bbls of oil and 27,000 Mcf of gas at average prices of $88.05 per Bbl and $4.30 per Mcf, compared with the prior month’s 10,000 Bbls and 47,000 Mcf at $77.14 per Bbl and $4.98 per Mcf.
XTO Energy reported a $25,000 increase in excess costs on Texas Working Interest net profits interests, bringing underlying cumulative excess costs there to $5,951,000, including $1,660,000 of accrued interest. In Oklahoma Working Interest net profits interests, $136,000 of excess costs were recovered, yet no proceeds from those properties were included in this month’s distribution, with underlying cumulative excess costs of $842,000, including $25,000 of accrued interest.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
June distribution per unit: $0.044186 per unit
Current month oil volume: 9,000 Bbls
Current month gas volume: 27,000 Mcf
+5 more
8 metrics
June distribution per unit
$0.044186 per unit
Payable July 15, 2026 to holders of record June 30, 2026
Current month oil volume
9,000 Bbls
Underlying sales for current month distribution
Current month gas volume
27,000 Mcf
Underlying sales for current month distribution
Current month oil price
$88.05 per Bbl
Average price for current month distribution
Current month gas price
$4.30 per Mcf
Average price for current month distribution
Texas cumulative excess costs
$5,951,000
Texas Working Interest net profits interests, includes $1,660,000 interest
Oklahoma cumulative excess costs
$842,000
Oklahoma Working Interest net profits interests, includes $25,000 interest
Oklahoma excess cost recovery
$136,000
Excess costs recovered on Oklahoma Working Interest properties this month
Key Terms
units of beneficial interest, net profits interests, excess costs, underlying sales, +1 more
5 terms
units of beneficial interest financial
"declared a cash distribution to the holders of its units of beneficial interest of $0.044186 per unit"
Units of beneficial interest are pieces of ownership in a trust, fund, or pooled investment that give the holder a right to a share of the assets and income without holding the underlying property directly. Think of them as slices of a pie that entitle you to future slices of profit or distributions; investors care because these units determine how returns, risks, voting rights, and tax treatment are allocated and how easily you can buy or sell your stake.
net profits interests financial
"properties underlying the Texas Working Interest net profits interests"
A net profits interest is a non‑operating claim on the earnings from a specific asset (commonly oil, gas, or mineral production) that pays its holder a percentage of the money left over after production revenues and agreed costs are deducted. Think of it like owning a share of the profits from a single project without running it; payouts can be attractive but fluctuate with output and expenses, so investors use NPIs to gain income exposure while avoiding operating responsibilities.
excess costs financial
"XTO Energy has advised the Trustee that excess costs increased by $25,000"
Excess costs are expenses a company incurs that are above its normal or expected operating costs—unexpected charges, one-time losses, or spending beyond budget, like a household suddenly paying for major repairs. They matter to investors because they can temporarily or permanently reduce profits and cash flow, and frequent or large excess costs may signal operational problems or higher risk, helping investors decide whether a profit hit is a short-term anomaly or a lasting issue.
underlying sales financial
"The following table shows underlying oil and gas sales and average prices"
Underlying sales are the company’s revenue figures adjusted to remove one-time or external effects—for example recent acquisitions or disposals, large timing differences, and currency swings—so that sales reflect the ongoing performance of the core business. Investors care because this “clean” view makes it easier to judge whether demand is truly growing or shrinking, and to compare performance across periods or between companies without noise from temporary events.
cumulative excess costs financial
"Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests total $5,951,000"
FAQ
What cash distribution did Cross Timbers Royalty Trust (CRT) declare for June 2026?
Cross Timbers Royalty Trust declared a June 2026 cash distribution of $0.044186 per unit. It will be paid on July 15, 2026 to unitholders of record as of June 30, 2026, reflecting recent underlying oil and gas sales.
When is the record date and payment date for CRT’s June 2026 distribution?
The record date is June 30, 2026 and the payment date is July 15, 2026. Unitholders recorded on June 30, 2026 will receive the June cash distribution of $0.044186 per unit on the July payment date.
What underlying oil and gas volumes support CRT’s current month distribution?
The current month distribution is based on underlying sales of 9,000 barrels of oil and 27,000 Mcf of gas. These volumes are recorded when related net profits income is received, so monthly volumes can fluctuate with cash receipt timing.
How did average oil and gas prices change versus CRT’s prior month distribution?
For the current month, average prices were $88.05 per barrel of oil and $4.30 per Mcf of gas. The prior month averaged $77.14 per barrel and $4.98 per Mcf, showing higher oil prices but lower gas prices for the latest distribution period.
What are the current excess costs on CRT’s Texas Working Interest net profits interests?
Excess costs on the Texas Working Interest net profits interests increased by $25,000, bringing underlying cumulative excess costs to $5,951,000. This total includes $1,660,000 of accrued interest, which must be recovered before related net profits contribute fully to distributions.
What excess cost recovery occurred on CRT’s Oklahoma Working Interest net profits interests?
XTO Energy reported recovery of $136,000 of excess costs on the Oklahoma Working Interest net profits interests. Despite this partial recovery, there were no remaining proceeds from these properties for this month’s distribution, and cumulative excess costs remain at $842,000, including $25,000 of interest.