Cross Timbers Royalty Trust Declares September Cash Distribution

Dienstag, 20.09.2016 16:30 von

PR Newswire

DALLAS, Sept. 20, 2016 /PRNewswire/ -- Southwest Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE:CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.073563 per unit, payable on October 17, 2016, to unitholders of record on September 30, 2016. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.



Underlying Sales





Volumes


Average Price



Oil

(Bbls)


Gas

(Mcf)


Oil

(per Bbl)


Gas

(per Mcf)










Current Month Distribution


19,000


137,000


$42.36


 

$2.99










Prior Month Distribution


18,000


145,000


$43.08


 

$3.29










Excess Costs

XTO Energy has advised the trustee that improved oil prices led to the partial recovery of excess costs on properties underlying the Oklahoma Working Interest net profits interests. However after the partial recovery, there were no remaining proceeds from the properties underlying the Oklahoma Working Interest net profits interests to be included in this month's distribution.

XTO Energy has advised the trustee that continued lower oil prices caused costs to exceed revenues on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.

For more information on the Trust, please visit our web site at www.crt-crosstimbers.com.

 

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SOURCE Cross Timbers Royalty Trust