Cross Timbers Royalty Trust Declares May Cash Distribution

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May 18, 2015, 08:50 ET

DALLAS, May 18, 2015 /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 $0.052370 per unit, payable on June 12, 2015, to unitholders of record on May 29, 2015. 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 (Bbls)	Gas (Mcf)

Current Month Distribution	17,000	90,000	$45.22	$3.40

Prior Month Distribution	23,000	140,000	$54.48	$4.48

Excess Costs

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

XTO Energy has advised the trustee that 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.

Reserves

Due to the volatility of the net profits income relating to low volumes and low commodity prices, the trustee will increase its reserve for administrative expenses by $25,000 with the current month distribution. This allows the trustee to maintain an estimated three months of administrative expenses on hand should it be unable to pay them out of the net profits income.

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

SOURCE Cross Timbers Royalty Trust