Cross Timbers Royalty Trust Declares May Cash Distribution

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May 18, 2020, 09:30 ET

DALLAS, May 18, 2020 /PRNewswire/ -- Simmons 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 $0.056277 per unit, payable on June 12, 2020, to unitholders of record on May 29, 2020. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.

	Underlying Sales
	Volumes ^(a)		Average Price
	Oil (Bbls)	Gas (Mcf)	Oil (per Bbl)		Gas (per Mcf)

Current Month Distribution	19,000	85,000	$38.31	$2.51

Prior Month Distribution	15,000	154,000	$52.21		$2.40

(a)

Sales volumes are recorded in the month the Trust receives the related net profits income. Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts.

Excess Costs
XTO Energy has advised the Trustee that excess costs increased by $151,000 on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances. Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests after the current month's distribution total $2.3 million, including accrued interest of $381,000.

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

SOURCE Cross Timbers Royalty Trust