Cross Timbers Royalty Trust Announces Cash Distribution
Argent Trust Company, the trustee for Cross Timbers Royalty Trust (NYSE: CRT), has announced a cash distribution to its beneficial interest holders. The declared distribution amounts to $0.030376 per unit. This distribution showcases the trust's commitment to ensuring its unitholders benefit from their investments.
Understanding Cash Distribution Details
Unitholders may collect their distributions on a specified date, aligning with the trust's distribution policy. Details regarding the distribution are made available in advance, providing transparency to all stakeholders involved. In addition to the distribution amount, the trust also provides key information on the volumes of oil and gas sold during the corresponding period.
Current and Previous Month Highlights
The current month's distribution reflects underlying sales dynamics. For July, the trust reported an oil volume of 9,000 barrels and a gas volume of 47,000 Mcf. Notable averages include $60.88 per barrel for oil and $4.84 per Mcf for gas, reflecting market trends and operational performance.
Prior Month's Distribution Review
Comparatively, the prior month featured an oil volume of 11,000 barrels alongside gas sales of 66,000 Mcf. The average prices noted were $62.83 per barrel for oil and $4.89 per Mcf for gas. Observing these fluctuations helps investors understand market behavior and the underlying economic factors affecting the trust's performance.
Excess Cost Considerations
Excess costs incurred by XTO Energy have been reported to the trustee, impacting financial assessments but not directly diminishing the net proceeds from the trust. A recent increase of $9,000 in excess costs was observed for properties tied to the Texas Working Interest. It’s essential to note that cumulative excess costs are currently situated at $4,824,000, with accrued interest comprising $1,311,000.
Recoveries from Oklahoma Working Interests
Additionally, XTO Energy reported a recovery of $39,000 from properties related to Oklahoma Working Interests. After these recoveries, it's important to highlight that no proceeds remain from the properties to impact this month's distribution. The cumulative excess costs for Oklahoma Working Interests currently stand at $33,000, inclusive of $443 in accrued interest.
Accessing Financial Information and Resources
For further insights regarding the Cross Timbers Royalty Trust, including annual tax-related details, distribution report analyses, and previous announcements, stakeholders are encouraged to visit the trust's official website. Transparent communication is a priority, promoting informed decision-making among unitholders.
Frequently Asked Questions
What is the recent cash distribution amount announced by Cross Timbers Royalty Trust?
The Trust has declared a cash distribution of $0.030376 per unit for the current month.
When will the distribution be payable to unitholders?
The distribution will be payable on a specified date in the following month, as usual.
What underlying sales were noted for oil and gas?
Recent reports indicated 9,000 barrels of oil and 47,000 Mcf of gas sold during the current month.
How do excess costs affect distribution proceeds?
Excess costs can impact overall proceeds, although recent increases did not lower net proceeds from conveyances for unitholders.
Where can I find more information about the Trust?
More detailed information, including distribution reports and tax details, is available on the Trust's official website.
