Cross Timbers Royalty Trust Announces Cash Distribution
Argent Trust Company, the Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), has announced an upcoming cash distribution to unitholders. The distribution amount will be $0.031753 per unit, payable shortly. This announcement highlights continued prosperity for the Trust as it navigates the current market environment.
Understanding the Distribution Breakdown
The distribution, reflecting financial performance, will be paid out on a specified date to unitholders of record. This payment aims to reward investors for their confidence in the Trust and its management strategy. The current and previous month’s sales figures are vital for gauging overall performance.
Recent Sales Performance
The Trust reported notable underlying oil and gas sales, indicating a positive trend in the market. The volumes of oil and gas sold are pivotal for determining the associated average prices and overall value of the Trust's assets. Collecting these metrics is essential for assessing the Trust's economic health.
Current Month Distribution Analysis
In the latest report, the Trust documented current month sales of 14,000 barrels of oil and 111,000 Mcf of gas. The average price per barrel of oil reached $63.13, while gas was valued at $3.17 per Mcf. These figures are crucial indicators of market trends and the Trust's operational success.
Prior Month Sales Figures
In comparison, the prior month’s distribution showcased the sale of 10,000 barrels of oil and 49,000 Mcf of gas. The average prices were slightly lower, with oil at $62.10 per barrel and gas at $3.62 per Mcf. This fluctuation in sales volumes illustrates the dynamic nature of the energy market the Trust operates within.
Excess Costs and Their Impact
As part of their financial disclosures, XTO Energy reported excess costs that rose significantly related to the Texas Working Interest. These costs have increased by $129,000 but did not directly impact the net proceeds from other conveyances. Cumulatively, excess costs on the Texas Working Interest net profits interests now total $5,128,000.
Oklahoma Working Interest Recovery
Additionally, XTO Energy reported full recovery of excess costs on properties associated with the Oklahoma Working Interest. This positive note contributes to maintaining the Trust's robustness despite various challenges faced in the sector.
Looking Ahead for Cross Timbers Royalty Trust
The sustained returns to unitholders reflect management's proactive approach toward maximizing operational efficiency and addressing cost challenges. With diligent oversight of changing market conditions, the Trust remains positioned to adapt and thrive. Stakeholders can anticipate regular updates that detail the Trust's ongoing performance and strategic initiatives.
Frequently Asked Questions
What is the announced distribution amount for the next payout?
The upcoming cash distribution is set at $0.031753 per unit.
When will the distribution be paid out?
The distribution will be payable on a specified date to unitholders of record.
How are underlying sales figures determined?
Sales figures are derived from the volume of oil and gas sold and associated market prices within the reporting period.
What impact do excess costs have on distributions?
Excess costs impact net proceeds which can influence the distribution amounts made available to unitholders.
Where can I find more information about Cross Timbers Royalty Trust?
For additional information, you may visit the Trust's official website.
