Cross Timbers Royalty Trust Announces Cash Distribution Update
Cross Timbers Royalty Trust Declares October Cash Distribution
Argent Trust Company, acting as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), has declared a cash distribution for the unit holders. This distribution amounts to $0.064592 per unit, payable soon to those holding units as of a recent record date. The cash distribution reflects the Trust’s performance and underlying sales related to oil and gas production.
Understanding the Recent Distribution
This month’s distribution highlights the Trust's financial health through the mechanism of benefitting its unitholders. The amount declared indicates the revenue collected from the underlying assets over time. In recent months, fluctuations in oil and gas sales volumes have been observed, influenced by market demand and timing of sales receipts.
Financial Performance Snapshot
To give clarity, the underlying sales volumes for October indicated that the Trust's oil production totaled 12,000 barrels, while gas production reached 82,000 Mcf. Average prices recorded were notable, with oil priced at $76.77 per barrel and gas at $4.46 per Mcf. In comparison, the previous month's distribution showed higher volumetric output for both oil and gas, leading to changes in income distributions.
Litigation and Financial Adjustments
Recent updates from the Trust include the court’s approval of a settlement in a class action lawsuit against XTO Energy Inc., linked with production costs. This legal matter pertains to royalties previously disputed, affecting financial dynamics and resulting in production cost adjustments for the Trust.
Impact of Excess Costs on Distributions
XTO Energy has communicated that excess costs related to certain properties have increased significantly, equating to approximately $125,000. While these costs impact operational calculations, they did not detract from overall net proceeds derived from other transformations in conveyances associated with the net profits interests.
Strategic Outlook for the Trust
As the Trust navigates these complex and evolving financial landscapes, it remains committed to transparency and regular updates with stakeholders. Tracking the impacts of external market factors, to maintaining reliable distributions is crucial as it strives to optimize the performance of its underlying assets.
Communication and Information Access
For additional insights into the Trust's performance, unit holders are encouraged to access comprehensive reports and updates, which will be made available through the official Cross Timbers Royalty Trust platform. Regular communications ensure stakeholders are kept informed of financial developments.
Frequently Asked Questions
What is the cash distribution amount declared for October?
The cash distribution amount declared for October is $0.064592 per unit.
When will the cash distribution be payable?
The cash distribution will be payable on November 15, 2024, to unitholders who are on record as of October 31, 2024.
How does the settlement with XTO Energy affect the Trust?
The settlement with XTO Energy resulted in adjustments in production costs, influencing the financial distributions to unit holders.
What are the reported production volumes for October?
For October, the reported production volumes were 12,000 barrels of oil and 82,000 Mcf of gas.
How can unit holders access additional information on the Trust?
Unit holders can access additional information and related financial documents through the Cross Timbers Royalty Trust's official website.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- Investors Gear Up for Trustmark's Upcoming Earnings Report
- Market Update: Earnings Season Looms as Stocks Fluctuate
- New York Mortgage Trust Adapts Amid Market Challenges
- Brandywine Realty Trust's Earnings: What Investors Should Know
- Bybit Card Introduces Expanded Cashback in BTC and ETH
- Banijay Group Reports Weekly Share Movements and Updates
- KBRA's Ratings Announcement for Sequoia Mortgage Trust Explained
- Plaza Retail REIT Declares Monthly Distribution for Investors
- FIBRA Prologis Announces Earnings Call for Q3 2024 Results
- Portuguese Market Update: PSI Sees Decline Amid Sector Losses
Recent Articles
- ProPharma Welcomes Brian Tuttle as New CFO to Enhance Growth
- Hertz's Initiative to Encourage Voting with Free Day Rental
- Elevate Your Big Game Celebration with Avocados From Mexico
- Urban Farmer Welcomes Chris Jaromin as New CEO Leadership
- Campbell Police Enhances Drone Operations Across Multiple Areas
- HemoSonics Secures NIH Grant to Improve Maternal Health Outcomes
- Genpact Unveils Innovative Finance Data Hub for CFOs
- Martinelli's Classic Taste Revived with 1868 Hard Cider
- JPMorgan Upgrades MP Materials Forecast Amid Market Trends
- Royal Caribbean Cruises Continues Positive Momentum in Stock Ratings
- MIRA Pharmaceuticals Showcases Breakthrough in Pain Management
- Concerns Rise as VF Corp Faces Serious Revenue Challenges
- Hollywood Bowl Celebrates Record Growth and Future Plans
- Ricardo plc Shifts Focus to Environmental Consulting Strategy
- Discovering High-Yield Dividend Stocks Worth Investing Now
- Exploring Super Micro Computer: Is It a Smart Investment?
- Projected Growth of Data Integration Market to 2031
- Ascot Resources Plans Major Funding for Future Mine Development
- Expansion of TSA PreCheck Enrollment Locations by Office Depot
- Nicholas Wealth Hits Milestone with $100 Million in FIAX ETF
- Nevada King Expands Wild West Zone with New Drill Intercepts
- Exciting Expansion Plans for Odd Burger as New Locations Open
- Acacia Research Strengthens Portfolio with Deflecto Acquisition
- Nevada King Gold Corp. Initiates New Phase III Drill Program
- Valvoline Instant Oil Change Achieves Top 40 Franchise Ranking
- Generac Holdings Secures Major Grant for Innovative Energy Solutions
- Elevai Labs Develops EL-32: A Potential Obesity Game Changer
- ECI Group Secures $350 Million for Multifamily Growth Strategy
- Cybersecurity Advances from SolarEdge with EU Certification
- Velocity MSC Secures SOC 2 Type II Certification for Data Security
- NorthView Acquisition Corp's Strategic Compliance Moves Ahead
- Lamb Weston Stock Target Increased by BofA Amid Activist Stake
- Baird Raises Griffon Corp Price Target to $92, Outperform Rating
- JPMorgan Boosts ULTA Beauty Price Target Amid Cautious Outlook
- Advent Technologies Restores Nasdaq Standing with Key Filings
- Clarification on Tax Implications for Shareholders
- Clean Harbors Price Target Increases with Strong Market Outlook
- Tech Earnings Take Center Stage with Tesla Leading the Charge
- Transforming GameFi: FishWar's Integration with Sei Technology
- Growing Microencapsulation Market Expected To Thrive Until 2034
- Navigating the Growth of Disposable Medical Sensors Market
- Market Insights: The Surge of Dollar Demand and Its Impacts
- Truck Cranes Set for Growth: Projected Market Value Hits $14.9 Billion
- Navigating Market Trends: Key Earnings Week Insights
- Volcon ePowersports Reveals Exciting UTV and Motorcycle Updates
- Exploring EL-32: A Game Changer in Obesity Treatment
- Probe Gold Enhances Novador Project Through New Technical Reports
- Pasinex Resources Secures New Potential Zinc Project in Türkiye
- SL Green Realty Corp. Declares Monthly Common Stock Dividend
- NanoXplore Announces Exciting First Quarter Webcast Details