Cash Distribution Announced by Cross Timbers Royalty Trust
Argent Trust Company, acting as Trustee of the Cross Timbers Royalty Trust (the "Trust") (NYSE: CRT), has officially declared a cash distribution for December. The amount set for the holders of its beneficial interest units stands at $0.062265 per unit. This distribution is scheduled to be payable to unitholders of record on an upcoming date.
Financial Considerations and Market Performance
The Trust's recent announcement indicates how underlying oil and gas sales have performed, alongside average prices associated with both oil and gas production. Understanding these metrics is vital for investors tracking the Trust's economic health, as fluctuations in sales volumes can significantly impact financial outcomes.
Current and Previous Distribution Details
The distribution this month is set against last month’s figures. In the current month, the distribution encompasses sales volumes of approximately 13,000 barrels of oil and 68,000 thousand cubic feet of gas, translating to an average price of $69.15 for oil and $3.26 for gas. This marks a consistent pattern in the Trust’s operations, directly reflecting the broader market trends.
Excess Cost Insights for Stakeholders
In addition to the cash distribution, stakeholders should be aware of the excess costs that XTO Energy has reported. These costs have risen by $69,000 for properties underlying the Texas Working Interest net profits interests. Importantly, this has not led to a decrease in net proceeds from other conveyances. Currently, the cumulative excess costs stand at $4,256,000, which includes $1,115,000 in accrued interest.
Further Information about the Trust
For those wishing to delve deeper into the financial performance of the Trust, including annual tax information and historical distribution amounts, the Trust maintains a comprehensive online presence. They provide tools and updates for all stakeholders to ensure they are informed about their investments.
Frequently Asked Questions
What is the current cash distribution for December?
The cash distribution declared for December is $0.062265 per unit for unitholders.
When will the distribution be paid?
The distribution is scheduled to be payable on a specified date to unitholders of record.
How do the excess costs affect the Trust?
Excess costs may impact net proceeds, though recent reports indicate no reduction in proceeds from the remaining conveyances.
Where can I find more information about the Trust?
Investors can visit the Trust’s official website for detailed information on distributions, financial performance, and tax-related queries.
What stock ticker represents Cross Timbers Royalty Trust?
Cross Timbers Royalty Trust is listed under the ticker symbol CRT on the NYSE.
