Cross Timbers Royalty Trust Announces Cash Distribution
Argent Trust Company, the Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), has declared a cash distribution for its unitholders. The distribution stands at $0.036930 per unit, which is set to be payable to those on record shortly. This payout reflects the trust's ongoing commitment to its unit holders, providing a timely return on their investment.
Details of the Cash Distribution
Units of beneficial interest will be payable on a specified date, with unitholders needing to be on record by a certain cut-off date. While the figures and specifics regarding related oil and gas sales are essential, it is essential to recognize the trends and patterns in these distributions, reflecting the Trust's operational performance over time.
Understanding Current and Previous Months' Distributions
The current month has showcased a notable volume of oil and gas sales. In terms of distribution, the trust noted 14,000 barrels of oil sold alongside 50,000 Mcf of natural gas this month. This corresponds to an average price of $60.37 per barrel of oil and $4.55 per Mcf of gas. Comparatively, the prior month included sales of 12,000 barrels and a larger gas volume of 80,000 Mcf, with average prices at $67.13 for oil and $4.79 for gas. These variances depict the adaptability of the Trust in response to market conditions.
The Fluctuation of Sales Volumes
Sales volumes can fluctuate significantly based on several operational factors. The Trust's revenues are often influenced by the timing of cash receipts and market demand, hence why variability is prevalent monthly. It’s insightful for unit holders to acknowledge the causes of these shifts, helping to provide better context around financial statements and reports.
Excess Costs Impacting Financial Outcomes
It’s essential to stay informed about the costs associated with Trust operations. Recently, XTO Energy has alerted the Trustee that excess costs increased by $56,000 related to properties underlying the Texas Working Interest net profits interests. Fortunately, these added costs did not diminish the net proceeds from other sources. However, the total cumulative excess costs tied to these interests currently stand at $5,320,000, which includes accrued interest amounts.
Additionally, XTO Energy has also indicated fully recovered excess costs of $6,000 on properties related to Oklahoma’s Working Interest net profits interests, highlighting the Trust's efficiency in managing its financial obligations while maximizing returns to unit holders.
Further Information on the Trust
The Trust continues to provide valuable information to its stakeholders. To discover more about ongoing distributions, annual tax reporting, and historical performance, unitholders and potential investors should keep an eye on the Cross Timbers Royalty Trust's official online platform.
Frequently Asked Questions
What is the current cash distribution amount for unitholders?
The current cash distribution is set at $0.036930 per unit for the upcoming payout.
When will the cash distribution be paid out?
The cash distribution is scheduled to be payable shortly, with dates specified for record-keeping.
What factors influence the distribution amounts?
Distribution amounts fluctuate based on oil and gas sales volumes, market prices, and timing of cash receipts.
How does Cross Timbers manage excess costs?
The Trust actively monitors expenses and revenue flows to ensure efficient operation and to aid in cost recovery efforts.
Where can I find more information about the Trust?
Detailed information about the Trust, including tax details and historical performance, is available on their official website.
