Cross Timbers Royalty Trust Announces September Distribution
Cross Timbers Royalty Trust, under the management of Argent Trust Company, has made an announcement regarding a cash distribution of $0.102230 per unit. This is an important update for unitholders, as this amount will be payable to those who are recorded by the end of the month. The distribution underscores a consistent stream of income generated from the Trust's operations.
Breaking Down the Distribution Process
The distribution payment is expected to occur in mid-October, a time that generates excitement among investors. The Trust's financial results shed light on oil and gas sales for the current month. Key figures, such as sales volumes and average prices, are crucial indicators of financial health and play a significant role in determining the distribution amount.
Sales Performance This Month
This month, the Trust reported selling 16,000 barrels of oil and 138,000 Mcf of gas. These significant volumes highlight a strong performance, contributing positively to the cash distribution. The average prices achieved were $77.46 per barrel of oil and $3.29 per Mcf of gas. These numbers reflect favorable market conditions and effective resource management.
Sales Figures from Last Month
Looking back at the previous month, the Trust recorded sales of 13,000 barrels of oil and 67,000 Mcf of gas, with slightly lower average prices of $76.84 per barrel for oil and $3.33 per Mcf for gas. Reviewing these historical figures helps us appreciate the upward trend in performance, showcasing the Trust's ability to adapt and succeed.
Recent Factors Impacting the Trust
A key factor influencing this month’s distribution is the settlement in a royalty class action lawsuit against XTO Energy Inc. This case ended favorably for the Trust, leading to additional production costs that were factored into the latest financials. The Trustee's actions demonstrate a firm commitment to protecting the Trust's interests while effectively navigatating potential legal challenges.
Managing Increased Costs
There have been reports of rising excess costs associated with the underlying properties. However, these costs have not adversely affected the net proceeds from the Trust’s operations. The Trustee's ability to handle and mitigate these financial challenges reflects prudent management, ensuring continued stability and profitability.
Investor Contact Information
For anyone looking for more information about the Trust, they are encouraged to reach out to the Director of Royalty Trust Services. This open channel of communication supports strong investor relations and helps foster a sense of community among unitholders.
Here are the primary contact details:
- Name: Nancy Willis
- Position: Director of Royalty Trust Services, Argent Trust Company
- Phone: 855-588-7839
Frequently Asked Questions
What is the amount of the September cash distribution?
The cash distribution for September is $0.102230 per unit for unitholders.
When will the distribution be paid?
The payment is scheduled for October, specifically on the 15th.
How have the recent legal settlements impacted distributions?
The legal settlements, particularly with XTO Energy, have positively influenced net proceeds, allowing for a higher distribution amount this month.
What are the sales volumes for oil and gas this month?
This month, the Trust reported sales of 16,000 barrels of oil and 138,000 Mcf of gas.
Who can I contact for more information about the Trust?
Investors can reach out to Nancy Willis, the Director of Royalty Trust Services, at 855-588-7839 for inquiries.
