EX-99.1 2 d572531dex991.htm EX-99.1 EX-99.1

EXHIBIT 99.1

[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]

CROSS TIMBERS ROYALTY TRUST

DECLARES DECEMBER CASH DISTRIBUTION

Dallas, Texas, December 18, 2023 – Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the “Trust”) (NYSE:CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.142897 per unit, payable on January 16, 2024, to unitholders of record on December 29, 2023. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.

 

     Underlying Sales         
     Volumes (a)      Average Price  
     Oil
(Bbls)		      Gas
(Mcf)		      Oil
(per Bbl)		      Gas
(per Mcf)		  

Current Month Distribution

      19,000        118,000      $ 84.61      $ 5.24  

Prior Month Distribution

      21,000        140,000      $ 76.47      $ 4.60  

 

(a)

Sales volumes are recorded in the month the Trust receives the related net profits income. Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts.

Excess Costs

XTO Energy has advised the Trustee excess costs increased by $726,000 on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances. Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests total $3,091,000, including accrued interest of $815,000.

For more information on the Trust, please visit our website at www.crt-crosstimbers.com.

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Contact:

   

Nancy Willis

Vice President

Argent Trust Company, Trustee

855-588-7839