Cross Timbers Royalty Trust Declares August Cash Distribution

FORT WORTH, Texas, Aug. 21, 2017 /PRNewswire/ -- Southwest Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE:CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.092836 per unit, payable on September 15, 2017, to unitholders of record on August 31, 2017. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.

Excess Costs

XTO Energy has advised the Trustee that decreased oil production in the current month distribution caused costs to exceed revenues by $23,000 on properties underlying the Oklahoma 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 Oklahoma Working Interest net profits interests after the current month's distribution totaled $86,000, including accrued interest of $63,000.

XTO Energy has advised the Trustee that increased costs in the current month distribution caused costs to exceed revenues by $83,000 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 after the current month's distribution totaled $2.0 million, including accrued interest of $121,000.

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

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SOURCE Cross Timbers Royalty Trust