Cross Timbers Royalty Trust Announces December Cash Distribution for Investors
In a notable announcement from Dallas, the Cross Timbers Royalty Trust, managed by Argent Trust Company, has declared a cash distribution of $0.062265 per unit of beneficial interest for December. This distribution is set to be paid out on January 15, 2025, to all unitholders who are on record by December 31, 2024.
The funds distributed are derived from oil and gas sales achieved by the Trust, which reported significant sales volumes this month. Specifically, the Trust confirmed it sold 13,000 barrels of oil and 68,000 thousand cubic feet (Mcf) of gas, with an average price of $69.15 per barrel of oil and $3.26 per Mcf of gas. Compared to the previous month, where it also sold 13,000 barrels of oil, the volume of gas sold was slightly higher last month at 86,000 Mcf, achieving average prices of $71.39 per barrel for oil and $3.54 per Mcf for gas. These figures illustrate minor fluctuations across the months, which can often happen due to timing differences in cash receipts.
In the announcement, the Trustee also addressed the issue of increased excess costs amounting to $69,000, which have been reported by XTO Energy. However, despite these increased costs associated with the Texas Working Interest net profits interests, they did not adversely impact the net proceeds of the remaining conveyances. Currently, the Trust has remaining cumulative excess costs of $4,256,000, inclusive of accrued interest of $1,115,000. This awareness of operating costs is vital for managing expectations and understanding the Trust's financial health.
Unitholders can access more information about the Trust along with annual tax details and historical press releases on the official website at www.crt-crosstimbers.com. For investors involved or keen on the financial intricacies and potential of the Trust, keeping updated on these distributions is essential for assessing upcoming financial stability and potential returns.
This distribution is especially significant because it reflects the Trust's ongoing commitment to delivering consistent returns to its investors, serving as a reminder of the broader implications for stakeholders in the oil and gas sector amid fluctuating market conditions. As the Trust gears up for the payout and looks toward future distributions, keeping an eye on market performance will be crucial for investors and analysts alike.
Future distributions will be influenced by the global oil market conditions, production volumes, and management of operational costs. The implications of recent trends in the industry, especially the effects of rising operational costs, make it vital for stakeholders to remain informed as they navigate investment decisions revolving around the Trust's ongoing operations. The announcement of the December cash distribution bodes well for unitholders and reflects the dynamic nature of the oil and gas industry that requires adaptability and keen market insight.
The funds distributed are derived from oil and gas sales achieved by the Trust, which reported significant sales volumes this month. Specifically, the Trust confirmed it sold 13,000 barrels of oil and 68,000 thousand cubic feet (Mcf) of gas, with an average price of $69.15 per barrel of oil and $3.26 per Mcf of gas. Compared to the previous month, where it also sold 13,000 barrels of oil, the volume of gas sold was slightly higher last month at 86,000 Mcf, achieving average prices of $71.39 per barrel for oil and $3.54 per Mcf for gas. These figures illustrate minor fluctuations across the months, which can often happen due to timing differences in cash receipts.
In the announcement, the Trustee also addressed the issue of increased excess costs amounting to $69,000, which have been reported by XTO Energy. However, despite these increased costs associated with the Texas Working Interest net profits interests, they did not adversely impact the net proceeds of the remaining conveyances. Currently, the Trust has remaining cumulative excess costs of $4,256,000, inclusive of accrued interest of $1,115,000. This awareness of operating costs is vital for managing expectations and understanding the Trust's financial health.
Unitholders can access more information about the Trust along with annual tax details and historical press releases on the official website at www.crt-crosstimbers.com. For investors involved or keen on the financial intricacies and potential of the Trust, keeping updated on these distributions is essential for assessing upcoming financial stability and potential returns.
This distribution is especially significant because it reflects the Trust's ongoing commitment to delivering consistent returns to its investors, serving as a reminder of the broader implications for stakeholders in the oil and gas sector amid fluctuating market conditions. As the Trust gears up for the payout and looks toward future distributions, keeping an eye on market performance will be crucial for investors and analysts alike.
Future distributions will be influenced by the global oil market conditions, production volumes, and management of operational costs. The implications of recent trends in the industry, especially the effects of rising operational costs, make it vital for stakeholders to remain informed as they navigate investment decisions revolving around the Trust's ongoing operations. The announcement of the December cash distribution bodes well for unitholders and reflects the dynamic nature of the oil and gas industry that requires adaptability and keen market insight.
Topics Financial Services & Investing）
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