Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CROSS TIMBERS ROYALTY TRUST | d470305d8k.htm |
EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
CROSS TIMBERS ROYALTY TRUST
DECLARES JANUARY CASH DISTRIBUTION
Dallas, Texas, January 18, 2013 – U.S. Trust, Bank of America Private Wealth Management, 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 $0.157839 per unit, payable on February 14, 2013, to unitholders of record on January 31, 2013. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.
| Underlying Sales | ||||||||||||||||
| Volumes | Average Price | |||||||||||||||
| Oil (Bbls) |
Gas (Mcf) |
Oil (per Bbl) |
Gas (per Mcf) |
|||||||||||||
| Current Month |
18,000 | 151,000 | $ | 78.01 | $ | 4.53 | ||||||||||
| Prior Month |
21,000 | 174,000 | $ | 85.15 | $ | 5.16 | ||||||||||
Excess Costs
XTO Energy has advised the trustee that lower oil prices and increased costs related to the timing of cash disbursements caused costs to exceed revenues on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.
For more information on the Trust, please visit our web site at www.crosstimberstrust.com.
* * *
| Contact: |
Nancy G. Willis Vice President U.S. Trust, Bank of America Private Wealth Management, Trustee Toll Free – 877-228-5084 |