Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CROSS TIMBERS ROYALTY TRUST | d588434d8k.htm |
EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
CROSS TIMBERS ROYALTY TRUST
DECLARES AUGUST CASH DISTRIBUTION
Dallas, Texas, August 20, 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 $0.235695 per unit, payable on September 16, 2013, to unitholders of record on August 30, 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 | 163,000 | $ | 90.47 | $ | 7.09 | ||||||||||
| Prior Month |
18,000 | 135,000 | $ | 89.21 | $ | 6.28 | ||||||||||
Excess Costs
XTO Energy has advised the trustee that higher oil prices and decreased costs led to the full recovery of excess costs and accrued interest on properties underlying the Texas Working Interest net profits interest, which is again contributing to the current month distribution.
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 |