PR Newswire | Aug 21, 2020 09:30AM EDT

08/21 08:30 CDT

Cross Timbers Royalty Trust Declares August Cash Distribution DALLAS, Aug. 21, 2020

DALLAS, Aug. 21, 2020 /PRNewswire/ -- Simmons 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 $0.037954 per unit, payable on September 15, 2020, to unitholders of record on August 31, 2020. 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 Gas Oil Gas

(Bbls) (Mcf) (per Bbl) (per Mcf)

Current Month Distribution 16,000 99,000 $31.34 $2.83

Prior Month Distribution 11,000 113,000 $16.29 $2.67

(a) Sales volumes are recorded in the month the Trust receives the related netprofits income. Because of this, sales volumes may fluctuate from month tomonth based on the timing of cash receipts.

Excess Costs

XTO Energy has advised the Trustee that excess costs increased by $78,000 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 total $2.6 million, including accrued interest of $401,000.

XTO Energy has advised the Trustee that excess costs increased by $9,000 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 total $0.3 million, including accrued interest of $1,000.

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