PR Newswire | Dec 20, 2021 09:01AM EST

12/20 08:00 CST

CROSS TIMBERS ROYALTY TRUST DECLARES DECEMBER CASH DISTRIBUTION DALLAS, Dec. 20, 2021

DALLAS, Dec. 20, 2021 /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 $0.137129 per unit, payable on January 14, 2022, to unitholders of record on December 31, 2021. 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 12,000 109,000 $73.31 $6.50

Prior Month Distribution 12,000 (153,000) $65.42 ($0.67)

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

Prior Month DistributionXTO Energy has advised the Trustee that out of period adjustments made by a remitter in the New Mexico Royalty Interest net profits interests had a significant impact on the gas sales volume and average price reported in the November 2021 distribution. XTO Energy has advised the Trustee that the remitter has indicated there will be additional adjustments affecting future distributions.

Excess CostsXTO Energy has advised the Trustee that $45,000 of excess costs were recovered on properties underlying the Texas Working Interest net profits interests. However, after the partial recovery, there were no remaining proceeds from the properties underlying the Texas Working Interest net profits interests to be included in this month's distribution. Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests after the current month's distribution total $6.3 million, including accrued interest of $537,000.

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