8-K: Cross Timbers Royalty Trust Announces March Cash Distribution of $0.156725 Per Unit

Cross Timbers Royalty Trust declares a March cash distribution of $0.156725 per unit, payable on April 14, 2025, to unitholders of record on March 31, 2025.

Summary

• Cross Timbers Royalty Trust (NYSE: CRT) announced a cash distribution of $0.156725 per unit.
• The distribution is payable on April 14, 2025, to unitholders of record on March 31, 2025.
• Underlying oil sales volumes for the current month distribution were 19,000 barrels, and gas sales volumes were 97,000 Mcf.
• The average oil price was $73.40 per barrel, and the average gas price was $5.05 per Mcf.
• For the prior month distribution, oil sales volumes were 12,000 barrels, and gas sales volumes were 90,000 Mcf.
• The average oil price for the prior month was $68.15 per barrel, and the average gas price was $3.51 per Mcf.
• Excess costs on properties underlying the Texas Working Interest net profits interests increased by $82,000.
• Cumulative excess costs remaining on the Texas Working Interest net profits interests total $4,403,000, including accrued interest of $1,195,000.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The announcement provides factual information about the distribution and underlying sales volumes. The mention of increasing excess costs is a slightly negative factor.

Positives

• The cash distribution provides income to unitholders.
• Oil and gas sales volumes and average prices are disclosed, providing transparency.

Negatives

• Excess costs on the Texas Working Interest net profits interests increased, which could reduce future distributions.
• Cumulative excess costs remain significant at $4,403,000.

Risks

• Fluctuations in oil and gas prices could impact future distributions.
• The timing of cash receipts can cause sales volumes to vary from month to month.
• Excess costs could continue to accumulate, further reducing net proceeds.

Future Outlook

The document does not provide specific forward-looking statements beyond the announced distribution.

Industry Context

This announcement is typical for royalty trusts, which distribute income from oil and gas production to unitholders. The distribution amount is influenced by commodity prices and production volumes.

Comparison to Industry Standards

• Comparable royalty trusts include those focused on oil and gas production, such as Permian Basin Royalty Trust (PBT) and Sabine Royalty Trust (SBR).
• Distribution yields vary based on commodity prices and trust-specific factors.
• Investors often compare distribution yields and underlying asset performance to assess the attractiveness of different royalty trusts.

Stakeholder Impact

• Unitholders will receive a cash distribution.
• The distribution amount is influenced by the performance of the underlying oil and gas properties.

Next Steps

• Unitholders of record on March 31, 2025, will receive the distribution on April 14, 2025.

Key Dates

Keywords

cash distribution, royalty trust, oil, gas, sales volumes, average price, excess costs, CRT, Cross Timbers Royalty Trust