EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
CROSS TIMBERS ROYALTY TRUST
DECLARES DECEMBER CASH DISTRIBUTION
Dallas, Texas, December 20, 2024 – Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the “Trust”) (NYSE: CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.062265 per unit, payable on January 15, 2025, to unitholders of record on December 31, 2024. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.
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| | Underlying Sales | | |
| | Volumes (a) | | Average Price |
| | Oil (Bbls) | | Gas (Mcf) | | Oil (per Bbl) | | Gas (per Mcf) |
| | | | | | | | |
Current Month Distribution | | 13,000 | | 68,000 | | $69.15 | | $3.26 |
| | | | | | | | |
Prior Month Distribution | | 13,000 | | 86,000 | | $71.39 | | $3.54 |
| | | | | | | | |
(a)Sales volumes are recorded in the month the Trust receives the related net profits income. Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts. |
Excess Costs
XTO Energy has advised the Trustee that excess costs increased by $69,000 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 total $4,256,000, including accrued interest of $1,115,000.
For more information on the Trust, including the annual tax information, distribution amounts, and historical press releases, please visit our website at www.crt-crosstimbers.com.
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Contact: | Nancy Willis Director of Royalty Trust Services Argent Trust Company, Trustee 855-588-7839 |
