EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
CROSS TIMBERS ROYALTY TRUST
DECLARES JUNE CASH DISTRIBUTION
Dallas, Texas, June 19, 2015 – Southwest 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 $0.080113 per unit, payable on July 14, 2015, to unitholders of record on June 30, 2015. 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 | | | 19,000 | | | | 114,000 | | | $ | 48.44 | | | $ | 3.62 | |
| | | | |
Prior Month | | | 17,000 | | | | 90,000 | | | $ | 45.22 | | | $ | 3.40 | |
Excess Costs
XTO Energy has advised the trustee that increased costs and lower oil prices caused costs to exceed revenues on properties underlying the Oklahoma Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.
XTO Energy has advised the trustee that lower oil prices caused costs to exceed revenues on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances
Reserves
Due to the volatility of the net profits income relating to low volumes and low commodity prices, the trustee increased its reserve for administrative expenses by $25,000 with the prior month distribution. This allows the trustee to maintain an estimated three months of administrative expenses on hand should it be unable to pay them out of the net profits income.
For more information on the Trust, please visit our web site atwww.crt-crosstimbers.com.
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| Contact: | | Nancy G. Willis Vice President Southwest Bank, Trustee Toll Free – 855-588-7839 |
