EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
CROSS TIMBERS ROYALTY TRUST
DECLARES AUGUST CASH DISTRIBUTION
Dallas, Texas, August 21, 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 $0.099341 per unit, payable on September 15, 2015, to unitholders of record on August 31, 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 | | | 21,000 | | | | 147,000 | | | $ | 54.88 | | | $ | 3.82 | |
Prior Month | | | 17,000 | | | | 142,000 | | | $ | 54.17 | | | $ | 3.93 | |
Excess Costs
XTO Energy has advised the trustee that increased oil production and decreased costs led to the partial recovery of excess costs on properties underlying the Oklahoma Working Interest net profits interests. However after the partial recovery, there were no remaining proceeds from the properties underlying the Oklahoma Working Interest net profits interests to be included in this month’s distribution.
XTO Energy has advised the trustee that decreased costs led to the partial recovery of excess costs 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.
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 |
