EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
CROSS TIMBERS ROYALTY TRUST
DECLARES SEPTEMBER CASH DISTRIBUTION
Dallas, Texas, September 18, 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 $0.094355 per unit, payable on October 15, 2015, to unitholders of record on September 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 | | | 20,000 | | | | 106,000 | | | $ | 53.73 | | | $ | 3.64 | |
Prior Month | | | 21,000 | | | | 147,000 | | | $ | 54.88 | | | $ | 3.82 | |
Excess Costs
XTO Energy has advised the trustee that lower oil prices and decreased oil production 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
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 |
