Cross Timbers Royalty Trust Declares April Cash Distribution
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DALLAS, April 20 /PRNewswire-FirstCall/ -- U.S. Trust, Bank of America Private
Wealth Management, 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 $0.117955 per unit, payable on May 14, 2009, to unitholders of
record on April 30, 2009. 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 Gas Oil Gas
(Bbls) (Mcf) (per Bbl) (per Mcf)
Current Month 19,000 139,000 $31.56 $6.19
Prior Month 18,000 152,000 $32.79 $6.10
Other
XTO Energy Inc. (XTO Energy) has advised the trustee that significantly lower
oil prices for February production caused costs to exceed revenues on
properties underlying the Texas and Oklahoma Working Interests. The downward
pressure on realized oil prices and monthly distributions is expected to
continue over the near term.
For more information on the Trust, please visit our web site at
www.crosstimberstrust.com.
Statements made in this press release, including those related to future
realized oil prices and monthly distributions, are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that are subject to risks and uncertainties which are detailed in
Part I, Item 1A of the trust's Annual Report on Form 10-K for the year ended
December 31, 2008, which is incorporated by this reference as though fully set
forth herein. Although XTO Energy and the trustee believe that the
expectations reflected in such forward-looking statements are reasonable,
neither XTO Energy nor the trustee can give any assurance that such
expectations will prove to be correct.
SOURCE U.S. Trust
Nancy G. Willis, Vice President, U.S. Trust, Bank of America Private Wealth
Management, Trustee, 1-877-228-5084
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