CROSS TIMBERS ROYALTY TRUST (NYSE:CRT) Files An 8-K Results of Operations and Financial Condition
Item2.02.
|
Results of Operations and Financial Condition. |
On June20, 2017, the Registrant issued a news release announcing
its monthly cash distribution to unitholders of record on June30,
2017. A copy of the news release is furnished as Exhibit 99.1.
The information in this Current Report, including the news
release attached hereto, is being furnished to Item2.02 of Form
8-K and shall not be deemed filed for purposes of Section18 of
the Securities Exchange Act of 1934, as amended, or otherwise
subject to liabilities of that Section.
Item9.01. |
Financial Statements and Exhibits. |
(c) |
Exhibits. |
99.1 News Release dated June20, 2017
2
CROSS TIMBERS ROYALTY TRUST ExhibitEX-99.1 2 d393663dex991.htm EX-99.1 EX-99.1 EXHIBIT 99.1 [NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE] CROSS TIMBERS ROYALTY TRUST DECLARES JUNE CASH DISTRIBUTION Dallas,…To view the full exhibit click here About CROSS TIMBERS ROYALTY TRUST (NYSE:CRT)
Cross Timbers Royalty Trust is an express trust. The net profits interests are the principal asset of the Trust. The net profits interests consist of approximately 90% net profits interests, which are carved from producing royalty and overriding royalty interest properties in Texas, Oklahoma and New Mexico, and 11.11% nonparticipating royalty interests in non-producing properties located primarily in Texas and Oklahoma. The Trust’s net profits interests consist of approximately 75% net profits interests, which are carved from working interests in over four properties in Texas and three properties in Oklahoma. All underlying royalties, underlying non-producing royalties and underlying working interest properties are owned by XTO Energy Inc. The underlying properties include over 2,900 producing properties with established production histories in Texas, Oklahoma and New Mexico. The average reserve-to-production index for the underlying properties is approximately 10 years.