The sharp decline in realized oil prices ($78.27 vs $109.21) is the dominant factor, partially offset by higher oil volumes. Monitor monthly distribution trends and XTO Energy's excess cost recovery progress on Oklahoma properties for signals on future distribution sustainability.
Price Chart
Executive Summary
Cross Timbers Royalty Trust declared an August cash distribution of $0.067892 per unit, payable September 15, 2026. Underlying oil sales volumes increased to 11,000 Bbls from 6,000 Bbls in the prior month, but the average oil price fell sharply to $78.27/Bbl from $109.21/Bbl. Gas volumes declined to 50,000 Mcf from 75,000 Mcf, with the average gas price slipping to $4.69/Mcf from $4.84/Mcf. Cumulative excess costs on Texas properties rose to $6.021M, while Oklahoma excess costs were partially recovered but still left no distributable proceeds from those properties.
Key Facts
- Cash distribution of $0.067892 per unit declared for August 2026.
- Oil volumes: 11,000 Bbls (current) vs 6,000 Bbls (prior month).
- Oil price: $78.27/Bbl (current) vs $109.21/Bbl (prior month).
- Gas volumes: 50,000 Mcf (current) vs 75,000 Mcf (prior month).
- Gas price: $4.69/Mcf (current) vs $4.84/Mcf (prior month).
- Cumulative excess costs on Texas properties: $6,021,000 (including $1,727,000 accrued interest).
- Cumulative excess costs on Oklahoma properties: $552,000 (including $34,000 accrued interest).
Financial Impact
Monthly distribution of $0.067892/unit; oil revenue impacted by lower prices despite higher volumes
Risk Factors
- Further decline in oil and gas prices could compress distributions.
- Cumulative excess costs on Texas properties ($6M+) remain a drag on net profits.
- Oklahoma properties contributed zero proceeds this month despite partial excess cost recovery.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-360273 |
| Document: crt-ex99_1.htm | 0001193125-26-360273 |
| Document: 0001193125-26-360273-index-headers.html | 0001193125-26-360273 |
| Document: 0001193125-26-360273-index.html | 0001193125-26-360273 |
| Document: 0001193125-26-360273.txt | 0001193125-26-360273 |
| 8-K Data (Synthetic) | 0001193125-26-360273 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 8-K | $13.60 | awaiting T+20 | — | $14.11 (+3.75%) |
Sep 18, 2026 5w ago | 8-K | $12.68 $12.80 | ▼ −0.93% | ▼ −0.73% | $14.11 (−11.26%) |
Aug 21, 2026 9w ago | 8-K | $10.81 $12.32 | ▲ +13.97% | ▲ +14.49% | $14.11 (+30.53%) |
Jul 21, 2026 14w ago | 8-K | $9.69 $10.58 | ▲ +9.18% | ▲ +6.62% | $14.11 (+45.61%) |
Jun 18, 2026 18w ago | 8-K | $8.93 $9.18 | ▲ +2.80% | ▲ +2.27% | $14.11 (+58.01%) |
May 18, 2026 23w ago | 8-K | $10.60 $9.76 | ▲ +7.92% | ▲ +9.51% | $14.11 (−33.11%) |
Apr 20, 2026 27w ago | 8-K | $10.49 $10.60 | ▲ +1.03% | ▼ −3.17% | $14.11 (+34.49%) |
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