CROSS TIMBERS ROYALTY TRUST H1 Net Profits Income Down 44% to $1.86M
Cross Timbers Royalty Trust reported a significant decline in financial performance for the quarter and six months ended June 30, 2026. Net profits income for the six-month period decreased 44% to $1.86 million, resulting in a 49% drop in distributable income to $1.36 million. For the second quarter, net profits income fell 16% to $1.09 million, and distributable income decreased 3.5% to $0.86 million. These declines were primarily driven by decreased oil and gas production, lower gas prices, and increased overhead costs, partially offset by higher oil prices and decreased production expenses. The Trust also noted cumulative excess costs of $6.8 million ($5.1 million net to the Trust) remaining to be recovered.
Key Highlights
- Six-month net profits income decreased 44% to $1.86 million.
- Six-month distributable income decreased 49% to $1.36 million.
- Q2 net profits income decreased 16% to $1.09 million.
- Q2 distributable income decreased 3.5% to $0.86 million.
- Six-month oil sales volumes from underlying properties decreased 19%.
- Six-month gas sales volumes from underlying properties decreased 26%.
- Q2 average oil price increased 7% to $71.54 per Bbl.
- Cumulative excess costs totaled $6.8 million ($5.1 million net to Trust).
Price Impact
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