| Business Summary | | Cross
Timbers
Royalty
Trust
is
an
express
trust
created
to
Cross
Timbers
Royalty
Trust
Indenture
entered
between
predecessors
of
Cross
Timbers
Oil
Company,
as
grantors,
and
NCNB
Texas
National
Bank,
as
trustee.
Bank
of
America,
N.A.,
successor
of
NCNB
Texas
National
Bank,
is
now
the
trustee
of
the
Company.
In
1991,
the
predecessors
of
Cross
Timbers
Oil
conveyed
defined
net
profits
interests
to
the
trust
under
five
separate
conveyances,
one
in
each
of
the
states
of
Texas,
Oklahoma
and
New
Mexico.
Under
the
terms
of
each
of
the
five
conveyances,
the
Company
receives
royalty
income
from
net
profits
interests
on
the
last
business
day
of
each
month. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Cross
Timbers
Royalty
Trust
is
an
express
trust
with
interests
in
certain
royalty
and
overriding
royalty
interests
in
producting
properties
in
Texas,
Oklahoma,
and
New
Mexico.
For
the
six
months
ended
6/30/01,
total
revenues
increased
72%
to
$8.3
million.
Distributable
income
increased
74%
to
$8.2
million.
Results
benefitted
from
increased
royalty
income
due
to
higher
average
oil
and
gas
sales
volumes
and
prices.
Earnings
also
reflect
higher
margins. | More
from
Market Guide: Significant
Developments |
| | | The
Trust
has
no
directors
or
executive
officers. | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|