Company Overview

Cross Timbers Royalty Trust (CRT) is a U.S.-based statutory royalty trust formed to own and administer royalty interests in producing oil and natural gas properties. The trust operates within the energy and oil and gas royalty industries and does not engage in exploration, drilling, or production activities. Its sole purpose is to collect and distribute royalty income generated from underlying properties to unitholders after the deduction of trust expenses.

CRT’s primary revenue drivers are royalty payments derived from oil and natural gas production attributable to its interests in legacy producing fields. The trust serves income-oriented investors seeking exposure to commodity-linked cash distributions rather than growth through reinvestment. Its strategic positioning is defined by a low-cost structure, no operating risk, and mandatory cash distributions, distinguishing it from operating energy companies.

The trust was established in 1991 through a conveyance by Cross Timbers Oil Company, which later became part of XTO Energy and subsequently Exxon Mobil. Since inception, CRT has remained a passive vehicle with a finite life, designed to decline over time as the underlying reserves are produced.

Business Operations

Cross Timbers Royalty Trust operates as a passive owner of royalty interests and does not conduct business operations in the traditional sense. Its assets consist of net profits interests and overriding royalty interests in oil and natural gas properties. Revenue is generated from the sale of hydrocarbons by third-party operators, with CRT entitled to a contractually defined share of proceeds.

The trust’s activities are entirely domestic, limited to the administration of royalty income, payment of administrative expenses, and distribution of remaining cash to unitholders. CRT controls no drilling technology, infrastructure, or operational assets and has no subsidiaries or joint ventures. All field operations are managed by independent operating companies, and the trust has no authority to influence development decisions.

Strategic Position & Investments

CRT’s strategic direction is fixed by its trust agreement, which prohibits reinvestment, acquisitions, or diversification into new assets. The trust does not pursue growth initiatives, capital expenditures, or technological development. Its role is limited to preserving the integrity of existing royalty interests and ensuring accurate collection and distribution of proceeds.

There are no investments, acquisitions, or portfolio companies associated with CRT. The trust is not involved in emerging energy technologies or new sectors. Its investment profile is characterized by declining production over time, sensitivity to commodity prices, and a focus on current income rather than long-term capital appreciation.

Geographic Footprint

Cross Timbers Royalty Trust’s royalty interests are located exclusively within the United States, primarily across Texas, Oklahoma, and New Mexico. These regions encompass mature oil and gas basins with long-established production histories.

The trust has no international operations, investments, or exposure outside the U.S. Its administrative functions are conducted through its trustee, with no physical operating footprint beyond the geographic location of the underlying producing properties.

Leadership & Governance

CRT has no executive management, employees, or officers. Governance is provided through a trustee structure, consistent with its status as a statutory royalty trust. The trustee is responsible for fiduciary oversight, financial reporting, and cash distributions but does not set strategic direction beyond the terms of the trust agreement.

Key governance oversight includes:

• Simmons Bank – Trustee

The trust does not articulate a leadership philosophy or corporate vision, as its operational and financial activities are strictly defined by the trust agreement. Data inconclusive based on available public sources regarding individual executive officers, as the trust is administered by a corporate trustee rather than named executives.