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Article: CROSS TIMBERS ROYALTY TRUST ANNOUNCES LAWSUIT SETTLEMENT AND ANTICIPATED RECEIPT OF $675,000
- Article from:
- PR Newswire
- Article date:
- July 29, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FORT WORTH, Texas, July 29 /PRNewswire/ -- NationsBank of Texas, N.A., Trustee of Cross Timbers Royalty Trust (NYSE: CRT), announced today the settlement in principle of a lawsuit filed by the Trust, Cross Timbers Oil Company and other owners of overriding royalty interests in certain oil and gas properties located in San Juan County, N.M. Under the proposed settlement, Cross Timbers Oil, in return for a payment of $750,000, will reduce its 7.5 percent interest in these properties to a 1.875 percent interest. The Trust owns a 90 percent net profits interest in the overriding royalty interest owned by Cross Timbers Oil.
The settlement is subject to completion of ...
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Article: Cross Timbers Royalty Trust to Receive ...
PR Newswire;
May 14, 1997 ;
700+ words
... ... Texas, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), today ... proved reserves. SOURCE Cross Timbers Royalty Trust -0- 05/14/97 ... Texas, N.A., Trustee for Cross Timbers Royalty Trust, 817-390-6592 ...
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