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Article: Cross Timbers Oil Company Anticipates Sale of Cross Timbers Royalty Trust Units
- Article from:
- PR Newswire
- Article date:
- June 16, 1998
CopyrightCOPYRIGHT 1998 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, June 16 /PRNewswire/ -- Cross Timbers Oil Company (NYSE: XTO) announced today that it has filed a registration statement with the Securities and Exchange Commission to sell its 1,360,000 units of beneficial interest in Cross Timbers Royalty Trust (NYSE: CRT). The registered units were obtained by the Company through private and open market transactions during 1996, 1997 and early 1998.
Since December 1997, Cross Timbers has acquired 540 billion cubic feet of gas equivalent in the San Juan and East Texas basins at a cost of approximately $410 million. These properties created two new core areas of primarily operated properties. As the ...