Cross Timbers Royalty Trust distributes royalties from more than 2,900 oil and natural gas producing properties in Texas, Oklahoma, and New Mexico. The trust, which was formed in 1991, does not operate or control any of its properties. Instead, it owns stakes in wells located primarily in gas properties in the San Juan Basin of northwestern New Mexico. The trust's estimated proved reserves are 856,000 barrels of oil and 25.6 billion cu. ft. of gas. XTO Energy, which markets the trust's oil and gas, owns the underlying propeties and distributed all of its trust units as a dividend to its stockholders in 2003.