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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 8)
Cross Timbers Royalty Trust
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(Name of Issuer)
Units of Beneficial Interest
----------------------------
(Title of Class of Securities)
22757R 10 9
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(CUSIP Number)
Louis G. Baldwin
Senior Vice President
and Chief Financial Officer
Cross Timbers Oil Company
810 Houston Street, Suite 2000
Fort Worth, Texas 76102
(817) 870-2800
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 31, 1997
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
Page 1 of 7
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SCHEDULE 13D
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CUSIP No. 22757R 10 9
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1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Cross Timbers Oil Company
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75-2347769
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
a) [X] b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions)
WC, BK
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5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization
Delaware
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7) Sole Voting Power
Number of Shares 1,187,700
Beneficially Owned ---------
by Each Reporting ------------------------------------------------------
Person With 8) Shared Voting Power
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9) Sole Dispositive Power
1,187,700
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10) Shared Dispositive Power
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11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,187,700
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [X]
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13) Percent of Class Represented by Amount in Row (11)
19.8%
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14) Type of Reporting Person (See Instructions)
CO
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SCHEDULE 13D
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CUSIP No. 22757R 10 9
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1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Bob R. Simpson
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
a) [X] b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions)
PF, OO
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5) Check Box if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization
United States
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7) Sole Voting Power
Number of Shares 168,000
Beneficially Owned -------
by Each Reporting ------------------------------------------------------
Person With 8) Shared Voting Power
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9) Sole Dispositive Power
168,000
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10) Shared Dispositive Power
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11) Aggregate Amount Beneficially Owned by Each Reporting Person
168,000
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [X]
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13) Percent of Class Represented by Amount in Row (11)
2.8%
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14) Type of Reporting Person (See Instructions)
IN
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Page 3 of 7
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ONLY THE INFORMATION REPORTED FOR THE FOLLOWING ITEMS IN THIS AMENDMENT NO. 8 TO
SCHEDULE 13D IS AMENDED FROM THE INITIAL FILING ON SCHEDULE 13D DATED OCTOBER 9,
1996 AND PRIOR AMENDMENTS THERETO (THE INITIAL SCHEDULE 13D, TOGETHER WITH ALL
PRIOR AMENDMENTS, BEING REFERRED TO HEREIN AS "THE SCHEDULE 13D"). UNLESS
SPECIFICALLY HEREBY AMENDED, THE INFORMATION IN THE SCHEDULE 13D REMAINS
UNCHANGED. UNLESS OTHERWISE DEFINED HEREIN, ALL DEFINED TERMS USED HEREIN HAVE
THE SAME MEANING AS IN THE SCHEDULE 13D.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 is hereby amended as follows:
On February 18, 1997, George U. Wyper resigned from Cross Timbers' Board of
Directors.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is hereby amended as follows:
As of April 3, 1997, the total cost of Units purchased by Cross Timbers was
$16.2 million.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is hereby amended as follows:
(a) As of April 3, 1997, Cross Timbers beneficially owns 1,187,700 Units or
approximately 19.8% of the Issuer's outstanding Units of 6,000,000 at March 7,
1997, as reported in the Issuer's Annual Report on Form 10-K for its year ended
December 31, 1996. As of April 3, 1997, Bob R. Simpson, Chairman of the Board
of Directors and Chief Executive Officer of Cross Timbers, beneficially owns
168,000 Units or approximately 2.8% of the Issuer's outstanding Units.
As of April 3, 1997, Louis G. Baldwin, Senior Vice President and Chief
Financial Officer of Cross Timbers, and Vaughn O. Vennerberg II, Senior Vice
President - Land of Cross Timbers, do not own any Units.
(b) Cross Timbers has the sole voting power and dispositive power with
respect to the 1,187,700 Units it beneficially owns. Mr. Simpson has the sole
voting and dispositive power with respect to the 168,000 Units he owns.
(c) Schedule II, attached hereto and incorporated herein by reference, lists
all transactions in the Units effected since February 12, 1997 and through April
3, 1997 by Cross Timbers or Mr. Simpson or, to the knowledge of Cross Timbers or
Mr. Simpson, by any of the persons listed on Schedule I to the Schedule 13D.
Page 4 of 7
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
CROSS TIMBERS OIL COMPANY
Date: April 3, 1997 By: LOUIS G. BALDWIN
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Louis G. Baldwin
Senior Vice President and
Chief Financial Officer
BOB R. SIMPSON
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Bob R. Simpson
Page 5 of 7
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SCHEDULE II TO SCHEDULE 13D
The following lists Unit purchases effected by Cross Timbers since February
12, 1997 and through April 3, 1997. All such purchases were open market
transactions.
<TABLE>
<CAPTION>
Number Price
Date of Units per Unit
---- -------- --------
<S> <C> <C>
2/26/97 19,500 $14.564
2/27/97 400 14.625
2/28/97 9,500 14.625
3/3/97 20,000 14.625
3/4/97 2,200 14.625
3/5/97 1,900 14.625
3/6/97 500 14.625
3/7/97 9,500 14.625
3/10/97 1,800 14.625
3/21/97 1,800 14.625
3/24/97 200 14.625
3/25/97 4,700 14.625
3/26/97 3,700 14.500
3/27/97 1,400 14.500
3/31/97 10,000 14.500
4/1/97 6,600 14.500
4/2/97 39,000 14.500
4/3/97 10,500 14.494
</TABLE>
The following lists Unit sales effected by Mr. Simpson since February 12,
1997 and through April 3, 1997. All such sales were open market transactions.
<TABLE>
<CAPTION>
Number Price
Date of Units per Unit
---- -------- --------
<S> <C> <C>
2/20/97 500 $15.000
2/24/97 1,000 14.875
2/25/97 1,300 14.750
2/27/97 100 14.750
2/28/97 1,800 14.750
3/3/97 2,000 14.750
3/4/97 2,200 14.750
3/5/97 300 14.750
3/7/97 2,800 14.750
3/11/97 700 15.000
3/13/97 1,700 15.000
3/14/97 400 15.000
3/17/97 600 15.000
3/18/97 1,600 15.000
3/19/97 1,000 15.000
3/24/97 4,000 14.750
3/25/97 1,700 14.750
3/26/97 2,200 14.625
3/27/97 2,800 14.625
3/31/97 1,400 14.625
4/1/97 1,100 14.625
4/2/97 3,600 14.625
</TABLE>
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On February 20, 1997, Vaughn O Vennerberg II sold 500 Units on the open
market at $15.00 per Unit. On March 3, 1997, Mr. Vennerberg sold 500 Units
on the open market at $14.75 per Unit. On March 31, 1997, Louis G. Baldwin
sold 10,000 Units on the open market at $14.50 per Unit.
To the best of Cross Timbers' and Mr. Simpson's knowledge, no other persons
listed in Schedule I of the Schedule 13D have effected any Unit transactions
since February 12, 1997 and through April 3, 1997.
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