Enduro Royalty Trust Announces Monthly Cash Distribution

Enduro Royalty Trust (NYSE: NDRO) (the “Trust”) today announced a cash
distribution to the holders of its units of beneficial interest of
$0.036205 per unit, payable on February 14, 2017 to unitholders of
record on January 31, 2017. The distribution primarily represents oil
production during the month of October 2016 and natural gas production
during September 2016.

The following table displays underlying oil and natural gas sales
volumes and average received wellhead prices attributable to the current
and prior month net profits interest calculations.

		Underlying Sales Volumes								Average Price
		Oil				Natural Gas				Oil			Natural Gas
		Bbls		Bbls/D		Mcf		Mcf/D		(per Bbl)			(per Mcf)
Current Month		63,737		2,056		261,379		8,713		$	45.04		$	2.63
Prior Month		61,130		2,038		257,711		8,313		$	41.10		$	2.41

Oil cash receipts for the properties underlying the Trust totaled $2.9
million for the current month, an increase of $0.4 million from the
prior month calculation. The increase was primarily due to a $3.94 per
Bbl increase in the realized wellhead price. Volume increases are
primarily due to an additional day of production in October compared to
September. Natural gas cash receipts increased from $0.6 million in the
prior distribution period to $0.7 million in the current month,
primarily due to a 9.1% increase in the realized wellhead price. The
natural gas realized price increase was primarily driven by an increase
of $0.17 per Mcf in NYMEX prices from the prior period. Natural gas
volumes continue to be lower than prior months due to payment timing
delays. As previously disclosed, one of the operators in the East
Texas-North Louisiana area sold its properties, resulting in payment
delays that impacted the prior month distribution and continue to impact
the current month. Natural gas receipts were approximately $190,000
lower in the current period as a result of these delays, and natural gas
sales volumes associated with this revenue were approximately 73,000
Mcf. Enduro Resource Partners, the sponsor of the Trust (“Enduro”),
anticipates the revenue and volumes from this operator to be included in
the February 2017 distribution.

Total direct operating expenses, including lease operating expenses,
production and ad valorem taxes, and gathering and transportation
expenses, decreased $0.6 million to $2.0 million as a result of lower
than anticipated lease operating expenses in prior months. Actual
capital expenditures incurred have continued to be less than projected,
resulting in a capital expenditure adjustment during the current month
calculation that increased net profits negligibly. Total direct
operating expenses and capital expenditures relate to expenses incurred
during November 2016.

About Enduro Royalty Trust

Enduro Royalty Trust is a Delaware statutory trust formed by Enduro
Resource Partners to own a net profits interest representing the right
to receive 80% of the net profits from the sale of oil and natural gas
production from certain of Enduro Resource Partners’ properties in the
states of Texas, Louisiana and New Mexico. As described in the Trust’s
filings with the Securities and Exchange Commission, the amount of the
periodic distributions is expected to fluctuate, depending on the
proceeds received by the Trust as a result of actual production volumes,
oil and gas prices, the amount and timing of capital expenditures, and
the Trust’s administrative expenses, among other factors. Future
distributions are expected to be made on a monthly basis. For additional
information on the Trust, please visit www.enduroroyaltytrust.com.

Forward-Looking Statements and Cautionary Statements

This press release contains statements that are “forward-looking
statements” within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended. All statements contained in this press release,
other than statements of historical facts, are “forward-looking
statements” for purposes of these provisions. These forward-looking
statements include the amount and date of any anticipated distribution
to unitholders and expected expenses, including capital expenditures.
The anticipated distribution is based, in large part, on the amount of
cash received or expected to be received by the Trust from Enduro
Resource Partners with respect to the relevant period. The amount of
such cash received or expected to be received by the Trust (and its
ability to pay distributions) has been and will be significantly and
negatively affected by prevailing low commodity prices, which have
declined significantly, could decline further and could remain low for
an extended period of time. Other important factors that could cause
actual results to differ materially include expenses of the Trust and
reserves for anticipated future expenses. Statements made in this press
release are qualified by the cautionary statements made in this press
release. Neither Enduro Resource Partners nor the Trustee intends, and
neither assumes any obligation, to update any of the statements included
in this press release. An investment in units issued by Enduro Royalty
Trust is subject to the risks described in the Trust’s filings with the
SEC, including the risks described in the Trust’s Annual Report on Form
10-K for the year ended December 31, 2015, filed with the SEC on March
11, 2016. The Trust’s quarterly and other filed reports are or will be
available over the Internet at the SEC’s website at http://www.sec.gov.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170120005052/en/

Source: Business Wire
(January 20, 2017 - 9:15 AM EST)

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