Enduro Royalty Trust Announces Monthly Net Profits Interest Calculation

Enduro Royalty Trust (NYSE: NDRO) (the “Trust”) today announced the net profits interest calculation for November 2017. The net profits interest calculation primarily represents oil production during August 2017, natural gas production during July 2017, and costs incurred in September 2017.

As previously disclosed, in early September, four gross (0.45 net) wells were completed in the Haynesville and began producing at a combined 24-hour gross rate of over 73 MMcf/D. The combined average first 60-day production from the wells was 55.1 MMcf/D, or approximately 6.2 MMcf/D net to the 11.4% working interest owned by Enduro Resource Partners LLC (“Enduro”), the sponsor of the Trust. This 60-day average is consistent with the first 30-day combined average from the wells, but Enduro expects the wells to begin natural production declines typical for the area in the near future. Due to capital expenditures incurred completing these Haynesville wells during September 2017, direct operating and development expenses for the current month net profits interest calculation exceeded cash receipts and, as a result, no distribution will be paid to the Trust’s unitholders in December 2017. In the Elm Grove area where the wells were drilled, Enduro owns a total of 1,737 net acres.

The following table displays underlying oil and natural gas sales volumes and average 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			60,715			1,959			275,510			8,887			$	44.26			$	2.88
Prior Month			60,677			1,957			292,494			9,750			$	43.60			$	2.77

As the Haynesville wells began producing in early September 2017 and the natural gas sales volumes reported above primarily represent sales volumes in July 2017, none of the results from these wells are included in sales volumes or natural gas receipts. Enduro anticipates natural gas sales from these new wells to be included in distributions beginning in early 2018.