Permianville Royalty Trust Announces Monthly Cash Distribution

Permianville Royalty Trust (NYSE: PVL) (the “Trust”), formerly known as Enduro Royalty Trust, today announced a cash distribution to the holders of its units of beneficial interest of $0.007100 per unit, payable on November 15, 2018 to unitholders of record on October 31, 2018. The distribution primarily represents reported oil production during the month of July 2018 and a portion of reported natural gas production during June 2018 as discussed below.

As previously announced, Enduro Resource Partners LLC sold its interests in the oil and gas properties underlying the Trust (the “Underlying Properties”) to COERT Holdings 1 LLC (the “Sponsor”). As part of the normal course procedures following the closing of the transaction, certain operators of the Underlying Properties have not yet completed the transition of their production reporting to the Sponsor for its non-operated interests in the Underlying Properties. Accordingly, the table summarizing the Underlying Properties’ oil and natural gas sales volumes and average received wellhead prices typically presented in the Trust’s monthly distribution announcement is not included in this press release, as the data for the current month would not be comparable to prior months. The Trust intends to continue to report the monthly sales volumes and average received wellhead prices table once reporting from the operators of the Underlying Properties has been fully transitioned and reconciled for comparable purposes. The Sponsor has confirmed that the reporting transition has not affected the payments associated with the Underlying Properties in which the Trust has an interest.

Recorded oil cash receipts for the properties underlying the Trust totaled $3.1 million for the current month, a decrease of $0.1 million from the prior month distribution period.

Recorded natural gas cash receipts decreased from the prior distribution period to $0.5 million in the current month. This difference is primarily associated with the transition for the production reporting as discussed above. Approximately $0.6 million of natural gas cash sales was received subsequent to month end and will be reflected in next month’s distribution.

Total direct operating expenses accrued for, including lease operating expenses, production and ad valorem taxes, and gathering and transportation expenses, were $2.8 million, an increase of $0.5 million from the prior month. Capital expenditures were $0.4 million in the current month, an increase of $0.1 million from the prior month, as the Trust’s activity on the previously disclosed non-operated Wolfcamp Permian wells increased during the current month. Total direct operating expenses and capital expenditures relate to expenses incurred in August 2018.