Market Overview

Enduro Royalty Trust Announces Haynesville Results and Monthly Net Profits Interest Calculation


Enduro Royalty Trust (NYSE:NDRO) (the "Trust") today announced results
from recently completed wells in the Haynesville area of north Louisiana
and reported the net profits interest calculation for October 2017.

Haynesville Results

In early September, four gross (0.45 net) wells completed in the
Haynesville (together, the "Haynesville wells") began producing at a
combined 24-hour gross rate of over 73 MMcf/D. Net to the interest of
Enduro Resource Partners LLC ("Enduro"), the sponsor of the Trust, the
combined 24-hour initial rate was approximately 8.4 MMcf/D. The combined
average 30-day production from the wells was 54.7 MMcf/D, or
approximately 6.2 MMcf/D net to Enduro's 11.4% working interest. The
30-day average results were over 25% higher than initial expectations
from the wells, and the 30-day production net to Enduro's interest
represents a 60% increase over the monthly natural gas production from
all the properties underlying the Trust.

Monthly Net Profits Interest Calculation

Due to capital activity for the Haynesville wells and increased lease
operating expenses during the month of August 2017, direct operating and
development expenses for the current month net profits interest
calculation exceeded cash receipts. The current month net profits
interest calculation primarily represents oil production during July
2017, natural gas production during June 2017, and costs incurred in
August 2017. 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 60,677 1,957 292,494   9,750 $ 43.60 $ 2.77
Prior Month 58,631 1,954 315,138 10,166 $ 42.40 $ 2.78

As the Haynesville wells began producing in early September 2017 and the
natural gas sales volumes reported above primarily represent sales
volumes in June 2017, none of the results from these wells are included
in sales volumes or natural gas receipts.

The following table displays the net profits interest calculation for
the current month and the resulting shortfall in net profits:

Gross profits:
Oil cash receipts $ 2,645,779
Natural gas cash receipts   810,893  
Total   3,456,672  
Direct operating expenses:
Lease operating expenses 2,218,000
Compression, gathering and transportation 191,000
Production, ad valorem and other taxes 280,000
Development expenses   783,000  
Total   3,472,000  
Net profits (shortfall) attributable to underlying properties (15,328 )
Percentage allocable to net profits interest   80 %
Net profits (shortfall) to Trust from net profits interest $ (12,262 )

As a result, no monthly cash distribution will be paid in November 2017
to the Trust's unitholders. The shortfall in net profits will be
deducted from any net profits in next month's net profits interest
calculation. At this time, Enduro anticipates that capital development
expenses in next month's distribution calculation will be approximately
$1.5 million, an increase from the current month, due to the remainder
of the capital associated with the Haynesville wells.

Oil cash receipts for the properties underlying the Trust totaled $2.6
million for the current month, an increase of $0.2 million from the
prior month calculation as a result of an increase in the realized
wellhead price as well as an increase in production volumes. The
increase in realized prices was driven by a $1.39 increase in NYMEX
pricing from June to July. Oil sales volumes increased as a result of
one additional production day in July as compared to June.

Natural gas receipts decreased $0.1 million from the prior month,
totaling $0.8 million, as a result of decreased sales volumes. Natural
gas sales volumes declined primarily due to one less production day in
June as compared to May.

Total direct operating expenses, including lease operating expenses,
production and ad valorem taxes, and gathering and transportation
expenses, totaled $2.7 million, an increase of $0.2 million from the
prior month as a result of increased lease operating expenses. Of the
total $0.8 million in capital expenditures during August 2017,
approximately $0.4 million related to the four gross (0.45 net) wells in
the Haynesville. Through August 2017, capital incurred for the
Haynesville wells has totaled $2.4 million.

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 and 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

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 statements regarding future distribution calculations
and expected expenses, including capital expenditures. Although no
distribution will be made in November 2017, normally 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. Initial production rates may not be
indicative of future production rates and are not indicative of the
amounts of oil and gas that a well may produce. 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, 2016, filed with the SEC on
March 15, 2017. The Trust's quarterly and other filed reports are or
will be available over the Internet at the SEC's website at

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