Market Overview

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
$0.016359 per unit, payable on January 16, 2018 to unitholders of record
on December 29, 2017. The distribution primarily represents oil
production during the month of September 2017 and natural gas production
during August 2017.

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 59,411     1,980 308,694     9,958 $ 46.84 $ 2.88
Prior Month 60,715 1,959 275,510 8,887 $ 44.26 $ 2.88

Oil cash receipts for the properties underlying the Trust totaled $2.8
million for the current month, an increase of $0.1 million from the
prior month calculation as a result of an increase in the realized
wellhead price, partially offset by a decline in production volumes. The
increase in realized prices was due to a three percent increase in NYMEX
pricing from August to September and a tightened differential due to
payment timing differences. Although oil sales volumes increased from
the prior period on a daily basis, total oil sales volumes declined as a
result of one less day of production in September compared to August.

Natural gas cash receipts increased from $0.8 million in the prior
distribution period to $0.9 million in the current month due to
increases in natural gas volumes. Natural gas volumes increased due to
payment timing variances.

Total direct operating expenses, including lease operating expenses,
production and ad valorem taxes, and gathering and transportation
expenses, declined $0.1 million to $2.4 million. Capital expenditures
increased the net profits attributable to the underlying properties by
$21,000 due to actual capital expenditures in prior months being lower
than anticipated, resulting in capital adjustments during the current
period that increased net profits. Total direct operating expenses and
capital expenditures relate to expenses incurred in October 2017.

Due to capital expenditures incurred in the prior two distribution
periods, there was a cumulative net profits deficit of $526,709 (or
$421,367 net to the Trust's 80% net profits interest), reflecting
amounts owed to Enduro Resource Partners, the sponsor of the Trust, that
was deducted in calculating the net profits interest to the Trust in the
current period. Prior to deduction of the cumulative net profits
deficit, the net profits attributable to the underlying properties for
the current period distribution calculation were $1,264,002 (or
$1,011,202 net to the Trust's 80% net profits interest). Prior to
deduction of general and administrative expenses, this would have
represented net profits attributable to the Trust's interest of
approximately $0.03 per unit.

The prior month net profits interest calculation included $1.5 million
in total capital expenditures, of which approximately $1.1 million
related to four gross (0.45 net) wells drilled in the Haynesville.
Through October 2017, capital expenditures incurred for the Haynesville
wells have totaled $3.4 million. Enduro anticipates natural gas sales
from these new wells to be included in distributions beginning in early

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

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, expected expenses, including capital expenditures, and
the anticipated timing of natural gas sales from the recently drilled
wells in the Haynesville. 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, 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

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