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
$0.043769 per unit, payable on September 17, 2018 to unitholders of
record on August 31, 2018. The distribution primarily represents oil
production during the month of May 2018 and natural gas production
during April 2018.

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 58,110 1,875 400,200 13,340 $ 62.82 $ 2.58
Prior Month 55,566 1,852 394,953 12,740 $ 62.81 $ 2.50

Oil cash receipts for the properties underlying the Trust totaled $3.7
million for the current month, an increase of $0.2 million from the
prior month distribution period due to an increase in volumes. In
addition to one more day of production in May compared to April, payment
timing differences caused volume fluctuations.

Natural gas cash receipts increased slightly from the prior distribution
period to $1.0 million in the current month primarily due to a three
percent increase in the realized wellhead price as compared to the prior
month. Natural gas sales volumes increased due to payment timing
differences associated with operators in the Permian Basin.

Total direct operating expenses, including lease operating expenses,
production and ad valorem taxes, and gathering and transportation
expenses, were $2.5 million, consistent with the prior month. Capital
expenditures were $0.2 million in the current month. Total direct
operating expenses and capital expenditures relate to expenses incurred
in June 2018.

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 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,
reserves for anticipated future expenses and the outcome of the
bankruptcy proceedings involving Enduro Resource Partners, including the
expected sale contemplated by the Purchase and Sale Agreement between
Enduro Resource Partners and COERT Holdings I LLC for the properties
underlying the Trust and all of the outstanding Trust units owned by
Enduro Resource Partners. The Trust has not filed a Chapter 11 petition
and expects to continue in the normal course without disruption to the
unitholders. 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, 2017, filed with the SEC on March 12,
2018. 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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