Enduro Royalty Trust Announces Monthly Cash Distribution

AUSTIN, Texas–(BUSINESS WIRE)–Enduro Royalty Trust (NYSE: NDRO) (the “Trust”) today announced a cash
distribution to the holders of its units of beneficial interest of
$0.015040 per unit, payable on July 17, 2017 to unitholders of record on
June 30, 2017. The distribution primarily represents oil production
during the month of March 2017 and natural gas production during
February 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.

Oil cash receipts for the properties underlying the Trust totaled $3.0
million for the current month, an increase of $0.1 million from the
prior month calculation as a result of three additional days of
production in March compared to February, offset by a decline in the
average price received per Bbl as a result of a corresponding decrease
in the average NYMEX price of oil for the period. Natural gas cash
receipts decreased from $1.1 million in the prior distribution period to
$0.9 million in the current month primarily due to a decrease of 14
percent in the realized wellhead price as compared to the prior month.
The decrease in realized wellhead price was driven by decreases in
futures pricing for February, which is the basis upon which a
significant portion of the East Texas / North Louisiana gas volumes are
sold. In addition, there were three fewer days of production in February
as compared to January.

Total direct operating expenses, including lease operating expenses,
production and ad valorem taxes, and gathering and transportation
expenses, increased $0.3 million to $2.7 million. The increase in direct
operating expenses is primarily due to higher than normal lease
operating expenses for operations in the New Mexico Permian area.
Capital expenditures decreased $0.1 million from the previous period’s
$0.5 million. Total direct operating expenses and capital expenditures
relate to expenses incurred during April 2017.

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 www.enduroroyaltytrust.com.

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 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 at http://www.sec.gov.

Contacts

Enduro Royalty Trust
The Bank of New York Mellon Trust Company,
N.A., as Trustee
Sarah Newell, 1 512-236-6555