AUSTIN, Texas--(BUSINESS WIRE)--Sep. 18, 2012--
Enduro Royalty Trust (NYSE: NDRO) (the “Trust”) announced today a cash
distribution to the holders of its units of beneficial interest of
$0.142001 per unit, payable on October 15, 2012, to unitholders of
record on September 28, 2012. The distribution primarily represents oil
production during the month of June 2012 and natural gas production
during May 2012, and includes proceeds of approximately $1.5 million
related to the settlement of applicable hedge contracts.
The following table displays underlying oil and natural gas sales
volumes and average prices attributable to the current month and prior
month distributions.
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Underlying Sales Volumes
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Average Price
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Oil
(Bbls)
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Natural Gas
(Mcf)
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Oil
(per Bbl)
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Natural Gas
(per Mcf)
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Current Month
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77,410
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1,336,036
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$
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76.17
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$
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2.41
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Prior Month
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83,302
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762,632
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$
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87.80
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$
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2.53
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As oil and natural gas sales volumes reported to the Trust represent
volumes for which Enduro Resource Partners was paid during the
applicable month, reported volumes fluctuate due to the timing of cash
receipts from operators. The significant increase in natural gas
production reported above was partly due to approximately 13,500 Mcf/D
of natural gas volumes for prior periods that were paid to the Trust
during the calculation period.
Capital expenditures included in the net profits calculation during the
period were approximately $1.0 million.
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 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.
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. The anticipated distribution is based, in 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. Any
differences in actual cash receipts by the Trust could affect this
distributable amount. 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. 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.
Source: Enduro Royalty Trust
Enduro Royalty Trust
The Bank of New York Mellon Trust Company,
N.A., as Trustee
Mike Ulrich, 1-800-852-1422