Enduro Royalty Trust Announces Monthly Cash Distribution
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
(Bbls) |
Natural Gas
(Mcf) |
Oil
(per Bbl) |
Natural Gas
(per Mcf) |
|||||||
Current Month | 71,817 | 410,951 | $ | 95.80 | $ | 4.69 | ||||
Prior Month | 71,572 | 433,786 | $ | 96.61 | $ | 4.71 | ||||
Oil cash receipts were consistent with the prior month and totaled
Capital expenditures included in the current month distribution totaled
Monthly Net Profits Interest Calculation
The following displays the net profits interest calculation for the current month:
Gross profits: | ||||
Oil cash receipts | $ | 6,880,172 | ||
Natural gas cash receipts | 1,926,862 | |||
Total | 8,807,034 | |||
Costs: | ||||
Direct operating expenses: | ||||
Lease operating expenses | 3,214,000 | |||
Compression, gathering and transportation | 228,000 | |||
Production, ad valorem and other taxes | 545,000 | |||
Development expenses | 1,443,000 | |||
Total | 5,430,000 | |||
Net profits attributable to underlying properties | 3,377,034 | |||
Percentage allocable to net profits interest |
80 | % | ||
Net profits from net profits interest |
2,701,627 | |||
Net profits shortfall from prior month | (509,006 | ) | ||
Net profits to Trust from net profits interest | $ | 2,192,621 | ||
Trust general and administrative expenses and cash withheld for expenses | (59,996 | ) | ||
Distributable income to unitholders | $ | 2,132,625 | ||
As shown above, the distribution reflects the deduction of the net profits shortfall from the prior month.
Wolfcamp Production Results and Activity Update
In October, three additional Wolfcamp wells have been completed and are
currently producing. The Rocker B 52H, Rocker B 53H, and Rocker B 54H
are currently producing; however, rates are not currently available. Of
the 20 gross well proposals received from
The following table displays the 24-hour peak gross flowback rate and 30-day IP rate for those wells for which 30-day rates have not yet been reported:
Well Name |
First Production Date |
24-Hour IP Rate
(BOE/D) |
30-Day IP Rate
(BOE/D) |
|||
Rocker B 44H | 8/13/2014 | 898 | 564 | |||
Rocker B 71H | 8/11/2014 | 804 | 617 | |||
Rocker B 72H | 8/5/2014 | 1,205 | 921 | |||
The following table displays the current status of the Wolfcamp wells in progress and Enduro’s working interest percentage:
Well Name |
Current Status |
County & State |
Enduro
Working Interest |
||||
Rocker B 51H | Completing | Irion, TX | 12.50 | % | |||
Rocker B 60H | Drilling | Irion, TX | 12.50 | % | |||
Rocker B 61H | Waiting on Completion | Irion, TX | 12.50 | % | |||
Rocker B 62H | Waiting on Completion | Irion, TX | 12.50 | % | |||
About
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. The anticipated distribution is based, in part, on the
amount of cash received or expected to be received by the Trust from
Source:
Enduro Royalty Trust
The Bank of New York Mellon Trust Company,
N.A., as Trustee
Sarah Newell, 1-512-236-6555