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Enduro Royalty Trust prices IPO at $22, below the range

November 2, 2011

Enduro Royalty Trust, a trust formed by Enduro Resource Partners to own royalty interests in producing and developmental wells in the Permian Basin of West Texas/New Mexico and the Haynesville Shale of East Texas/North Louisiana, raised $290 million by offering 13.2 million shares at $22, below the range of $23 to $25. Enduro Royalty Trust plans to list on the NYSE under the symbol NDRO. Barclays Capital, Citi, Goldman Sachs, RBC Capital Markets and Wells Fargo acted as lead managers on the deal.