UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 18, 2011
Enduro Royalty Trust
(Exact name of registrant as specified in its charter)
| Texas | 1-35333 | 45-6259461 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| The Bank of New York Mellon Trust Company, N.A., Trustee Global Corporate Trust 919 Congress Avenue Austin, Texas |
78701 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (800) 852-1422
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02 Results of Operations and Financial Condition.
On November 18, 2011, Enduro Royalty Trust issued a press release announcing Enduro Royalty Trust’s royalty income, income distribution for the month of November 2011. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
Pursuant to General Instruction B.2 of Form 8-K and Securities and Exchange Commission Release No. 33-8176, the press release attached as Exhibit 99.1 is not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, but is instead furnished for purposes of that instruction.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
| Exhibit 99.1 | Enduro Royalty Trust Press Release dated November 18, 2011. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Enduro Royalty Trust By: The Bank of New York Mellon Trust Company, N.A., as Trustee | ||
| By: | /s/ Mike Ulrich | |
| Mike Ulrich Vice President | ||
Date: November 18, 2011
EXHIBIT INDEX
| Exhibit |
Description | |
| 99.1 | Enduro Royalty Trust Press Release dated November 18, 2011. |
Exhibit 99.1
Enduro Royalty Trust
Enduro Royalty Trust Announces December Cash Distribution
Enduro Royalty Trust
The Bank of New York Mellon Trust Company, N.A., Trustee
News
Release
For Immediate Release
Austin, Texas November 18, 2011 – ENDURO ROYALTY TRUST (NYSE–NDRO) announced today a cash distribution to the holders of its units of beneficial interest of $0.314703 per unit, payable on December 14, 2011, to unitholders of record on November 30, 2011. The Trust’s first distribution relates to net profits generated during the calculation period from July 1, 2011 through September 30, 2011 as provided in the conveyance of net profits interest to the Trust. The distribution primarily represents oil and natural gas production during the months of June and July 2011 and only a portion of oil production related to August 2011, while expenses are included for the full three months in the calculation period.
The following table displays underlying oil and natural gas sales volumes and average prices attributable to the three-month period.
| Underlying Sales Volumes | Average Price | |||||||||||||||
| Oil (Bbls) |
Natural Gas (Mcf) |
Oil (per Bbl) |
Natural Gas (per Mcf) |
|||||||||||||
| Current Three-Month Calculation Period |
220,481 | 1,413,458 | $ | 89.39 | $ | 4.63 | ||||||||||
Capital expenditures included in the net profits calculation during the period were approximately $3.2 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 unit holders. 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 web site at http://www.sec.gov.
| Contact: | Enduro Royalty Trust |
The Bank of New York Mellon Trust Company, N.A., as Trustee
Mike Ulrich
1(800) 852-1422
919 Congress Avenue Austin, TX 78701