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BRIEF-Enduro Royalty Trust announces sponsor's entry into agreements to sell properties in Permian Basin
June 7, 2017 / 1:32 PM / 5 months ago

BRIEF-Enduro Royalty Trust announces sponsor's entry into agreements to sell properties in Permian Basin

June 7 (Reuters) - Enduro Royalty Trust:

* Enduro Royalty Trust announces sponsor’s entry into agreements to sell properties in the Permian Basin

* Enduro Royalty Trust - total purchase price, subject to ordinary closing adjustments, is $50.4 million

* Enduro Royalty Trust - Enduro has entered into eight separate purchase and sale agreements to divest certain acreage and associated production in Permian Basin

* Enduro Royalty Trust - will seek, through a vote of co’s unitholders, a release of co’s net profits interest in divestiture properties

* Enduro Royalty Trust -will seek release of co’s net profits interest in exchange for unitholders receiving 80% of net proceeds of sale of properties

* Enduro Royalty Trust - anticipates net proceeds to co’s unitholders of about $40 million, which is net of anticipated expenses to be incurred Source text for Eikon: Further company coverage:

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