Capital expenditures for the properties underlying the Trust during the period were approximately $3.3 million. Capital relates to incurred expenses during December 2012, primarily for two Permian oil wells being drilled in the Lost Tank field in southeastern New Mexico. Enduro owns a 50% working interest in the field and expects capital expenditures related to these two wells to total approximately $7.3 million, of which $2.9 million was included in the current month's capital and $3.5 million is expected to be included in next month's capital expenditures. The wells were spud in December 2012 and are expected to begin producing in February 2013.Total capital incurred during 2012 for the underlying properties was approximately $15.8 million. In 2013, Enduro Resource Partners, the sponsor of the Trust, expects capital to range from $22 - $24 million, focused on projects in the Permian Basin. These projects are anticipated to grow oil production during the year. For further information on the 2013 capital program and projects, Enduro has prepared a presentation which will be posted on the Trust’s website today.
Enduro Royalty Trust Announces Monthly Cash Distribution
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