Source Rock Royalties Ltd. (SRR.V) Q4 Results - Apr 22
Posted: Mon Apr 22, 2024 11:08 am
This is a micro-cap minerals/royalty company that has been recommended by the same EPG member that brought Hemisphere Energy and InPlay Oil to my attention. I hope to schedule the Founder and CEO, Brad Docherty on a webinar with me soon. Note that the company already pays dividends.
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CALGARY, AB, April 22, 2024 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil focused royalties, announces results for the three-month period and year ended December 31, 2023.
Annual Highlights:
Record annual royalty revenue of $6,646,3261, an increase of 2% over 2022.
Record annual funds from operations of $5,653,618 ($0.126 per share), an increase of 10% over 2022.
Record annual Adjusted EBITDA of $5,793,204 ($0.129 per share), an increase of 1% over 2022.
Record annual royalty production of 2084 boe/d (93% oil and NGLs), an increase of 25% over 2022.
Declared $2,968,990 in dividends ($0.066 per share), resulting in a payout ratio of 53%.
Achieved an operating netback of $76.30 per boe and a corporate netback3 of $74.47.
Completed $13.23 million of royalty acquisitions in central Alberta and S.E. Saskatchewan.
26 gross horizontal wells drilled on royalty lands in S.E. Saskatchewan (24) and central Alberta (2).
Fourth Quarter Highlights:
Quarterly royalty revenue of $1,720,2641, an increase of 14% over Q4 2022.
Record quarterly funds from operations of $1,663,376 ($0.037 per share), an increase of 18% over Q4 2022.
Quarterly Adjusted EBITDA of $1,525,386 ($0.034 per share), an increase of 9% over Q4 2022.
Quarterly royalty production averaged 2184 boe/d (94% oil and NGLs), an increase of 29% over Q4 2022.
Declared three monthly dividends of $0.006 per share, resulting in a payout ratio of 49%.
Achieved an operating netback of $76.06 per boe and a corporate netback3 of $82.94 per boe.
Completed an $8 million royalty acquisition in the central Alberta Clearwater heavy oil fairway.
Read more: https://www.newswire.ca/news-releases/source-rock-royalties-announces-2023-results-including-record-annual-amp-quarterly-funds-from-operations-809344206.html
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CALGARY, AB, April 22, 2024 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil focused royalties, announces results for the three-month period and year ended December 31, 2023.
Annual Highlights:
Record annual royalty revenue of $6,646,3261, an increase of 2% over 2022.
Record annual funds from operations of $5,653,618 ($0.126 per share), an increase of 10% over 2022.
Record annual Adjusted EBITDA of $5,793,204 ($0.129 per share), an increase of 1% over 2022.
Record annual royalty production of 2084 boe/d (93% oil and NGLs), an increase of 25% over 2022.
Declared $2,968,990 in dividends ($0.066 per share), resulting in a payout ratio of 53%.
Achieved an operating netback of $76.30 per boe and a corporate netback3 of $74.47.
Completed $13.23 million of royalty acquisitions in central Alberta and S.E. Saskatchewan.
26 gross horizontal wells drilled on royalty lands in S.E. Saskatchewan (24) and central Alberta (2).
Fourth Quarter Highlights:
Quarterly royalty revenue of $1,720,2641, an increase of 14% over Q4 2022.
Record quarterly funds from operations of $1,663,376 ($0.037 per share), an increase of 18% over Q4 2022.
Quarterly Adjusted EBITDA of $1,525,386 ($0.034 per share), an increase of 9% over Q4 2022.
Quarterly royalty production averaged 2184 boe/d (94% oil and NGLs), an increase of 29% over Q4 2022.
Declared three monthly dividends of $0.006 per share, resulting in a payout ratio of 49%.
Achieved an operating netback of $76.06 per boe and a corporate netback3 of $82.94 per boe.
Completed an $8 million royalty acquisition in the central Alberta Clearwater heavy oil fairway.
Read more: https://www.newswire.ca/news-releases/source-rock-royalties-announces-2023-results-including-record-annual-amp-quarterly-funds-from-operations-809344206.html