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Brigham Minerals, Inc. (NYSE: MNRL) announced that stockholders overwhelmingly approved the merger with Sitio Royalties Corp. The merger is set to close on December 29, 2022, with over 81.2% of shares represented and 99.7% voting in favor. Shareholders will receive shares of New Sitio in exchange for their Brigham stock. Post-closure, Brigham's Class A stock will no longer trade on the NYSE, and several former board members will join the New Sitio board. This merger aims to enhance competitiveness and expand asset management in lucrative resource basins.
Brigham Minerals announced record operational and financial results for Q3 2022, highlighting daily production of 15,000 Boe/d, a 15% sequential increase from Q2 2022. The company saw royalty revenues of $92.8 million, up 3% despite a 12% drop in realized prices. Net income was reported at $44.4 million, with adjusted EBITDA reaching $82.1 million, an increase of 3%. A quarterly dividend of $0.81 per share was declared, with a payout ratio of 75% of discretionary cash flow. The announcement also included details of a pending merger with Sitio Royalties expected to close in Q1 2023.
Brigham Minerals, Inc. (NYSE: MNRL) has announced it will release its third quarter 2022 operating and financial results on November 3, 2022, after market close. The company, which specializes in acquiring and managing mineral and royalty interests, is positioned in key U.S. resource basins including the Permian Basin and SCOOP and STACK plays in Oklahoma. Notably, due to the pending merger, no conference call will be held following this announcement.
Sitio Royalties Corp. (NYSE: STR) and Brigham Minerals, Inc. (NYSE: MNRL) have agreed to merge in an all-stock transaction valued at approximately $4.8 billion. This merger aims to create a leading entity in the mineral and royalty sector with significant assets in the Permian Basin and other U.S. oil areas. The combined company will have 259,510 net royalty acres and projected annual cost synergies of $15 million. Shareholders will receive 54% and 46% ownership, respectively. The merger is expected to close in Q1 2023, pending regulatory approval and shareholder votes.
Brigham Minerals, Inc. (NYSE: MNRL) has announced a definitive purchase agreement to acquire mineral and royalty interests in the Midland Basin from Avant Natural Resources for approximately
Brigham Minerals (NYSE: MNRL) reported record operational and financial results for Q2 2022. Key highlights include:
- Daily production of 13,019 Boe/d, up 8% quarter-over-quarter, with 72% liquids and 52% oil.
- Royalty revenues of $90.4 million, a 29% increase from Q1 2022.
- Net income of $50.2 million, up 28% quarter-over-quarter.
- Record Adjusted EBITDA of $79.7 million, representing a 31% sequential increase.
- Quarterly dividend declared at $0.77 per share, marking a 28% increase from Q1 2022.
Brigham Minerals (NYSE: MNRL) plans to announce its second quarter 2022 operating and financial results after market close on August 4, 2022. A conference call to discuss these results is set for August 5, 2022, at 9:00 a.m. ET. The call will provide insights into the company's performance, which is focused on acquiring and managing mineral and royalty interests in key U.S. resource basins, including the Permian and Williston Basins. Investors can listen to the live audio webcast on the company's website.
Brigham Minerals (NYSE: MNRL) reported record operational and financial results for Q1 2022, achieving daily production of 12,031 Boe/d, a 31% increase sequentially. The company recorded royalty revenues of $70.0 million, up 49%, and net income of $39.1 million, reflecting an 80% increase from Q4 2021. Adjusted EBITDA rose 53% to $60.7 million. A Q1 2022 dividend of $0.60 per share was declared, with a payout ratio of 75%. The company remains financially strong with a cash balance of $6.2 million and undrawn revolver capacity of $137.0 million.
Brigham Minerals, Inc. (NYSE: MNRL) will announce its first quarter 2022 operating and financial results after market close on
Brigham Minerals (MNRL) reported record operational and financial results for Q4 and full year 2021. Daily production averaged 9,170 Boe/d, royalty revenues reached $47 million, a 16% sequential increase, and net income stood at $21.7 million. The company declared a quarterly dividend of $0.45 per share, with a projected 14% increase in the base dividend for 2022. Acquisitions totaled $135 million since Q4 2021, bolstering production and cash flow. Full-year production guidance for 2022 is between 11,300 and 12,000 Boe/d, indicating over 25% year-over-year growth.
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