Source Rock Royalties Ltd., a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties in Saskatchewan and Alberta, announces financial results for the three and nine months ended September 30, 2022.
Third Quarter Highlights:
Quarterly royalty revenue of $1,554,910, an increase of 34% compared to Q3 2021.
Quarterly Adjusted EBITDA1 of $1,219,346 ($0.027 per share), an increase of 21% compared to Q3 2021.
Quarterly funds from operations1 of $1,115,225 ($0.025 per share), an increase of 11% compared to Q3 2021.
Quarterly royalty production averaged 160 boe/d (92% oil and NGLs), a decrease of 6% compared to Q3 2021.
Paid a quarterly dividend of $0.015 per share, resulting in a payout ratio1 of 60%.
Achieved an operating netback1 of $82.84 per boe and a corporate netback1 of $75.76 per boe.
Ended Q3 2022 with a cash balance of $16,283,684 ($0.36 per share), an increase of 5% from June 30, 2022.
