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Monday, November 7, 2022

MNRL: Laser-Focused On Dividends -- 3Q22

WTI: just turned green, 8:31 a.m. CT -- Novembe7, 2022

Earnings today (forecast):

  • BioNTech ($3.66), last year's EPS - $14.56;
  • FANG ($6.51)

MNRL: increased dividend? 3Q22 --

  • record daily production, including a 19% increase in Permian Basin volumes
    • 10.8 net activity wells
    • 6.7 net DUCs
    • 4.1 net permits
    • 1.9 net DUCs converted to PDP during 3Q22
    • 207 gross wells spud during 3Q22; 1.7 net locations
    • acquired 365 net royalty acres; deployed $12.2 million in mineral acquisition capital;
  • record royalty revenues of $92.8 million
  • net income totaling $44.4 million
  • dividend:
    • base dividend of 16 cents / share
    • variable dividend increased 7% sequentially to 65 cents per share
  • 75% payout ratio

EOG - Utica, link here

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