Welcome to our dedicated page for Sitio Royalties news (Ticker: STR), a resource for investors and traders seeking the latest updates and insights on Sitio Royalties stock.
Sitio Royalties Corp. reports developments tied to its oil and gas royalty business, including royalty revenue, production volumes, net wells turned-in-line, cash costs and taxes, and acquisition activity across its mineral and royalty asset base.
Company news also covers quarterly operating previews, earnings releases, guidance updates, dividends and share repurchases, material agreements, shareholder voting matters, and capital-structure changes affecting STR Class A common stock.
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.
Sitio Royalties Corp. (NYSE: STR) reported strong operational and financial results for Q2 2022, achieving an average daily production of 12,402 Boe/d, a 9% increase from Q1. The net income soared to $72 million, reflecting an 87% sequential growth. Adjusted EBITDA increased by 29% to $76.7 million. The company declared a dividend of $0.71 per Class A share, with a yield of 10.3%. Sitio enhanced its asset footprint by 65%, reaching 173,800 net royalty acres after closing mergers and acquisitions, including Falcon Minerals.
Sitio Royalties Corp. (NYSE: STR) has finalized its acquisition of over 12,200 net royalty acres in the Permian Basin from Momentum Minerals. The $191 million transaction follows a $22 million deposit made in June 2022. Funding for the acquisition was sourced from a $175 million draw on Sitio's 364-day unsecured term loan, alongside borrowings from its revolving credit facility and available cash. Post-acquisition, Sitio has a total of $425 million drawn on its term loan, continuing its strategy of consolidating oil and gas mineral interests to enhance shareholder returns.
Sitio Royalties Corp. (NYSE: STR) will report its Q2 2022 operating and financial results on August 8, 2022, after market close. A conference call is scheduled for August 9, 2022, at 8:30 a.m. ET, to discuss the results. Participants can join via phone or webcast. Sitio focuses on consolidating high-quality oil and gas mineral and royalty interests, having amassed over 173,000 net royalty acres through over 180 acquisitions. Their operations aim to generate cash flow for shareholder returns and reinvestment.
Tachus Fiber Internet has announced executive leadership changes, appointing Matthew B. Ockwood as President and A. Cole Pate as Chief Operating Officer, effective June 27. These changes align with their strategy to expand Gigabit-capable fiber internet service into the Dallas-Fort Worth area starting in 2022. Ockwood previously served as CFO of Sitio Royalties and brings extensive experience from Chambers Energy Capital, while Pate has a strong background in strategic project development. The company also announced the departure of Chief Strategy Officer Carter Old.
Sitio Royalties Corp. (NYSE: STR) announced significant acquisitions totaling over 31,900 net royalty acres in the Permian Basin for approximately $547 million. The company acquired 19,700 NRAs from Foundation Minerals for $323 million and entered a definitive agreement for 12,200 NRAs from Momentum Minerals for $224 million. These acquisitions are projected to enhance cash flow per share by 15% and dividends by 15% in the second half of 2022. Sitio’s total NRAs now stand at 173,700.
Sitio Royalties Corp. (NASDAQ: STR) is formed from the merger of Desert Peak Minerals and Falcon Minerals Corporation, positioning itself as a major consolidator of high-quality oil and gas mineral interests. The merger reflects a commitment to shareholder returns through strategic, large-scale acquisitions. With $300 million in new credit facilities and a focus on maximizing value, Sitio expects to significantly enhance shareholder cash returns. The company is transitioning its stock listing to the New York Stock Exchange on June 14, 2022, retaining the ticker symbol ‘STR’.