Sector: Consumer Cyclicals | Industry: Entertainment Production |
Company Contact | |
Address: | 30th Floor, 421 - 7th Ave S.W., CALGARY AB T2P 4K9 |
Tel: | N/A |
Website: | https://www.sourcerockroyalties.com |
IR: | See website |
Key People | ||
Brad Robert Docherty Chairman of the Board, President, Chief Executive Officer | Cheryne Lowe Chief Financial Officer |
Business Overview |
Source Rock Royalties Ltd is a Canada-based oil and gas royalty company with a portfolio of oil royalties in southeast Saskatchewan, central Alberta and west-central Saskatchewan. It owns varying royalties in lands that are primarily producing and prospective for light oil. The primary business of the Company is to receive royalty revenue from oil and natural gas properties as reserves are produced by the operators over the economic life of the properties. The Company is focused on acquiring and managing oil and gas royalties and mineral title interests. It also focuses on acquiring royalties in properties that have foreseeable future drilling potential and which are operated by third parties. It owns mineral interests in two quarter sections of land and a 2% gross overriding royalty (GORR) in approximately 5,800 gross acres of land in southeast Saskatchewan. |
Financial Overview |
For the nine months ended 30 September 2023, Source Rock Royalties Ltd revenues decreased 1% to C$4.9M. Net income decreased 41% to C$1.2M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Depletion increase of 46% to C$2.3M (expense), Share-based compensation increase from C$222K to C$574K (expense), Administrative expenses increase of 1% to C$658K (expense). |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $26.20M as of Dec 31, 2023 |
Annual revenue (TTM): | $6.43M as of Dec 31, 2023 |
EBITDA (TTM): | $4.92M as of Dec 31, 2023 |
Net annual income (TTM): | $1.74M as of Dec 31, 2023 |
Free cash flow (TTM): | -$7.81M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 45,231,645 as of Dec 19, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |