Sitio Royalties Corp. announced its third-quarter 2024 operational and financial results, reporting a net income of $12.6 million and earnings per share of $0.15. The company achieved an average daily production of 38.6 MBoe/d, with oil comprising 50% of this volume, demonstrating robust operational output.
The company's Adjusted EBITDA reached $135 million, with Discretionary Cash Flow at $110 million, reflecting an efficient conversion of revenue to earnings with approximately a 91% Adjusted EBITDA margin. Sitio also successfully closed five acquisitions totaling $21.5 million, adding 2,325 net royalty acres in the DJ Basin, which are expected to contribute to future growth.
Sitio Royalties reduced its long-term debt by $56.5 million, increasing its liquidity to $455.5 million. Furthermore, the company raised the midpoint of its full-year 2024 production guidance by 1,000 Boe/d, signaling confidence in its continued operational strength and asset performance.
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