Freehold Royalties Ltd T.FRU

Alternate Symbol(s): FRHLF

Freehold Royalties Ltd. is a Canada-based royalty company. The Company manages non-government portfolios of oil and natural gas royalties in Canada with an expanding land base in the United States. Its primary focus is to acquire and actively manage royalties, while providing a lower risk income vehicle for its shareholders. Its total land holdings encompass approximately 6.2 million gross acres in Canada. It has royalty interests in more than 19,000 producing wells and almost 400 units spanning five provinces and eight states and receives royalty income from over 360 industry operators throughout North America. It has two geographical segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada, and US includes petroleum and natural gas interests primarily held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins largely located in the states of Texas, Louisiana, and North Dakota.

TSX:FRU - Post by User

Freehold Royalties Ltd

Bullboard Posts

Post by energeeon Apr 01, 2020 12:51pm

264 Views

Post# 30868777

Took a Look

Net G&A ~ $1MM/month for 2019. G&A is prorated between FRU (48%) and Rife Resources a (private Co with the same management team).
Net debt reported at YE 2019 of $93MM. Manageble but now about 2X.
86% oil weighted production. Can't see their hedges, if any.
FFO from page 26 of March Presentation shows sensitivity to $1.00/bbl USD change in WTI oil price is - $0.02 per share. So $30 USD bbl recent price erosion means $.60 share X 119MM shares= $71MM less FFO.
Current dividend at $0.625 annually X 119MM shares = $74.375MM
Potential for new drills on their lands in Q2-Q3. Low.

Unless oil comes around, not a buyer yet. JMHO.