PSK Q1 highlights... Analyst commentary?? - Royalty production averaged 23,892 BOE per day, representing a 17% increase over Q4 2021 and a 23% increase over Q1 2021.
- Total revenues grew to $139.9 million, a 39% increase over Q4 2021 and a 135% increase over Q1 2021, comprised of royalty production revenues of $134.7 million and other revenues of $5.2 million.
- Achieved record quarterly funds from operations of $105.0 million ($0.44 per common share basic and diluted), a 3% increase over Q4 2021 and a 115% increase over Q1 2021 driven by a combination of royalty production growth, 2021 acquisitions and strong commodity pricing.
- Declared a first quarter dividend of $28.7 million ($0.12 per common share), representing a payout ratio of 27%, with remaining cash flow allocated to $6.3 million of royalty acquisitions and the balance to retiring bank debt.
- At March 31, 2022, PrairieSky’s net debt totaled $568.9 million, a reduction of $66.1 million from December 31, 2021 as excess funds from operations were used to reduce indebtedness incurred in connection with acquisitions completed during the second half of 2021.
Nice paydown of debt, sick of hearing FREEhold is the market darling, i expect another divi increase for Q2..interested to see Analyst commentary..please post , thanks, dwdc