SOURCE ROCK ROYALTIES ANNOUNCES RECORD ANNUAL ROYALTY PRODUCTION & REVENUE

SOURCE ROCK ROYALTIES ANNOUNCES RECORD ANNUAL ROYALTY PRODUCTION & REVENUE

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

Source Rock Logo (CNW Group/Source Rock Royalties Ltd.)

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces unaudited (1) operational and financial highlights for fiscal 2024 and the fourth quarter of 2024 ("Q4 2024"). Annual royalty production and revenue were the highest results in Source Rock's 12-year history.

Unaudited (1) annual results for fiscal 2024 were:

  • Royalty Production - 251 boe/d (95% oil & NGLs), an increase of 21% compared to 2023.

  • Royalty Revenue - $7.68 million , an increase of 16% compared to 2023.

Unaudited (1) results for Q4 2024 were:

  • Royalty Production - 256 boe/d (97% oil & NGLs), an increase of 17% compared to Q4 2023.

  • Royalty Revenue - $1.87 million , an increase of 9% compared to Q4 2023.

Audited Annual and Q4 2024 Financial Statements and Management Discussion and Analysis, as well as oil and gas reserves information as of December 31, 2024, will be filed on SEDAR+ ( www.sedarplus.ca ) and announced by news release on or before April 30, 2025.

President's Message

2024 was a record year for Source Rock as a result of acquisitions completed in 2023 and record drilling activity. In 2024, 43 new horizontal wells began producing on our royalty lands: 20 Frobisher wells in S.E. Saskatchewan , 18 Clearwater wells in central Alberta , 3 Viking wells in west-central Saskatchewan , 1 Dina well in east-central Alberta and 1 Amaranth well in Manitoba .

Source Rock's working capital as of February 28, 2025 was approximately $5 million ( $0.11 per share), a 120% increase from February 2024 . We are actively pursuing additional accretive royalty acquisitions with the goal of expanding and diversifying our base royalty production, as well as increasing exposure to undeveloped royalty lands and ongoing drilling activity. We continue to be focused on acquiring high netback oil royalties.

Brad Docherty , President & CEO

About Source Rock Royalties Ltd.

Source Rock is a pure-play oil and gas royalty company with an existing portfolio of oil royalty interests concentrated in southeast Saskatchewan , central Alberta and west-central Saskatchewan . Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.

www.sourcerockroyalties.com

(1)

Unaudited Information: All financial information contained in this news release for the year ended and fourth quarter of December 31, 2024, such as royalty revenue, is based on estimated unaudited financial information which has been disclosed in accordance with generally accepted accounting principles in Canada and has not been reviewed by Source Rock's auditor. These estimated results are subject to change upon completion of the audited financial statements for the year ended December 31, 2024, and changes could be material. Source Rock anticipates filing its audited financial statements and related management's discussion and analysis for the year ended December 31, 2024 on SEDAR+ on or before April 30, 2025.

Forward-Looking Statements

This news release includes forward-looking statements and forward-looking information within the meaning of Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding Source Rock's dividend strategy and the amount and timing of future dividends (and the sustainability thereof), the potential for future drilling on Source Rock's royalty lands, expectations regarding commodity prices, Source Rock's growth strategy and expectations with respect to future royalty acquisition and partnership opportunities, the ability to complete such acquisitions and establish such partnerships, and the estimated costs for Source Rock to run its business. Such statements and information are based on the current expectations of Source Rock's management and are based on assumptions and subject to risks and uncertainties. Although Source Rock's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this news release may not occur by certain dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Source Rock. Although Source Rock has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement or information can be guaranteed. Except as required by applicable securities laws, forward-looking statements and information speak only as of the date on which they are made and Source Rock undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

SOURCE Source Rock Royalties Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2025/10/c0058.html

News Provided by Canada Newswire via QuoteMedia

SRR:CC
Source Rock Royalties

Source Rock Royalties Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Source Rock Royalties

Source Rock Royalties


Keep reading...Show less

Pure-play on oil & gas royalties in Western Canada

SOURCE ROCK ROYALTIES ANNOUNCES FOURTH QUARTER & YEAR-END 2024 RESULTS INCLUDING RECORD ANNUAL FUNDS FROM OPERATIONS

SOURCE ROCK ROYALTIES ANNOUNCES FOURTH QUARTER & YEAR-END 2024 RESULTS INCLUDING RECORD ANNUAL FUNDS FROM OPERATIONS

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil focused royalties, announces results for the three-month period and year ended December 31, 2024.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - SRR

Canadian Investment Regulatory Organization Trade Resumption - SRR

Trading resumes in:

Company: Source Rock Royalties Ltd.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Source Rock Royalties Confirms Monthly Dividend Record Date and Payment Date

Source Rock Royalties Confirms Monthly Dividend Record Date and Payment Date

Source Rock Royalties Ltd. (TSXV: SRR) ("Source Rock") is issuing this news release to confirm the record date and payment date for the January 2025 monthly dividend.

As previously announced on January 15, 2025, the board of directors of Source Rock has declared a monthly dividend of $0.0065 per common share, payable in cash on February 14, 2025 to shareholders of record on January 31, 2025. This information was disseminated by financial news providers and was therefore available to TSX Venture Exchange participating organizations, the financial community and other market participants.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
SOURCE ROCK ROYALTIES DECLARES MONTHLY DIVIDEND AND COMPLETES 11TH CONSECUTIVE YEAR OF PAYING DIVIDENDS TO SHAREHOLDERS

SOURCE ROCK ROYALTIES DECLARES MONTHLY DIVIDEND AND COMPLETES 11TH CONSECUTIVE YEAR OF PAYING DIVIDENDS TO SHAREHOLDERS

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on January 15, 2025 to shareholders of record on December 31, 2024 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
SOURCE ROCK ROYALTIES ANNOUNCES Q3 2024 RESULTS INCLUDING ITS THIRD CONSECUTIVE QUARTER OF RECORD ROYALTY PRODUCTION

SOURCE ROCK ROYALTIES ANNOUNCES Q3 2024 RESULTS INCLUDING ITS THIRD CONSECUTIVE QUARTER OF RECORD ROYALTY PRODUCTION

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces results for the three and nine month interim periods ended September 30, 2024 ("Q3 2024").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Skyharbour Partner Company Terra Clean Energy Plans Summer Drill Program at the South Falcon East Uranium Project

Skyharbour Partner Company Terra Clean Energy Plans Summer Drill Program at the South Falcon East Uranium Project

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ( " Skyharbour " or the " Company ") is pleased to announce that partner company Terra Clean Energy Corp. ("Terra", previously Tisdale Clean Energy) announces an upcoming summer drill program at the South Falcon East Uranium Project (the "Property") which hosts the Fraser Lakes B Uranium Deposit. The Property lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake Uranium Mill and former mine. Skyharbour optioned the Project to Terra and under the Option Agreement assuming the 75% interest is earned, Terra will fund exploration expenditures totaling CAD $10,500,000, as well as pay Skyharbour CAD $11,100,000 in cash of which $6,500,000 can be settled for shares in the capital of Terra ("Shares") over the earn-in period.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Coelacanth Announces Q4 2024 Financial and Operating Results

Coelacanth Announces Q4 2024 Financial and Operating Results

Coelacanth Energy Inc. (TSXV: CEI) ("Coelacanth" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2024. All dollar figures are Canadian dollars unless otherwise noted.

2024 HIGHLIGHTS

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Coelacanth Announces 2024 Year-End Reserves

Coelacanth Announces 2024 Year-End Reserves

Coelacanth Energy Inc. (TSXV: CEI) ("Coelacanth" or the "Company") is pleased to announce its 2024 year-end reserves as independently evaluated by GLJ Ltd. ("GLJ") effective December 31, 2024 (the "GLJ Report" or the "Report"), in accordance with National Instrument 51-101 ("NI 51-101") and the Canadian Oil and Gas Evaluation ("COGE") Handbook. All dollar figures are Canadian dollars unless otherwise noted.

Introduction

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
AMENDED FROM SOURCE - Blue Sky Uranium Increases and Closes 2nd and Final Tranche of the Oversubscribed Non-Brokered Private Placement

AMENDED FROM SOURCE - Blue Sky Uranium Increases and Closes 2nd and Final Tranche of the Oversubscribed Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Source Rock Royalties

Source Rock Royalties Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×