Skip to main content 1Q 2020 Earnings Presentation – Brigham Minerals Inc. | Shale Experts
Loading...
Pm

1Q 2020 Earnings Presentation – Brigham Minerals Inc.

Brigham Minerals Inc. · May 20, 2020 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 1
    Q1 2020 Investor Presentation May 2020
  2. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 2
    Decisive Management Responses Current Environment Requires Prudent Action Category Issue MNRL Response Rapidly Accelerating Early IT Infrastructure Acquisitions to Employee Safety Spread of COVID-19 Enhance Remote Access /…
  3. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 3
    Differentiated Positioning Strength and Opportunity Through the Commodity Cycle High margin cash flow offers protection in lower commodity price environments Minerals are an Advantaged Requires ZERO ongoing capital expenditures…
  4. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 4
    Brigham Track Record Consistent History of Shareholder Value Creation in Resource Plays Brigham Exploration Brigham Resources Brigham Minerals 2020 2011 2017 Capitalize on Low Prices BEXP Sale to Statoil for 4.4bn Sale to…
  5. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 5
    Brigham Minerals Overview Utilize Operator Experience and Technical Evaluation to Acquire in the Core Business Plan Bud Brigham Founders Rob Roosa Sophisticated and Technically Disciplined Evaluation Model Leveraging E&P…
  6. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 6
    Brigham Minerals Overview Targeted Acquisitions in the Core of Liquids Rich Resource Plays Brigham Minerals Position By County Net Royalty Acres by Area (1) Williston Other, 6,650 , 8% Williston, Delaware, 7,825 , 9% 26,550 ,…
  7. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 7
    Production & Activity Update Reloaded DUC Inventory During Q1 Net Production and DUC Inventory Quarterly Gross Well Spuds Boe/d DUC Conversion Prior Period Gross DUCs 400 1Q20 350 Converted 28% 300 12,000 4Q19 248 250 230…
  8. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 8
    Location Conversion and Reloading Organic Development & Acquisitions Underpin DUC and Permit Maintenance 6,000 248 2 5,250 76 0 PDP Conversions 4,500 4,908 5,234 3,750 326 Gross Wells 3,000 and 2.4 Net Q4 2019 PDP Acquired Wells…
  9. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 9
    Acquisition Summary Q1 2020 Acquisition Permian Weighted Capital Allocation Net Well Acquisitions by Basin by Quarter mm per Net Well vs % Net DUCs and Permits 100% mm / Net Well 16 80% 1H2019 Acquisitions 3Q2019 Acquisitions 6% 27%…
  10. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 10
    Portfolio Area Overview Core Position in Premier Liquids-Rich Basins Delaware Basin Midland Basin SCOOP STACK DJ Basin Williston Basin Total (1) NRA / % of Total 26,550 / 32% 4,575 / 6% 11,375 / 14% 10,700 / 13% 15,600 / 19% 7,825…
  11. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 11
    Investment Thesis Decisive Management Responses to Challenging Environment Experienced and Technically Focused Team with Strong Shareholder Alignment Core Mineral Position Under High-Quality, Well-Capitalized Operators Cash…
  12. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 12
    Portfolio Overview & Highlights Page 13 MNRL
  13. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 13
    Substantial Organic Inventory 46% of Gross & 52% of Net Undeveloped Locations in Permian Total Gross Locations Undeveloped Gross Locations 18,966 37% Delaware 12,850 Midland 15 Years of 3P (69%) 9% SCOOP Inventory 8% STACK PD…
  14. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 14
    Organic Undeveloped Inventory 15 Year Organic Inventory to Drive Production and Cash Flow Gross Horizontal Well Locations - (12,850) 100% Net Horizontal Well Locations (112.7) Delaware Midland SCOOP STACK DJ Williston Other Delaware…
  15. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 15
    Delaware Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs WillistonOther 9% 8% Delaware DJ 32% 19% Delaware Loving County 26,550 Development Area NRAs STACK 13% Midland SCOOP 5%…
  16. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 16
    LCDA Update Underpinned by Proven Operators Loving County Development Area OXY / XTO / EOG / SHELL Active Develop. Operator DUCs / Permits Zones SILVERTIP Bone Spring, 1 Gross DUC Upper Wolfcamp & Avalon 10 Gross DUCs / 8…
  17. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 17
    Financial Overview Page 18 MNRL
  18. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 18
    Quarterly Financial Results Total Revenue and Realized Price Adjusted EBITDA(2) in MM and / Boe in MM Realized Price 45.26 Revenue 33.6 32.3 30 Lease Bonus 35 49.00 26.8 42.87 EBITDA Ex. Lease Bonus 25.1 40.54 40.15 30 37.39…
  19. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 19
    Financial Policies Strong Alignment with Shareholders PSUs - ATSR Hurdles No annual cash bonuses 30% 25% 300% Share-based Compensation (LTIP): 20% 15% 200% Executive Chairman 100% Performance-Based 10% Restricted Stock Units…
  20. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 20
    Quarterly Dividend Declared Q1 2020 dividend of 0.37 per share of Class A common stock Dividend to be paid on June 3, 2020 to holders of record as of May 27, 2020 Anticipate gradually holding back cash flow in 2020 to fund a portion…
  21. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 21
    Appendix Page 22 MNRL
  22. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 22
    Brigham Track Record Consistent History of Shareholder Value Creation in Resource Plays Brigham Exploration Brigham Resources Brigham Minerals 2006 2012 2013 Enter Anadarko (SCOOP) Begin Building Williston Acreage Position Enter…
  23. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 23
    Differentiated Technical Evaluation 1 2 Initial Vetting Operator Review Number of Deals and Avg NRA Per Deal 500 100 400 80 300 60 3 4 200 40 Activity Analysis Inventory Potential 100 20 - - 2012 2013 2014 2015 2016 2017…
  24. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 24
    Mineral and Royalty Key Terms Implied Average Weighted Avg. Net Revenue Net Mineral Acres Royalty Net Royalty Acres (1) 100% Royalty Acres (2) Gross DSU Acres Interest Per Well (3) Delaware 16,800 19.8% 26,550 3,300 317,100 1.0%…
  25. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 25
    Historical Financial Summary (in thousands) Three Months Ended March 31, December 31, March 31, Year Ended December 31, 2020 2019 2019 2019 2018 2017 Production: Daily production (Boe/d) 10,401 9,627 5,382 7,414 3,881 2,352 %…
  26. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 26
    Non-GAAP Reconciliations (in thousands) Three Months Ended March 31, December 31, March 31, Year Ended December 31, 2020 2019 2019 2019 2018 2017 Net Income 8,801 12,346 4,036 21,639 32,815 115,612 Add: Loss on extinguishment of…
  27. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 27
    Midland Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 32% Other 8% Williston Midland 9% Midland 4,575 5% NRAs DJ SCOOP 19% 14% STACK 13% Undeveloped Well Locations…
  28. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 28
    DJ Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs SCOOP STACK 14% 13% Midland 5% DJ DJ 19% 15,600 Laramie NRAs Delaware Williston East 32% Other 9% Pony 8% Undeveloped Well…
  29. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 29
    Anadarko Basin (SCOOP) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 32% Midland 5% Other SCOOP 8% SCOOP 11,375 14% Williston NRAs 9% STACK DJ 13% 19% Undeveloped Well…
  30. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 30
    Anadarko Basin (STACK) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Midland 5% SCOOP Delaware 14% 32% STACK STACK 10,700 13% NRAs Other 8% DJ Williston 19% 9% Undeveloped Well…
  31. 1Q 2020 Earnings Presentation – Brigham Minerals Inc. – slide 31
    Williston Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs STACK 13% DJ 19% SCOOP 14% Williston Williston 7,825 Midland 9% NRAs 5% Other 8% Delaware 32% Undeveloped Well…

From the store

Browse maps, data & reports in the Shale Experts store