Differentiated Positioning Strength and Opportunity Through the Commodity Cycle Perpetual asset with significant optionality Experienced technical team No D&C capex or lease Conserved capital in Q1 and operating expenses Q2 for…
MNRL Advantaged Balance Sheet MNRL Cash Flow Unencumbered by Interest Expense or Hedge Losses Net Debt / Adj. LTM EBITDA (1) (2) Indexed Cumulative Dividend / Share (3) 5.0x 1,585 M of Cumulative Debt 500 MNRL Peers(1) and…
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, 6,725 , 8% Williston, Delaware, 7,825 , 9% 26,550 ,…
Production & Activity Update Inventory of Activity Wells to Drive 2H20 Net Production and DUC Inventory Quarterly Gross Well Spuds Gross Spuds Boe/d Gross DUC Conversion Prior Period Gross DUCs 400 1Q20 2Q20 350 Converted…
Location Conversion MNRL Holds 4.6 Net DUCs Headed Into 2H20 6,000 0 7 222 0 19 5,250 PDP Conversions 4,500 5,234 5,444 3,750 222 Gross Wells 3,000 and 1.2 Net Q1 2020 PDP Acquired Wells Converted DUC Converted Converted Other Q2…
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% 4,800 / 6% 11,375 / 13% 10,700 / 13% 15,600 / 19% 7,825…
Disciplined Acquisition Strategy Targeting Activity in the Down Market Key Area Horizontal Rig Counts (LTM) Acquisition Strategy 700 Location 600 51 500 51 45 78 45 40 37 Continuing to focus on acquisitions in the 400 43 47…
Acquisition Summary Q2 2020 Acquisitions Net Well Acquisitions by Basin by Quarter M per Net Well vs % Net DUCs and Permits 100% M / Net Well 16 Q3 2019 Acquisitions 80% 1H2019Acquisitions Acquisitions 3Q2019 Acquisitions 6% 27%…
Delaware Basin Q3 2020 Acquisitions Ground Game Acquisition Activity Accelerating with Focus on Permian Consolidation MNRL DSUs Acquisition Strategy Location Primarily targeting core Permian undeveloped with substantial upper…
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 on…
Portfolio Overview & Highlights Page 13 MNRL
Substantial Organic Inventory 47% of Gross & 53% of Net Undeveloped Locations in Permian Total Gross Locations Undeveloped Gross Locations 19,056 37% Delaware 12,907 Midland 20 Years of 3P (68%) 10% SCOOP Inventory 8% STACK PD…
Organic Undeveloped Inventory 20 Year Organic Inventory to Drive Long-Term Production and Cash Flow Gross Horizontal Well Locations - (12,907) 100% Net Horizontal Well Locations (113.2) Delaware Midland SCOOP STACK DJ Williston Other…
Delaware Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Williston Other 9% 8% DJ 19% Delaware Delaware 32% 26,550 NRAs STACK 13% Midland Loving County Development Area SCOOP 6%…
Financial Overview Page 17 MNRL
Financial Policies Disciplined Financial Management Liquidity (M) Committed to maintaining a conservative capital 151 structure Limit long-term leverage…
Quarterly Dividend Declared Q2 2020 dividend of 0.14 per share of Class A common stock Dividend to be paid on September 3, 2020 to holders of record as of August 27, 2020 Anticipate gradually holding back cash flow in 2020 to fund a…
Appendix Page 20 MNRL
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 16,850 19.7% 26,550 3,300 317,100 1.0%…
Quarterly Financial Results Total Revenue and Realized Price Adjusted EBITDA(2) in millions and / Boe in millions Realized Price Revenue Lease Bonus 35 45.26 33.6 49.00 32.3 EBITDA Ex. Lease Bonus 42.87 30 40.54 40.15 26.8 30…
Historical Financial Summary (in thousands) Three Months Ended June 30, March 31, June 30, Year Ended December 31, 2020 2020 2019 2019 2018 Production: Daily production (Boe/d) 8,854 10,401 6,768 7,414 3,881 % Liquids 71% 72% 71%…
Non-GAAP Reconciliations (in thousands) Three Months Ended Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, Mar. 31, Year Ended December 31, 2020 2020 2019 2019 2019 2019 2018 2018 2018 2018 2019 2018…
Midland Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 32% Other 8% Williston Midland 9% Midland 6% 4,800 NRAs DJ SCOOP 19% 13% STACK 13% Undeveloped Well…
DJ Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs SCOOP STACK 13% 13% Midland 6% DJ DJ 19% 15,600 Laramie NRAs Delaware Williston 32% 9% East Other 8% Pony Undeveloped Well…
Anadarko Basin (SCOOP) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 32% Midland 6% Other 8% SCOOP SCOOP 13% 11,375 Williston 9% NRAs STACK DJ 13% 19% Undeveloped Well…
Anadarko Basin (STACK) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Midland 6% SCOOP Delaware 13% 32% STACK STACK 13% 10,700 NRAs Other 8% DJ Williston 19% 9% Undeveloped Well…
Williston Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs STACK 13% DJ 19% SCOOP 13% Williston Williston Midland 9% 7,825 6% Other NRAs 8% Delaware 32% Undeveloped Well…
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