Differentiated Positioning Strength and Opportunity Through the Commodity Cycle Perpetual asset with significant optionality Experienced technical team Acquisition economics No D&C capex or lease outcompete capital allocation…
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 500 1,320 M of Cumulative Debt 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% 27,550 ,…
Production & Activity Update Inventory of Activity Wells to Drive Next Six Months of Results Net Production and DUC Inventory Quarterly Gross Well Spuds Gross Spuds Boe/d Gross DUC Conversion Prior Period Gross DUCs 400 3Q20…
Location Conversion MNRL Holds 3.8 Net DUCs Heading Into Q4 2020 6,000 143 0 21 0 (1) 5,250 PDP Conversions 4,500 5,444 5,607 3,750 143 Gross Wells 3,000 and 1.2 Net Q2 2020 PDP Acquired Wells Converted Converted Converted Other Q3…
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 27,550 / 33% 4,875 / 6% 11,400 / 13% 10,725 / 13% 15,600 / 18% 7,825…
Disciplined Acquisition Strategy Targeting Activity in the Down Market Key Area Horizontal Rig Counts (Since Q3 2019) Acquisition Strategy 700 Location 600 51 500 51 45 45 78 40 37 Continuing to focus on acquisitions in the 400 43…
Acquisition Summary Q3 2020 Acquisitions Net Well Acquisitions by Basin by Quarter M per Net Well vs % Net DUCs and Permits 100% 4% 16 90% Q3 2019 80% 14 Acquisitions 6% 27% 70% 11.0 M / 24% 60% 11% 12 1H2019 50% 11% 96% 10…
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 48% of Gross & 54% of Net Undeveloped Locations in Permian Total Gross Locations Undeveloped Gross Locations 19,449 38% Delaware Midland 13,218 Substantial 10% SCOOP Undev. (68%) Inventory 8% STACK…
Organic Undeveloped Inventory Substantial Organic Inventory to Drive Long-Term Production and Cash Flow Gross Horizontal Well Locations - (13,218) 100% Net Horizontal Well Locations (116.7) Delaware Midland SCOOP STACK DJ Williston…
Delaware Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Williston Other 9% 8% DJ 18% Delaware Delaware 33% 27,550 NRAs STACK 13% Loving County Midland Development Area SCOOP…
Financial Overview Page 17 MNRL
Financial Policies Disciplined Financial Management Liquidity (M) Committed to maintaining a conservative capital 138 structure Limit long-term leverage…
Quarterly Dividend Declared Q3 2020 dividend of 0.24 per share of Class A common stock (based on discretionary cash flow ex. lease bonus(1)) Dividend to be paid on December 7, 2020 to holders of record as of November 30, 2020 5% of…
Appendix Page 20 MNRL
Mineral and Royalty Key Terms Implied Average Net Weighted Avg. Revenue Interest Per Net Mineral Acres Royalty Net Royalty Acres (1) 100% Royalty Acres (2) Gross DSU Acres Well (3) Delaware 17,625 19.5% 27,550 3,450 326,070 1.1%…
Quarterly Financial Results Total Revenue and Realized Price Adjusted EBITDA(2) Realized Price in millions in millions and / Boe Revenue 33.6 Lease Bonus 35 45.26 32.3 49.00 42.87 30 EBITDA Ex. Lease Bonus 40.54 40.15 26.8 30…
Historical Financial Summary Three Months ( in thousands) Ended September 30, June 30, September 30, Year Ended December 31, 2020 2020 2019 2019 2018 Production: Daily production (Boe/d) 9,318 8,854 7,828 7,414 3,881 % Liquids…
Non-GAAP Reconciliations (in thousands) Three Months Ended Year Ended Sep. 30, Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, Mar. 31, December 31, 2020 2020 2020 2019 2019 2019 2019 2019 Net Income (13,017) (6,816) 8,801 12,346…
Midland Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 33% Other 8% Williston 9% Midland Midland 6% 4,875 NRAs DJ SCOOP 18% 13% STACK 13% Undeveloped Well…
DJ Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs SCOOP STACK 13% Midland 13% 6% DJ DJ 18% 15,600 NRAs Laramie Delaware Williston 33% 9% East Other 8% Pony Undeveloped Well…
Anadarko Basin (SCOOP) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 33% Midland 6% Other 8% SCOOP SCOOP 13% 11,400 Williston 9% NRAs STACK DJ 13% 18% Undeveloped Well…
Anadarko Basin (STACK) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Midland 6% Delaware SCOOP 33% 13% STACK STACK 13% 10,725 NRAs Other 8% DJ Williston 18% 9% Undeveloped Well…
Williston Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs STACK 13% DJ 18% SCOOP 13% Williston Williston Midland 9% 7,825 6% NRAs Other 8% Delaware 33% Undeveloped Well…
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