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…
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, 6,770 , 8% Williston, Delaware, 7,950 , 9% 28,330 ,…
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 400 350 1Q20…
Location Conversion MNRL Holds 3.6 Net DUCs Heading Into Q1 2021 6,000 277 106 (5) 5,250 PDP Conversions 4,500 5,607 5,985 3,750 106 Gross Wells 3,000 and 1.0 Net Q3 2020 PDP Acquired Wells Converted DUC Converted Permitted Q4 2020…
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 28,330 / 33% 5,220 / 6% 11,400 / 13% 10,725 / 12% 15,890 / 18% 7,950…
Acquisition Summary Q4 2020 Acquisitions Net Well Acquisitions by Basin by Quarter M per Net Well vs % Net DUCs and Permits 100% 4% 16 90% 16% Q3 2019 80% 14 Acquisitions 6% 27% 11.0 M / 24% 70% 23% 11% 12 60% 1H2019 50% 11%…
Delaware Basin Q4 2020 Acquisitions Ground Game Acquisition Activity Accelerating with Focus on Permian Consolidation MNRL DSUs Acquisition Strategy Location Primarily targeting core Permian activity units 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 11 MNRL
Substantial Organic Inventory 51% of Gross & 56% of Net Undeveloped Locations in Permian Total Gross Locations Undeveloped Gross Locations 20,202 39% Delaware Midland 13,496 Substantial SCOOP 12% Undev. (67%) Inventory 8%…
Organic Undeveloped Inventory Substantial Organic Inventory to Drive Long-Term Production and Cash Flow Gross Horizontal Well Locations - (13,496) 100% Net Horizontal Well Locations (116.3) 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% 28,330 NRAs STACK Loving County 13% Development Area Midland SCOOP 6%…
Financial Overview Page 15 MNRL
Financial Policies Disciplined Financial Management Liquidity (M) Committed to maintaining a conservative capital 124 structure Limit long-term leverage…
Quarterly Dividend Declared Q4 2020 dividend of 0.26 per share of Class A common stock (based on discretionary cash flow (1)) Dividend to be paid on March 26, 2021 to holders of record as of March 19, 2021 10% of cash flow retained…
Appendix Page 18 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 18,375 19.3% 28,330 3,540 345,770 1.0%…
Quarterly Financial Results Total Revenue and Realized Price Adjusted EBITDA(2) Realized Price in millions in millions and / Boe Revenue Lease Bonus 35 33.6 49.00 EBITDA Ex. Lease Bonus 32.3 30 37.42 26.8 30 37.39 42.00 25.1…
Historical Financial Summary ( in thousands) Three Months Ended December 31, September 30, December 31, Year Ended December 31, 2020 2020 2019 2020 2019 Production: Daily production (Boe/d) 9,361 9,318 9,627 9,483 7,414 %…
Non-GAAP Reconciliations (in thousands) Three Months Ended Dec. 31, Sep. 30, Jun. 30, Mar. 31, Year Ended December 31, 2020 2020 2020 2020 2020 2019 Net Income (46,962) (13,017) (6,816) 8,801 (57,994) 21,639 Add: Impairment of oil…
Midland Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 33% Other 8% Williston 9% Midland Midland 6% 5,220 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% 15,890 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% 7,950 6% NRAs Other 8% Delaware 33% Undeveloped Well…
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