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2Q 2021 Earnings Presentation – Brigham Minerals Inc.

Brigham Minerals Inc. · Aug 4, 2021 · 26 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. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 1
    Q2 2021 Investor Presentation August 2021
  2. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 2
    Industry Leading Return of Capital Q2 2021 Annualized Dividend Yield Base Dividend Variable Dividend 7.3% 6.4% 2.0% 1.3% 1.2% 2.9% 0.6% 1.6% MNRL E&P E&P S&P500 10 Year Treasury Nasdaq Base + Variable Base 1.5x…
  3. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 3
    Coverage, Sustainability and Growth Conservative Base Dividend Coverage Gross Well Spuds vs Years of Inventory 15,000 Daily Prod: 7,414 9,483 8,959 Realized BOE: 36 25 43 12,000 20+ Years 9,000 of 150 (1) High Quality Base…
  4. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 4
    Brigham Minerals Overview Brigham Minerals Position By County Net Royalty Acres by Area (1) Williston Other, 6,790 , 8% Williston, Delaware, 7,995 , 9% 29,270 , 33% DJ, 16,345 , 88,570 DJ 18% NRA Midland, STACK, 6,105 ,…
  5. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 5
    Production & Activity Update Inventory of Activity Wells to Drive 2H 21 Net Production and DUC Inventory Quarterly Gross Well Spuds Gross Spuds Boe/d Gross DUC Conversion Prior Period Gross DUCs 400 350 2Q20 3Q20 4Q20 1Q21 2Q21…
  6. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 6
    Location Conversion MNRL Holds 5.0 Net DUCs Heading Into Q3 2021 6,750 204 10 59 6,000 5,250 PDP Conversions 6,413 4,500 6,140 3,750 204 Gross Wells 3,000 and 0.7 Net Q1 2021 Gross PDP Acquired Wells Converted DUC Converted…
  7. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 7
    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 29,270 / 33% 6,105 / 7% 11,415 / 13% 10,650 / 12% 16,345 / 18% 7,995 /…
  8. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 8
    Acquisition Summary Q2 2021 Acquisitions Net Well Acquisitions by Basin by Quarter M per Net Normalized Well vs % Net DUCs and Permits 100% 16 5% 1H2019 90% 13% 19% 15% Acquisitions Q1 2020 17% 15% 14 Acquisitions 80% 7.6 M / 7%…
  9. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 9
    Midland Basin Q2 2021 Acquisitions Focus on Activity Wells MNRL DSUs Acquisition Strategy Core Location Targeting core Midland Basin DSUs with substantial Wolfcamp and Spraberry inventory MNRL Core Outline Quality Operators…
  10. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 10
    Investment Thesis Experienced and Technically Focused Team with Strong Shareholder Alignment Prudent Capital Structure with Ample Liquidity Core Mineral Position Under High-Quality, Well-Capitalized Operators Compelling Return of…
  11. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 11
    Portfolio Overview & Highlights Page 12 MNRL
  12. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 12
    Organic Undeveloped Inventory Substantial Organic Inventory to Drive Long-Term Production and Cash Flow Gross Horizontal Well Locations - (13,462) 100% Net Horizontal Well Locations (114.8) Delaware Midland SCOOP STACK DJ Williston…
  13. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 13
    Delaware Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Williston Other 9% 8% DJ 18% Delaware Delaware 33% 29,270 STACK NRAs 12% Midland Loving County SCOOP 7% Development Area…
  14. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 14
    Midland Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 33% Other 8% Williston Midland Midland 9% 7% 6,105 NRAs SCOOP DJ 13% 18% STACK 12% Undeveloped Well…
  15. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 15
    Financial Overview Page 16 MNRL
  16. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 16
    Financial Policies Disciplined Financial Management Liquidity (M) (2) Committed to maintaining a conservative capital 128 structure Limit long-term leverage…
  17. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 17
    Quarterly Dividend Declared Q2 2021 dividend of 0.35 per share of Class A common stock (0.14 base and 0.21 per share variable, based on discretionary cash flow (1)) Dividend to be paid on August 27, 2021 to holders of record as of…
  18. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 18
    Appendix Page 19 MNRL
  19. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 19
    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 19,025 19.2% 29,270 3,660 365,770 1.0%…
  20. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 20
    Quarterly Financial Results Total Revenue and Realized Price Adjusted EBITDA(2) Realized Price in millions in millions and / Boe Revenue Lease Bonus 50 45.24 50.00 35 EBITDA Ex. Lease Bonus 37.42 30.8 37.39 40.03 40 36.31 37.8…
  21. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 21
    Historical Financial Summary ( in thousands) Three Months Ended June 30, December 31, June 30, Year Ended December 31, 2021 2020 2020 2020 2019 Production: Daily production (Boe/d) 8,988 9,361 8,854 9,483 7,414 % Liquids 70% 72%…
  22. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 22
    Non-GAAP Reconciliations (in thousands) Three Months Ended Jun, 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, Year Ended December 31, 2021 2021 2020 2020 2020 2020 2019 Net Income (Loss) 15,326 12,071 (46,962) (13,017) (6,816) (57,994)…
  23. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 23
    DJ Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs SCOOP 13% STACK Midland 12% 7% DJ DJ 18% 16,345 NRAs Delaware Williston 33% Other 9% 8% Laramie East Pony Undeveloped Well…
  24. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 24
    Anadarko Basin (SCOOP) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Delaware 33% Midland 7% Other 8% SCOOP SCOOP 13% 11,415 Williston NRAs 9% STACK DJ 12% 18% Undeveloped Well…
  25. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 25
    Anadarko Basin (STACK) Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs Midland 7% Delaware SCOOP 33% 13% STACK STACK 12% 10,650 NRAs Other 8% DJ Williston 18% 9% Undeveloped Well…
  26. 2Q 2021 Earnings Presentation – Brigham Minerals Inc. – slide 26
    Williston Basin Overview Core Outline Validated by Operator Rig Activity Net Royalty Acres MNRL DSUs STACK 12% DJ 18% SCOOP 13% Williston Williston Midland 9% 7,995 7% Other NRAs 8% Delaware 33% Undeveloped Well…

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