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3Q 2021 Investor Presentation – Brigham Minerals Inc.

Brigham Minerals Inc. · Nov 4, 2021 · 29 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. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 1
    Q3 2021 Investor Presentation November 2021
  2. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 2
    Large Deal Consolidation - DJ Basin Acquisition Page 3 MNRL
  3. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 3
    DJ Acquisition Checks all the Boxes Disciplined Consolidation Asset Overview Results in Clear Rationale & High Teens EBITDA Yield(1) DJ MNRL Acquisition Pro Forma Compelling Value Net Royalty Acres 85,575 8,400 93,975 Net PDP 39.3…
  4. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 4
    DJ Acquisition Summary DJ Acquisition Overview Net DUCs On November 3, 2021, the Company entered into a definitive purchase and sale agreement for large PDP and DUC focused DJ Acquisition Consideration composed of: Approximately 44…
  5. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 5
    Q3 2021 Standalone Update Page 6 MNRL
  6. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 6
    Compelling Return of Capital Q3 2021 Annualized Dividend Yield Base Dividend Variable Dividend 6.8% 1.3% 1.2% 2.4% 0.6% MNRL S&P500 10 Year Treasury Nasdaq 1.5x Base Dividend Yield vs Alternatives with Compelling…
  7. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 7
    Coverage, Sustainability and Growth Conservative Base Dividend Coverage Gross Well Spuds vs Years of Inventory 16,000 Daily Prod: 7,414 9,483 8,996 Realized BOE: 36 25 45 20+ Years 12,000 of 150 (1) 8,000 High Quality Base…
  8. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 8
    Brigham Minerals Overview Brigham Minerals Position By County Net Royalty Acres by Area (1) Williston Other, 3,810 , Williston, 5% 8,045 , 9% Delaware, 29,635 , 35% DJ, 16,345 , 19% 85,575 DJ NRA STACK, Midland, 10,220 ,…
  9. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 9
    Production & Activity Update Inventory of Activity Wells to Drive Q4 21 and Q1 22 Net Production and DUC Inventory Quarterly Gross Well Spuds Gross Spuds Boe/d Gross DUC Conversion Prior Period Gross DUCs 400 350 3Q20 4Q20 1Q21 2Q21…
  10. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 10
    Location Conversion MNRL Holds 6.0 Net DUCs Heading Into Q4 2021 6,750 181 0 6,000 (30) 5,250 PDP Conversions 6,413 6,564 4,500 3,750 181 Gross Wells 3,000 and 0.8 Net Q2 2021 Gross PDP Divested Wells Net of Converted DUC…
  11. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 11
    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 29,635 / 35% 6,105 / 7% 11,415 / 13% 10,220 / 12% 16,345 / 19% 8,045 /…
  12. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 12
    Acquisition Summary Q3 2021 Acquisitions Net Well Acquisitions by Basin by Quarter M per Net Normalized Well vs % Net DUCs and Permits 100% 16 5% 3% 1H2019 90% 19% 15% Acquisitions Q1 2020 17% 15% 14 Acquisitions 80% 7.6 M / 7%…
  13. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 13
    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…
  14. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 14
    Portfolio Overview & Highlights Page 15 MNRL
  15. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 15
    Organic Undeveloped Inventory Substantial Organic Inventory to Drive Long-Term Production and Cash Flow Gross Horizontal Well Locations - (12,955) 100% Net Horizontal Well Locations (109.5) Delaware Midland SCOOP STACK DJ Williston…
  16. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 16
    Delaware Basin Overview Net Royalty Acres MNRL DSUs Williston 9% Other 5% DJ 19% Delaware Delaware 35% 29,635 STACK NRAs 12% SCOOP Midland 13% 7% Undeveloped Well Locations Other 3rd BS / WC 2nd Bone Williston3% XY…
  17. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 17
    Midland Basin Overview Net Royalty Acres MNRL DSUs Delaware 35% Other 5% Williston 9% Midland Midland 7% 6,105 NRAs DJ SCOOP 19% 13% STACK 12% Undeveloped Well Locations Delaware Lower 50% Spraberry 30% Other MNRL…
  18. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 18
    Financial Overview Page 19 MNRL
  19. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 19
    Financial Policies Disciplined Financial Management Liquidity (M) Committed to maintaining a conservative capital 126 structure Limit long-term leverage…
  20. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 20
    Quarterly Dividend Declared Q3 2021 dividend of 0.40 per share of Class A common stock (0.14 base and 0.26 per share variable, based on discretionary cash flow ex lease bonus (1)) Dividend to be paid on December 1, 2021 to holders of…
  21. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 21
    Appendix Page 22 MNRL
  22. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 22
    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 19,375 19.1% 29,635 3,700 375,590 1.0%…
  23. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 23
    Quarterly Financial Results Total Revenue and Realized Price Adjusted EBITDA(2) Realized Price in millions in millions and / Boe Revenue Lease Bonus 50 48.51 50.00 EBITDA Ex. Lease Bonus 34.9 45.24 35 37.42 42.0 30.8 37.39 40.03…
  24. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 24
    Historical Financial Summary ( in thousands) Three Months Ended September 30, December 31, September 30, Year Ended December 31, 2021 2020 2020 2020 2019 Production: Daily production (Boe/d) 9,068 9,361 9,318 9,483 7,414 %…
  25. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 25
    Non-GAAP Reconciliations (in thousands) Three Months Ended Sept., 30, Jun, 30, Mar. 31, Dec. 31, Sep. 30, Year Ended December 31, 2021 2021 2021 2020 2020 2020 2019 Net Income (Loss) 18,911 15,326 12,071 (46,962) (13,017) (57,994)…
  26. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 26
    DJ Basin Overview Net Royalty Acres MNRL DSUs SCOOP 13% STACK Midland 12% 7% DJ DJ 19% 16,345 NRAs Delaware Williston Laramie 35% Other 9% 5% East Undeveloped Well Locations Pony Midland SCOOP MNRL Core Outline 9% 7%…
  27. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 27
    Anadarko Basin (SCOOP) Overview Net Royalty Acres MNRL DSUs Delaware 35% Midland 7% Other SCOOP SCOOP 13% 5% 11,415 Williston NRAs 9% STACK 12% DJ 19% Undeveloped Well Locations Delaware Woodford 50% 73% Midland…
  28. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 28
    Anadarko Basin (STACK) Overview Net Royalty Acres MNRL DSUs Midland 7% SCOOP Delaware 13% 35% STACK STACK 12% 10,220 NRAs Other DJ 5%Williston 19% 9% Undeveloped Well Locations Midland Woodford 9% 52% SCOOP 7%…
  29. 3Q 2021 Investor Presentation – Brigham Minerals Inc. – slide 29
    Williston Basin Overview Net Royalty Acres MNRL DSUs STACK 12% DJ 19% SCOOP 13% Williston Williston Midland 9% 8,045 7% Other NRAs 5% Delaware 35% Undeveloped Well Locations STACK Three Forks SCOOP 11% 58% 7% DJ…

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