Brigham Minerals Overview Brigham Minerals Position By County Net Royalty Acres by Area Williston Williston, 8,185 , 10% Delaware, 30,150 , 37% DJ, 24,755 82,175 DJ , 30% NRA Midland, SCOOP/STACK Anadarko, 9,235 , 11%…
Production & Activity Update Inventory of Activity Wells to Drive Production Growth Net Production and DUC Inventory Quarterly Gross Well Spuds Boe/d Gross DUC Conversion Prior Period Gross DUCs Gross Spuds 300 3Q21 4Q21 1Q22 2Q22…
Location Conversion MNRL Holds 6.7 Net DUCs Heading Into Q4 2022 10,000 307 3 9,000 PDP Conversions 8,000 (238) 9,011 9,083 7,000 307 Gross Wells 6,000 and 1.9 Net Q2 2022 Gross PDP Acquired Wells Net Converted DUC Converted…
Acquisition Summary Q3 2022 Acquisitions Delivering Substantial Near-Term Activity Capital Allocation by Basin by Quarter M per Net Normalized Well vs % Net DUCs and Permits 100% 16 27% Q3 2022 22% 14 11.0 M / 36% 75% Q1 2020 28%…
Investment Thesis Experienced and Technically Focused Team with Strong Shareholder Alignment Core Mineral Position Under High-Quality, Well-Capitalized Operators Undeveloped Core Inventory Drives Capex-Free, Long-Term Organic…
Financial Overview Page 8 MNRL
Financial Management and Leverage Disciplined Financial Management Compensation Update Committed to maintaining a conservative capital structure Implemented short term incentive (STI) to increase at-risk pay and further align pay…
Quarterly Dividend Declared Q3 2022 dividend of 0.81 per share of Class A common stock (0.16 base and 0.65 per share variable, based on discretionary cash flow ex lease bonus (1)) Variable dividend up 7% / total up 5% sequentially…
Portfolio Overview & Highlights Page 11 MNRL
Portfolio Area Overview Core Position in Premier Liquids-Rich Basins Delaware Basin Midland Basin DJ Basin Anadarko Williston Basin Total (1) NRA / % of Total 30,150 / 37% 9,235 / 11% 24,755 / 30% 9,850 / 12% 8,185 / 10% 82,175 /…
Organic Undeveloped Inventory Substantial Organic Inventory to Drive Long-Term Production and Cash Flow Gross Horizontal Well Locations - (11,222) 100% Net Horizontal Well Locations (88.7) Delaware Midland SCOOP STACK DJ Williston…
Delaware Basin Overview Net Royalty Acres MNRL DSUs Williston 10% DJ 30% Delaware Delaware 37% 30,150 NRAs Anadarko 12% Midland 11% Undeveloped Well Locations 3rd BS / WC XY 2nd Bone Williston 13% Spring 3% 9% DJ…
Midland Basin Overview Net Royalty Acres MNRL DSUs Delaware 37% Williston 10% Midland Midland 11% 9,235 NRAs Anadarko DJ 12% 30% Undeveloped Well Locations Lower Delaware Spraberry 55% 29% Other MNRL Core Outline…
DJ Basin Overview Net Royalty Acres MNRL DSUs Anadarko Midland 12% 11% DJ 30% DJ 24,755 NRAs Laramie Delaware 37% Williston 10% East MNRL Core Outline Pony Undeveloped Well Locations Midland 13% Wattenberg Anadarko…
Williston Basin Overview Net Royalty Acres MNRL DSUs DJ 30% Anadarko 12% Williston Williston Midland 10% 8,185 11% NRAs Delaware 37% Undeveloped Well Locations Anadarko Three Forks Midland 6% 59% 13% DJ 23%…
Appendix Page 19 MNRL
Mineral and Royalty Key Terms Implied Average Net Weighted Avg. Revenue Interest Per (1) (2) (3) Net Mineral Acres Royalty Net Royalty Acres 100% Royalty Acres Gross DSU Acres Well Delaware 19,850 19.0% 30,150 3,770 398,200 0.9%…
Quarterly Financial Results Total Revenue and Realized Price Adjusted EBITDA(1) Realized Price in millions in millions and / Boe Revenue Lease Bonus 100 94.2 100.00 100 EBITDA Ex. Lease Bonus 90.9 76.31 79.7 82.1 64.64 80 71.4…
Historical Financial Summary ( in thousands) Three Months Ended September 30, June 30, September 30, Year Ended December 31, 2022 2022 2021 2021 2020 Production: Daily production (Boe/d) 15,000 13,019 9,068 9,040 9,483 % Liquids…
Non-GAAP Reconciliations (in thousands) Three Months Ended Sep. 30, June 30, Mar. 31, Dec. 31, Sept. 30, Year Ended December 31, 2022 2022 2022 2021 2021 2021 2020 Net Income (Loss) 44,443 50,180 39,065 21,718 18,911 68,026…
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