Sitio Royalties Expects 2024 Pro Forma Production Range Of 35,000 – 38,000 Boe/d
Portfolio Pulse from Benzinga Newsdesk
Sitio Royalties provided its full year 2024 financial and operational guidance, including the impact of the DJ Basin Acquisition. The company expects a pro forma production range of 35,000 to 38,000 Boe/d, with a midpoint close to the Q4 2023 production. The guidance also forecasts a significant increase in headcount and investments in technology to enhance minerals acquisitions and management. Cash G&A is expected to be between $31.5 million and $33.5 million, with production taxes ranging from 7.5% to 9.5% of royalty revenue.
February 29, 2024 | 6:40 am
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Sitio Royalties expects a 2024 pro forma production range of 35,000-38,000 Boe/d, influenced by the DJ Basin Acquisition. The guidance also includes a significant headcount increase and technology investments.
The guidance reflects a stable production outlook and strategic investments in technology and workforce, indicating positive growth prospects. The inclusion of the DJ Basin Acquisition's impact suggests a strategic expansion move, likely to be viewed positively by investors.
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