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Sitio Royalties (STR) investor relations material
Sitio Royalties Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary4 Aug, 2025
Executive summary
Entered into a merger agreement with Viper Energy, Inc. in June 2025, combining in an all-equity transaction; Sitio shareholders will own ~20% of the new entity, New Viper, post-merger, pending customary approvals and conditions; merger expected to close in Q3 2025.
Q2 2025 production was 19.3 MBbls/d oil and 41.9 MBoe/d total, with net income of $14.5 million and Adjusted EBITDA of $125.4 million.
Repurchased 1.65 million shares of Class A Common Stock in the first half of 2025; share repurchase program authorization increased to $500 million, with $350.7 million remaining as of June 30, 2025.
Returned $0.42 per share to shareholders in Q2 2025 via $0.36 dividend and $0.06 share repurchases.
Closed $26.6 million in oil and gas property acquisitions in the first half of 2025, including $6.0 million in Q2 2025 adding 430 net royalty acres.
Financial highlights
Q2 2025 total revenues were $145.7 million, down 14% year-over-year, mainly due to a 20% decrease in average realized price, partially offset by a 7% increase in production.
Net income for Q2 2025 was $14.5 million, a 50% decrease from Q2 2024; net income attributable to Class A stockholders was $7.3 million, down 43%.
Six-month 2025 revenues totaled $309.2 million, down 3% year-over-year; net income for the period was $40.8 million, down 14%.
Operating cash flow for the first half of 2025 was $189.0 million, down 13% from the prior year.
Average realized prices in Q2 2025: $63.03/bbl oil, $1.43/Mcf gas, $22.57/bbl NGLs; total $36.95/Boe unhedged, $37.28/Boe hedged.
Outlook and guidance
Discontinued providing guidance and long-term outlook due to the pending merger with Viper Energy.
Anticipates continued lower crude oil price realizations compared to 2024, driven by OPEC's removal of production curtailments and global demand concerns.
Management expects sufficient liquidity for at least the next 12 months, supported by cash flow, credit facility availability, and capital markets access.
Explain guidance discontinuation post-merger
Q2 2025 return of capital breakdown
Which basin has most net LOS wells as of Q2 2025?
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Frequently asked questions
Sitio Royalties Corp. is an energy-focused company engaged in the ownership and management of mineral and royalty interests. The company’s portfolio includes assets primarily in oil and gas-producing regions, generating revenue through royalties from production without the operational risks of drilling. Sitio Royalties serves the energy sector by partnering with exploration and production companies to optimize asset value. The company is headquartered in Denver, Colorado, and its shares are listed on the NYSE.
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