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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.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.
Q2 2025 production averaged 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.
Declared a $0.36 per share dividend for Q2 2025, payable August 19, 2025.
Pending all-stock merger with Viper Energy, expected to close in Q3 2025; guidance and outlook discontinued due to merger.
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%.
Adjusted EBITDA for Q2 2025 was $125.4 million, compared to $151.7 million in Q2 2024.
Six-month 2025 revenues totaled $309.2 million, down 3% year-over-year; net income for the period was $40.8 million, down 14%.
Net income per share (diluted) was $0.08, down from $0.15 in Q2 2024.
Outlook and guidance
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.
Guidance and outlook discontinued due to pending merger with Viper Energy.
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