Sitio Royalties Corp. reported a total revenue of $163.5 million for the first quarter of 2025, marking an increase of 8% from $151.4 million in the same period of 2024. The growth in revenue was primarily driven by a significant rise in natural gas and natural gas liquids (NGLs) sales, which increased by 182% and 51%, respectively. Oil revenues, however, saw a decline of 6%, attributed to a decrease in average realized prices. The company’s net income for the quarter was $26.3 million, a 41% increase from $18.7 million in the prior year, with net income attributable to Class A stockholders rising to $10.3 million from $8.5 million.
In terms of operational performance, Sitio's average daily production increased by 19% to 42,136 barrels of oil equivalent per day (BOE/d) compared to 35,349 BOE/d in the first quarter of 2024. This increase was supported by the company’s ongoing acquisition strategy, which has seen it complete 212 acquisitions since its inception in 2016. As of March 31, 2025, Sitio owned mineral and royalty interests representing over 274,600 net royalty acres, with 49,003 gross producing horizontal wells on its acreage.
The company’s financial position showed a slight decrease in total assets, which stood at $4.68 billion as of March 31, 2025, down from $4.74 billion at the end of 2024. Current liabilities increased to $57.6 million from $48.0 million, while long-term liabilities decreased slightly to $1.32 billion. Sitio's liquidity remained strong, with $440.5 million available, including $1.7 million in cash and $438.8 million under its revolving credit facility.
Strategically, Sitio has continued its share repurchase program, buying back 1,102,827 shares of Class A Common Stock during the first quarter at an average price of $20.19 per share. The board has extended the program with an additional authorization of $300 million, bringing the total authorization to $500 million. The company also reported a cash dividend of $0.35 per share, payable on May 30, 2025, reflecting its commitment to returning capital to shareholders.
Looking ahead, Sitio anticipates continued growth through strategic acquisitions and operational efficiencies, despite potential challenges from fluctuating commodity prices and economic conditions. The company remains focused on enhancing its cash flow and shareholder returns while navigating the complexities of the oil and gas market.
About Sitio Royalties Corp.
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