Aug 01, 2024 / 01:00PM GMT
Operator
Good morning, ladies and gentlemen. Welcome to the Freehold Royalties second quarter results conference call.
I'd like to turn the meeting over to Mr. David Spyker. Please go ahead, sir.
David Spyker - Freehold Royalties Ltd - President, Chief Executive Officer, Director
Good morning, everyone, and thank you for joining us today. On the call from Freehold are Rob King, our COO; and Dave Hendry, our CFO. Really pleased with our quarter with production averaging 15,221 BOE a day, a 3% increase over the prior quarter.
Oil production was driving this growth averaging 7,899 barrels a day, which was a 7% increase over the prior quarter. Our US assets grew 9% over the quarter to 5,599 BOE a day. Our result of increased drilling activity on our Eagle Ford and Permian assets, as well as the recovery from the extreme weather impacts in Q1 2024.
Funds from operations for the quarter totaled $60 million or $0.40 per share, and 11% increase over the prior quarter. This funded are $0.09 per month dividend resulting in a 68% payout ratio for the
Q2 2024 Freehold Royalties Ltd Earnings Call Transcript
Aug 01, 2024
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