Q2 2023 Freehold Royalties Ltd Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to the Second Quarter Results Conference Call.
I would now like to turn the meeting over to Mr. David Spyker. Please go ahead, Mr. Spyker.
Good morning, everyone, and thank you for joining us today. On the call from Freehold are David Hendry, our CFO; and Rob King, our COO.
The second quarter delivered consistent results across our North American portfolio. Production of 14,667 BOE a day was in line with the previous quarter and up 9% over Q2 of last year.
Year-over-year growth was due to organic growth on both sides of the border as well as acquisition activity completed in the Midland and Eagle Ford basins.
Revenue of $74 million was in line with expectations, generating funds from operations of $53 million or $0.35 per share. Realized pricing for the quarter of $54.05 per BOE continues to benefit from the premium pricing associated with our U.S. portfolio.
In the U.S., we realized a 39%
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