Sitio Royalties Corp. reported record fourth-quarter 2024 production of 40.9 MBoe/d, a 14% increase year-over-year, contributing to full-year pro forma production that exceeded the high end of company guidance. For the full year 2024, total revenues were $624.4 million, up 5.2% from 2023, with net income reaching $94.9 million.
The company completed three acquisitions in late 2024 for approximately $140 million, primarily in the Delaware Basin, which are immediately accretive to cash flow per share. Sitio's fourth-quarter total return of capital was $0.49 per share, comprising a $0.41 cash dividend and $0.08 per share in stock repurchases, bringing cumulative capital returns since June 2022 to over $840 million.
Sitio issued its 2025 outlook, projecting average daily production of 39.8 MBoe/d at the midpoint, a 3% increase over full-year 2024 production, with oil production expected to be around 47% compared to 50% in 2024. The company also reported $1.1 billion in total debt outstanding and $440.5 million in liquidity as of December 31, 2024, while repurchasing 0.6 million shares in Q4 2024 at an average price of $20.06 per share.
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