STR - Sitio Royalties Corp. reports Q3 results

• Sitio Royalties Corp. press release ( NYSE: STR ): Q3 Revenue of $115.49M (+241.8% Y/Y) in-line.
• Net income of $69.0 million, down 4% sequentially from 2Q 2022 and cash flow from operations of $82.6 million, up 89% sequentially from 2Q 2022
• Adjusted EBITDA of $106.3 million, up 38% sequentially from 2Q 2022 and Discretionary Cash Flow  of $93.4 million, up 24% sequentially from 2Q 2022
• Declared 3Q 2022 dividend of $0.72 per share of Class A Common Stock; implied annualized dividend yield of 9.4% based on STR's Class A Common Stock closing price of $30.64 on November 7, 2022
• 131.1 net producing wells online as of September 30, 2022, a sequential increase from 2Q 2022 of 4.3 net wells, or 3.4%
• 4.1 net wells turned-in-line ("TIL") during 3Q 2022, approximately 95% of which were in the Permian Basin
• 26.7 net line-of-sight ("LOS") wells as of September 30, 2022, comprised of 15.9 net spuds and 10.8 net permits, with approximately 91% of total net LOS wells in the Permian Basin

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