/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./
CALGARY, AB, April 20, 2026 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV:SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties and Crown mineral leases, announces results for the three-month period and year ended December 31, 2025.
Annual Highlights:
- Annual royalty production of 230 boe/d (92% oil and NGLs), a decrease of 8% over 2024.
- Annual royalty revenue of $6,031,130, a decrease of 22% over 2024.
- Annual adjusted EBITDA(1) of $5,262,031 ($0.116 per share), a decrease of 23% over 2024.
- Annual funds from operations(1) of $4,845,963 ($0.106 per share), a decrease of 19% over 2024.
- Declared $3,555,452 in dividends ($0.078 per share), resulting in a payout ratio(1) of 73%.
- Achieved an operating netback(1) of $62.68 per boe and a corporate netback(1) of $57.72 per boe.
- 33 gross new horizontal wells began producing on royalty lands in S.E. Saskatchewan (14), central Alberta (13), west-central Saskatchewan (5) and east-central Alberta (1).
- Acquired a 50% interest in 19 sections (12,160 acres) of Crown oil sands and PNG leases in Alberta.
- Working capital(2) of $4,604,931 ($0.10 per share) as at December 31, 2025.
Fourth Quarter Highlights:
- Quarterly royalty production of 226 boe/d (91% oil and NGLs), a decrease of 12% over Q4 2024.
- Quarterly royalty revenue of $1,331,026, a decrease of 29% over Q4 2024.
- Quarterly adjusted EBITDA(1) of $1,176,439 ($0.026 per share), a decrease of 31% over Q4 2024.
- Quarterly funds from operations(1) of $1,095,233 ($0.024 per share), a decrease of 27% over Q4 2024.
- Declared three monthly dividends of $0.0065 per share, resulting in a payout ratio(1) of 81%.
- Achieved an operating netback(1) of $56.58 per boe and a corporate netback(1) of $52.68 per boe.
2025 Reserves Information
Source Rock’s reserves data and other oil and natural gas information, as required under National Instrument 51-101, is available on SEDAR+ at www.sedarplus.ca.
Financial and Operational Results
|
Three Months Ended December 31, |
Year Ended December 31, |
|||||
|
FINANCIAL ($, except as noted) |
2025 |
2024 |
Change |
2025 |
2024 |
Change |
|
Royalty revenue |
1,331,026 |
1,871,245 |
-29 % |
6,031,130 |
7,689,586 |
-22 % |
|
Adjusted EBITDA(1) |
1,176,439 |
1,709,057 |
-31 % |
5,262,031 |
6,816,173 |
-23 % |
|
Per share (basic) |
0.026 |
0.038 |
-31 % |
0.116 |
0.15 |
-23 % |
|
Funds from operations(1) |
1,095,233 |
1,511,958 |
-27 % |
4,845,963 |
5,994,371 |
-19 % |
|
Per share (basic) |
0.024 |
0.033 |
-27 % |
0.106 |
0.132 |
-20 % |
|
Total comprehensive income (loss) |
308,713 |
501,915 |
-38 % |
1,322,492 |
1,495,319 |
|