The company said it reported net income of Q4 2023 of $113.1 million ($14.73 per diluted share) and revenues of $166.7 million, and that full-year net income was $405.6 million, down 9.1% from $446.4 million a year earlier.

1. 01

   The company said it reported net income of Q4 2023 of $113.1 million ($14.73 per diluted share) and revenues of $166.7 million, and that full-year net income was $405.6 million, down 9.1% from $446.4 million a year earlier.

2. 02

   The company said full-year oil and gas royalty revenue of $357.4 million included a $8.7 million recovery related to the O&G Settlement, and that excluding this recovery, it fell $103.7 million from a year earlier. It said the average realized price was $42.58 per Boe, compared with $60.81 per Boe a year earlier.

3. 03

   The company said water sales and produced water royalties combined rose $39.5 million, and easements and other surface-related income increased $22.9 million, partially offsetting the decline in oil and gas royalty revenue.

4. 04

   The company reported full-year 2023 free cash flow of $415.5 million, common stock repurchases of $42.4 million, and total cash dividends paid of $100.0 million. It said its board declared a quarterly dividend of $3.50 per share on February 13, 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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