Freehold Royalties Ltd (TSX:FRU)
C$ 13.37 -0.12 (-0.89%) Market Cap: 2.01 Bil Enterprise Value: 2.24 Bil PE Ratio: 14.86 PB Ratio: 2.18 GF Score: 83/100
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Q1 2024 Freehold Royalties Ltd Earnings Call Transcript

May 07, 2024 / 01:00PM GMT
Release Date Price: C$14.05 (-0.64%)
Operator

Good morning, ladies and gentlemen, and welcome to the First Quarter Results Conference Call. I would now like to turn the meeting over to Mr. David Spieker. Please go ahead, sir.

David Spyker
Freehold Royalties Ltd - President and Chief Executive Officer

The small airways.

Thank you for joining us today on the call to freehold, Rob King, our Chief Operating Officer, and Dave Hendry, our Chief Financial Officer.

Production for the quarter averaged 14,714 BOE a day, essentially unchanged over the previous quarter. Canadian volumes averaged 9,593 BOE a day, 56% liquids and the U.S. averaged 5,121 BOE a day, 78% liquids, generating total revenue of $74 million. Severe January weather events, both in Canada and the U.S. impacted our production in the quarter. However, volumes made a strong recovery from these unplanned outages with corporate production in the second half of the quarter over 15,000 BOE a day in the U.S., our light oil weighted Midland volumes increased 18% and Delaware volumes increased 59% over Q4 2023, which is due in part to

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