Freehold Royalties Ltd. (TSE:FRU) has released an update.
Freehold Royalties Ltd. reported a robust first quarter with $74 million in revenue and $54 million in funds from operations, alongside a strong production rate of 14,714 barrels of oil equivalent per day, despite weather challenges. The company saw a 15% increase in drilling on their lands and maintained their full-year production guidance, while also achieving premium pricing for their U.S. assets. Freehold’s strategic acquisitions contributed to a bounce-back in production and a net debt of $211 million, positioning them for sustainable shareholder returns and growth.
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