Maintained Quarterly Distribution
Despite recent volatility in commodity prices and global market dynamics, the company maintained its quarterly distribution of $0.375 per unit, which is $1.50 on an annualized basis.
Encouraging Activity in Natural Gas and Production
Mineral and royalty production was 34,200 BOE per day, with total production volumes of 35,500 BOE per day, in line with the previous quarter. The strength in natural gas prices is expected to drive additional near-term gas-weighted activity.
Positive Developments in Shelby Trough and Haynesville
Aethon is operating 3 rigs on the company's Shelby Trough acreage, with 11 gross wells turned to sales and another 17 expected for the year. In Louisiana Haynesville, 2 incremental high-interest wells turned to sales.
Significant Acquisitions Since September 2023
The company has been active in acquiring over $160 million in minerals, focusing on the Shelby Trough, indicating a strong long-term natural gas strategy.