Freehold Royalties Reports Strong Q2 Results with Higher Commodity Prices
Freehold Royalties reported second-quarter funds from operations of C$78 million, a 30% sequential increase driven by higher commodity prices and increased drilling activity. The company returned C$44 million to shareholders through dividends while reducing net debt to C$251 million. Production averaged 15,622 barrels of oil equivalent per day (BOE), with liquids making up 66% of the total volume. Freehold maintained its full-year production guidance at 15,500–16,300 BOE/day and reported a 35% increase in drilling activity compared to Q1. The company expanded its royalty portfolio through acquisitions in the Permian Basin while managing capital allocation across purchases, debt reduction, dividends, and potential buybacks. Improved gas takeaway capacity also helped ease production constraints.
Topics: commodities debt_reduction dividends energy