Falcon Minerals Corporation Reports Results for Third Quarter 2021 and Declares Quarterly Dividend
Falcon Minerals Corporation Reports Results for Third Quarter 2021 and Declares Quarterly Dividend
NEW YORK--(BUSINESS WIRE)--Falcon Minerals Corporation ("Falcon," or the "Company," "we," "our,") (NASDAQ: FLMN, FLMNW), a leading oil and gas minerals company, today announces financial and operating results for the third quarter 2021 and declares its third quarter 2021 dividend.
紐約--(美國商業資訊)--領先的石油和天然氣礦產公司--獵鷹礦業公司(“獵鷹”，或“公司”，“我們”，“我們的”)(納斯達克：FLMN，FLMNW)今天公佈了2021年第三季度的財務和經營業績，並宣佈了2021年第三季度的股息。
Highlights
亮點
- Net production of 4,535 barrels of oil equivalent per day ("Boe/d") for the third quarter 2021
- Averaged 4 rigs running on Falcon's Eagle Ford position during the third quarter 2021
- 62 gross wells (0.31 net) were turned in line during the third quarter 2021
- 140 gross line-of-sight wells (1.57 net) permitted and in active development as of November 1, 2021 on the Company's Eagle Ford position
- Received $1.1 million of lease bonus revenue in the Marcellus Shale during the third quarter 2021
- Third quarter 2021 net income of $10.5 million(1)
- Adjusted EBITDA of $14.7 million for the third quarter 2021(2)
- Pro-forma Free Cash Flow increased to $13.9 million in the third quarter 2021(2)
- Third quarter 2021 dividend declared of $0.155 per share
- Dividend will be paid on December 8, 2021 to all shareholders of record on November 23, 2021
- 2021年第三季度日淨產量4535桶油當量(“boe/d”)
- 2021年第三季度，平均有4個鑽井平臺在獵鷹的鷹福特位置運行
- 2021年第三季度，62口總油井(淨額0.31口)完成了調整
- 截至2021年11月1日，公司鷹灘陣地允許的140口視線井(淨額1.57口)，並正在積極開發中
- 2021年第三季度在馬塞盧斯頁巖獲得110萬美元的租賃紅利收入
- 2021年第三季度淨收入為1050萬美元(1)
- 2021年第三季度調整後的EBITDA為1,470萬美元(2)
- 預計2021年第三季度自由現金流增至1390萬美元(2)
- 2021年第三季度宣佈的股息為每股0.155美元
- 股息將於2021年12月8日支付給2021年11月23日登記在冊的所有股東
|
(1) |
Net income shown above includes amounts attributable to non-controlling interests. | |
|
(2) |
Please refer to the disclosure on pages 6-7 for a reconciliation of the identified non-GAAP measures to net income, the most comparable financial measure prepared in accordance with GAAP. |
|
(1) |
以上顯示的淨收入包括可歸因於非控股權益的金額。 | |
|
(2) |
請參閲第6-7頁的披露，以對已確定的非GAAP衡量標準與淨收入的對賬，這是根據GAAP編制的最具可比性的財務衡量標準。 |
Bryan C. Gunderson, President and Chief Executive Officer of Falcon Minerals commented, "Falcon's assets performed as expected in the third quarter, exceeding the high end of the free cash flow per share guidance range provided to investors in August." Mr. Gunderson continued saying, "Falcon's oil-weighted Eagle Ford assets and high payout ratio afforded shareholders the immediate benefits of the pricing environment we have experienced since the summer. In addition, we are pleased to see our assets in the Marcellus make a meaningful contribution this quarter through more than $1 million in new lease bonuses. Looking ahead, we are excited for Falcon's future as operators finalize 2022 budgets with the strength of the current commodity backdrop influencing plans for next year."
獵鷹礦業總裁兼首席執行官布萊恩·C·甘德森評論説：“獵鷹的資產在第三季度的表現符合預期，超過了8月份提供給投資者的每股自由現金流指導區間的高端。”甘德森先生繼續説道：“獵鷹公司以石油為主的鷹福特資產和較高的派息率為股東帶來了直接的好處，這是我們自今年夏天以來所經歷的定價環境。此外，我們很高興看到我們在馬塞盧斯的資產在本季度通過100多萬美元的新租賃獎金做出了有意義的貢獻。展望未來，隨着運營商敲定2022年的預算，加上當前大宗商品背景對明年計劃的影響，我們對獵鷹公司的未來感到興奮。”
Matthew B. Ockwood, Falcon's Chief Financial Officer added, "Falcon's financial position continues to be strong in the third quarter. Net debt to LTM EBITDA now sits at 0.74x and should fall further as we approach year end. With our high-quality balance sheet and attractive cash margins, we are pleased to announce a sequential increase in the quarterly dividend to $0.155 per share. The third quarter dividend represents a payout ratio of 97% of the Company's available free cash flow per share of $0.16."
獵鷹公司首席財務官馬修·B·奧克伍德補充説：“獵鷹公司第三季度的財務狀況繼續保持強勁。淨債務與LTM息税折舊攤銷前利潤之比目前為0.74倍，在接近年底時應該會進一步下降。憑藉我們高質量的資產負債表和誘人的現金利潤率，我們很高興地宣佈將季度股息增加到每股0.155美元。第三季度股息相當於公司每股可用自由現金流0.16美元的97%。”
Financial Results
財務業績
Falcon realized prices of $69.61 per barrel ("bbl") for crude oil, $3.65 per thousand cubic feet ("mcf") for natural gas and $33.92/bbl for natural gas liquids ("NGL") during the third quarter 2021.
在2021年第三季度，Falcon實現了原油價格每桶69.61美元，天然氣每千立方英尺3.65美元，天然氣液體每桶33.92美元。
Falcon reported net income of $10.5 million, or $0.12 of net income per Class A common share, for the third quarter 2021, which includes amounts attributable to non-controlling interests. Falcon generated royalty revenue of $19.1 million (approximately 71% oil) and lease bonus revenue of $1.1 million for the third quarter 2021. The Company reported Adjusted EBITDA (a non-GAAP measure defined and reconciled on pages 6-7) of $14.7 million for the third quarter 2021.
獵鷹公佈2021年第三季度淨收入為1050萬美元，或每股A類普通股淨收入0.12美元，其中包括可歸因於非控股權益的金額。獵鷹公司2021年第三季度的特許權使用費收入為1910萬美元(約佔石油收入的71%)，租賃獎金收入為110萬美元。該公司報告2021年第三季度調整後EBITDA(在第6-7頁定義和核對的非GAAP衡量標準)為1,470萬美元。
Cash operating costs consisting of production and ad valorem taxes and marketing and transportation expenses for the third quarter 2021 were $1.5 million. General and administrative expense for the third quarter 2021, excluding non-cash stock-based compensation, was approximately $2.7 million.
2021年第三季度，包括生產和從價税以及營銷和運輸費用在內的現金運營成本為150萬美元。2021年第三季度的一般和行政費用，不包括基於非現金股票的薪酬，約為270萬美元。
As of September 30, 2021, the Company had $36.5 million of borrowings on its revolving credit facility, and $3.6 million of cash on hand, resulting in net debt of approximately $32.9 million at the end of the quarter. Falcon's net debt / LTM EBITDA ratio was 0.74x as of September 30, 2021. (3)
截至2021年9月30日，該公司在其循環信貸安排上有3650萬美元的借款，手頭有360萬美元的現金，導致本季度末的淨債務約為3290萬美元。截至2021年9月30日，獵鷹的淨債務/LTM EBITDA比率為0.74倍。 (3)
|
(3) |
Calculated by dividing the sum of total debt outstanding less cash on hand as of September 30, 2021 by Adjusted EBITDA for the trailing 12-month period. Please refer to the disclosure on pages 6-7 for the Reconciliation of net income to Non-GAAP Measures. |
|
(3) |
計算方法是將截至2021年9月30日的未償債務總額減去手頭現金之和除以過去12個月期間的調整後EBITDA。請參閲第6-7頁關於將淨收入與非公認會計準則措施進行對賬的披露。 |
Third Quarter 2021 Dividend
2021年第三季度股息
Falcon's Board of Directors declared a dividend of $0.155 per Class A share for the third quarter 2021. During the third quarter 2021, the Company generated Pro-forma Free Cash Flow of $13.9 million, or $0.16 per share (as described and reconciled on page 6-7). The dividend for the third quarter 2021 will be paid on December 8, 2021 to all Class A shareholders of record on November 23, 2021. The third quarter 2021 dividend does not have any effect on the current $11.34 exercise price of the Company's outstanding warrants.
獵鷹公司董事會宣佈，2021年第三季度A類股每股派息0.155美元。在2021年第三季度，公司產生了1390萬美元的預計自由現金流，或每股0.16美元(如第6-7頁所述和對賬)。2021年第三季度的股息將於2021年12月8日支付給2021年11月23日登記在冊的所有A類股東。2021年第三季度的股息對公司已發行認股權證目前11.34美元的行權價沒有任何影響。
The Company expects that greater than 50% of its 2021 dividends will not constitute taxable dividend income and instead will result in a non-taxable reduction to the tax basis of the shareholders' common stock. The reduced tax basis will increase a shareholders' capital gain (or decrease shareholders' capital loss) when shareholders' sell their common stock.
該公司預計，其2021年股息的50%以上將不構成應納税股息收入，相反，將導致股東普通股的納税基礎不應納税的減少。當股東出售普通股時，降低的税基將增加股東的資本收益(或減少股東的資本損失)。
Operational Results
運營結果
Falcon's production averaged 4,535 Boe/dduring the third quarter 2021, of which approximately 47% was oil. Eagle Ford production was approximately 57% oil during the third quarter 2021. Falcon had 62 gross wells turned in line (0.31 net wells) with an average net royalty interest ("NRI") of approximately 0.5% during the third quarter 2021.
獵鷹的平均日產量為4535頭2021年第三季度，其中約47%是石油。2021年第三季度，Eagle Ford的產量約為57%的石油。2021年第三季度，Falcon擁有62口總油井(0.31口淨油井)，平均淨特許權使用費利息(NRI)約為0.5%。
Falcon currently has 2,225 gross producing Eagle Ford wells, and the Company's average NRI for all producing wells is approximately 1.26%. As of November 1, 2021, the Company had 140 line-of-sight wells (1.57 net wells) with an average NRI of 1.12% in various stages of development on Falcon's Eagle Ford minerals position. These wells are comprised of the following:
獵鷹公司目前擁有2225口總產量的鷹福特油井，該公司所有生產油井的平均淨資產收益率約為1.26%。截至2021年11月1日，公司在獵鷹的鷹福特礦產位置的不同開發階段擁有140口視線井(1.57口淨井)，平均淨資產收益率為1.12%。這些油井包括以下幾個部分：
Line-of-Sight Wells (As of November 1, 2021)
視線威爾斯(截至2021年11月1日)
| Stage of Activity |
Gross Wells |
Net Wells |
NRI % |
| Permitted |
73 |
0.93 |
1.27% |
| Waiting on completion |
63 |
0.63 |
1.00% |
| Waiting on connection |
4 |
0.02 |
0.47% |
| Total line-of-sight |
140 |
1.57 |
1.12% |
| 活動階段 |
格羅斯·韋爾斯 |
淨水井 |
NRI% |
| 允許的 |
73 |
0.93 |
1.27% |
| 等待完工 |
63 |
0.63 |
1.00% |
| 正在等待連接 |
4 |
0.02 |
0.47% |
| 總視距 |
140 |
1.57 |
1.12% |
Conference Call Details
電話會議詳細信息
Falcon management invites investors and interested parties to listen to the conference call to discuss third quarter 2021 results on Thursday, November 4, 2021 at 9:00 am ET. Participants for the conference call should dial (888) 567-1602 (International: (862) 298-0702). A replay of the Falcon earnings call will be available starting at 2:00 pm ET on November 4, 2021. Investors and interested parties can listen to the replay on www.falconminerals.com in the Events page of the Investor Relations section or call (888) 539-4649 (International: (754) 333-7735). At the system prompt, dial your replay code (156513#); playback will automatically begin.
獵鷹管理層邀請投資者和感興趣的各方參加2021年11月4日(星期四)美國東部時間上午9點舉行的討論2021年第三季度業績的電話會議。電話會議的與會者請撥打(888)567-1602(國際：(862)298-0702)。獵鷹收益電話會議將於美國東部時間2021年11月4日下午2點開始重播。投資者和感興趣的各方可以在投資者關係部分的活動頁面上收聽重播，或致電(888)539-4649(國際：(754)333-7735)。在系統提示時，撥打您的重播代碼(156513#)；播放將自動開始。
About Falcon Minerals
關於獵鷹礦業公司
Falcon Minerals Corporation (NASDAQ: FLMN, FLMNW) is a C-Corporation formed to own and acquire high growth oil-weighted mineral rights. Falcon Minerals owns mineral, royalty, and over-riding royalty interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas. The Company also owns approximately 80,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio, and West Virginia. For more information, visit our website at www.falconminerals.com.
獵鷹礦業公司(納斯達克股票代碼：FLMN)是一家擁有和獲得高增長石油權重礦業權的C級公司。Falcon Minerals擁有礦產、特許權使用費和最高特許權使用費權益，在德克薩斯州卡恩斯、德維特和岡薩雷斯的Eagle Ford Shale和Austin Chalk擁有約256,000英畝的總單位英畝。該公司還在賓夕法尼亞州、俄亥俄州和西弗吉尼亞州的馬塞盧斯頁巖擁有約8萬英畝的總單位英畝。欲瞭解更多信息，請訪問我們的網站，網址：www.Falconminals.com。
Cautionary Note Regarding Forward-Looking Statements
有關前瞻性陳述的注意事項
This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Falcon cautions readers not to place any undue reliance on these forward-looking statements as forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, future dividends paid, the tax treatment of dividends paid, Falcon's plans, initiatives, objectives, expectations and intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; the COVID-19 pandemic and its impact on Falcon and on the oil and gas industry as a whole; Falcon's ability to realize the anticipated benefits of its acquisitions; changes in commodity prices; uncertainties about estimates of reserves and resource potential; inability to obtain capital needed for operations; Falcon's ability to meet financial covenants under its credit agreement or its ability to obtain amendments or waivers to effect such compliance; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production in Falcon's regions; tax consequences of business transactions; and other risks, assumptions and uncertainties detailed from time to time in Falcon's reports filed with the U.S. Securities and Exchange Commission, including under the heading "Risk Factors" in Falcon's most recent annual report on Form 10-K as well as any subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date hereof, and Falcon assumes no obligation to update such statements, except as may be required by applicable law.
本文件包含涉及許多假設、風險和不確定因素的前瞻性陳述，這些假設、風險和不確定因素可能導致實際結果與前瞻性陳述中包含的結果大不相同。Falcon告誡讀者不要過度依賴這些前瞻性陳述，因為前瞻性信息不能保證未來的表現。此類前瞻性陳述包括但不限於有關未來財務和經營業績、未來支付的股息、支付股息的税務處理、獵鷹公司的計劃、舉措、目標、預期和意圖的陳述，以及其他非歷史事實的陳述。可能導致實際結果與前瞻性表述大不相同的風險、假設和不確定性包括但不限於：與總體經濟和商業狀況相關的風險、假設和不確定性；新冠肺炎疫情及其對獵鷹和整個石油天然氣行業的影響；獵鷹公司實現收購預期效益的能力；大宗商品價格的變化；對儲量和資源潛力估計的不確定性；無法獲得運營所需的資金；獵鷹公司根據其信貸協議履行財務契約的能力，或獲得修正案或豁免以實現這種遵守的能力；政府環境政策的變化以及其他環境風險；Falcon地區鑽井設備的可用性和生產時間；商業交易的税收後果；以及Falcon在提交給美國證券交易委員會的報告中不時詳細説明的其他風險、假設和不確定性, 包括在Falcon最近的Form 10-K年度報告以及隨後提交的Form 10-Q季度報告和當前Form 8-K報告中的“風險因素”標題下。前瞻性陳述僅代表截至本新聞稿發佈之日的情況，除非適用法律要求，否則Falcon不承擔更新此類陳述的義務。
| FALCON MINERALS CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| (Unaudited) | |||||||||||||||
|
Three Months Ended |
Nine Months Ended | ||||||||||||||
|
September 30, |
September 30, | ||||||||||||||
|
2021 |
2020 |
2021 |
2020 | ||||||||||||
| Revenues: | |||||||||||||||
| Oil and gas sales |
$ |
19,130 |
$ |
9,942 |
$ |
52,227 |
$ |
29,848 | |||||||
| Lease bonus and other revenue |
1,110 |
- |
1,162 |
- | |||||||||||
| Loss on hedging activities |
(1,026 |
) |
(273 |
) |
(5,510 |
) |
(463 |
) | |||||||
| Total revenue |
19,214 |
9,669 |
47,879 |
29,385 | |||||||||||
| Expenses: | |||||||||||||||
| Production and ad valorem taxes |
1,078 |
745 |
2,985 |
2,205 | |||||||||||
| Marketing and transportation |
466 |
562 |
1,330 |
1,567 | |||||||||||
| Amortization of royalty interests in oil & gas properties |
3,870 |
3,542 |
11,082 |
10,485 | |||||||||||
| General, administrative and other |
3,249 |
2,806 |
9,063 |
8,618 | |||||||||||
| Total expenses |
8,663 |
7,655 |
24,460 |
22,875 | |||||||||||
| Operating income |
10,551 |
2,014 |
23,419 |
6,510 | |||||||||||
| Other income (expense): | |||||||||||||||
| Change in fair value of warrant liability |
1,669 |
971 |
(740 |
) |
6,856 | ||||||||||
| Other income |
13 |
31 |
38 |
94 | |||||||||||
| Interest expense |
(477 |
) |
(490 |
) |
(1,452 |
) |
(1,706 |
) | |||||||
| Total other income (expense) |
1,205 |
512 |
(2,154 |
) |
5,244 | ||||||||||
| Income before income taxes |
11,756 |
2,526 |
21,265 |
11,754 | |||||||||||
| Provision for income taxes |
1,277 |
243 |
3,024 |
400 | |||||||||||
| Net income |
10,479 |
2,283 |
18,241 |
11,354 | |||||||||||
| Net income attributable to non-controlling interests |
(4,671 |
) |
(723 |
) |
(10,198 |
) |
(2,278 |
) | |||||||
| Net income attributable to shareholders |
$ |
5,808 |
$ |
1,560 |
$ |
8,043 |
$ |
9,076 | |||||||
| Class A common shares - basic |
$ |
0.12 |
$ |
0.03 |
$ |
0.17 |
$ |
0.20 | |||||||
| Class A common shares - diluted |
$ |
0.11 |
$ |
0.02 |
$ |
0.17 |
$ |
0.13 | |||||||
| 獵鷹礦業公司 | |||||||||||||||
| 簡明合併業務報表 | |||||||||||||||
| (以千為單位，每股除外) | |||||||||||||||
| (未經審計) | |||||||||||||||
|
截至三個月 |
九個月結束 | ||||||||||||||
|
9月30日， |
9月30日， | ||||||||||||||
|
2021 |
2020 |
2021 |
2020 | ||||||||||||
| 收入： | |||||||||||||||
| 石油和天然氣銷售 |
$ |
19,130 |
$ |
9,942 |
$ |
52,227 |
$ |
29,848 | |||||||
| 租賃紅利和其他收入 |
1,110 |
- |
1,162 |
- | |||||||||||
| 套期保值活動損失 |
(1,026 |
) |
(273 |
) |
(5,510 |
) |
(463 |
) | |||||||
| 總收入 |
19,214 |
9,669 |
47,879 |
29,385 | |||||||||||
| 費用： | |||||||||||||||
| 生產税和從價税 |
1,078 |
745 |
2,985 |
2,205 | |||||||||||
| 市場營銷和交通運輸 |
466 |
562 |
1,330 |
1,567 | |||||||||||
| 石油和天然氣資產特許權使用費權益的攤銷 |
3,870 |
3,542 |
11,082 |
10,485 | |||||||||||
| 一般、行政和其他 |
3,249 |
2,806 |
9,063 |
8,618 | |||||||||||
| 總費用 |
8,663 |
7,655 |
24,460 |
22,875 | |||||||||||
| 營業收入 |
10,551 |
2,014 |
23,419 |
6,510 | |||||||||||
| 其他收入(支出)： | |||||||||||||||
| 認股權證負債的公允價值變動 |
1,669 |
971 |
(740 |
) |
6,856 | ||||||||||
| 其他收入 |
13 |
31 |
38 |
94 | |||||||||||
| 利息支出 |
(477 |
) |
(490 |
) |
(1,452 |
) |
(1,706 |
) | |||||||
| 其他收入(費用)合計 |
1,205 |
512 |
(2,154 |
) |
5,244 | ||||||||||
| 所得税前收入 |
11,756 |
2,526 |
21,265 |
11,754 | |||||||||||
| 所得税撥備 |
1,277 |
243 |
3,024 |
400 | |||||||||||
| 淨收入 |
10,479 |
2,283 |
18,241 |
11,354 | |||||||||||
| 可歸於非控股權益的淨收入 |
(4,671 |
) |
(723 |
) |
(10,198 |
) |
(2,278 |
) | |||||||
| 股東應佔淨收益 |
$ |
5,808 |
$ |
1,560 |
$ |
8,043 |
$ |
9,076 | |||||||
| A類普通股-基本 |
$ |
0.12 |
$ |
0.03 |
$ |
0.17 |
$ |
0.20 | |||||||
| A類普通股-稀釋後 |
$ |
0.11 |
$ |
0.02 |
$ |
0.17 |
$ |
0.13 | |||||||
| FALCON MINERALS CORPORATION | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| (In thousands) | |||||
| (Unaudited) | |||||
|
September 30, |
December 31, | ||||
| ASSETS |
2021 |
2020 | |||
| Current assets: | |||||
| Cash and cash equivalents |
$ |
3,561 |
$ |
2,724 | |
| Accounts receivable |
9,575 |
5,419 | |||
| Prepaid expenses |
1,078 |
766 | |||
| Total current assets |
14,214 |
8,909 | |||
| Royalty interests in oil & gas properties, net of accumulated amortization |
197,695 |
207,505 | |||
| Property and equipment, net of accumulated depreciation |
348 |
427 | |||
| Deferred tax asset, net |
53,056 |
55,773 | |||
| Other assets |
2,225 |
3,015 | |||
| Total assets |
$ |
267,538 |
$ |
275,629 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
| Current liabilities: | |||||
| Accounts payable and accrued expenses |
$ |
4,735 |
$ |
1,540 | |
| Other current liabilities |
3,180 |
1,557 | |||
| Total current liabilities |
7,915 |
3,097 | |||
| Credit facility |
36,500 |
39,800 | |||
| Warrant liability |
4,244 |
3,503 | |||
| Other non-current liabilities |
632 |
828 | |||
| Total liabilities |
49,291 |
47,228 | |||
| Shareholders' equity: | |||||
| Class A common stock |
5 |
5 | |||
| Class C common stock |
4 |
4 | |||
| Additional paid in capital |
120,695 |
121,053 | |||
| Non-controlling interests |
85,834 |
88,637 | |||
| Retained earnings |
11,709 |
18,702 | |||
| Total shareholders' equity |
218,247 |
228,401 | |||
| Total liabilities and shareholders' equity |
$ |
267,538 |
$ |
275,629 | |
| 獵鷹礦業公司 | |||||
| 合併資產負債表 | |||||
| (單位：千) | |||||
| (未經審計) | |||||
|
9月30日， |
十二月三十一日， | ||||
| 資產 |
2021 |
2020 | |||
| 流動資產： | |||||
| 現金和現金等價物 |
$ |
3,561 |
$ |
2,724 | |
| 應收賬款 |
9,575 |
5,419 | |||
| 預付費用 |
1,078 |
766 | |||
| 流動資產總額 |
14,214 |
8,909 | |||
| 石油和天然氣資產特許權使用費權益，累計攤銷淨額 |
197,695 |
207,505 | |||
| 財產和設備，累計折舊後的淨額 |
348 |
427 | |||
| 遞延税項淨資產 |
53,056 |
55,773 | |||
| 其他資產 |
2,225 |
3,015 | |||
| 總資產 |
$ |
267,538 |
$ |
275,629 | |
| 負債和股東權益 | |||||
| 流動負債： | |||||
| 應付賬款和應計費用 |
$ |
4,735 |
$ |
1,540 | |
| 其他流動負債 |
3,180 |
1,557 | |||
| 流動負債總額 |
7,915 |
3,097 | |||
| 信貸安排 |
36,500 |
39,800 | |||
| 認股權證法律責任 |
4,244 |
3,503 | |||
| 其他非流動負債 |
632 |
828 | |||
| 總負債 |
49,291 |
47,228 | |||
| 股東權益： | |||||
| A類普通股 |
5 |
5 | |||
| C類普通股 |
4 |
4 | |||
| 額外實收資本 |
120,695 |
121,053 | |||
| 非控制性權益 |
85,834 |
88,637 | |||
| 留存收益 |
11,709 |
18,702 | |||
| 股東權益總額 |
218,247 |
228,401 | |||
| 總負債和股東權益 |
$ |
267,538 |
$ |
275,629 | |
Non-GAAP Financial Measures
非公認會計準則財務指標
Adjusted EBITDA and Pro-forma Free Cash Flow are supplemental non-GAAP financial measures used by management and external users of our financial statements, such as industry analysts, investors, lenders, and rating agencies. We believe Adjusted EBITDA and Pro-forma Free Cash Flow are useful because they allow us to evaluate our performance and compare the results of our operations period to period without regard to our financing methods or capital structure. In addition, management uses Adjusted EBITDA and Pro-forma Free Cash Flow to evaluate cash flow available to pay dividends to our common shareholders.
調整後的EBITDA和預計自由現金流是我們財務報表的管理層和外部用户(如行業分析師、投資者、貸款人和評級機構)使用的補充非GAAP財務指標。我們相信，調整後的EBITDA和預計自由現金流是有用的，因為它們允許我們評估我們的業績，並將我們的運營期間的結果與我們的融資方式或資本結構無關。此外，管理層使用調整後的EBITDA和預計自由現金流量來評估可用於向我們的普通股股東支付股息的現金流。
We define Adjusted EBITDA as net income before interest expense, net, depletion and depreciation expense, provision for income taxes, change in fair value of warrant liability, unrealized gains and losses on commodity derivative instruments and non-cash equity-based compensation. We define Pro-forma Free Cash Flow as net income before depletion and depreciation expense, provision for income taxes, change in fair value of warrant liability, unrealized gains and losses on commodity derivative instruments and non-cash equity-based compensation less interest expense and cash income taxes. Adjusted EBITDA and Pro-forma Free Cash Flow are not measures of net income as determined by GAAP. We exclude the items listed above from net income in calculating Adjusted EBITDA and Pro-forma Free Cash Flow because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Certain items excluded from Adjusted EBITDA and Pro-forma Free Cash Flow are significant components in understanding and assessing a company's financial performance, such as a company's cost of capital and tax structure, as well as historic costs of depreciable assets, none of which are components of Adjusted EBITDA and Pro-forma Free Cash Flow.
我們將經調整EBITDA界定為扣除利息開支、淨額、損耗及折舊開支、所得税準備、認股權證負債公允價值變動、商品衍生工具未實現損益及非現金權益補償前的淨收益。我們將預計自由現金流量定義為扣除損耗和折舊費用前的淨收益、所得税準備、認股權證負債的公允價值變動、商品衍生工具的未實現損益和基於非現金權益的補償減去利息支出和現金所得税。調整後的EBITDA和預計自由現金流量不是GAAP確定的淨收入的衡量標準。我們在計算經調整的EBITDA和預計自由現金流量時，將上述項目從淨收入中剔除，因為這些金額在我們行業內的不同公司之間可能會有很大差異，這取決於資產的會計方法和賬面價值、資本結構和收購資產的方法。調整後EBITDA和預計自由現金流中不包括的某些項目是瞭解和評估公司財務業績的重要組成部分，例如公司的資本成本和税收結構，以及折舊資產的歷史成本，這些都不是調整後EBITDA和預計自由現金流的組成部分。
Adjusted EBITDA and Pro-forma Free Cash Flow should not be considered an alternative to, or more meaningful than, net income, royalty income, cash flow from operating activities or any other measure of financial performance presented in accordance with GAAP. Our computations of Adjusted EBITDA and Pro-forma Free Cash Flow may not be comparable to other similarly titled measures of other companies.
調整後的EBITDA和預計自由現金流量不應被視為淨收益、特許權使用費收入、經營活動現金流量或根據公認會計準則列報的任何其他財務業績指標的替代指標，也不應比這些指標更有意義。我們對調整後EBITDA和預計自由現金流的計算可能無法與其他公司的其他類似標題衡量標準相比較。
Reconciliation of Net Income to Adjusted EBITDA and Pro-forma Free Cash Flow
(in thousands, except per share amounts):
淨收益與調整後的EBITDA和預計自由現金流量的對賬
(以千為單位，每股除外)：
| Fully Converted | |||||||
| Three Months | Per Share Basis | ||||||
| Ended | Three Months Ended | ||||||
| September 30, 2021 | September 30, 2021 (1) | ||||||
| Net income |
$ |
10,479 |
$ |
0.12 | |||
| Interest expense (2) |
477 |
0.01 | |||||
| Depletion and depreciation |
3,896 |
0.04 | |||||
| Share-based compensation |
545 |
0.01 | |||||
| Unrealized gain on commodity derivatives |
(267 |
) |
(0.00 |
) | |||
| Change in fair value of warrant liability |
(1,669 |
) |
(0.02 |
) | |||
| Income tax expense |
1,277 |
0.01 | |||||
| Adjusted EBITDA |
$ |
14,738 |
$ |
0.17 | |||
| Interest expense (2) |
(477 |
) |
(0.01 |
) | |||
| Pro-forma cash income taxes (3) |
(404 |
) |
(0.00 |
) | |||
| Pro-forma Free Cash Flow |
$ |
13,857 |
$ |
0.16 | |||
| 完全轉換 | |||||||
| 三個月 | 以每股為基準 | ||||||
| 告一段落 | 截至三個月 | ||||||
| 2021年9月30日 | 2021年9月30日(1) | ||||||
| 淨收入 |
$ |
10,479 |
$ |
0.12 | |||
| 利息支出(2) |
477 |
0.01 | |||||
| 損耗和折舊 |
3,896 |
0.04 | |||||
| 基於股份的薪酬 |
545 |
0.01 | |||||
| 商品衍生品的未實現收益 |
(267 |
) |
(0.00 |
) | |||
| 認股權證負債的公允價值變動 |
(1,669 |
) |
(0.02 |
) | |||
| 所得税費用 |
1,277 |
0.01 | |||||
| 調整後的EBITDA |
$ |
14,738 |
$ |
0.17 | |||
| 利息支出(2) |
(477 |
) |
(0.01 |
) | |||
| 預計現金所得税(3) |
(404 |
) |
(0.00 |
) | |||
| 預計自由現金流 |
$ |
13,857 |
$ |
0.16 | |||
|
(1) |
Per share information is presented on a fully converted basis of 86.9 million common shares which is inclusive of 46.3 million Class A common shares, 40.0 million Class C common shares and 0.6 million unvested restricted stock awards that are outstanding as of September 30, 2021. As such, net income per fully converted share in this schedule is not comparable to net income per share of $0.12 for the period ended September 30, 2021 as shown on the Condensed Consolidated Statements of Operations. | |
|
(2) |
Interest expense includes amortization of deferred financing costs. | |
|
(3) |
Pro-forma cash income taxes are estimated on a pro-rata basis and therefore based upon net income before non-controlling interest considerations. |
|
(1) |
每股信息是在8690萬股普通股的完全轉換基礎上提供的，其中包括4630萬股A類普通股、4000萬股C類普通股和60萬股截至2021年9月30日尚未發行的未歸屬限制性股票獎勵。因此，本附表中完全轉換的每股淨收益與截至2021年9月30日的每股淨收益0.12美元不可比，如簡明綜合經營報表所示。 | |
|
(2) |
利息支出包括遞延融資成本的攤銷。 | |
|
(3) |
預計現金所得税是按比例估計的，因此基於扣除非控制利息因素之前的淨收入。 |
Calculation of cash available for dividends for the third quarter 2021 (in thousands):
2021年第三季度可用於分紅的現金計算(千)：
| Three Months Ended | ||||
| September 30, | ||||
|
2021 | ||||
| Adjusted EBITDA |
$ |
14,738 | ||
| Interest expense (2) |
(477 |
) | ||
| Pro-forma cash taxes (3) |
(404 |
) | ||
| Net cash available for distribution |
$ |
13,857 | ||
| Cash to be distributed to non-controlling interests |
$ |
6,387 | ||
| Cash to be distributed to Falcon Minerals Corp. (4) |
$ |
7,405 | ||
| Dividends to be paid to Class A shareholders |
$ |
7,188 | ||
| 截至三個月 | ||||
| 9月30日， | ||||
|
2021 | ||||
| 調整後的EBITDA |
$ |
14,738 | ||
| 利息支出(2) |
(477 |
) | ||
| 預計現金税(3) |
(404 |
) | ||
| 可供分配的現金淨額 |
$ |
13,857 | ||
| 將現金分配給非控制性權益 |
$ |
6,387 | ||
| 現金將分配給獵鷹礦業公司(4) |
$ |
7,405 | ||
| 須支付予A類股東的股息 |
$ |
7,188 | ||
|
(1) |
Interest expense includes amortization of deferred financing costs. | |
|
(2) |
Pro-forma cash income taxes are estimated on a pro-rata basis and therefore based upon net income before non-controlling interest considerations. | |
|
(3) |
Includes approximately $217k of cash for current income taxes at Falcon Minerals Corporation. |
|
(1) |
利息支出包括遞延融資成本的攤銷。 | |
|
(2) |
預計現金所得税是按比例估計的，因此基於扣除非控制利息因素之前的淨收入。 | |
|
(3) |
包括獵鷹礦業公司約2.17億美元的現金當期所得税。 |
| FALCON MINERALS CORPORATION | |||||||||||
| SELECTED OPERATING DATA | |||||||||||
| (Unaudited) | |||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||
| September 30, | September 30, | ||||||||||
|
2021 |
2020 |
2021 |
2020 | ||||||||
| Production Data: | |||||||||||
| Oil (bbls) |
194,845 |
197,652 |
600,884 |
656,326 | |||||||
| Natural gas (Mcf) |
985,012 |
899,399 |
2,841,167 |
2,642,963 | |||||||
| Natural gas liquids (bbls) |
58,209 |
63,821 |
171,292 |
188,297 | |||||||
| Combined volumes (boe) |
417,223 |
411,373 |
1,245,704 |
1,285,117 | |||||||
| Average daily combined volume (boe/d) |
4,535 |
4,471 |
4,563 |
4,690 | |||||||
| Average sales prices: | |||||||||||
| Oil (bbls) |
$ |
69.61 |
$ |
36.91 |
$ |
63.78 |
$ |
34.65 | |||
| Natural gas (mcf) |
$ |
3.65 |
$ |
1.98 |
$ |
3.22 |
$ |
1.88 | |||
| Natural gas liquids (bbls) |
$ |
33.92 |
$ |
13.58 |
$ |
27.76 |
$ |
11.42 | |||
| Combined per boe |
$ |
45.86 |
$ |
24.17 |
$ |
41.93 |
$ |
23.24 | |||
| Average costs ($/boe): | |||||||||||
| Production and ad valorem taxes |
$ |
2.58 |
$ |
1.81 |
$ |
2.40 |
$ |
1.72 | |||
| Marketing and transportation expense |
$ |
1.12 |
$ |
1.37 |
$ |
1.07 |
$ |
1.22 | |||
| Cash general and administrative expense |
$ |
6.42 |
$ |
4.59 |
$ |
7.36 |
$ |
4.90 | |||
| Interest expense, net |
$ |
1.14 |
$ |
1.19 |
$ |
1.17 |
$ |
1.33 | |||
| Depletion |
$ |
9.28 |
$ |
8.61 |
$ |
8.90 |
$ |
8.16 | |||
| 獵鷹礦業公司 | |||||||||||
| 選定的運行數據 | |||||||||||
| (未經審計) | |||||||||||
| 截至三個月 | 九個月結束 | ||||||||||
| 9月30日， | 9月30日， | ||||||||||
|
2021 |
2020 |
2021 |
2020 | ||||||||
| 生產數據： | |||||||||||
| 石油(BBLS) |
194,845 |
197,652 |
600,884 |
656,326 | |||||||
| 天然氣(McF) |
985,012 |
899,399 |
2,841,167 |
2,642,963 | |||||||
| 天然氣液體(BBLS) |
58,209 |
63,821 |
171,292 |
188,297 | |||||||
| 合併卷(Boe) |
417,223 |
411,373 |
1,245,704 |
1,285,117 | |||||||
| 日均結合量(boe/d) |
4,535 |
4,471 |
4,563 |
4,690 | |||||||
| 平均售價： | |||||||||||
| 石油(BBLS) |
$ |
69.61 |
$ |
36.91 |
$ |
63.78 |
$ |
34.65 | |||
| 天然氣(Mcf) |
$ |
3.65 |
$ |
1.98 |
$ |
3.22 |
$ |
1.88 | |||
| 天然氣液體(BBLS) |
$ |
33.92 |
$ |
13.58 |
$ |
27.76 |
$ |
11.42 | |||
| 每個boe合計 |
$ |
45.86 |
$ |
24.17 |
$ |
41.93 |
$ |
23.24 | |||
| 平均成本(美元/boe)： | |||||||||||
| 生產税和從價税 |
$ |
2.58 |
$ |
1.81 |
$ |
2.40 |
$ |
1.72 | |||
| 營銷費和交通費 |
$ |
1.12 |
$ |
1.37 |
$ |
1.07 |
$ |
1.22 | |||
| 現金一般和行政費用 |
$ |
6.42 |
$ |
4.59 |
$ |
7.36 |
$ |
4.90 | |||
| 利息支出，淨額 |
$ |
1.14 |
$ |
1.19 |
$ |
1.17 |
$ |
1.33 | |||
| 耗盡 |
$ |
9.28 |
$ |
8.61 |
$ |
8.90 |
$ |
8.16 | |||
Falcon Minerals Contact:
獵鷹礦業公司聯繫人：
Matthew B. Ockwood
Chief Financial Officer
mockwood@falconminerals.com
馬修·B·奧克伍德
首席財務官
郵箱：moockwood@forconminals.com
譯文內容由第三人軟體翻譯。