Sitio Royalties Corp.

sitio.com

What Do They Do?

Leases oil and gas exploration rights and collects royalties on oil, natural gas and natural gas liquids produced by operators on its acreage.

How Do They Make Money?

Oil and gas operators pay Sitio royalties when oil, natural gas and natural gas liquids are produced and sold; payment typically arrives within 30 to 90 days after the month of delivery. Operators also pay lease bonuses when Sitio executes a lease agreement.

FY2024 revenue

Who Are Their Customers?

Oil and gas exploration and production operators lease Sitio's mineral interests and sell the resulting production; about 142 operators produce from its acreage.

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2024.

Operating income, FY2024

33% of revenue

▲ +474% vs FY2023 ($35.4M, 6%)

Net income, FY2024

7% of revenue

▲ Now profitable vs FY2023 (−$15.5M, −3%)

How Are They Changing?

Since the FY2024 annual report

Latest quarter: Q2 FY2025, the three months to Jun 30, 2025

Revenue: ▼ −14%; vs $168.5M in Q2 FY2024
Net income: ▼ −43%; vs $12.9M in Q2 FY2024

Aug 19, 2025 Sitio merged with Viper Energy, ending its standalone public listing. Sitio stockholders received shares in New Viper; the combined company operates as Viper Energy, Inc.

Growing. Revenue grew 13.7x in 4 years, from $45.7M in FY2020 to $624.4M in FY2024, about 92% a year.

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