CALGARY, AB, Feb. 21, 2024 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that it has been recognized by the TSX Venture Exchange (the “TSXV”) as a 2024 Top 50 company. The TSX Venture 50 showcases the strongest performance on the TSXV over the last year. Comprised of 10 companies from five industry sectors, the ranking is based on market capitalization growth, share price appreciation and trading volume. More details can be found at: www.tsx.com/Venture50.
“We are proud to be named as a top performing TSXV company in the energy sector. Our balanced growth and yield business model allowed us to materially expand and diversify our portfolio of royalty production and lands, while also paying a strong dividend to shareholders, which was increased by 20% in 2023”, stated Brad Docherty, President & CEO.
Source Rock is a pure-play oil and gas royalty company with an existing portfolio of oil royalty interests concentrated in southeast Saskatchewan, central Alberta and west-central Saskatchewan. Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock’s strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.