str-20250331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

_________________________________________________________

FORM 10-Q

____________________________________________________

(Mark One)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-41585

___________________________________________

Sitio Royalties Corp.

(Exact Name of Registrant as Specified in its Charter)

_________________________________________________________


Delaware			88-4140242
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)
1401 Lawrence Street, Suite 1750 Denver, CO			80202
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (720) 640-7620

_________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Class A common stock, par value $0.0001 per share

STR

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 2, 2025, there were 77,517,671 shares of the registrant’s Class A Common Stock, par value $0.0001 per share, outstanding and there were 73,391,244 shares of the registrant’s Class C Common Stock, par value $0.0001 per share, outstanding.

Table of Contents


		Page
	Glossary	1
PART I.	FINANCIAL INFORMATION	3

Item 1.	Financial Statements (Unaudited)	3
	Condensed Consolidated Balance Sheets	3
	Condensed Consolidated Statements of Operations	4
	Condensed Consolidated Statements of Cash Flows	5
	Condensed Consolidated Statements of Equity	6
	Notes to Unaudited Condensed Consolidated Financial Statements	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	20
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	27
Item 4.	Controls and Procedures	28

PART II.	OTHER INFORMATION	28

Item 1.	Legal Proceedings	28
Item 1A.	Risk Factors	28
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	29
Item 3.	Defaults Upon Senior Securities	29
Item 4.	Mine Safety Disclosures	29
Item 5.	Other Information	29
Item 6.	Exhibits	30
Signatures		31

GLOSSARY

The following are abbreviations and definitions of certain terms used in this document, which are commonly used in the oil and natural gas industry:

Barrel or Bbl. Stock tank barrel, or 42 U.S. gallons liquid volume, used in this quarterly report in reference to crude oil or other liquid hydrocarbons.

Basin. A large natural depression on the earth’s surface in which sediments generally brought by water accumulate.

BOE. One barrel of oil equivalent, calculated by converting natural gas to oil equivalent barrels at a ratio of six Mcf of natural gas to one Bbl of crude oil. This is an energy content correlation and does not reflect a value or price relationship between the commodities.

BOE/d. BOE per day.

British thermal unit or Btu. The quantity of heat required to raise the temperature of one pound of water by one degree Fahrenheit.

Completion. The process of treating a drilled well followed by the installation of permanent equipment for the production of natural gas or oil, or in the case of a dry hole, the reporting of abandonment to the appropriate agency.

Crude oil. Liquid hydrocarbons retrieved from geological structures underground to be refined into fuel sources.

Development costs. Costs incurred to obtain access to proved reserves and to provide facilities for extracting, treating, gathering and storing crude oil, natural gas and NGLs. For a complete definition of development costs, refer to the SEC’s Regulation S-X, Rule 4-10(a)(7).

Development project. The means by which petroleum resources are brought to the status of economically producible. As examples, the development of a single reservoir or field, an incremental development in a producing field or the integrated development of a group of several fields and associated facilities with a common ownership may constitute a development project.

Dry hole. A well found to be incapable of producing hydrocarbons in sufficient quantities such that proceeds from the sale of such production exceed production expenses and taxes.

E&P. Exploration and production.

Economically producible. The term economically producible, as it relates to a resource, means a resource that generates revenue that exceeds, or is reasonably expected to exceed, the costs of the operation. For a complete definition of economically producible, refer to the SEC’s Regulation S-X, Rule 4-10(a)(10).

Field. An area consisting of a single reservoir or multiple reservoirs all grouped on, or related to, the same individual geological structural feature or stratigraphic condition. The field name refers to the surface area, although it may refer to both the surface and the underground productive formations. For a complete definition of field, refer to the SEC’s Regulation S-X, Rule 4-10(a)(15).

Formation. A layer of rock that has distinct characteristics that differs from nearby rock.

GAAP. Generally accepted accounting principles in the United States.

Horizontal drilling. A drilling technique used in certain formations where a well is drilled vertically to a certain depth and then drilled at a right angle within a specified interval.

Horizontal wells. The number of horizontal wells, normalized to a 5,000 foot lateral length basis, where we have ownership in a mineral or royalty interest.

MBbl. Thousand barrels of crude oil or other liquid hydrocarbons.

MBOE. One thousand BOE.

Mcf. One thousand cubic feet of natural gas.

Mcf/d. Mcf per day.

MMBtu. One million British thermal units.

MMcf. One million cubic feet of natural gas.

Natural gas liquids or NGLs. Hydrocarbons found in natural gas that may be extracted as liquefied petroleum gas and natural gasoline.

Net royalty acres or NRAs. Mineral ownership standardized to a 12.5%, or 1/8th, royalty interest.

Operator. The individual or company responsible for the development and/or production of a crude oil or natural gas well or lease.

Proved reserves. Those quantities of crude oil, natural gas and NGLs that, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible—from a given date forward, from known reservoirs, and under existing economic conditions, operating methods and government regulations—prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. The project to extract the hydrocarbons must have commenced or the E&P operator must be reasonably certain that it will commence the project within a reasonable time. For a complete definition of proved crude oil and natural gas reserves, refer to the SEC’s Regulation S-X, Rule 4-10(a)(22).

Realized price. The cash market price less all expected quality, transportation and demand adjustments.

Reasonable certainty. A high degree of confidence that quantities will be recovered. For a complete definition of reasonable certainty, refer to the SEC’s Regulation S-X, Rule 4-10(a)(24).

Reserves. Estimated remaining quantities of crude oil and natural gas and related substances anticipated to be economically producible, as of a given date, by application of development projects to known accumulations. In addition, there must exist, or there must be a reasonable expectation that there will exist, the legal right to produce or a revenue interest in the production, installed means of delivering crude oil and natural gas or related substances to market and all permits and financing required to implement the project. Reserves should not be assigned to adjacent reservoirs isolated by major, potentially sealing, faults until those reservoirs are penetrated and evaluated as economically producible. Reserves should not be assigned to areas that are clearly separated from a known accumulation by a non-productive reservoir (i.e., absence of reservoir, structurally low reservoir or negative test results). Such areas may contain prospective resources (i.e., potentially recoverable resources from undiscovered accumulations).

Reservoir. A porous and permeable underground formation containing a natural accumulation of producible crude oil and/or natural gas that is confined by impermeable rock or water barriers and is individual and separate from other reservoirs.

Resources. Quantities of crude oil, natural gas and NGLs estimated to exist in naturally occurring accumulations. A portion of the resources may be estimated to be recoverable and another portion may be considered to be unrecoverable. Resources include both discovered and undiscovered accumulations.

Royalty. An interest in a crude oil and natural gas lease that gives the owner the right to receive a portion of the production from the leased acreage (or of the proceeds from the sale thereof), but does not require the owner to pay any portion of the production or development costs on the leased acreage. Royalties may be either landowner’s royalties, which are reserved by the owner of the leased acreage at the time the lease is granted, or overriding royalties, which are usually reserved by an owner of the leasehold in connection with a transfer to a subsequent owner.

SEC. U.S. Securities and Exchange Commission.

SOFR or Term SOFR rate. A borrowing rate equal to the secured overnight financing rate as administered by the Federal Reserve Bank of New York.

Spot market price. The cash market price without reduction for expected quality, transportation and demand adjustments.

Working interest. The right granted to the lessee of a property to develop, produce and own crude oil, natural gas, NGLs or other minerals. The working interest owners bear the exploration, development and operating expenses on either a cash, penalty or carried basis.

WTI. West Texas Intermediate, a grade of crude oil used as a benchmark in oil pricing.

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

Sitio Royalties Corp.

Condensed Consolidated Balance Sheets

(In thousands, except par and share amounts)


	March 31, 2025		December 31, 2024
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	1,741	$	3,290
Accrued revenue and accounts receivable	126,426		123,361
Prepaid assets	6,576		6,760
Derivative asset	472		1,811
Total current assets	135,215		135,222

Property and equipment
Oil and natural gas properties, successful efforts method:
Unproved properties	2,419,385		2,464,836
Proved properties	3,003,337		2,941,347
Other property and equipment	3,720		3,737
Accumulated depreciation, depletion, amortization, and impairment	(896,112)		(818,633)
Total property and equipment, net	4,530,330		4,591,287

Long-term assets
Deferred financing costs	7,724		8,525
Operating lease right-of-use asset	5,604		5,940
Other long-term assets	2,713		2,746
Total long-term assets	16,041		17,211

TOTAL ASSETS	$	4,681,586	$	4,743,720

LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses	$	55,868	$	46,385
Operating lease liability	1,719		1,646
Total current liabilities	57,587		48,031

Long-term liabilities
Long-term debt	1,077,119		1,078,181
Deferred tax liability	236,529		253,778
Non-current operating lease liability	5,111		5,462
Other long-term liabilities	1,150		1,150
Total long-term liabilities	1,319,909		1,338,571

Total liabilities	1,377,496		1,386,602

Commitments and contingencies (see Note 13)

Equity
Class A Common Stock, par value $0.0001 per share; 240,000,000 shares authorized; 83,321,153 and 83,205,330 shares issued and 77,993,512 and 78,980,516 outstanding at March 31, 2025 and December 31, 2024, respectively	8		8
Class C Common Stock, par value $0.0001 per share; 120,000,000 shares authorized; 73,443,992 and 73,443,992 shares issued and 73,391,244 and 73,391,244 outstanding at March 31, 2025 and December 31, 2024, respectively	8		8
Additional paid-in capital	1,683,097		1,710,372
Accumulated deficit	(136,509)		(146,792)
Class A Treasury Shares, 5,327,641 and 4,224,814 shares at March 31, 2025 and December 31, 2024, respectively	(119,376)		(96,910)
Class C Treasury Shares, 52,748 and 52,748 shares at March 31, 2025 and December 31, 2024, respectively	(1,265)		(1,265)
Noncontrolling interest	1,878,127		1,891,697
Total equity	3,304,090		3,357,118

TOTAL LIABILITIES AND EQUITY	$	4,681,586	$	4,743,720

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

Sitio Royalties Corp.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)


	Three Months Ended March 31,
	2025		2024
Revenues:
Oil, natural gas and natural gas liquids revenues	$	158,314	$	147,971
Lease bonus and other income	5,201		3,420
Total revenues	163,515		151,391

Operating expenses:
Depreciation, depletion and amortization	77,479		76,318
General and administrative	15,762		13,011
Production taxes and other	12,982		12,026
Total operating expenses	106,223		101,355

Income from operations	57,292		50,036

Other income (expense):
Interest expense, net	(23,268)		(18,510)
Commodity derivatives losses	(908)		(10,050)
Income before taxes	33,116		21,476

Income tax expense	(6,831)		(2,784)

Net income	26,285		18,692
Net income attributable to noncontrolling interest	(16,018)		(10,224)
Net income attributable to Class A stockholders	$	10,267	$	8,468

Net income per share of Class A Common Stock
Basic	$	0.13	$	0.10
Diluted	$	0.13	$	0.10

Weighted average Class A Common Stock outstanding
Basic	78,351		82,404
Diluted	78,544		82,404

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

Sitio Royalties Corp.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)


	Three Months Ended March 31,
	2025		2024
Cash flows from operating activities:
Net income	$	26,285	$	18,692
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	77,479		76,318
Amortization of deferred financing costs and long-term debt discount	1,395		1,294
Share-based compensation	6,974		5,104
Commodity derivatives losses	908		10,050
Net cash received for commodity derivatives settlements	431		3,593
Deferred tax benefit	(17,250)		(4,238)
Change in operating assets and liabilities:
Accrued revenue and accounts receivable	(3,065)		(6,228)
Prepaid assets	120		6,813
Other long-term assets	345		343
Accounts payable and accrued expenses	10,113		9,295
Operating lease liabilities and other long-term liabilities	(254)		(296)
Net cash provided by operating activities	103,481		120,740

Cash flows from investing activities:
Purchases of oil and gas properties, net of post-close adjustments	(16,858)		1,909

Deposits for property acquisitions	—		(15,000)
Other, net	(33)		(167)
Net cash used in investing activities	(16,891)		(13,258)

Cash flows from financing activities:
Borrowings on credit facilities	80,500		59,000
Repayments on credit facilities	(82,100)		(76,000)
Debt issuance costs	(53)		(48)
Distributions to noncontrolling interest	(30,143)		(38,157)
Dividends paid to Class A stockholders	(31,977)		(41,950)
Dividend equivalent rights paid	(403)		(362)
Repurchases of Class A Common Stock	(22,987)		(12,668)
Cash paid for taxes related to net settlement of share-based compensation awards	(976)		(746)
Net cash used in financing activities	(88,139)		(110,931)

Net change in cash and cash equivalents	(1,549)		(3,449)
Cash and cash equivalents, beginning of period	3,290		15,195
Cash and cash equivalents, end of period	$	1,741	$	11,746

Supplemental disclosure of non-cash transactions:
Decrease in current liabilities for additions to property and equipment:	$	(369)	$	(87)


Supplemental disclosure of cash flow information:
Cash paid for income taxes:	$	18,000	$	11
Cash paid for interest expense:	9,821		5,180

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

Sitio Royalties Corp.

Condensed Consolidated Statements of Equity

(In thousands, except per share amounts)

(Unaudited)


	Class A			Class C			Additional Paid-in Capital		Accumulated Deficit		Class A			Class C			Noncontrolling Interest		Total Equity
	Common Stock			Common Stock							Treasury Shares			Treasury Shares
	Shares	Amount		Shares	Amount						Shares	Amount		Shares	Amount
Balance at January 1, 2024	82,451	$	8	74,965	$	8	$	1,796,147	$	(187,738)	—	$	—	(26)	$	(677)	$	1,987,526	$	3,595,274
Net income	—	—		—	—		—		8,468		—	—		—	—		10,224		18,692
Share-based compensation	—	—		—	—		4,543		—		—	—		—	—		561		5,104
Conversion of Class C Common Stock to Class A Common Stock	135	—		(135)	—		3,265		—		—	—		—	—		(3,265)		—
Issuance of Class A Common Stock upon vesting of share-based awards, net of shares withheld for income taxes	50	—		—	—		(607)		—		—	—		—	—		—		(607)
Change in deferred taxes from conversion of Class C Common Stock to Class A Common Stock	—	—		—	—		(73)		—		—	—		—	—		—		(73)
Dividends to Class A stockholders	—	—		—	—		(41,950)		—		—	—		—	—		—		(41,950)
Dividend equivalent rights	—	—		—	—		(376)		—		—	—		—	—		—		(376)
Distributions to noncontrolling interest	—	—		—	—		—		—		—	—		—	—		(38,157)		(38,157)
Repurchases of Class A Common Stock	—	—		—	—		—		—		(546)	(13,057)		—	—		—		(13,057)
Balance at March 31, 2024	82,636	$	8	74,830	$	8	$	1,760,949	$	(179,270)	(546)	$	(13,057)	(26)	$	(677)	$	1,956,889	$	3,524,850


	Class A			Class C			Additional Paid-in Capital		Accumulated Deficit		Class A			Class C			Noncontrolling Interest		Total Equity
	Common Stock			Common Stock							Treasury Shares			Treasury Shares
	Shares	Amount		Shares	Amount						Shares	Amount		Shares	Amount
Balance at January 1, 2025	83,205	$	8	73,444	$	8	$	1,710,372	$	(146,792)	(4,225)	$	(96,910)	(53)	$	(1,265)	$	1,891,697	$	3,357,118
Net income	—	—		—	—		—		10,267		—	—		—	—		16,018		26,285
Share-based compensation	—	—		—	—		6,419		—		—	—		—	—		555		6,974

Issuance of Class A Common Stock upon vesting of share-based awards, net of shares withheld for income taxes	116	—		—	—		(1,314)		—		—	—		—	—		—		(1,314)

Dividends to Class A stockholders	—	—		—	—		(31,977)		—		—	—		—	—		—		(31,977)
Dividend equivalent rights	—	—		—	—		(403)		16		—	—		—	—		—		(387)
Distributions to noncontrolling interest	—	—		—	—		—		—		—	—		—	—		(30,143)		(30,143)
Repurchases of Class A Common Stock	—	—		—	—		—		—		(1,103)	(22,466)		—	—		—		(22,466)
Balance at March 31, 2025	83,321	$	8	73,444	$	8	$	1,683,097	$	(136,509)	(5,328)	$	(119,376)	(53)	$	(1,265)	$	1,878,127	$	3,304,090

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

Sitio Royalties Corp.

Notes to Unaudited Condensed Consolidated Financial Statements

Note 1. Basis of Presentation

The unaudited condensed consolidated financial statements of Sitio Royalties Corp., together with its wholly-owned subsidiaries and any entities in which the company owns a controlling interest (collectively, “Sitio” or the “Company”), including Sitio Royalties Operating Partnership, LP (“Sitio OpCo”), have been prepared pursuant to the rules and regulations of the SEC applicable to interim financial information. Accordingly, such consolidated financial statements reflect all adjustments (consisting of normal and recurring accruals) which are, in the opinion of management, necessary for a fair presentation of the financial results for the interim periods presented. Certain information and notes normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. However, management believes that the disclosures included either on the face of the financial statements or in these notes are sufficient to make the interim information presented not misleading. The accompanying unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 26, 2025 (the “Annual Report”).

The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The results of operations for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2025.

Except as otherwise indicated or required by the context, all references in this quarterly report to the “Company,” “Sitio,” “we,” “us,” “our” or similar terms refer to Sitio Royalties Corp. and its subsidiaries.

Note 2. Summary of Significant Accounting Policies

Significant accounting policies are disclosed in the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2024, presented in the Annual Report. There have been no material changes in such policies or the application of such policies during the three months ended March 31, 2025.

Recently Issued Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information related to the effective tax rate reconciliation as well as information on income taxes paid. This ASU is effective for annual periods beginning after December 15, 2024, and requires prospective application with the option to apply the standard retrospectively. We are currently evaluating the impact of the ASU on our consolidated financial statements. This standard only modifies disclosure requirements; as such, there will be no impact on our consolidated results of operations, financial position or cash flows.

In November 2024, the FASB issued ASU 2024-03, Income Statement (Subtopic 220-40): Reporting Comprehensive Income - Expense Disaggregation Disclosures, which requires disclosure of additional information about specific expense categories underlying certain income statement expense line items. This ASU is effective for annual periods beginning after December 15, 2026, and requires either prospective or retrospective application. We are currently evaluating the impact of the ASU on our consolidated financial statements.

Accounts payable and accrued expenses

The Company’s accounts payable and accrued expenses consisted of the following as of the dates indicated (in thousands):


	March 31, 2025		December 31, 2024
Accrued interest expense	$	21,115	$	9,064
Ad valorem taxes payable	3,181		12,281
Payable to seller for pre-effective monies	3,927		3,393
Accrued general and administrative	3,177		2,006
Income taxes payable	22,998		16,918
Other taxes payable	1,316		1,117
Other	154		1,606
Total accounts payable and accrued expenses	$	55,868	$	46,385

Note 3. Revenue from Contracts with Customers

Oil, natural gas and natural gas liquids revenues

During the three months ended March 31, 2025 and 2024, the disaggregated revenues from sales of oil, natural gas and NGLs were as follows (in thousands):


	For the Three Months Ended March 31,
	2025		2024
Crude oil sales	$	119,536	$	127,293
Natural gas sales	16,319		5,787
NGLs sales	22,459		14,891
Total royalty revenues	$	158,314	$	147,971

Note 4. Oil and Natural Gas Properties

The following is a summary of oil and natural gas properties as of March 31, 2025 and December 31, 2024 (in thousands):


Oil and natural gas properties:	March 31, 2025		December 31, 2024
Unproved properties	$	2,419,385	$	2,464,836
Proved properties	3,003,337		2,941,347
Oil and natural gas properties, gross	5,422,722		5,406,183
Accumulated depletion and impairment	(894,011)		(816,664)
Oil and natural gas properties, net	$	4,528,711	$	4,589,519

As presented in the unaudited condensed consolidated statements of cash flows for the three months ended March 31, 2025, the Company paid $16.9 million for purchases of oil and gas properties, net of post-close adjustments. For the three months ended March 31, 2024, the Company received proceeds of $1.9 million related to purchase price adjustments from prior acquisitions, net of acquisition costs.

Depletion expense was $77.3 million and $76.2 million for the three months ended March 31, 2025 and 2024, respectively.

Note 5. Acquisitions and Divestitures

For the three months ended March 31, 2025, the Company closed on acquisitions of oil and gas properties for an aggregate purchase price of $20.6 million, prior to the impact of purchase price adjustments, the significant majority of which was allocated to proved properties.

Note 6. Debt

The following is a summary of long-term debt as of March 31, 2025 and December 31, 2024 (in thousands):


	As of March 31, 2025		As of December 31, 2024
Sitio Revolving Credit Facility	$	486,200	$	487,800
2028 Senior Notes	600,000		600,000
Less: 2028 Senior Notes unamortized issuance costs	(9,081)

SEC Form 10-Q filed by Sitio Royalties Corp.