Falcon Minerals Corporation reports first quarter financial results and declares quarterly dividends

Falcon Minerals Corporation reports first quarter financial results and declares quarterly dividends

First quarter 2021 net income of $0.5 million(1) Line-of-sight inclusive of 109 gross and 0.94 net wells that are DUCs or waiting to be connected Adjusted EBITDA of $9.5 million for the first quarter 2021(2)

Averaged 5 rigs running on Falcon’s Eagle Ford position during the first quarter 2021 60 gross, 1.23 net wells were turned in line during the first quarter 2021

203 gross line-of-sight wells (2.04 net wells) permitted and in active development as of April 19, 2021 Net production of 4,116 barrels of oil equivalent per day (“boe/d”) for the first quarter 2021

Dividend will be paid on June 8, 2021 to all shareholders of record on May 25, 2021
(1)
Dividend represents a payout ratio of 97% of Pro-forma Free Cash Flow in the first quarter 2021

First quarter 2021 dividend declared of $0.10 per share; dividend represents a 33% increase from fourth quarter 2020 First quarter 2021 Pro-forma Free Cash Flow of $0.103 per share(2)

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