Investors
Investors
Events and Presentations
Investor Day 2023 Replay: Click Here
Royalty Playbook & Presentation Archive
Corporate Presentations |
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Corporate Presentation – October 2024 |
Event Dates | |
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Q4 2023 & Annual Results | February 12, 2024 |
Q1 2024 Results | April 22, 2024 |
AGM | April 22, 2024 |
Q2 2024 Results | July 15, 2024 |
Q3 2024 Results | October 28, 2024 |
Q4 2024 & Annual Results | February 10, 2025 |
Dividend Information
The amount of cash to be distributed will be determined at the discretion of the Board. The declaration and payment is approved by the Board of Directors after consideration of numerous factors including:
- the earnings of the Company;
- financial requirements for the Company’s operations;
- the satisfaction by the company of liquidity and insolvency
tests described in the ABCA, and; - any agreements relating to the Company’s indebtedness
that restrict the declaration and payment of dividends.
Dividend Schedule
Declared Date |
Payment Date |
Record Date |
Total |
---|---|---|---|
13-Mar-23 | 14-Apr-23 | 31-Mar-23 | $0.24 |
6-Jun-23 | 17-Jul-23 | 30-Jun-23 | $0.24 |
11-Sep-23 | 16-Oct-23 | 29-Sept-23 | $0.24 |
5-Dec-23 | 15-Jan-24 | 29-Dec-23 | $0.24 |
11-Mar-24 | 15-Apr-24 | 28-Mar-24 | $0.25 |
4-Jun-24 | 15-Jul-24 | 28-Jun-24 | $0.25 |
9-Sept-24 | 15-Oct-24 | 27-Sept-24 | $0.25 |
Dividend Reinvestment Plan
On February 29, 2016, PrairieSky announced that the dividend reinvestment plan was suspended effective for the March 31, 2016 record date.
PrairieSky Dividend Reinvestment Plan View Document
Stock Dividend Program
On February 29, 2016, PrairieSky announced that the stock dividend program was suspended effective for the March 31, 2016 record date.
PrairieSky Stock Dividend Program View Document
Historical Dividend Information
2024
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
11-Mar-24 | 28-Mar-24 | 15-Apr-24 | $0.25 |
4-Jun-24 | 28-Jun-24 | 15-Jul-24 | $0.25 |
9-Sept-24 | 27-Sept-24 | 15-Oct-24 | $0.25 |
2023
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
13-Mar-23 | 31-Mar-23 | 14-Apr-23 | $0.24 |
6-Jun-23 | 30-Jun-23 | 17-Jul-23 | $0.24 |
11-Sep-23 | 29-Sep-23 | 16-Oct-23 | $0.24 |
5-Dec-23 | 29-Dec-23 | 15-Jan-24 | $0.24 |
2022
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
07-Mar-22 | 31-Mar-22 | 14-Apr-14 | $0.12 |
07-Jun-22 | 30-Jun-22 | 15-Jul-22 | $0.12 |
12-Sept-22 | 30-Sept-22 | 14-Oct-22 | $0.12 |
06-Dec-22 | 30-Dec-22 | 16-Jan-23 | $0.24 |
2021
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
09-Mar-21 | 31-Mar-21 | 15-Apr-21 | 0.065 |
07-Jun-21 | 30-Jun-21 | 15-Jul-21 | 0.065 |
07-Sept-21 | 30-Sept-21 | 15-Oct-21 | 0.090 |
08-Dec-21 | 31-Dec-21 | 17-Jan-22 | 0.090 |
2020
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
07-Dec-20 | 31-Dec-20 | 15-Jan-21 | 0.06 |
09-Sep-20 | 30-Sep-20 | 15-Oct-20 | 0.06 |
10-Jun-20 | 30-Jun-20 | 15-Jul-20 | 0.06 |
16-Mar-20 | 31-Mar-20 | 15-Apr-20 | 0.065 |
06-Feb-20 | 28-Feb-20 | 16-Mar-20 | 0.065 |
09-Jan-20 | 31-Jan-20 | 18-Feb-20 | 0.065 |
2019
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
10-Dec-19 | 31-Dec-19 | 15-Jan-19 | 0.065 |
8-Nov-19 | 29-Nov-19 | 16-Dec-19 | 0.065 |
3-Oct-19 | 31-Oct-19 | 15-Nov-19 | 0.065 |
10-Sep-19 | 30-Sep-19 | 15-Oct-19 | 0.065 |
8-Aug-19 | 30-Aug-19 | 16-Sep-19 | 0.065 |
10-Jul-19 | 31-Jul-19 | 15-Aug-19 | 0.065 |
10-Jun-19 | 28-Jun-19 | 15-Jul-19 | 0.065 |
10-May-19 | 31-May-19 | 17-Jun-19 | 0.065 |
9-Apr-19 | 30-Apr-19 | 15-May-19 | 0.065 |
8-Mar-19 | 29-Mar-19 | 15-Apr-19 | 0.065 |
14-Feb-19 | 28-Feb-19 | 15-Mar-19 | 0.065 |
11-Jan-19 | 31-Jan-19 | 15-Feb-19 | 0.065 |
2018
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
12-Dec-18 | 31-Dec-18 | 15-Jan-19 | 0.065 |
13-Nov-18 | 30-Nov-18 | 17-Dec-18 | 0.065 |
10-Oct-18 | 31-Oct-18 | 15-Nov-18 | 0.065 |
10-Sep-18 | 28-Sep-18 | 15-Oct-18 | 0.065 |
14-Aug-18 | 31-Aug-18 | 17-Sep-18 | 0.065 |
11-Jul-18 | 31-Jul-18 | 15-Aug-18 | 0.065 |
13-Jun-18 | 29-Jun-18 | 16-Jul-18 | 0.065 |
15-May-18 | 31-May-18 | 15-Jun-18 | 0.065 |
13-Apr-18 | 30-Apr-18 | 15-May-18 | 0.065 |
16-Mar-18 | 29-Mar-18 | 16-Apr-18 | 0.065 |
16-Feb-18 | 28-Feb-18 | 15-Mar-18 | 0.0625 |
16-Jan-18 | 31-Jan-18 | 15-Feb-18 | 0.0625 |
2017
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
15-Dec-17 | 29-Dec-17 | 15-Jan-18 | 0.0625 |
16-Nov-17 | 30-Nov-17 | 15-Dec-17 | 0.0625 |
13-Oct-17 | 31-Oct-17 | 15-Nov-17 | 0.0625 |
15-Sep-17 | 29-Sep-17 | 16-Oct-17 | 0.0625 |
16-Aug-17 | 31-Aug-17 | 15-Sep-17 | 0.0625 |
20-Jul-17 | 31-Jul-17 | 15-Aug-17 | 0.0625 |
16-Jun-17 | 30-Jun-17 | 17-Jul-17 | 0.0625 |
16-May-17 | 31-May-17 | 15-Jun-17 | 0.0625 |
17-Apr-17 | 28-Apr-17 | 15-May-17 | 0.0625 |
13-Mar-17 | 31-Mar-17 | 17-Apr-17 | 0.0625 |
16-Feb-17 | 28-Feb-17 | 15-Mar-17 | 0.06 |
13-Jan-17 | 31-Jan-17 | 15-Feb-17 | 0.06 |
2016
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
16-Dec-16 | 30-Dec-16 | 16-Jan-17 | 0.06 |
15-Nov-16 | 30-Nov-16 | 15-Dec-16 | 0.06 |
18-Oct-16 | 31-Oct-16 | 15-Nov-16 | 0.06 |
16-Sep-16 | 30-Sep-16 | 17-Oct-16 | 0.06 |
15-Aug-16 | 31-Aug-16 | 15-Sep-16 | 0.06 |
18-Jul-16 | 29-Jul-16 | 15-Aug-16 | 0.06 |
15-Jun-16 | 30-Jun-16 | 15-Jul-16 | 0.06 |
16-May-16 | 31-May-16 | 15-Jun-16 | 0.06 |
14-Apr-16 | 29-Apr-16 | 16-May-16 | 0.06 |
17-Mar-16 | 31-Mar-16 | 15-Apr-16 | 0.06 |
16-Feb-16 | 29-Feb-16 | 15-Mar-16 | 0.10833 |
19-Jan-16 | 29-Jan-16 | 15-Feb-16 | 0.10833 |
2015
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
17-Dec-15 | 31-Dec-15 | 15-Jan-16 | 0.10833 |
17-Nov-15 | 30-Nov-15 | 15-Dec-15 | 0.10833 |
19-Oct-15 | 30-Oct-15 | 16-Nov-15 | 0.10833 |
21-Sep-15 | 30-Sep-15 | 15-Oct-15 | 0.10833 |
18-Aug-15 | 31-Aug-15 | 15-Sep-15 | 0.10833 |
14-Jul-15 | 31-Jul-15 | 17-Aug-15 | 0.10833 |
16-Jun-15 | 30-Jun-15 | 15-Jul-15 | 0.10833 |
13-May-15 | 29-May-15 | 15-Jun-15 | 0.10833 |
16-Apr-15 | 30-Apr-15 | 19-May-15 | 0.10833 |
17-Mar-15 | 31-Mar-15 | 15-Apr-15 | 0.10833 |
13-Feb-15 | 28-Feb-15 | 16-Mar-15 | 0.10833 |
20-Jan-15 | 30-Jan-15 | 17-Feb-15 | 0.10833 |
2014
Declared Date |
Record Date |
Payable Date |
Total |
---|---|---|---|
15-Dec-14 | 31-Dec-14 | 15-Jan-15 | 0.1058 |
18-Nov-14 | 28-Nov-14 | 15-Dec-14 | 0.1058 |
21-Oct-14 | 31-Oct-14 | 17-Nov-14 | 0.1058 |
9-Sep-14 | 30-Sep-14 | 15-Oct-14 | 0.1058 |
19-Aug-14 | 29-Aug-14 | 15-Sep-14 | 0.1058 |
22-Jul-14 | 31-Jul-14 | 15-Aug-14 | 0.1058 |
19-Jun-14 | 30-Jun-14 | 15-Jul-14 | 0.1058 |
Financial Reports
Financial Reports Archive
All publicly-disclosed documents are also readily available on SEDAR, the electronic filing system for the disclosure of documents of public companies across Canada at www.sedar.com.
Shareholder Meeting
& Proxy Materials
Shareholder Meeting & Proxy Materials Archives
All publicly-disclosed documents are also readily available on SEDAR, the electronic filing system for the disclosure of documents of public companies across Canada at www.sedar.com.
Tax Information
Canadian Income Tax
Dividends paid on the common shares will be designated as “eligible dividends” for Canadian income tax purposes, unless otherwise notified. If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.
Non-Resident Tax
Non-Resident Withholding Tax
U.S. Residents
Shareholders who are United States taxpayers should discuss with their tax advisors the reporting requirements with respect to owning shares in a PFIC. In order to allow shareholders the ability to make a Qualified Electing Fund election, PrairieSky posts annually a PFIC Annual Information Statement on its website. Shareholders should contact their own tax advisors for information on correctly completing Form 8621. This information is not available from PrairieSky.
U.S. Tax Information
2023
2023 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
2022 Amended
2022 Amended PFIC Annual Information Statement > View the document
2022
2022 PFIC Annual Information Statement > View the document
2021
2021 PFIC Annual Information Statement > View the document
2020
2020 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
2019
2019 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
2018
2018 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
2017
2017 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
2016
2016 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
2015
2015 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
2014
2014 PFIC Annual Information Statement > View the document
Report of Organizational Actions Affecting Basis of Securities
(8937 Form) > View the document
PrairieSky Frequently Asked Questions
What are Fee Lands and how did PrairieSky Royalty Ltd. (“PrairieSky”) come to own them?
Fee Lands are PrairieSky’s fee simple mineral title lands prospective for petroleum, natural gas, NGL and certain other minerals. A fee simple interest is the highest form of rights associated with land ownership, and is effectively the same as the Crown (government). Fee simple mineral title ownership is not subject to expiration,
surrender or termination and is effectively perpetual. A history of how PrairieSky came to own this acreage can be found on our
website at: prairiesky.com/history.
Does the Crown sell any mineral rights, i.e. create more fee simple acreage?
The Crown does not sell mineral rights, and there is a finite amount of fee simple acreage held by parties other than the Crown. PrairieSky is the single biggest owner of Fee Lands in Alberta and Saskatchewan with approximately 9.7 million acres with petroleum and natural gas rights.
What is a Gross Overriding Royalty (GORR)?
GORR interests are royalty interests that are granted out of and are attached to a leasehold or working interest (a lease or license issued by the Crown or the fee simple mineral title owner). A GORR interest is considered an “interest in land” and is therefore not subject to expiration, surrender or termination provided the underlying leasehold interest remains in good standing in accordance with its terms.
The term “overriding” refers to the fact that the royalty is paid by the lessee/working interest owner in addition to the royalty reserved to the lessor.
A GORR interest can be created in many different ways, including as a result of: (i) one party farming out the working interest rights to another party in exchange for retaining a GORR on production from the lands under the farmout agreement; (ii) one party providing capital to another party in exchange for a GORR; (iii) one party, as owner of certain Fee Lands that are in a checkerboard fashion, receiving a GORR on offsetting acreage, in exchange for allowing drilling by third parties of longer horizontal wells across sections that include portions of Fee Lands; (iv) where a third party has reviewed the Company’s seismic data and acquired a lease or license in respect of the Crown mineral rights underlying such data; or (v) various other contractual arrangements.
Substantially all PrairieSky’s 8.3 million acres of GORR interests are attached to Crown leases and licenses.
How does a GORR differ from Fee Lands?
Fee Land is effectively perpetual and will never expire. The continued existence of the Fee Lands is not contingent on the actions of a third party. By contrast, a GORR is tied to the duration of the underlying lease or license, and therefore terminates upon the expiration, surrender or termination of the underlying lease. The continuation of a lease is typically dependent on the holder thereof continuing to produce hydrocarbons and maintain the lease in good standing.
How many acres of land does PrairieSky own?
PrairieSky owns 9.7 million acres of Fee Lands with petroleum and natural gas rights and 8.3 million acres of GORR Lands.
Does PrairieSky drill wells?
Does PrairieSky own the surface rights associated with the Fee Lands?
No, PrairieSky’s only owns the mineral titles associated with sub-surface minerals, and has no legal obligations, liabilities or entitlements associated with surface ownership.
Access to surface locations for the purpose of conducting oil and gas operations is handled by the Lessee (operator), not PrairieSky, and is typically handled through negotiation with the holder of the surface rights or obtaining a right of entry order granted by the Surface Rights Board. For more information see http://surfacerights.alberta.ca/.
Would PrairieSky consider buying working interest production and/or becoming an operator?
As a royalty-only company, we are focused on leasing lands and are not in competition with other operators.
What is the Royalty Advantage?
The royalty advantage is a very high margin cash flow stream through all cycles, as PrairieSky has no operating costs, no Crown royalties and no finding and development costs.
PrairieSky collects royalties on all production from its Fee and GORR Lands. PrairieSky holds fee simple mineral title to over 11 million stratified, leasable, undeveloped acres which we expect will be developed in the future. Because PrairieSky owns the Fee Lands in perpetuity, we expect to receive the benefit of future technological advancements and new discoveries with no associated capital investment.
How much capital does PrairieSky have to spend to maintain its production?
Any capital investment decisions made by PrairieSky are discretionary and is limited to acquisition opportunities.
How long is a PrairieSky lease?
PrairieSky lease terms vary but in general range from a 1 to 5 year primary term and set out specific geological zones which the lessee can drill for oil and/or natural gas. A well is required to be drilled and producing in order for the lease to continue past the primary term. If there is no producing well, the lands are returned to PrairieSky which can then lease out the lands to another party. If a well is drilled and producing, the lessee will keep its lease for the producing zone past the primary term for as long as the well is producing and the lessee otherwise maintains the lease in good standing. These lands are “held by production”. All other zones, deeper or shallower, are returned to PrairieSky who can then lease these lands out to other parties. Because the mineral rights return to PrairieSky, Fee Lands are continually recycled.
What royalty rate does PrairieSky charge to lessees?
What is PrairieSky’s average corporate royalty rate?
PrairieSky’s average corporate royalty rate is approximately 6.2% YTD at September 3o, 2024. PrairieSky’s standard leasing rates on Fee Lands are 17.5% for oil and 15% for natural gas. PrairieSky receives a 5% royalty on its shallow natural gas which makes up approximately 18% of natural gas production. PrairieSky units have royalties averaging approximately 1%. PrairieSky’s GORR royalties range from approximately 1%-6%. Although there are certain GORRs at higher rates, combining the production from over 42,000 producing wells at the above royalty rates results in the average corporate royalty rate of approximately 6.2%.
PrairieSky has certain Fee Land leases as well as GORRs at rates both higher and lower than the royalty rates listed above.
Why do operators choose to drill on PrairieSky lands versus Crown lands?
PrairieSky’s Fee Land is a geologically diverse portfolio that spans the entire stratigraphic column from surface to basement (over 11 million stratified leaseable acres). There are significant advantages to leasing PrairieSky lands.
One key advantage is reduced lead times. In order to acquire leases from the Crown, the lands must be posted at a Crown land sale. The process from posting to sale is approximately 4-4.5 months. At a Crown land sale, the highest bid wins. Even if a company posts land for a Crown land sale, the process to acquire the land is a blind competitive bid which adds significant risk to the process. When dealing with PrairieSky, we negotiate with the producer and can issue a lease in as short as a week. There is significant value in the short lead time and certainty.
A second key advantage is that PrairieSky has ~20,100 km2 of 3D seismic and ~54,200 km of 2D seismic over its lands which is available for review. In addition, PrairieSky’s geoscience and engineering team is dedicated to exploration and prospect development which are available to potential lessees. Access to prospects and seismic enhances development economics and significantly reduces a lessee’s risk profile by allowing an upfront evaluation of lands which generates realistic and executable commitments and increases the likelihood of optimally placed well locations by lessees, potentially increasing production and resulting royalty revenue to the Company.
How does PrairieSky lease lands to operators?
Is PrairieSky focused on one or two plays? What is the homogeneity of the geology on PrairieSky lands?
Why doesn’t PrairieSky provide guidance?
PrairieSky collects Lease Issuance Bonus and Lease Rentals. What are these other types of revenues?
Lease Issuance Bonus is an upfront payment made to acquire a lease. It is similar to the upfront payment that is paid to acquire a lease from the Crown. The bonus amount will vary by lease based on activity in the area, term of the lease and any upfront capital commitments made by the lessee.
What is compliance revenue?
PrairieSky speaks of PPAs. What is a PPA?
How many staff does PrairieSky have?
PrairieSky has approximately 66 full time employees at year end 2023. All of PrairieSky’s staff are in our Calgary head office. We have no field staff as we have no field operations.
Does PrairieSky pay a dividend?
Yes, PrairieSky pays a dividend. Please see the Investor page for more details.
For further information regarding PrairieSky, please see our website as well as our profile on www.sedarplus.com.
FORWARD-LOOKING STATEMENTS
This document may include certain statements regarding PrairieSky’s future plans and operations and forward-looking statements that we believe allow readers to better understand our business and prospects. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends”, “strategy” and similar expressions are intended to identify forward-looking information or statements.
By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond our control. These risks are described in detail in PrairieSky’s MD&A, and the Annual Information Form for the period ended December 31, 2023 under the headings “Risk Management” and “Risk Factors”, respectively, each of which is available at www.sedarplus.com. The forward-looking information and statements contained in this document are expressly qualified by the cautionary statement contained in the documents mentioned above.