Overview

* PrairieSky Q3 revenue totals $114.8 mln

* Funds from operations decreased 3% yr/yr due to lower US$ WTI pricing

* Company repurchased 2.7 mln shares for $66.5 mln under NCIB

Outlook

* Company expects continued royalty production growth from Clearwater and Duvernay plays

* PrairieSky plans to continue share repurchases under normal course issuer bid

* Company aims to sustain dividend payout ratio

Result Drivers

* OIL ROYALTY PRODUCTION - Growth driven by Duvernay light oil wells in West Shale Basin

* CLEARWATER DEVELOPMENT - Waterfloods in Clearwater play helped mitigate production declines

* MULTILATERAL DRILLING - Record multilateral wells spud, contributing to increased activity

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$114.80

Revenue mln

Q3 Net C$45.90

Income mln

Q3 FFO C$90 mln

Q3 Net C$281.70

Debt mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

* Wall Street's median 12-month price target for Prairiesky Royalty Ltd ( PREKF ) is C$29.00, about 14.5% above its October 17 closing price of C$24.80

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)