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OFFON

BRIGHAM MINERALS, INC.

(MNRL)
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Brigham Minerals, Inc. : Announces Appointment of A. Lance Langford to the Board of Directors

08/12/2020 | 04:17pm EST

Brigham Minerals, Inc. (NYSE: MNRL) (“Brigham Minerals,” “Brigham,” or the “Company”), a leading mineral and royalty interest acquisition company, today announced that it has appointed a new independent director, A. Lance Langford, to the Company’s Board of Directors, effective immediately. Mr. Langford’s appointment increases the size of the board of directors to ten members.

Ben M. (“Bud”) Brigham, Executive Chairman commented, “On behalf of Brigham’s Directors, I am excited to welcome Lance to our Board. He is a proven value creator with extensive expertise across the oil and gas value chain from upstream and midstream, all the way to mineral acquisitions. Lance’s hands on experience building a large mineral portfolio and visionary leadership will be invaluable to our focus on continual improvement while also adding thoughtful insight to our strategic vision for the future.”

Mr. Langford is a director of Atlas Sand Company, LLC. He was the CEO, Co-Founder, and director of Luxe Energy LLC and Luxe Minerals LLC from 2015 to 2020. Prior to that, he served as Senior Vice President for Statoil ASA (now Equinor ASA – NYSE: EQNR) from 2011 to 2015. From 1995 to 2011, Mr. Langford built and led Brigham Exploration Company’s (NASDAQ: BEXP) engineering, operations, marketing, and midstream departments ultimately serving as Executive Vice President - Operations at the time the company was purchased by Statoil ASA. He started his engineering career with Burlington Resources from 1987 to 1995. Mr. Langford earned a Bachelor of Science in Petroleum Engineering from Texas Tech University.

Robert M. (“Rob”) Roosa, Chief Executive Officer, added, “Lance and his team revolutionized the Williston Basin at Brigham Exploration by pioneering significant advances in completion techniques through cutting edge adoption of some of the very first long lateral well bores with 20 + frac stages. These technologies and Lance’s operational leadership were instrumental in BEXP’s resource play value creation for its shareholder in 2011. I’m excited about Lance’s appointment to the Board and believe he will contribute extensively to Brigham Minerals’ becoming the preeminent diversified mineral company in the United States.”

ABOUT BRIGHAM MINERALS, INC.

Brigham Minerals is an Austin, Texas, based company that acquires and actively manages a portfolio of mineral and royalty interests in the core of some of the most active, highly economic, liquids-rich resource basins across the continental United States. Brigham Minerals’ assets are located in the Permian Basin in Texas and New Mexico, the SCOOP and STACK plays in the Anadarko Basin of Oklahoma, the DJ Basin in Colorado and Wyoming, and the Williston Basin in North Dakota. The Company’s primary business objective is to maximize risk-adjusted total return to its shareholders by both capturing organic growth in its existing assets as well as leveraging its highly experienced technical evaluation team to continue acquiring minerals.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including production and other guidance included within this press release. These statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include, but are not limited to, continued downturns or delays in resuming operator activity due to commodity price fluctuations, the Company’s ability to integrate acquisitions into its existing business, changes in oil, natural gas and NGL prices, weather and environmental conditions, the timing of planned capital expenditures, availability of acquisitions, operational factors affecting the commencement or maintenance of producing wells on the Company’s properties, the condition of the capital markets generally, as well as the Company’s ability to access them, the proximity to and capacity of transportation and storage facilities, uncertainties regarding environmental regulations or litigation, global or national health events, including the ongoing spread and economic effects of the ongoing COVID-19 pandemic, potential future pandemics, the actions of the Organization of Petroleum Exporting Countries and other significant producers and governments and the ability of such producers to agree to and maintain oil price and production controls and other legal or regulatory developments affecting the Company’s business and other important factors. These and other applicable uncertainties, factors and risks are described more fully in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2019, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, the Company’s actual results and plans could differ materially from those expressed in any forward-looking statements.

Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise except as required by applicable law.


ę Business Wire 2020
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Financials (USD)
Sales 2021 161 M - -
Net income 2021 59,5 M - -
Net Debt 2021 59,4 M - -
P/E ratio 2021 18,4x
Yield 2021 7,00%
Capitalization 1 009 M 1 009 M -
EV / Sales 2021 6,64x
EV / Sales 2022 4,89x
Nbr of Employees 43
Free-Float 78,1%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 21,21 $
Average target price 26,64 $
Spread / Average Target 25,6%
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Managers and Directors
Robert M. Roosa Chief Executive Officer & Director
Blake C. Williams CFO & Principal Accounting Officer
Ben M. Brigham Executive Chairman
W. Howard Keenan Independent Director
James R. Levy Independent Director
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