PrairieSky owns the largest independent fee-title mineral and gross-overriding-royalty land base in Western Canada — ~9.9 million acres of fee petroleum/natural-gas title plus ~8.7 million acres of GORR interests — and collects royalty revenue on production drilled and operated by third parties. With no capital or operating costs of its own, the model converts nearly all revenue to cash flow, sustaining an EBITDA margin near 95% and a growing dividend.
FY2025 delivered record oil royalty production and ~11% year-over-year royalty volume growth, generating C$448M revenue, C$437M EBITDA, C$205M net income and C$258M free cash flow. Low leverage (net debt ~C$243M, D/E ~10%) and free cash flow well above the dividend leave capacity for share buybacks and continued royalty-acquisition consolidation.
Its EV/EBITDA of 19.1x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of 3.2% is lower than the 6.5% median, and at $117.31/boe of proved reserves it is richer than the $13.51/boe median.
On a balanced screen across the universe, PrairieSky Royalty Ltd. scores 47/100, strongest on safety (75/100). Sub-scores: value 16, quality 55, growth 61, risk 25 (higher = riskier).
PrairieSky Royalty Ltd. holds approximately 0.05 billion boe of proved (1P) reserves with FY2025 production of about 26 thousand boe/d (64% liquids), a reserve life of roughly 5.5 years. Break-even: n/a (royalty model — no operating breakeven) — royalty income, no capex/opex; driven by third-party drilling and price
For PrairieSky Royalty Ltd., no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Canada | 100% | 8 | Stable; pipeline egress constraints, oil-sands emissions policy. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Fee mineral title | Canada | Royalty | ~9.9 million acres fee petroleum/natural-gas title across the WCSB |
| GORR portfolio | Canada | Royalty | ~8.7 million acres of gross overriding royalty interests |
| Clearwater / Mannville heavy oil | Canada | Oil royalty | High-growth heavy-oil fairway driving record oil royalty volumes |
| Viking light oil | Canada | Oil royalty | Core Alberta/Saskatchewan light-oil royalty acreage |
| Duvernay | Canada | Liquids royalty | Emerging liquids-rich shale royalty exposure |
| Montney | Canada | Gas/liquids royalty | Gas and condensate royalty volumes |
| Cardium / Bakken | Canada | Oil royalty | Established light-oil royalty plays |
| Deep Basin gas | Canada | Gas royalty | Natural-gas royalty acreage |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 19 | 23 | 25 | 27 | 26 |
| Proved reserves (bnboe) | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Revenue ($bn) | 0.2 | 0.5 | 0.3 | 0.3 | 0.3 |
| EBITDA ($bn) | 0.2 | 0.4 | 0.3 | 0.3 | 0.3 |
| Net income ($bn) | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 |
| Free cash flow ($bn) | -0.5 | 0.4 | 0.2 | 0.2 | 0.2 |
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✓ FY2025 figures verified against primary sources: