Exhibit 99.1

FALCON MINERALS CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR 2019 FINANCIAL RESULTS

NEW YORK, NY – March 9, 2020 – Falcon Minerals Corporation (“Falcon,” or the “Company,” “we,” “our,”) (NASDAQ: FLMN, FLMNW), a leading oil and gas minerals company, today announced financial and operating results for the fourth quarter and full year ending December 31, 2019.

Highlights

Daniel Herz, President and Chief Executive Officer of Falcon commented, “While we are in a challenging period for energy generally, Falcon was designed not only to withstand this kind of environment, but also to outperform.” Mr. Herz continued, “Falcon benefits from the strength of our operators, who have been consistent in their development of our world class inventory. Our 3.52 net line of sight wells are nicely along in their development which should provide for strong production in 2020 even in this challenging environment. Finally, we remain committed to maintaining a strong balance sheet and delivering value to our shareholders.”

Financial Update

Falcon realized prices of $55.88 per barrel (“bbl”) for crude oil, $2.34 per thousand cubic feet (“mcf”) for natural gas and $16.86/bbl for natural gas liquids (“NGL”) during the in the fourth quarter 2019.

Falcon reported Net Income of $4.4 million, or $0.05 per Class A common share, for the fourth quarter 2019, which includes amounts attributable to non-controlling interests. Falcon generated revenue of $13.1 million (approximately 79% oil) for the fourth quarter 2019. The Company reported Adjusted EBITDA (a non-GAAP measure as defined and reconciled on pages 8-9) of $8.9 million for the fourth quarter 2019.

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Total cash operating costs for the fourth quarter 2019 were $4.3 million inclusive of an increase of $0.6 million in ad valorem taxes. General and administrative expense for the fourth quarter 2019, excluding non-cash stock-based compensation expense, was approximately $2.5 million, compared to $2.2 million for the third quarter 2019. The increase from the prior quarter was due primarily to an increase in professional fees associated with the annual audit.

As of December 31, 2019, the Company had $42.5 million of borrowings on its revolving credit facility, and $2.5 million of cash on hand, resulting in a net liquidity position of approximately $50.0 million at the end of quarter. Falcon’s Net Debt / LTM EBITDA ratio was 0.76x at December 31, 2019. ⁽⁴⁾

Fourth Quarter 2019 Dividend

Falcon’s Board of Directors declared a dividend of $0.135 per Class A share for the fourth quarter 2019. During the fourth quarter 2019, the Company generated pro-forma free cash flow per share of $0.10 ⁽⁵⁾ (as described and reconciled on page 8-9). The dividend for the fourth quarter 2019 was paid on March 9, 2020 to all Class A shareholders of record on February 25, 2020. The fourth quarter 2019 dividend does not have any effect on the current $11.34 exercise price of the Company’s outstanding warrants.

Operational Results

Falcon’s production averaged 4,027 boe/d during the fourth quarter 2019, of which approximately 50% was oil. Eagle Ford production was approximately 58% oil during the fourth quarter 2019. Falcon had 73 gross wells turned in line (0.59 net wells) with an average NRI of approximately 0.81% during the fourth quarter 2019.

Falcon’s production averaged 4,861 boe/d during the year ended December 31, 2019, of which approximately 50% was oil. Eagle Ford production was approximately 58% oil during the year ended December 31, 2019. Falcon had 194 gross wells turn in line (1.54 net wells) with an average NRI of approximately 0.79% during the year ended December 31, 2019.

Falcon currently has 1,924 producing Eagle Ford wells, and the Company’s average NRI for all producing wells is approximately 1.32%.

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As of January 24, 2020, the Company had 218 line of sight wells (3.52 net wells) with an average NRI of 1.62% in various stages of development on Falcon’s Eagle Ford minerals position. The 218 line of sight wells represent an increase of approximately 25% from November 2019. These wells are comprised of the following:

Line of Sight Wells (As of January 24, 2020)

The line of sight wells include four wells on Falcon’s Hooks Ranch location that were connected to production on February 7, 2020, and in total 1.20 of the 3.52 net wells have already turned in line during 2020. Approximately 75% of line of sight wells have development activity or have been turned in line.

During the year ended December 31, 2019, Falcon acquired approximately 147 net royalty acres through 27 transactions in the Eagle Ford Shale for a total cost of approximately $22.6 million. The transactions were funded using cash on hand and availability on the Company’s revolving credit facility.

Reserve Summary for the Year Ended December 31, 2019

As of December 31, 2019, net proved oil and gas reserves were approximately 23.0 million barrels of oil equivalent (MMboe), based on the Securities and Exchange Commission (SEC) average net realized price assumptions of $55.69/bbl for oil, $13.20/bbl for NGL, and $2.58/mcf for natural gas. Falcon’s year end 2019 proved reserves were valued at a PV-10 amount of approximately $488 million, and approximately 67% of the Company’s proved reserves were oil and NGLs.

Summary of proved reserves as of December 31, 2019

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Reconciliation of proved reserves for full year 2019

Guidance Summary

The Company has provided full year 2020 guidance based upon expectations for producer activity on Falcon’s net royalty positions.

Conference Call Details

Falcon management invites investors and interested parties to listen to the conference call to discuss fourth quarter 2019 results on Tuesday, March 10, 2020 at 9:00 am ET. Participants for the conference call should dial (888) 567-1602 (International: (862) 298-0701). A replay of the call will be available starting at 2:00 pm ET on March 10, 2020. To access the replay, investors and interested parties can listen to the replay on www.falconminerals.com in the Events page of the Investor Relations section, or call (888) 539-4649 (International: (754) 333-7735).

About Falcon Minerals

Falcon Minerals Corporation (NASDAQ: FLMN, FLMNW) is a C-Corporation formed to own and acquire high growth oil-weighted minerals rights. Falcon Minerals owns mineral, royalty, and over-riding royalty interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt and Gonzales Counties in Texas. The Company also owns approximately 75,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio and West Virginia. For more information, visit our website at www.falconminerals.com.

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Cautionary Note Regarding Forward-Looking Statements

This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Falcon cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, future dividends paid, resource and production potential, Falcon’s plans, objectives, expectations and intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; Falcon’s ability to realize the anticipated benefits of its acquisitions; changes in commodity prices; uncertainties about estimates of reserves and resource potential; inability to obtain capital needed for operations; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production in Falcon’s regions; tax consequences of business transactions; and other risks, assumptions and uncertainties detailed from time to time in Falcon’s reports filed with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in Falcon’s most recent annual report on Form 10-K as well as any subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date hereof, and Falcon assumes no obligation to update such statements, except as may be required by applicable law.

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FALCON MINERALS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

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FALCON MINERALS CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

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Reconciliation of Net Income to Adjusted EBITDA and Pro-forma Free Cash Flow (in thousands, except per share amounts):

Calculation of cash available for dividends for the fourth quarter 2019 (in thousands):

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Non-GAAP Financial Measures

Adjusted EBITDA and Pro-forma Free Cash Flow are supplemental non-GAAP financial measures used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We believe Adjusted EBITDA and Pro-forma Free Cash Flow are useful because they allow us to evaluate our performance and compare the results of our operations period to period without regard to our financing methods or capital structure. In addition, management uses Adjusted EBITDA and Pro-forma Free Cash Flow to evaluate cash flow available to pay dividends to our common shareholders.

We define Adjusted EBITDA as Net Income plus interest expense, net, depletion expense, provision for income taxes and share-based compensation. We define Pro forma Free Cash Flow as Net Income plus depletion expense, provision for income taxes and share-based compensation less cash income taxes. Adjusted EBITDA and Pro-forma Free Cash Flow are not measures of Net Income as determined by GAAP. We exclude the items listed above from Net Income in calculating Adjusted EBITDA and Pro-forma Free Cash Flow because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Certain items excluded from Adjusted EBITDA and Pro-forma Free Cash Flow are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as historic costs of depreciable assets, none of which are components of Adjusted EBITDA and Pro-forma Free Cash Flow.

Adjusted EBITDA and Pro-forma Free Cash Flow should not be considered an alternative to, or more meaningful than, Net Income, royalty income, cash flow from operating activities or any other measure of financial performance presented in accordance with GAAP. Our computations of Adjusted EBITDA and Pro-forma Free Cash Flow may not be comparable to other similarly titled measures of other companies.

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FALCON MINERALS CORPORATION

SELECTED OPERATING DATA

(Unaudited)

Falcon Minerals Contact:

Bryan C. Gunderson

Chief Financial Officer

bgunderson@falconminerals.com

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