Welcome to our dedicated page for Viper Energy news (Ticker: VNOM), a resource for investors and traders seeking the latest updates and insights on Viper Energy stock.
Viper Energy, Inc. (NASDAQ: VNOM) is a publicly traded Delaware corporation specializing in the ownership and acquisition of mineral and royalty interests in oil and natural gas properties, predominantly located in the Permian Basin. The Permian Basin is renowned for its rich deposits of oil and natural gas-bearing rock, making it a key area for energy exploration and production.
Core Business: Viper Energy focuses on maximizing returns from its mineral and royalty interests without incurring the exploration and development costs typically associated with traditional oil and gas companies. This unique business model allows Viper to benefit from production activities conducted by other operators in the region.
Recent Achievements: Recently, Viper Energy announced an underwritten public offering of 11,500,000 shares of its Class A common stock by its parent company, Diamondback Energy, Inc. This offering, managed by major financial institutions such as J.P. Morgan, Barclays, Evercore ISI, and Goldman Sachs, aims to raise approximately $402.5 million in gross proceeds. The offering is expected to close on March 8, 2024, subject to customary closing conditions.
Financial Condition: Viper Energy reports strong financial health with consistent revenue streams from its mineral and royalty interests. The company utilizes commodity derivatives to hedge against market volatility, ensuring stable cash flows.
Partnerships: As a subsidiary of Diamondback Energy, Inc., Viper benefits from strategic alignment and shared resources, enhancing its operational efficiency and market reach.
Products and Operations: Viper Energy's primary product is its royalty income derived from oil and gas production. The company regularly updates stakeholders with financial, operational, and guidance reports, ensuring transparency and informed decision-making.
Overall, Viper Energy, Inc. stands out for its strategic focus on mineral and royalty interests, robust financial management, and strong industry partnerships, positioning it as a significant player in the energy sector.
Viper Energy (VNOM) reported strong Q4 2024 results with average production of 29,859 bo/d (56,109 boe/d) and consolidated net income of $272.8 million. The company declared a Q4 base cash dividend of $0.30 plus a variable dividend of $0.35 per Class A share, implying a 5.4% annualized yield.
For full year 2024, VNOM achieved average production of 27,156 bo/d, generated consolidated adjusted EBITDA of $782.2 million, and increased proved reserves by 9% to 195,873 Mboe. The company announced two significant transactions: a $1.0 billion Drop Down acquisition from Diamondback Energy expected to close in Q2 2025, and the completed Quinn Ranch Acquisition for $211.0 million.
Looking ahead, VNOM projects Q1 2025 production of 30,000-31,000 bo/d. Upon closing the Drop Down, production is expected to increase to 47,000-49,000 bo/d for the remainder of 2025. The company maintains strong liquidity with $1.0 billion available and ended Q4 with net debt of $1.1 billion.
Viper Energy (NASDAQ: VNOM) announced a significant leadership transition, with Travis D. Stice stepping down as Chief Executive Officer, effective immediately. Kaes Van't Hof, the current President, will succeed as CEO, while Austen Gilfillian will be promoted from Vice President to President.
The transition represents the culmination of a thorough succession planning process. Stice, who led Viper since its 2014 IPO, will continue to contribute through his position on the Board. The company also announced additional promotions, with Trevor Stoltz becoming Vice President of Business Development and John Phillips assuming the role of Vice President of Land.
The Board expressed confidence that the new leadership team will continue to drive Viper's growth and maintain its position as a leader in the public mineral and royalties space, particularly focusing on future growth through consolidation in the fragmented minerals market.
Viper Energy (NASDAQ: VNOM) has announced the pricing of an upsized public offering of 24,640,000 shares of Class A common stock at $44.50 per share, representing a 2,640,000 share increase from the originally proposed 22,000,000 shares. The underwriters have a 30-day option to purchase up to an additional 3,696,000 shares.
The offering is expected to generate approximately $1.1 billion in net proceeds (or $1.2 billion if the underwriters exercise their full option). Viper plans to use the proceeds to fund the cash consideration for its pending acquisition of mineral and royalty-interest owning subsidiaries from Diamondback Energy. The offering is expected to close on February 3, 2025.
J.P. Morgan, Citigroup, Mizuho, and Morgan Stanley are serving as joint book-running managers for the offering.
Viper Energy (NASDAQ: VNOM) has announced an underwritten public offering of 22,000,000 shares of its Class A common stock, with underwriters having an option to purchase an additional 3,300,000 shares. The proceeds will primarily fund the cash consideration for Viper's pending acquisition of mineral and royalty-interest owning subsidiaries from its parent company, Diamondback Energy. If the acquisition doesn't close, proceeds will be used for general corporate purposes.
The offering is being managed by joint book-running managers J.P. Morgan, Citigroup, Mizuho, and Morgan Stanley. The shares will be issued under an effective automatic shelf registration statement on Form S-3ASR previously filed with the SEC.
Viper Energy (NASDAQ:VNOM) announced two major acquisitions and Q4 2024 results. The company reported Q4 average daily production of 29,859 bo/d and total operating income of $228.7 million, declaring a $0.65 combined dividend per Class A share.
The company entered into two significant transactions: a $1.0 billion Drop Down agreement with Diamondback Energy to acquire mineral and royalty-interest subsidiaries, involving cash and approximately 69.6 million OpCo units, and the Quinn Ranch Acquisition worth $211 million plus 2.4 million OpCo units.
The combined acquisitions will add approximately 23,100 net royalty acres in the Midland Basin, with Diamondback operating >70% of these acres. The transactions are expected to be >10% accretive to cash distribution per Class A share, with pro forma production expected to increase by 61% compared to Q4 2024 levels.
Viper Energy (NASDAQ: VNOM), a subsidiary of Diamondback Energy, has scheduled its fourth quarter 2024 financial results release for February 24, 2025 after market close. The company will host a conference call and webcast for investors and analysts on February 25, 2025 at 10:00 a.m. CT to discuss the results.
Viper Energy specializes in owning, acquiring, and exploiting oil and natural gas properties in North America, with a primary focus on oil-weighted basins, particularly the Permian Basin in West Texas. The earnings call webcast will be accessible through Viper's website under the 'Investor Relations' section.
Viper Energy reported strong Q3 2024 financial results with average production of 26,978 bo/d (49,370 boe/d), marking a 2.4% increase from Q2 2024. The company achieved consolidated net income of $109.0 million and declared a total dividend of $0.61 per Class A common share. During Q3, 330 total gross wells were turned to production with an average lateral length of 11,866 feet. The company completed the Tumbleweed Acquisitions, expanding its footprint to 35,634 net royalty acres. Viper increased its full year 2024 production guidance to 27,000-27,250 bo/d and initiated Q4 2024 guidance of 29,250-29,750 bo/d.
Viper Energy, Inc. (NASDAQ:VNOM), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG), has completed the acquisition of certain mineral and royalty interest-owning subsidiaries of Tumbleweed Royalty IV, (TWR IV). The total consideration for the acquisition included:
1. $459.0 million in cash
2. Issuance of approximately 10.1 million OpCo units to TWR IV
3. An option for TWR IV to acquire an equal number of Viper's Class B common stock
The cash portion was funded through cash on hand, borrowings, and proceeds from a public offering of Viper's Class A common stock. The deal also includes a potential additional payment of up to $41.0 million in Q1 2026, contingent on the average 2025 WTI price.
Viper Energy, Inc. (NASDAQ: VNOM), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG), has announced its plans to release third quarter 2024 financial results on November 4, 2024 after market close. The company will host a conference call and webcast for investors and analysts on November 5, 2024 at 10:00 a.m. CT to discuss the results.
Investors can access the live webcast and replay through Viper's website at www.viperenergy.com under the 'Investor Relations' section. Viper Energy focuses on owning, acquiring, and exploiting oil and gas properties in North America, with a primary focus on oil-weighted basins in the Permian Basin, West Texas.
Viper Energy (NASDAQ: VNOM) has announced the pricing of an upsized public offering of 10,000,000 shares of its Class A common stock at $42.50 per share. This represents a 1,500,000 share increase from the originally proposed 8,500,000 share offering. The underwriters have a 30-day option to purchase an additional 1,500,000 shares. Net proceeds are expected to be approximately $413.7 million, or $475.9 million if the underwriters' option is fully exercised.
Viper plans to use the proceeds, along with cash on hand and credit facility borrowings, to fund part of the cash consideration for its pending acquisition of mineral and royalty-interest owning subsidiaries of Tumbleweed Royalty IV, The offering is expected to close on September 13, 2024, subject to customary conditions.
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