Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Reports Fourth Quarter and Full Year 2024 Financial and Operating Results
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 (VNOM) ha riportato risultati solidi per il quarto trimestre del 2024, con una produzione media di 29.859 bo/d (56.109 boe/d) e un reddito netto consolidato di 272,8 milioni di dollari. L'azienda ha dichiarato un dividendo base in contante per il quarto trimestre di 0,30 dollari, oltre a un dividendo variabile di 0,35 dollari per azione di Classe A, implicando un rendimento annualizzato del 5,4%.
Per l'intero anno 2024, VNOM ha raggiunto una produzione media di 27.156 bo/d, generando un EBITDA consolidato rettificato di 782,2 milioni di dollari e aumentando le riserve provate del 9% a 195.873 Mboe. L'azienda ha annunciato due transazioni significative: un'acquisizione Drop Down da 1,0 miliardo di dollari da Diamondback Energy, prevista per chiudere nel secondo trimestre del 2025, e l'acquisizione completata del Quinn Ranch per 211,0 milioni di dollari.
Guardando al futuro, VNOM prevede una produzione per il primo trimestre del 2025 di 30.000-31.000 bo/d. Una volta chiusa l'acquisizione Drop Down, si prevede che la produzione aumenti a 47.000-49.000 bo/d per il resto del 2025. L'azienda mantiene una forte liquidità con 1,0 miliardo di dollari disponibili e ha chiuso il quarto trimestre con un debito netto di 1,1 miliardi di dollari.
Viper Energy (VNOM) reportó resultados sólidos en el cuarto trimestre de 2024, con una producción promedio de 29,859 bo/d (56,109 boe/d) y un ingreso neto consolidado de 272.8 millones de dólares. La compañía declaró un dividendo base en efectivo de 0.30 dólares más un dividendo variable de 0.35 dólares por acción de Clase A, lo que implica un rendimiento anualizado del 5.4%.
Para el año completo 2024, VNOM logró una producción promedio de 27,156 bo/d, generó un EBITDA ajustado consolidado de 782.2 millones de dólares y aumentó las reservas probadas en un 9% a 195,873 Mboe. La compañía anunció dos transacciones significativas: una adquisición Drop Down de 1.0 mil millones de dólares de Diamondback Energy que se espera cerrar en el segundo trimestre de 2025, y la adquisición completada de Quinn Ranch por 211.0 millones de dólares.
De cara al futuro, VNOM proyecta una producción de 30,000-31,000 bo/d para el primer trimestre de 2025. Al cerrar la adquisición Drop Down, se espera que la producción aumente a 47,000-49,000 bo/d durante el resto de 2025. La compañía mantiene una sólida liquidez con 1.0 mil millones de dólares disponibles y cerró el cuarto trimestre con una deuda neta de 1.1 mil millones de dólares.
Viper Energy (VNOM)는 2024년 4분기 강력한 실적을 보고했으며, 평균 생산량은 29,859 bo/d(56,109 boe/d)이고, 통합 순이익은 2억 7,280만 달러입니다. 이 회사는 4분기 기본 현금 배당금으로 주식 1주당 0.30달러와 변동 배당금으로 0.35달러를 선언했으며, 이는 연간 5.4%의 수익률을 의미합니다.
2024년 전체 연도에 대해 VNOM은 평균 생산량 27,156 bo/d를 달성했으며, 통합 조정 EBITDA는 7억 8,220만 달러를 생성하고, 입증된 매장량을 9% 증가시켜 195,873 Mboe에 도달했습니다. 이 회사는 두 가지 중요한 거래를 발표했습니다: 2025년 2분기에 마감될 것으로 예상되는 Diamondback Energy로부터의 10억 달러 규모의 Drop Down 인수와 2억 1,100만 달러에 완료된 Quinn Ranch 인수입니다.
앞으로 VNOM은 2025년 1분기 생산량을 30,000-31,000 bo/d로 예상하고 있습니다. Drop Down 인수가 완료되면, 2025년 나머지 기간 동안 생산량이 47,000-49,000 bo/d로 증가할 것으로 예상됩니다. 이 회사는 10억 달러의 유동성을 유지하고 있으며, 4분기 말에는 순부채가 11억 달러에 달했습니다.
Viper Energy (VNOM) a annoncé de solides résultats pour le quatrième trimestre 2024, avec une production moyenne de 29 859 bo/j (56 109 boe/j) et un revenu net consolidé de 272,8 millions de dollars. L'entreprise a déclaré un dividende de base en espèces de 0,30 dollar, ainsi qu'un dividende variable de 0,35 dollar par action de Classe A, impliquant un rendement annualisé de 5,4 %.
Pour l'année complète 2024, VNOM a atteint une production moyenne de 27 156 bo/j, généré un EBITDA ajusté consolidé de 782,2 millions de dollars et augmenté ses réserves prouvées de 9 % à 195 873 Mboe. L'entreprise a annoncé deux transactions significatives : une acquisition Drop Down de 1,0 milliard de dollars de Diamondback Energy prévue pour clôturer au deuxième trimestre 2025, et l'acquisition complétée du Quinn Ranch pour 211,0 millions de dollars.
En regardant vers l'avenir, VNOM prévoit une production de 30 000 à 31 000 bo/j pour le premier trimestre 2025. À la clôture de l'acquisition Drop Down, la production devrait augmenter à 47 000-49 000 bo/j pour le reste de 2025. L'entreprise maintient une forte liquidité avec 1,0 milliard de dollars disponibles et a terminé le quatrième trimestre avec une dette nette de 1,1 milliard de dollars.
Viper Energy (VNOM) hat starke Ergebnisse für das vierte Quartal 2024 gemeldet, mit einer durchschnittlichen Produktion von 29.859 bo/d (56.109 boe/d) und einem konsolidierten Nettogewinn von 272,8 Millionen Dollar. Das Unternehmen hat eine Basisbar-Dividende von 0,30 Dollar sowie eine variable Dividende von 0,35 Dollar pro Klasse-A-Aktie erklärt, was eine annualisierte Rendite von 5,4% impliziert.
Für das gesamte Jahr 2024 erzielte VNOM eine durchschnittliche Produktion von 27.156 bo/d, generierte ein konsolidiertes bereinigtes EBITDA von 782,2 Millionen Dollar und erhöhte die nachgewiesenen Reserven um 9% auf 195.873 Mboe. Das Unternehmen kündigte zwei bedeutende Transaktionen an: eine 1,0 Milliarden Dollar schwere Drop Down-Akquisition von Diamondback Energy, die voraussichtlich im zweiten Quartal 2025 abgeschlossen wird, und die abgeschlossene Quinn Ranch-Akquisition für 211,0 Millionen Dollar.
Für die Zukunft erwartet VNOM eine Produktion von 30.000-31.000 bo/d im ersten Quartal 2025. Nach Abschluss der Drop Down-Akquisition wird ein Anstieg der Produktion auf 47.000-49.000 bo/d für den Rest des Jahres 2025 erwartet. Das Unternehmen hält eine starke Liquidität mit 1,0 Milliarden Dollar zur Verfügung und schloss das vierte Quartal mit einem Nettoschuldenstand von 1,1 Milliarden Dollar ab.
- Q4 net income of $272.8 million, including $155.9 million tax benefit
- 9% year-over-year increase in proved reserves to 195,873 Mboe
- Strong Q4 dividend yield of 5.4% ($0.65 per share)
- Expected production increase to 47,000-49,000 bo/d post Drop Down acquisition
- Maintained $1.0 billion in total liquidity
- Net debt of $1.1 billion as of Q4 2024
- Negative revisions of 6,539 Mboe due to lower commodity prices
Insights
The Q4 2024 results demonstrate Viper Energy's robust operational execution and strategic positioning. Production reached 56,109 boe/d, with oil comprising 53% at 29,859 bo/d, reflecting high-quality asset management. The company's proved reserves increased to 195,873 Mboe, with an impressive 84% PDP component, indicating strong asset quality and reduced development risk.
The financial performance is particularly noteworthy with consolidated net income of $272.8 million. While this includes a $155.9 million one-time tax benefit, the underlying operational performance remains strong. The company's realized oil price of $69.91/bbl and minimal hedging impact demonstrate effective price risk management.
The strategic landscape is transforming through two key transactions: the
The company's capital return strategy remains shareholder-friendly, with a total Q4 dividend of
Looking ahead, Viper's development pipeline is robust with 867 gross wells in active development and 1,191 line-of-sight wells. The average lateral length of 11,381 feet for 2024 completions indicates continued operational efficiency. The company's reserve replacement ratio of
MIDLAND, Texas, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Viper Energy, Inc., (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the fourth quarter and full year ended December 31, 2024.
FOURTH QUARTER HIGHLIGHTS
- Q4 2024 average production of 29,859 bo/d (56,109 boe/d)
- Q4 2024 consolidated net income (including non-controlling interest) of
$272.8 million ; net income attributable to Viper of$210.1 million , or$2.04 per Class A common share; includes a one-time tax benefit of$155.9 million from the reversal of the valuation allowance against the Company’s deferred tax assets - Q4 2024 cash available for distribution to Viper’s Class A common shares (as defined and reconciled below) of
$89.0 million , or$0.86 per Class A common share - As previously announced, declared Q4 2024 base cash dividend of
$0.30 per Class A common share; implies a2.5% annualized yield based on the February 21, 2025, share closing price of$48.33 - As previously announced, declared Q4 2024 variable cash dividend of
$0.35 per Class A common share; total base-plus-variable dividend of$0.65 per Class A common share implies a5.4% annualized yield based on the February 21, 2025, share closing price of$48.33 - Total Q4 2024 return of capital of
$66.7 million , or$0.65 per Class A common share, represents75% of cash available for distribution - 381 total gross (8.1 net
100% royalty interest) horizontal wells turned to production on Viper’s acreage during Q4 2024 with an average lateral length of 10,818 feet
FULL YEAR 2024 HIGHLIGHTS
- Full year 2024 average production of 27,156 bo/d (49,784 boe/d)
- Received
$6.2 million in lease bonus income - Full year 2024 consolidated net income (including non-controlling interest) of
$603.6 million ; net income attributable to Viper of$359.2 million , or$3.82 per Class A common share - Declared dividends of
$2.49 per Class A common share during the full year 2024 - Generated full year 2024 consolidated adjusted EBITDA (as defined and reconciled below) of
$782.2 million - Proved reserves as of December 31, 2024 of 195,873 Mboe (
84% PDP, 93,563 Mbo), up9% year over year with oil up4% from year end 2023 - 1,461 total gross (27.9 net
100% royalty interest) horizontal wells turned to production on Viper’s acreage during 2024 with an average lateral length of 11,381 feet
2025 OUTLOOK
- As previously announced, on January 30, 2025, entered into a definitive purchase and sale agreement to acquire all of the equity interests of certain mineral and royalty interest owning subsidiaries of Diamondback in exchange for
$1.0 billion of cash and approximately 69.63 million limited liability company membership interests of Viper Energy Partners LLC (“OpCo units”), along with an accompanying equal amount of Class B common stock of the Company, subject to customary closing adjustments (the “Drop Down”); expected to close in the second quarter of 2025, subject to the approval by Viper’s stockholders and clearance of other typical closing conditions - On February 14, 2025, closed the acquisition of certain mineral and royalty interests from Morita Ranches Minerals LLC in exchange for approximately
$211.0 million of cash and approximately 2.40 million OpCo units (along with an accompanying equal amount of Class B common stock of the Company), subject to customary post-closing adjustments (the “Quinn Ranch Acquisition”) - Initiating average daily production guidance for Q1 2025 of 30,000 to 31,000 bo/d (54,000 to 56,000 boe/d)
- Upon the assumed closing of the Drop Down during Q2 2025, expect average daily production for the balance of 2025 in the range of 47,000 to 49,000 bo/d (85,000 to 88,000) boe/d
- As of December 31, 2024, there were approximately 867 gross horizontal wells in the process of active development on Viper’s acreage in which Viper expects to own an average
1.6% net royalty interest (14.1 net100% royalty interest wells) - Approximately 1,191 gross (23.9 net
100% royalty interest) line-of-sight wells on Viper’s acreage that are not currently in the process of active development, but for which Viper has visibility to the potential of future development in coming quarters, based on Diamondback’s current completion schedule and third-party operators’ permits
“The fourth quarter concluded a landmark year for Viper. For the full year, we continued to deliver strong organic production growth on our legacy assets and successfully executed on our differentiated acquisition strategy. Looking ahead, we continue to be excited about the transformative Drop Down transaction between Viper and Diamondback that was previously announced. We look forward to working toward a timely closing of the transaction and the unmatched forward outlook Viper will be provided upon that closing,” stated Kaes Van’t Hof, Chief Executive Officer of Viper.
FINANCIAL UPDATE
Viper’s fourth quarter 2024 average unhedged realized prices were
Viper’s fourth quarter 2024 average hedged realized prices were
During the fourth quarter of 2024, the Company recorded total operating income of
As of December 31, 2024, the Company had a cash balance of
FOURTH QUARTER 2024 CASH DIVIDEND & CAPITAL RETURN PROGRAM
As previously announced, the Board of Directors (the “Board”) of Viper Energy, Inc., declared a base dividend of
The Board also declared a variable cash dividend of
OPERATIONS UPDATE
During the fourth quarter of 2024, Viper estimates that 381 gross (8.1 net
Viper’s footprint of mineral and royalty interests was 35,671 net royalty acres as of December 31, 2024.
Our gross well information as of December 31, 2024 is as follows, unless otherwise specified:
| Diamondback Operated | Third-Party Operated | Total | |||
| Horizontal wells turned to production (fourth quarter 2024)(1): | |||||
| Gross wells | 88 | 293 | 381 | ||
| Net | 5.6 | 2.5 | 8.1 | ||
| Average percent net royalty interest | |||||
| Horizontal wells turned to production (year ended December 31, 2024)(2): | |||||
| Gross wells | 285 | 1,176 | 1,461 | ||
| Net | 16.0 | 11.9 | 27.9 | ||
| Average percent net royalty interest | |||||
| Horizontal producing well count: | |||||
| Gross wells | 2,898 | 8,161 | 11,059 | ||
| Net | 156.3 | 104.1 | 260.4 | ||
| Average percent net royalty interest | |||||
| Horizontal active development well count: | |||||
| Gross wells | 146 | 721 | 867 | ||
| Net | 6.0 | 8.1 | 14.1 | ||
| Average percent net royalty interest | |||||
| Line of sight wells: | |||||
| Gross wells | 324 | 867 | 1,191 | ||
| Net | 10.1 | 13.8 | 23.9 | ||
| Average percent net royalty interest |
(1) Average lateral length of 10,818 feet.
(2) Average lateral length of 11,381 feet.
The 867 gross wells currently in the process of active development are those wells that have been spud and are expected to be turned to production within approximately the next six to eight months. Further in regard to the active development on Viper’s asset base, there are currently 54 gross rigs operating on Viper’s acreage, 10 of which are operated by Diamondback. The 1,191 line-of-sight wells are those that are not currently in the process of active development, but for which Viper has reason to believe that they will be turned to production within approximately the next 15 to 18 months. The expected timing of these line-of-sight wells is based primarily on permitting by third-party operators or Diamondback’s current expected completion schedule. Existing permits or active development of Viper’s royalty acreage does not ensure that those wells will be turned to production.
YEAR END RESERVES UPDATE
Viper’s proved oil and natural gas reserve estimates and their associated future net cash flows were prepared by Viper’s internal reservoir engineers, and audited by Ryder Scott Company, L.P., independent petroleum engineers, as of December 31, 2024. Reference prices of
Proved reserves at year-end 2024 of 195,873 Mboe (93,563 Mbo) represent a
Proved developed reserves increased by
Net proved reserve additions of 34,845 Mboe resulted in a reserve replacement ratio of
Extensions and discoveries of 24,936 Mboe are primarily attributable to the drilling of 1,170 new wells and from 447 new proved undeveloped locations added. The Company’s total downward revisions of previous estimated quantities of 2,894 Mboe consist of negative revisions of 6,539 Mboe associated with lower commodity prices and PUD downgrades of 2,936 Mboe offset by positive revisions of 6,580 Mboe primarily attributable to performance revisions. The purchase of reserves in place of 14,941 Mboe resulted primarily from the previously reported Tumbleweed acquisitions and other acquisitions of certain mineral and royalty interests.
| Oil (MBbls) | Gas (MMcf) | Liquids (MBbls) | Mboe | ||||||||
| As of December 31, 2023 | 89,903 | 263,578 | 45,416 | 179,249 | |||||||
| Purchase of reserves in place | 7,891 | 20,310 | 3,665 | 14,941 | |||||||
| Extensions and discoveries | 13,099 | 33,498 | 6,254 | 24,936 | |||||||
| Revisions of previous estimates | (6,472 | ) | 4,449 | 2,837 | (2,894 | ) | |||||
| Divestitures | (919 | ) | (4,605 | ) | (451 | ) | (2,138 | ) | |||
| Production | (9,939 | ) | (24,606 | ) | (4,181 | ) | (18,221 | ) | |||
| As of December 31, 2024 | 93,563 | 292,624 | 53,540 | 195,873 | |||||||
As the owner of mineral and royalty interests, Viper incurred no exploration and development costs during the year ended December 31, 2024.
| December 31, | |||||||||||
| 2024 | 2023 | 2022 | |||||||||
| (in thousands) | |||||||||||
| Acquisition costs: | |||||||||||
| Proved properties | $ | 340,907 | $ | 402,659 | $ | 46,307 | |||||
| Unproved properties | 830,450 | 758,342 | 16,624 | ||||||||
| Total | $ | 1,171,357 | $ | 1,161,001 | $ | 62,931 | |||||
GUIDANCE UPDATE
Below is Viper’s guidance for Q1 2025. Guidance for full year 2025 will be provided pending the closing of the Drop Down.
| Viper Energy, Inc. | |
| Q1 2025 Net Production - Mbo/d | 30.00 - 31.00 |
| Q1 2025 Net Production - Mboe/d | 54.00 - 56.00 |
| Unit costs ($/boe) | |
| Depletion | |
| Cash G&A | |
| Non-Cash Share-Based Compensation | |
| Net Interest Expense | |
| Production and Ad Valorem Taxes (% of Revenue) | ~ |
| Cash Tax Rate (% of Pre-Tax Income Attributable to Viper Energy, Inc.)(1) | |
| Q1 2025 Cash Taxes ($ - million)(2) |
(1) Pre-tax income attributable to Viper Energy, Inc. is reconciled below.
(2) Attributable to Viper Energy, Inc.
CONFERENCE CALL
Viper will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 10:00 a.m. CT. Access to the live audio-only webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Viper’s website at www.viperenergy.com under the “Investor Relations” section of the site.
About Viper Energy, Inc.
Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. For more information, please visit www.viperenergy.com.
About Diamondback Energy, Inc.
Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, returns, cash flow, and financial position; production levels on properties in which Viper has mineral and royalty interests, developmental activity by other operators; reserve estimates and Viper’s ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the pending Drop Down and other acquisitions or divestitures); and plans and objectives (including Diamondback’s plans for developing Viper’s acreage and Viper’s cash dividend policy and common stock repurchase program) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond its control. Accordingly, forward-looking statements are not guarantees of Viper’s future performance and the actual outcomes could differ materially from what Viper expressed in its forward-looking statements.
Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases, and any related company or government policies or actions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial sector; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production on Viper’s mineral and royalty acreage, or governmental orders, rules or regulations that impose production limits on such acreage; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change and the risks and other factors disclosed in Viper’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the Securities and Exchange Commission's web site at http://www.sec.gov.
In light of these factors, the events anticipated by Viper’s forward-looking statements may not occur at the time anticipated or at all. Moreover, new risks emerge from time to time. Viper cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements made in this news release. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Viper does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.
| Viper Energy, Inc. | |||||||
| Consolidated Balance Sheets | |||||||
| (unaudited, in thousands, except share amounts) | |||||||
| December 31, | |||||||
| 2024 | 2023 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 26,851 | $ | 25,869 | |||
| Royalty income receivable (net of allowance for credit losses) | 149,234 | 108,681 | |||||
| Royalty income receivable—related party | 30,971 | 3,329 | |||||
| Income tax receivable | 2,238 | 813 | |||||
| Derivative instruments | 17,638 | 358 | |||||
| Prepaid expenses and other current assets | 11,112 | 4,467 | |||||
| Total current assets | 238,044 | 143,517 | |||||
| Property: | |||||||
| Oil and natural gas interests, full cost method of accounting ( | 5,712,671 | 4,628,983 | |||||
| Land | 5,688 | 5,688 | |||||
| Accumulated depletion and impairment | (1,080,764 | ) | (866,352 | ) | |||
| Property, net | 4,637,595 | 3,768,319 | |||||
| Derivative instruments | — | 92 | |||||
| Deferred income taxes (net of allowances) | 185,235 | 56,656 | |||||
| Other assets | 8,166 | 5,509 | |||||
| Total assets | $ | 5,069,040 | $ | 3,974,093 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 85 | $ | 19 | |||
| Accounts payable—related party | 1,980 | 1,330 | |||||
| Accrued liabilities | 42,272 | 27,021 | |||||
| Derivative instruments | 2,323 | 2,961 | |||||
| Income taxes payable | 2,034 | 1,925 | |||||
| Total current liabilities | 48,694 | 33,256 | |||||
| Long-term debt, net | 1,082,979 | 1,083,082 | |||||
| Derivative instruments | — | 201 | |||||
| Other long-term liabilities | 30,148 | — | |||||
| Total liabilities | 1,161,821 | 1,116,539 | |||||
| Stockholders’ equity: | |||||||
| Class A Common Stock, | — | — | |||||
| Class B Common Stock, | — | — | |||||
| Additional paid-in capital | 1,568,560 | 1,031,078 | |||||
| Retained earnings (accumulated deficit) | 118,444 | (16,786 | ) | ||||
| Total Viper Energy, Inc. stockholders’ equity | 1,687,004 | 1,014,292 | |||||
| Non-controlling interest | 2,220,215 | 1,843,262 | |||||
| Total equity | 3,907,219 | 2,857,554 | |||||
| Total liabilities and stockholders’ equity | $ | 5,069,040 | $ | 3,974,093 | |||
| Viper Energy, Inc. | |||||||||||||||
| Consolidated Statements of Operations | |||||||||||||||
| (unaudited, in thousands, except per share data) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Operating income: | |||||||||||||||
| Oil income | $ | 192,040 | $ | 175,254 | $ | 750,243 | $ | 619,181 | |||||||
| Natural gas income | 6,050 | 7,979 | 14,813 | 30,953 | |||||||||||
| Natural gas liquids income | 26,775 | 18,981 | 88,520 | 66,976 | |||||||||||
| Royalty income | 224,865 | 202,214 | 853,576 | 717,110 | |||||||||||
| Lease bonus income—related party | — | 2,238 | 227 | 107,823 | |||||||||||
| Lease bonus income | 3,655 | 125 | 5,944 | 1,855 | |||||||||||
| Other operating income | 179 | 135 | 640 | 909 | |||||||||||
| Total operating income | 228,699 | 204,712 | 860,387 | 827,697 | |||||||||||
| Costs and expenses: | |||||||||||||||
| Production and ad valorem taxes | 16,162 | 12,607 | 60,882 | 50,401 | |||||||||||
| Depletion | 64,591 | 44,787 | 214,412 | 146,118 | |||||||||||
| General and administrative expenses—related party | 3,150 | 924 | 10,541 | 3,696 | |||||||||||
| General and administrative expenses | 1,388 | 3,027 | 8,100 | 6,907 | |||||||||||
| Other operating (income) expense | 58 | 356 | 55 | 356 | |||||||||||
| Total costs and expenses | 85,349 | 61,701 | 293,990 | 207,478 | |||||||||||
| Income (loss) from operations | 143,350 | 143,011 | 566,397 | 620,219 | |||||||||||
| Other income (expense): | |||||||||||||||
| Interest expense, net | (19,112 | ) | (15,756 | ) | (73,848 | ) | (47,392 | ) | |||||||
| Gain (loss) on derivative instruments, net | 6,122 | 4,892 | 11,386 | (25,793 | ) | ||||||||||
| Other income, net | — | 1 | — | 259 | |||||||||||
| Total other expense, net | (12,990 | ) | (10,863 | ) | (62,462 | ) | (72,926 | ) | |||||||
| Income (loss) before income taxes | 130,360 | 132,148 | 503,935 | 547,293 | |||||||||||
| Provision for (benefit from) income taxes | (142,440 | ) | 6,217 | (99,711 | ) | 45,952 | |||||||||
| Net income (loss) | 272,800 | 125,931 | 603,646 | 501,341 | |||||||||||
| Net income (loss) attributable to non-controlling interest | 62,733 | 68,959 | 244,401 | 301,253 | |||||||||||
| Net income (loss) attributable to Viper Energy, Inc. | $ | 210,067 | $ | 56,972 | $ | 359,245 | $ | 200,088 | |||||||
| Net income (loss) attributable to common shares: | |||||||||||||||
| Basic | $ | 2.04 | $ | 0.70 | $ | 3.82 | $ | 2.69 | |||||||
| Diluted | $ | 2.04 | $ | 0.70 | $ | 3.82 | $ | 2.69 | |||||||
| Weighted average number of common shares outstanding: | |||||||||||||||
| Basic | 102,977 | 81,219 | 93,932 | 74,176 | |||||||||||
| Diluted | 102,977 | 81,219 | 93,932 | 74,176 | |||||||||||
| Viper Energy, Inc. | |||||||||||||||
| Consolidated Statements of Cash Flows | |||||||||||||||
| (unaudited, in thousands) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Cash flows from operating activities: | |||||||||||||||
| Net income (loss) | $ | 272,800 | $ | 125,931 | $ | 603,646 | $ | 501,341 | |||||||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||||
| Provision for (benefit from) deferred income taxes | (148,580 | ) | (7,887 | ) | (149,085 | ) | (7,000 | ) | |||||||
| Depletion | 64,591 | 44,787 | 214,412 | 146,118 | |||||||||||
| (Gain) loss on derivative instruments, net | (6,122 | ) | (4,892 | ) | (11,386 | ) | 25,793 | ||||||||
| Net cash receipts (payments) on derivatives | (940 | ) | (3,300 | ) | (2,978 | ) | (13,319 | ) | |||||||
| Other | 1,727 | 1,397 | 6,197 | 3,442 | |||||||||||
| Changes in operating assets and liabilities: | |||||||||||||||
| Royalty income receivable | (16,135 | ) | (5,232 | ) | (13,249 | ) | (27,379 | ) | |||||||
| Royalty income receivable—related party | 5,025 | 4,102 | (27,642 | ) | 2,931 | ||||||||||
| Accounts payable and accrued liabilities | (7,190 | ) | 2,155 | 7,002 | 6,311 | ||||||||||
| Accounts payable—related party | 1,981 | 1,330 | 651 | 1,024 | |||||||||||
| Income taxes payable | 218 | (11,397 | ) | 109 | 1,014 | ||||||||||
| Other | (9,467 | ) | (1,199 | ) | (8,069 | ) | (2,084 | ) | |||||||
| Net cash provided by (used in) operating activities | 157,908 | 145,795 | 619,608 | 638,192 | |||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Acquisitions of oil and natural gas interests—related party | — | — | — | (75,073 | ) | ||||||||||
| Acquisitions of oil and natural gas interests | (425,190 | ) | (731,618 | ) | (696,242 | ) | (830,128 | ) | |||||||
| Proceeds from sale of oil and natural gas interests | (5 | ) | 2 | 87,669 | (3,164 | ) | |||||||||
| Net cash provided by (used in) investing activities | (425,195 | ) | (731,616 | ) | (608,573 | ) | (908,365 | ) | |||||||
| Cash flows from financing activities: | |||||||||||||||
| Proceeds from borrowings under credit facility | 372,000 | 313,000 | 842,000 | 573,000 | |||||||||||
| Repayment on credit facility | (111,000 | ) | (300,000 | ) | (844,000 | ) | (462,000 | ) | |||||||
| Proceeds from Notes | — | 400,000 | — | 400,000 | |||||||||||
| Net proceeds from public offering | 2 | — | 475,906 | — | |||||||||||
| Proceeds from public offering to Diamondback | — | 200,000 | — | 200,000 | |||||||||||
| Repurchased shares/units under buyback program | — | (28,040 | ) | — | (95,221 | ) | |||||||||
| Dividends/distributions to stockholders | (62,912 | ) | (44,596 | ) | (219,465 | ) | (128,777 | ) | |||||||
| Dividends/distributions to Diamondback | (62,386 | ) | (68,047 | ) | (254,216 | ) | (195,976 | ) | |||||||
| Dividends to other non-controlling interest | (7,368 | ) | — | (7,368 | ) | — | |||||||||
| Other | (2,847 | ) | (7,441 | ) | (2,910 | ) | (13,163 | ) | |||||||
| Net cash provided by (used in) financing activities | 125,489 | 464,876 | (10,053 | ) | 277,863 | ||||||||||
| Net increase (decrease) in cash and cash equivalents | (141,798 | ) | (120,945 | ) | 982 | 7,690 | |||||||||
| Cash, cash equivalents and restricted cash at beginning of period | 168,649 | 146,814 | 25,869 | 18,179 | |||||||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 26,851 | $ | 25,869 | $ | 26,851 | $ | 25,869 | |||||||
| Viper Energy, Inc. | |||||||||||||||
| Selected Operating Data | |||||||||||||||
| (unaudited) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Production Data: | |||||||||||||||
| Oil (MBbls) | 2,747 | 2,257 | 9,939 | 8,028 | |||||||||||
| Natural gas (MMcf) | 7,236 | 5,321 | 24,606 | 19,130 | |||||||||||
| Natural gas liquids (MBbls) | 1,209 | 884 | 4,181 | 3,108 | |||||||||||
| Combined volumes (Mboe)(1) | 5,162 | 4,028 | 18,221 | 14,324 | |||||||||||
| Average daily oil volumes (bo/d) | 29,859 | 24,533 | 27,156 | 21,995 | |||||||||||
| Average daily combined volumes (boe/d) | 56,109 | 43,783 | 49,784 | 39,244 | |||||||||||
| Average sales prices: | |||||||||||||||
| Oil ($/Bbl) | $ | 69.91 | $ | 77.65 | $ | 75.48 | $ | 77.13 | |||||||
| Natural gas ($/Mcf) | $ | 0.84 | $ | 1.50 | $ | 0.60 | $ | 1.62 | |||||||
| Natural gas liquids ($/Bbl) | $ | 22.15 | $ | 21.47 | $ | 21.17 | $ | 21.55 | |||||||
| Combined ($/boe)(2) | $ | 43.56 | $ | 50.20 | $ | 46.85 | $ | 50.06 | |||||||
| Oil, hedged ($/Bbl)(3) | $ | 69.00 | $ | 76.56 | $ | 74.57 | $ | 76.05 | |||||||
| Natural gas, hedged ($/Mcf)(3) | $ | 1.05 | $ | 1.34 | $ | 0.85 | $ | 1.37 | |||||||
| Natural gas liquids ($/Bbl)(3) | $ | 22.15 | $ | 21.47 | $ | 21.17 | $ | 21.55 | |||||||
| Combined price, hedged ($/boe)(3) | $ | 43.38 | $ | 49.38 | $ | 46.68 | $ | 49.13 | |||||||
| Average Costs ($/boe): | |||||||||||||||
| Production and ad valorem taxes | $ | 3.13 | $ | 3.13 | $ | 3.34 | $ | 3.52 | |||||||
| General and administrative - cash component | 0.72 | 0.90 | 0.86 | 0.65 | |||||||||||
| Total operating expense - cash | $ | 3.85 | $ | 4.03 | $ | 4.20 | $ | 4.17 | |||||||
| General and administrative - non-cash stock compensation expense | $ | 0.16 | $ | 0.08 | $ | 0.16 | $ | 0.09 | |||||||
| Interest expense, net | $ | 3.70 | $ | 3.91 | $ | 4.05 | $ | 3.31 | |||||||
| Depletion | $ | 12.51 | $ | 11.12 | $ | 11.77 | $ | 10.20 | |||||||
(1) Bbl equivalents are calculated using a conversion rate of six Mcf per one Bbl.
(2) Realized price net of all deducts for gathering, transportation and processing.
(3) Hedged prices reflect the impact of cash settlements of our matured commodity derivative transactions on our average sales prices.
NON-GAAP FINANCIAL MEASURES
Adjusted EBITDA is a supplemental non-GAAP (as defined below) financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. Viper defines Adjusted EBITDA as net income (loss) attributable to Viper Energy, Inc. plus net income (loss) attributable to non-controlling interest (“net income (loss)”) before interest expense, net, non-cash share-based compensation expense, depletion, non-cash (gain) loss on derivative instruments, (gain) loss on extinguishment of debt, if any, other non-cash operating expenses, other non-recurring expenses and provision for (benefit from) income taxes. Adjusted EBITDA is not a measure of net income as determined by United States’ generally accepted accounting principles (“GAAP”). Management believes Adjusted EBITDA is useful because it allows them to more effectively evaluate Viper’s operating performance and compare the results of its operations from period to period without regard to its financing methods or capital structure. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income, royalty income, cash flow from operating activities or any other measure of financial performance or liquidity presented as determined in accordance with GAAP. Certain items excluded from Adjusted EBITDA 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 the historic costs of depreciable assets, none of which are components of Adjusted EBITDA.
Viper defines cash available for distribution to Viper Energy, Inc. shareholders generally as an amount equal to its Adjusted EBITDA for the applicable quarter less cash needed for income taxes payable for the current period, debt service, contractual obligations, fixed charges and reserves for future operating or capital needs that the Board may deem appropriate, lease bonus income, net of tax, distribution equivalent rights payments, preferred dividends, and an adjustment for changes in ownership interests that occurred subsequent to the quarter, if any. Management believes cash available for distribution is useful because it allows them to more effectively evaluate Viper’s operating performance excluding the impact of non-cash financial items and short-term changes in working capital. Viper’s computations of Adjusted EBITDA and cash available for distribution may not be comparable to other similarly titled measures of other companies or to such measure in its credit facility or any of its other contracts. Viper further defines cash available for variable dividends as at least 75 percent of cash available for distribution less base dividends declared and repurchased shares as part of its share buyback program for the applicable quarter.
The following tables present a reconciliation of the GAAP financial measure of net income (loss) to the non-GAAP financial measures of Adjusted EBITDA, cash available for distribution and cash available for variable dividends:
| Viper Energy, Inc. | |||||||
| (unaudited, in thousands, except per share data) | |||||||
| Three Months Ended December 31, 2024 | Year Ended December 31, 2024 | ||||||
| Net income (loss) attributable to Viper Energy, Inc. | $ | 210,067 | $ | 359,245 | |||
| Net income (loss) attributable to non-controlling interest | 62,733 | 244,401 | |||||
| Net income (loss) | 272,800 | 603,646 | |||||
| Interest expense, net | 19,112 | 73,848 | |||||
| Non-cash share-based compensation expense | 815 | 2,975 | |||||
| Depletion | 64,591 | 214,412 | |||||
| Non-cash (gain) loss on derivative instruments | (7,062 | ) | (14,364 | ) | |||
| Other non-cash operating expenses | 58 | 55 | |||||
| Other non-recurring expenses | — | 1,314 | |||||
| Provision for (benefit from) income taxes | (142,440 | ) | (99,711 | ) | |||
| Consolidated Adjusted EBITDA | 207,874 | 782,175 | |||||
| Less: Adjusted EBITDA attributable to non-controlling interest | 100,035 | 371,813 | |||||
| Adjusted EBITDA attributable to Viper Energy, Inc. | $ | 107,839 | $ | 410,362 | |||
| Adjustments to reconcile Adjusted EBITDA to cash available for distribution: | |||||||
| Income taxes payable for the current period | $ | (6,139 | ) | $ | (49,372 | ) | |
| Debt service, contractual obligations, fixed charges and reserves | (11,118 | ) | (39,219 | ) | |||
| Lease bonus income, net of tax | (1,502 | ) | (2,510 | ) | |||
| Distribution equivalent rights payments | (98 | ) | (393 | ) | |||
| Preferred distributions | (20 | ) | (80 | ) | |||
| Cash available for distribution to Viper Energy, Inc. shareholders | $ | 88,962 | $ | 318,788 | |||
| Three Months Ended December 31, 2024 | |||||||
| Amounts | Amounts Per Common Share | ||||||
| Reconciliation to cash available for variable dividends: | |||||||
| Cash available for distribution to Viper Energy, Inc. shareholders | $ | 88,962 | $ | 0.86 | |||
| Return of Capital | $ | 66,722 | $ | 0.65 | |||
| Less: | |||||||
| Base dividend | 30,893 | 0.30 | |||||
| Cash available for variable dividends | $ | 35,829 | $ | 0.35 | |||
| Total approved base and variable dividend per share | $ | 0.65 | |||||
| Class A common stock outstanding | 102,977 | ||||||
The following table presents a reconciliation of the GAAP financial measure of income (loss) before income taxes to the non-GAAP financial measure of pre-tax income attributable to Viper Energy, Inc. Management believes this measure is useful to investors given it provides the basis for income taxes payable by Viper Energy, Inc, which is an adjustment to reconcile Adjusted EBITDA to cash available for distribution to holders of Viper Energy, Inc.’s Class A common stock.
| Viper Energy, Inc. | |||
| Pre-tax income attributable to Viper Energy, Inc. | |||
| (unaudited, in thousands) | |||
| Three Months Ended December 31, 2024 | |||
| Income (loss) before income taxes | $ | 130,360 | |
| Less: Net income (loss) attributable to non-controlling interest | 62,733 | ||
| Pre-tax income attributable to Viper Energy, Inc. | $ | 67,627 | |
| Income taxes payable for the current period | $ | 6,139 | |
| Effective cash tax rate attributable to Viper Energy, Inc. | 9.1 | % | |
Adjusted net income (loss) is a non-GAAP financial measure equal to net income (loss) attributable to Viper Energy, Inc. plus net income (loss) attributable to non-controlling interest adjusted for non-cash (gain) loss on derivative instruments, net, (gain) loss on extinguishment of debt, if any, other non-cash operating expenses, other non-recurring expenses and related income tax adjustments. The Company’s computation of adjusted net income may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts. Management believes adjusted net income helps investors in the oil and natural gas industry to measure and compare the Company’s performance to other oil and natural gas companies by excluding from the calculation items that can vary significantly from company to company depending upon accounting methods, the book value of assets and other non-operational factors.
The following table presents a reconciliation of the GAAP financial measure of net income (loss) attributable to Viper Energy, Inc. to the non-GAAP financial measure of adjusted net income (loss):
| Viper Energy, Inc. | |||||||
| Adjusted Net Income (Loss) | |||||||
| (unaudited, in thousands, except per share data) | |||||||
| Three Months Ended December 31, 2024 | |||||||
| Amounts | Amounts Per Diluted Share | ||||||
| Net income (loss) attributable to Viper Energy, Inc.(1) | $ | 210,067 | $ | 2.04 | |||
| Net income (loss) attributable to non-controlling interest | 62,733 | 0.61 | |||||
| Net income (loss)(1) | 272,800 | 2.65 | |||||
| Non-cash (gain) loss on derivative instruments, net | (7,062 | ) | (0.07 | ) | |||
| Other non-cash operating expenses | 58 | — | |||||
| Adjusted income excluding above items(1) | 265,796 | 2.58 | |||||
| Income tax adjustment for above items | (7,653 | ) | (0.08 | ) | |||
| Adjusted net income (loss)(1) | 258,143 | 2.50 | |||||
| Less: Adjusted net income (loss) attributed to non-controlling interests | 59,211 | 0.57 | |||||
| Adjusted net income (loss) attributable to Viper Energy, Inc.(1) | $ | 198,932 | $ | 1.93 | |||
| Weighted average Class A common shares outstanding: | |||||||
| Basic | 102,977 | ||||||
| Diluted | 102,977 | ||||||
(1) The Company’s earnings (loss) per diluted share amount has been computed using the two-class method in accordance with GAAP. The two-class method is an earnings allocation which reflects the respective ownership among holders of Class A common shares and participating securities. Diluted earnings per share using the two-class method is calculated as (i) net income attributable to Viper Energy, Inc., (ii) less the reallocation of
RECONCILIATION OF LONG-TERM DEBT TO NET DEBT
The Company defines the non-GAAP measure of net debt as debt (excluding debt issuance costs, discounts and premiums) less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total debt, the most directly comparable GAAP measure. Management uses net debt to determine the Company's outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. The Company believes this metric is useful to analysts and investors in determining the Company's leverage position because the Company has the ability to, and may decide to, use a portion of its cash and cash equivalents to reduce debt.
| December 31, 2024 | Net Q4 Principal Borrowings/ (Repayments) | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | ||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||
| Total long-term debt(1) | $ | 1,091,350 | $ | 261,000 | $ | 830,350 | $ | 1,007,350 | $ | 1,103,350 | $ | 1,093,350 | |||||||||||
| Cash and cash equivalents | (26,851 | ) | (168,649 | ) | (35,211 | ) | (20,005 | ) | (25,869 | ) | |||||||||||||
| Net debt | $ | 1,064,499 | $ | 661,701 | $ | 972,139 | $ | 1,083,345 | $ | 1,067,481 | |||||||||||||
(1) Excludes debt issuance costs, discounts & premiums.
PV-10
PV-10 is the Company’s estimate of the present value of the future net revenues from proved oil and natural gas reserves after deducting estimated production and ad valorem taxes, future capital costs and operating expenses, but before deducting any estimates of future income taxes. The estimated future net revenues are discounted at an annual rate of
The following table reconciles the Company’s standardized measure of discounted future net cash flows, a GAAP financial measure to PV-10, a non-GAAP financial measure. PV-10 should not be considered as an alternative to the standardized measure as computed under GAAP.
| (in thousands) | December 31, 2024 | ||
| Standardized measure of discounted future net cash flows after taxes | $ | 3,319,544 | |
| Add: Present value of future income tax discounted at | 364,976 | ||
| PV-10 | $ | 3,684,520 | |
Derivatives
As of the filing date, the Company had the following outstanding derivative contracts. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and Crude Oil Brent. When aggregating multiple contracts, the weighted average contract price is disclosed.
| Crude Oil (Bbls/day, $/Bbl) | |||||||||||||||||||||||
| Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | FY 2026 | FY 2027 | ||||||||||||||||||
| Deferred Premium Puts - WTI (Cushing) | 20,000 | 20,000 | 18,000 | — | — | — | |||||||||||||||||
| Strike | $ | 55.00 | $ | 55.00 | $ | 55.00 | $ | — | $ | — | $ | — | |||||||||||
| Premium | $ | (1.62 | ) | $ | (1.61 | ) | $ | (1.60 | ) | $ | — | $ | — | $ | — | ||||||||
| Natural Gas (Mmbtu/day, $/Mmbtu) | |||||||||||||||||||||||
| Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | FY 2026 | FY 2027 | ||||||||||||||||||
| Costless Collars - Henry Hub | 60,000 | 60,000 | 60,000 | 60,000 | 60,000 | — | |||||||||||||||||
| Floor | $ | 2.50 | $ | 2.50 | $ | 2.50 | $ | 2.50 | $ | 2.75 | $ | — | |||||||||||
| Ceiling | $ | 4.93 | $ | 4.93 | $ | 4.93 | $ | 4.93 | $ | 6.64 | $ | — | |||||||||||
| Natural Gas (Mmbtu/day, $/Mmbtu) | |||||||||||||||||||||||
| Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | FY 2026 | FY 2027 | ||||||||||||||||||
| Natural Gas Basis Swaps - Waha Hub | 60,000 | 60,000 | 60,000 | 60,000 | 40,000 | 40,000 | |||||||||||||||||
| Swap Price | $ | (0.80 | ) | $ | (0.80 | ) | $ | (0.80 | ) | $ | (0.80 | ) | $ | (1.40 | ) | $ | (1.40 | ) | |||||
Investor Contact:
Chip Seale
+1 432.247.6218
cseale@viperenergy.com
Source: Viper Energy, Inc.; Diamondback Energy, Inc.
FAQ
What was VNOM's Q4 2024 dividend payment and yield?
How much will VNOM's production increase after the Drop Down acquisition?
What was VNOM's proved reserves growth in 2024?
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