Viper Energy Reports Strong Q3 2024 Performance
Company Announcements

Viper Energy Reports Strong Q3 2024 Performance

Viper Energy Partners ( (VNOM) ) has released its Q3 earnings. Here is a breakdown of the information Viper Energy Partners presented to its investors.

Viper Energy Partners, a subsidiary of Diamondback Energy, operates primarily in the oil and natural gas sector, focusing on owning and acquiring mineral and royalty interests, particularly in the Permian Basin. The company reported its third-quarter 2024 financial results, showcasing a steady performance with a notable increase in production and strategic acquisitions. Viper Energy’s third quarter highlighted a consolidated net income of $109.0 million, with net income attributable to Viper Energy standing at $48.9 million or $0.52 per common share. The company declared a total dividend of $0.61 per Class A common share, reflecting a strong return of capital to shareholders. Additionally, Viper closed significant acquisitions, namely the Tumbleweed Acquisitions, enhancing its mineral and royalty assets portfolio. Viper’s operations remain robust with 330 gross horizontal wells turned to production, reflecting the company’s strategic focus on consolidating high-quality assets. As of September 2024, the company had a cash balance of $168.6 million and net debt of $661.7 million, post-acquisition adjustments. Looking ahead, Viper Energy aims to capitalize on its strong production profile and cost structure, expecting to maintain cash flow efficiency despite market fluctuations.

Related Articles
TheFlyViper Energy price target raised to $58 from $52 at Barclays
TheFlyViper Energy reports Q3 EPS 49c, consensus 47c
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App