Viper Energy Partners ( (VNOM) ) has released its Q4 earnings. Here is a breakdown of the information Viper Energy Partners presented to its investors.
Viper Energy Partners, a subsidiary of Diamondback Energy, focuses on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily in the Permian Basin. The company recently released its financial results for the fourth quarter and full year 2024, showcasing significant growth and strategic acquisitions.
In the fourth quarter of 2024, Viper Energy reported a net income of $272.8 million, with $210.1 million attributable to Viper, boosted by a one-time tax benefit. The company declared a total dividend of $0.65 per Class A common share, reflecting a 5.4% annualized yield. For the full year, Viper achieved a net income of $603.6 million and generated an adjusted EBITDA of $782.2 million, highlighting strong financial performance.
Key highlights include an average production of 29,859 barrels of oil per day in Q4 and 27,156 barrels per day for the full year. Viper also increased its proved reserves by 9% year-over-year, reaching 195,873 Mboe. The company executed strategic acquisitions, including a $1 billion transaction with Diamondback and a $211 million acquisition from Morita Ranches Minerals LLC, enhancing its asset base and production potential.
Looking ahead, Viper Energy is optimistic about its growth prospects, with plans to close a transformative transaction with Diamondback in the second quarter of 2025. The company anticipates increased production levels and continues to focus on strategic acquisitions to bolster its position in the oil and gas sector.