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Mar 31, 2022
Viper Energy Q1 2022 Earnings Report
Viper Energy's financial and operating results for Q1 2022 were reported, showcasing a strong increase in distribution and production.
Key Takeaways
Viper Energy Partners LP reported a strong first quarter in 2022, with an increase in distribution by 43% quarter over quarter to $0.67 per common unit. The company's production outperformed expectations, leading to an increase in full-year 2022 oil production guidance by 1.4% at the midpoint. Viper repurchased 1.6 million common units for $39.3 million and increased the authorization for its common unit repurchase program to $250.0 million.
Q1 2022 average production was 18,144 bo/d (31,567 boe/d).
Net income attributable to Viper Energy Partners LP was $16.6 million, or $0.22 per common unit.
Cash distribution of $0.67 per common unit, up 43% quarter over quarter.
Repurchased 1.6 million common units in Q1 2022 for an aggregate of $39.3 million.
Revenue by Segment
Forward Guidance
Viper Energy Partners provided average daily production guidance for Q2 and Q3 2022, as well as updated full year 2022 guidance. They also added guidance for expected cash taxes payable for 2022.
Positive Outlook
- Q2/Q3 2022 Net Production: 18.25 - 19.00 MBo/d
- Q2/Q3 2022 Net Production: 31.00 - 32.25 MBoe/d
- Full Year 2022 Net Production: 18.00 - 19.25 MBo/d
- Full Year 2022 Net Production: 30.50 - 32.75 MBoe/d
- Cash Tax Rate: 10% - 15% of Pre-Tax Income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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