Viper Energy

Jul 31, 2023

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Jun 30, 2023

Viper Energy Q2 2023 Earnings Report

Announced financial and operating results for the second quarter ended June 30, 2023.

Key Takeaways

Viper Energy Partners LP reported Q2 2023 results, featuring record average production, increased base distribution, and strategic capital return through unit repurchases. The company's oil production increased by 5% quarter over quarter, marking a fifth consecutive company record. Viper also increased its annual base distribution by 8% to $1.08 per common unit.

Q2 2023 average production of 21,143 bo/d (37,681 boe/d), an increase of 5.1% from Q1 2023 and 7.0% year over year; highest in Company history

Q2 2023 consolidated net income (including non-controlling interest) of $79.9 million; net income attributable to Viper Energy Partners LP of $30.6 million, or $0.42 per common unit

Increasing annual base distribution by 8% to $1.08 per common unit; declared Q2 2023 base cash distribution of $0.27 per common unit

Repurchased 0.9 million common units in Q2 2023 for $24.3 million, excluding excise tax (average price of $26.61 per unit)

Average Daily Oil Production

1.92M