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Dec 31, 2025
Viper Energy Q4 2025 Earnings Report
Reported a fourth quarter net loss driven by impairment, with strong production growth and higher operating income year over year.
Key Takeaways
Viper reported Q4 2025 total operating income of 435000000, up from 229000000 in the prior year, driven by higher oil, natural gas and NGL income. Net loss attributable to Viper was 103000000 primarily due to a 408000000 non-cash impairment charge, while production volumes more than doubled year over year.
Total operating income increased to 435000000 from 229000000 year over year.
Net loss attributable to Viper was 103000000 due to a 408000000 impairment.
Average daily oil production rose to 66413 bo/d from 29859 bo/d.
739 gross horizontal wells were turned to production with 13.0 net royalty wells.
Revenue by Segment
Forward Guidance
For Q1 2026, the company expects net production between 62500 and 64500 bo/d (124000 to 128000 boe/d). For full year 2026, net production is expected between 61000 and 67000 bo/d (120000 to 132000 boe/d).
Positive Outlook
- Base dividend increased 15% to 1.52 annually.
- Share repurchase authorization increased by 1000000000.
- Approximately 1200000000 remains under buyback authorization.
- Strong active development inventory of 1388 gross wells.
- Line-of-sight inventory of 1370 gross wells.
Challenges Ahead
- Q4 net loss driven by 408000000 impairment.
- Higher depletion expense of 234000000.
- Net debt of 2192000000 as of December 31, 2025.
- Commodity price volatility impacting realized prices.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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