Viper Energy Partners LP Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:01 pm EST
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Viper Energy Partners LP reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 97.43 million compared to USD 1.5 million a year ago. Revenue was USD 293.24 million compared to USD 221.62 million a year ago. Net income was USD 78.6 million compared to USD 79.34 million a year ago. Basic earnings per share from continuing operations was USD 1.11 compared to USD 1.06 a year ago. Diluted earnings per share from continuing operations was USD 1.11 compared to USD 1.06 a year ago.
For the nine months, sales was USD 107.32 million compared to USD 10.51 million a year ago. Revenue was USD 622.99 million compared to USD 662.84 million a year ago. Net income was USD 143.12 million compared to USD 129.97 million a year ago. Basic earnings per share from continuing operations was USD 1.99 compared to USD 1.7 a year ago. Diluted earnings per share from continuing operations was USD 1.99 compared to USD 1.7 a year ago.
Viper Energy, Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. The Company is primarily focused on oil and natural gas properties primarily in the Permian Basin, which consists of approximately 75,000 square miles centered around Midland, Texas. The Companyâs assets consist of mineral interests and royalty interests underlying 1,197,638 gross acres and 34,217 net royalty acres primarily in the Permian Basin. Its estimated proved oil and natural gas reserves totaled 179,249 thousand barrels of crude oil equivalent (MBOE). The Company's proved undeveloped reserves include approximately 529 gross horizontal well locations. The Companyâs proved reserves include approximately 50% oil, 25% natural gas liquids and 25% natural gas.