VNOM
Viper Energy, Inc.38.89
-0.54-1.37%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Leasing tailwinds, resilient activity affirmed
Q&A largely reaffirmed prepared remarks on Viper's Permian strength and 2026 mid-single-digit growth guide, but added color on leasing tailwinds from deeper Midland zones where only 10-15% of acreage is leased, boosting bonuses and inventory. Third-party activity proved resilient amid basin rig declines, thanks to quality operators and new deck disclosures. Management downplayed open-market buybacks at current prices—favoring cash returns—while keeping powder dry for private equity sellers. Wide guide reflects back-half visibility limits on third-party DUCs. Permian oil growth looks likely. Deeper zones unlock value.
Key Stats
Market Cap
12.69BP/E (TTM)
16.00Basic EPS (TTM)
2.43Dividend Yield
0.06%Recent Filings
8-K
17.4M-share secondary priced
Selling stockholders offloaded 17.4M Viper Class A shares at $45.90 in a secondary offering that closed March 4, 2026; Viper got nothing. Concurrently, OpCo repurchased 1M units from Oaktree affiliates at equivalent price, cancelling matching Class B shares under its $1.75B program—with $1.23B still available. Viper tightens ownership.
8-K
Launches 17.4M share secondary
Viper Energy announced a secondary public offering of 17.4M Class A shares by selling stockholders Diamondback Energy, EnCap affiliates, and Oaktree affiliates on March 2, 2026; underwriters hold a 30-day option for 2.6M more. Viper receives no proceeds but will buy 1M OpCo units concurrently from Oaktree affiliates at the offering price. Selling stockholders cash out; Viper boosts insider ownership.
10-K
FY2025 results
Viper Energy crushed FY2025 with royalty income leaping 58% y/y to $1.3B on 91% production growth to 95k BOE/d, fueled by the Sitio Acquisition and 2025 Drop Down adding scale in the Permian; Q4 net production hit 134k BOE/d amid 739 gross wells turned to sales. Yet $768M non-cash impairments stung amid falling SEC prices, flipping net income to a $68M loss (anti-dilutive EPS). Q4 accelerated with 98 rigs active; debt refinanced conservatively at $2.2B while repurchases and 90% CAD payout flexed returns. Post-year non-Permian sale boosted liquidity to $1.4B. Permian curtailments risk Q4 momentum.
8-K
Viper boosts dividend, buyback
Viper Energy reported Q4 2025 production of 66,413 bo/d while posting a $246M net loss from $408M impairment; yet adjusted net income hit $121M. Company hiked base dividend 15% to $1.52/share annually, boosted buyback by $1B to $1.2B remaining, and closed non-Permian sale for $617M proceeds slashing debt. Production guidance: 61,000-67,000 bo/d in 2026. Returns now target over 100% of cash available.
8-K
Viper promotes new General Counsel
Viper Energy promoted Will Krueger to Vice President, General Counsel, and Secretary effective February 18, 2026, filling the role vacated by Matt Zmigrosky. Krueger, still employed by Diamondback E&P LLC, will continue under the November 2023 Services and Secondment Agreement. Smooth transition. Leadership stays tied to parent Diamondback.
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