Viper Energy, Inc. reported significant financial performance for the first quarter of 2025, with total operating income reaching $245 million, a 20% increase from $205 million in the same period last year. The company’s net income attributable to Viper Energy, Inc. was $75 million, or $0.62 per share, compared to $43 million, or $0.49 per share, in the first quarter of 2024. This growth was driven by increased oil and natural gas production, which totaled 5.16 million barrels of oil equivalent (MBOE), up from 4.20 million MBOE year-over-year. The average daily oil production also rose to 31,311 barrels per day (BO/d), compared to 25,407 BO/d in the prior year.
In terms of operational changes, Viper Energy completed the Morita Ranches Acquisition on February 14, 2025, acquiring mineral and royalty interests in Howard County, Texas, for approximately $211 million in cash and equity. This acquisition added 1,691 net royalty acres to the company’s portfolio, which now totals approximately 60,725 net royalty acres, with 59% operated by Diamondback Energy. Additionally, Viper Energy executed a public offering of 28,336,000 shares of Class A Common Stock in February 2025, generating net proceeds of approximately $1.2 billion, which were utilized to fund acquisitions and general corporate purposes.
The company’s balance sheet showed total assets of $6.24 billion as of March 31, 2025, up from $5.07 billion at the end of 2024. Cash and cash equivalents increased significantly to $560 million from $27 million, reflecting the proceeds from the equity offering. Long-term debt decreased to $822 million from $1.08 billion, indicating improved financial leverage. The company’s stockholders’ equity rose to $5.32 billion, compared to $3.91 billion at the end of the previous fiscal year.
Looking ahead, Viper Energy provided guidance for the second quarter of 2025, estimating net production between 40,000 and 43,000 BO/d and full-year production between 41,000 and 43,500 BO/d. The company anticipates cash taxes for the second quarter to be between $10 million and $15 million, with a cash tax rate of 21% to 23% of pre-tax income. The outlook reflects ongoing monitoring of market conditions, particularly in light of potential volatility in oil and natural gas prices, which could impact future operational decisions and financial performance.
About Viper Energy, Inc.
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