Welcome to our dedicated page for Viper Energy news (Ticker: VNOM), a resource for investors and traders seeking the latest updates and insights on Viper Energy stock.
Viper Energy, Inc. (NASDAQ: VNOM) is a publicly traded Delaware corporation specializing in the ownership and acquisition of mineral and royalty interests in oil and natural gas properties, predominantly located in the Permian Basin. The Permian Basin is renowned for its rich deposits of oil and natural gas-bearing rock, making it a key area for energy exploration and production.
Core Business: Viper Energy focuses on maximizing returns from its mineral and royalty interests without incurring the exploration and development costs typically associated with traditional oil and gas companies. This unique business model allows Viper to benefit from production activities conducted by other operators in the region.
Recent Achievements: Recently, Viper Energy announced an underwritten public offering of 11,500,000 shares of its Class A common stock by its parent company, Diamondback Energy, Inc. This offering, managed by major financial institutions such as J.P. Morgan, Barclays, Evercore ISI, and Goldman Sachs, aims to raise approximately $402.5 million in gross proceeds. The offering is expected to close on March 8, 2024, subject to customary closing conditions.
Financial Condition: Viper Energy reports strong financial health with consistent revenue streams from its mineral and royalty interests. The company utilizes commodity derivatives to hedge against market volatility, ensuring stable cash flows.
Partnerships: As a subsidiary of Diamondback Energy, Inc., Viper benefits from strategic alignment and shared resources, enhancing its operational efficiency and market reach.
Products and Operations: Viper Energy's primary product is its royalty income derived from oil and gas production. The company regularly updates stakeholders with financial, operational, and guidance reports, ensuring transparency and informed decision-making.
Overall, Viper Energy, Inc. stands out for its strategic focus on mineral and royalty interests, robust financial management, and strong industry partnerships, positioning it as a significant player in the energy sector.
Viper Energy (NASDAQ: VNOM) has announced the pricing of an upsized public offering of 10,000,000 shares of its Class A common stock at $42.50 per share. This represents a 1,500,000 share increase from the originally proposed 8,500,000 share offering. The underwriters have a 30-day option to purchase an additional 1,500,000 shares. Net proceeds are expected to be approximately $413.7 million, or $475.9 million if the underwriters' option is fully exercised.
Viper plans to use the proceeds, along with cash on hand and credit facility borrowings, to fund part of the cash consideration for its pending acquisition of mineral and royalty-interest owning subsidiaries of Tumbleweed Royalty IV, The offering is expected to close on September 13, 2024, subject to customary conditions.
Viper Energy (NASDAQ: VNOM) has launched an underwritten public offering of 8,500,000 shares of its Class A common stock, with an option for underwriters to purchase an additional 1,275,000 shares. The company plans to use the net proceeds, along with cash on hand and credit facility borrowings, to fund part of the cash consideration for its pending acquisition of mineral and royalty-interest owning subsidiaries of Tumbleweed Royalty IV,
Goldman Sachs & Co. , BofA Securities, and Truist Securities are acting as joint book-running managers for the offering. The shares will be issued and sold under an effective automatic shelf registration statement on Form S-3ASR previously filed with the SEC.
Viper Energy, a subsidiary of Diamondback Energy, announced a significant acquisition of mineral and royalty interests in the Permian Basin. The company is set to acquire assets from Tumbleweed Royalty IV for $461 million in cash and 10.1 million OpCo units, with a potential additional payment of up to $41 million in 2026. Viper also closed two related acquisitions for $189 million.
The combined acquisitions include 3,727 net royalty acres, primarily in the Midland Basin. Current production is around 2,500 Bo/d, expected to increase to 4,500 Bo/d in 2025. The deal is projected to increase Viper's 2025 per-share return of capital by 4-5%. Post-acquisition, Viper's preliminary Q4 2024 production guidance is 29,000 to 30,000 bo/d, with 2025 guidance at 30,000 to 33,000 bo/d.
Viper Energy (NASDAQ:VNOM) reported strong Q2 2024 results, with average production of 26,352 bo/d (47,473 boe/d), up 3.7% from Q1. The company announced a consolidated net income of $122.2 million and increased its annual base dividend by 11% to $1.20 per share. Q2 cash available for distribution was $78.4 million, or $0.86 per Class A common share. Viper declared a Q2 base cash dividend of $0.30 and a variable cash dividend of $0.34 per Class A common share, implying a 6.4% annualized yield. The company also closed a divestiture of non-Permian assets for $90.2 million and increased its full-year 2024 production guidance to 26,000-26,750 bo/d.
Viper Energy (NASDAQ: VNOM), a subsidiary of Diamondback Energy (NASDAQ: FANG), has scheduled its second quarter 2024 financial results release for August 5, 2024, after market close. The company will host a conference call and webcast on August 6, 2024, at 10:00 a.m. CT to discuss the results. The webcast and a replay will be available on Viper's Investor Relations section of their website. Viper Energy focuses on owning, acquiring, and exploiting oil and natural gas properties in North America, primarily in the Permian Basin in West Texas. Diamondback Energy, headquartered in Midland, Texas, is dedicated to the development and exploration of unconventional, onshore oil and natural gas reserves in the Permian Basin.
Viper Energy, Inc., a subsidiary of Diamondback Energy, Inc., reported strong first quarter 2024 financial results with 25,407 bo/d production, $99.6 million consolidated net income, and cash dividends declared. They also initiated production guidance for Q2 2024 and updated full year 2024 guidance. The company announced a base dividend of $0.27 per Class A common share and a variable cash dividend of $0.32 per share for Q1 2024. Viper's operations included turning 375 horizontal wells to production and signing an agreement to sell non-Permian assets for $90.3 million. The company's financial update revealed total operating income of $205.4 million, a cash balance of $20.0 million, and $1.1 billion in long-term debt as of March 31, 2024.
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