Viper Energy Inc (NAS:VNOM)
$ 54.45 -0.33 (-0.6%) Market Cap: 5.61 Bil Enterprise Value: 6.29 Bil PE Ratio: 23.37 PB Ratio: 4.00 GF Score: 79/100
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Q2 2024 Viper Energy Inc Earnings Call Transcript

Aug 06, 2024 / 03:00PM GMT
Release Date Price: $43.08 (+9.70%)

Key Points

Positve
  • Oil production grew by roughly 4% quarter over quarter.
  • Cash available for distribution increased by almost 9% over the same period.
  • Full-year production guidance for 2024 has been increased.
  • Board of Directors approved an 11% increase in the annual base dividend.
  • Conversion to a Delaware corporation has expanded the investor base and improved trading liquidity.
Negative
  • Loss of roughly 150 barrels of oil per day of quarterly production from non-Permian assets divested during the second quarter.
  • Rig count on the mineral portfolio is down quarter over quarter.
  • Visibility on non-operated properties is limited at the start of the year.
  • High competition for smaller deals in the mineral space.
  • FTC second request has restricted preparatory work for the Endeavor drop-down deal.
Operator

Good day and thank you for standing by. Welcome to the Viper Energy Second Quarter 2024 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Adam Lawlis, Vice President of Investor Relations. Please go ahead.

Adam Lawlis
Viper Energy Inc - Investor Relations

Thank you, Joe. Good morning and welcome to Viper Energy Second Quarter 2024 conference call. During our call today, we will reference an updated investor presentation, which can be found on Viper's website. Representing Viper today are Travis Stice, CEO; Kaes Van't Hof, President; and Austen Gilfillian, Vice President.

During this conference call, the participants may make certain forward-looking statements relating to the company's financial condition, results of operations, plans, objectives, future performance and businesses. We caution you that actual results could differ materially from those that are indicated in these forward-looking statements due to a variety of

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