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Viper Energy Partners Lp (VNOM) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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    10-K Annual Report February 2018
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Viper Energy Partners Lp

CIK: 1602065 Ticker: VNOM

Exhibit 99.1
viperlogoa30a.gif

VIPER ENERGY PARTNERS LP, A SUBSIDIARY OF DIAMONDBACK ENERGY, INC., REPORTS FOURTH QUARTER AND FULL YEAR 2021 FINANCIAL AND OPERATING RESULTS

MIDLAND, Texas, February 22, 2022
(GLOBE NEWSWIRE) -- Viper Energy Partners LP (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the fourth quarter and the full year ended December 31, 2021.

FOURTH QUARTER HIGHLIGHTS
Q4 2021 average production of 18,370 bo/d (31,359 boe/d)
Q4 2021 consolidated net income (including non-controlling interest) of $117.0 million; net income attributable to Viper Energy Partners LP of $39.5 million, or $0.50 per common unit
Adjusted net income (as defined and reconciled below) of $84.4 million, or $1.07 per common unit
Q4 2021 cash distribution of $0.47 per common unit, representing approximately 70% of total cash available for distribution; $0.47 distribution is up 24% quarter over quarter and implies a 7.2% annualized yield based on the February 18, 2022 unit closing price of $26.21
Q4 2021 cash available for distribution of $0.67 per common unit represents a Company record; 12% higher than the previous record of $0.60 per common unit generated in Q2 2018
Repurchased 574,200 common units in Q4 2021 for an aggregate of $12.4 million; from the end of the fourth quarter through January 31, 2022, Viper repurchased an additional 1,580,200 common units for an aggregate of $39.3 million
Consolidated adjusted EBITDA (as defined and reconciled below) of $123.9 million and cash available for distribution to Viper’s common units (as reconciled below) of $52.8 million
Ended the fourth quarter of 2021 with total long-term debt of $783.9 million and net debt of $744.5 million (as defined and reconciled below)
179 total gross (5.1 net 100% royalty interest) horizontal wells turned to production on Viper’s acreage during Q4 2021 with an average lateral length of 10,048 feet
As previously announced, completed acquisition of certain mineral and royalty interests from Swallowtail Royalties LLC and Swallowtail Royalties II LLC (“Swallowtail”); added approximately 2,313 net royalty acres primarily in the Northern Midland Basin, roughly 62% of which are operated by Diamondback
In addition to the Swallowtail acquisition, acquired 350 Diamondback-operated net royalty acres for an aggregate purchase price of $49.1 million during Q4 2021
Subsequent to the end of the fourth quarter of 2021, divested 325 net royalty acres for cash consideration of $29.3 million, subject to post-close adjustments; represents third party operated acreage located entirely in Upton and Reagan counties



The following information was filed by Viper Energy Partners Lp (VNOM) on Tuesday, February 22, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Viper Energy Partners Lp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Statement Of Consolidated Unitholders' Equity
Acquisitions And Divestitures
Acquisitions And Divestitures - 2019 Activity (Details)
Acquisitions And Divestitures - 2020 Acquisitions (Details)
Acquisitions And Divestitures - 2021 Activity (Details)
Acquisitions And Divestitures - Divestiture Of Certain Non-Core Assets And Investments (Details)
Commitments And Contingencies
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Financial Covenants (Details)
Debt - Schedule Of Debt (Details)
Derivatives
Derivatives (Tables)
Derivatives - Gains And Losses On Derivative Instruments Included In Statement Of Operations (Details)
Derivatives - Open Derivative Positions (Details)
Earnings Per Common Unit
Earnings Per Common Unit (Details)
Earnings Per Common Unit (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Fair Value Of Financial Instruments Not Recorded At Fair Value (Details)
Fair Value Measurements - Recurring Measurements (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Components Of Provision For Income Taxes (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Reconciliation Of Statutory Federal Income Tax (Details)
Oil And Natural Gas Interests
Oil And Natural Gas Interests (Details)
Oil And Natural Gas Interests (Tables)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Accrued Liabilities (Details)
Summary Of Significant Accounting Policies - Concentrations (Details)
Summary Of Significant Accounting Policies - Income Taxes (Details)
Summary Of Significant Accounting Policies - Oil And Natural Gas Properties, And Debt Issuance Costs (Details)
Supplemental Information On Oil And Natural Gas Operations (Unaudited)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) (Tables)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) - Additional Information (Details)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) - Aggregate Capitalized Costs Related To Oil And Natural Gas Production Activities (Details)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) - Average First-Day-Of-The-Month Price For Oil, Natural Gas And Natural Gas Liquids (Details)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) - Changes In Estimated Proved Reserves (Details)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) - Costs Incurred In Crude Oil And Natural Gas Activities (Details)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) - Principal Changes In Standardized Measure Of Discounted Future Net Cash Flows (Details)
Supplemental Information On Oil And Natural Gas Operations (Unaudited) - Standardized Measure Of Discounted Future Net Cash Flows (Details)
Unitholders??? Equity And Distributions
Unitholders??? Equity And Distributions (Tables)
Unitholders??? Equity And Distributions - Additional Information (Details)
Unitholders??? Equity And Distributions - Ownership Interest In Subsidiary Changes (Details)
Unitholders??? Equity And Distributions - Schedule Of Partnership Cash Distributions (Details)
Ticker: VNOM
CIK: 1602065
Form Type: 10-K Annual Report
Accession Number: 0001602065-22-000008
Submitted to the SEC: Thu Feb 24 2022 5:26:05 PM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Crude Petroleum And Natural Gas

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