Viper Energy Partners Lp (VNOM) 10-K Annual Report February 2016

VIPER ENERGY PARTNERS LP, A SUBSIDIARY OF DIAMONDBACK ENERGY, INC., REPORTS FOURTH QUARTER 2015 FINANCIAL AND OPERATING RESULTS AND PROVIDES 2016 GUIDANCE

MIDLAND, Texas, February 16, 2016 (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 ended December 31, 2015 and provided 2016 guidance.

HIGHLIGHTS

•

Viper previously announced that the Board of Directors of its general partner has declared a cash distribution for the three months ended December 31, 2015 of $0.228 per common unit (a 14% increase from $0.20 per common unit for the three months ended September 30, 2015), payable on February 26, 2016, to unitholders of record at the close of business on February 19, 2016. This distribution represents an approximate 6% yield when annualized based on the closing price for Viper’s common units on February 12, 2016.


•	Proved reserves as of December 31, 2015 increased 42% year over year to 26.3 MMboe (70% oil, 15% natural gas liquids, 15% natural gas), with a PV-10 of approximately $398.0 million as calculated and reconciled below. Additions replaced 495% (486% organically) of 2015 production.


•	The Company announced its full year 2016 production guidance range of 6,000 to 6,500 boe/d, representing a 15% increase at the midpoint of the range from 2015 production of 5,431 boe/d.


•	Fourth quarter 2015 production was 6,313 boe/d (81% oil), up 10% from 5,715 boe/d (75% oil) in the third quarter of 2015.


•	Net income was $4.9 million and Adjusted EBITDA (as defined and reconciled below) was $18.6 million, for the three months ended December 31, 2015.


•	During the fourth quarter of 2015, the operators of Viper’s Spanish Trail mineral interests brought online 10 gross horizontal wells. In total, the operators of Viper's acreage completed 51 gross horizontal wells during 2015, including 2 Middle Spraberry, 27 Lower Spraberry, 6 Wolfcamp A and 16 Wolfcamp B.


•	Viper had $34.5 million outstanding under its credit agreement with a borrowing base of $200 million as of December 31, 2015.

The following information was filed by Viper Energy Partners Lp (VNOM) on Wednesday, February 17, 2016 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Viper Energy Partners Lp provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 23.2: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 99.1: Additional Exhibits

Ticker: VNOM
CIK: 1602065
Form Type: 10-K Annual Report
Accession Number: 0001602065-16-000045
Submitted to the SEC: Fri Feb 19 2016 4:58:59 PM EST
Accepted by the SEC: Fri Feb 19 2016
Period: Thursday, December 31, 2015
Industry: Crude Petroleum And Natural Gas

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Viper Energy Partners Lp (VNOM) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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