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Viper Energy Partners Lp (VNOM) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Viper Energy Partners Lp

CIK: 1602065 Ticker: VNOM



Exhibit 99.1
viperlogoa11.gif

VIPER ENERGY PARTNERS LP, A SUBSIDIARY OF DIAMONDBACK ENERGY, INC., REPORTS FOURTH QUARTER 2017 FINANCIAL AND OPERATING RESULTS

MIDLAND, Texas, February 6, 2018 (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, 2017.
 
HIGHLIGHTS
Cash distribution of $0.460 per common unit declared for Q4 2017, up 36% quarter over quarter and 78% year over year; implies a 7.6% annualized yield based on February 5, 2018 unit closing price of $24.06
Q4 2017 net income of $42.1 million and distributable cash flow (as defined below) of $52.4 million
Q4 2017 production of 12,413 boe/d (72% oil), up 57% year over year
Proved reserves as of December 31, 2017 of 38.2 MMboe (74% PDP, 68% oil), up 22% year over year
Initiating average production guidance for 1H 2018 of 14,000 to 15,000 boe/d, the midpoint of which is up 17% from Q4 2017 production
Full year 2018 production guidance of 14,500 to 16,000 boe/d (71% - 75% oil), up 38% from full year 2017 production
From the end of Q3 2017 through February 6, 2018, Viper has closed 37 deals for an aggregate purchase price of approximately $188 million, increasing Viper's mineral assets by 1,297 net royalty acres to 10,470 total net royalty acres; up 63% from year end 2016
Strategically entered into Eagle Ford Shale with immediately accretive purchase of 681 net royalty acres in Karnes, Gonzales and DeWitt counties; estimated 2018 production of ~900 boe/d (77% liquids)
There were approximately 865 active well permits and 17 active rigs on Viper's mineral acreage as of February 2, 2018

“2017 was a transformational year for Viper. We grew production by over 70%, increased our asset base by over 60%, and set four consecutive Company distribution records for a combined $1.43 per unit. Increased activity levels across our properties and our best-in-class cost structure enabled us to generate a return on average capital employed of over 14% for the year, well in excess of our estimated cost of capital,” stated Travis Stice, Chief Executive Officer of Viper’s general partner.

Mr. Stice continued, “Viper closed 112 deals for over $340 million in 2017 and looks to continue this momentum into 2018 as accretive opportunities present themselves. We recently closed our first out-of-basin acquisition with a strategic entrance into what we believe to be the “core of the core” of the Eagle Ford Shale. This oil-weighted acquisition is significantly accretive to 2018 cash flow on a per unit basis and is located in an area with industry-leading single well IRRs exceeding 100%. This acreage offers substantial



The following information was filed by Viper Energy Partners Lp (VNOM) on Tuesday, February 6, 2018 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

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Statement Of Consolidated Unitholders' Equity And Members' Equity
Acquisitions
Acquisitions (details)
Commitments And Contingencies
Debt
Debt (tables)
Debt - Credit Facility (details)
Debt - Financial Covenants (details)
Earnings Per Unit
Earnings Per Unit (details)
Earnings Per Unit (tables)
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)
Partners' Capital And Partnership Distributions
Partners' Capital And Partnership Distributions (details)
Partners' Capital And Partnership Distributions (tables)
Partnership Distributions (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Related Party Transactions
Related Party Transactions (details)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Concentrations And Investments (details)
Summary Of Significant Accounting Policies - Oil And Natural Gas Properties, Capitalized Interest, 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) 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) Results Of Operation From Oil And Natural Gas Producing Activities (details)
Supplemental Information On Oil And Natural Gas Operations (unaudited) Standardized Measure Of Discounted Future Net Cash Flows (details)
Unit-based Compensation
Unit-based Compensation (tables)
Unit-based Compensation Additional Disclosures (details)
Unit-based Compensation Phantom Units (details)
Unit-based Compensation Unit Option Activity (details)
Unit-based Compensation Valuation Assumptions (details)
Ticker: VNOM
CIK: 1602065
Form Type: 10-K Annual Report
Accession Number: 0001602065-18-000006
Submitted to the SEC: Wed Feb 07 2018 5:25:31 PM EST
Accepted by the SEC: Wed Feb 07 2018
Period: Sunday, December 31, 2017
Industry: Crude Petroleum And Natural Gas

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