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Viper Energy Partners Lp (VNOM) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Viper Energy Partners Lp

CIK: 1602065 Ticker: VNOM



Exhibit 99.1
viperlogoa28.gif

VIPER ENERGY PARTNERS LP, A SUBSIDIARY OF DIAMONDBACK ENERGY, INC., REPORTS FOURTH QUARTER AND FULL YEAR 2019 FINANCIAL AND OPERATING RESULTS

MIDLAND, Texas, February 11, 2020 (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 full year ended December 31, 2019.
 
FOURTH QUARTER HIGHLIGHTS
Q4 2019 cash distribution of $0.45 per common unit; implies an 8.1% annualized yield based on the February 7, 2020 unit closing price of $22.11
Q4 2019 consolidated net income (including non-controlling interest) of $48.5 million, consolidated adjusted EBITDA (as defined and reconciled below) of $85.3 million and cash available for distribution to Viper’s common limited partner units (as reconciled below) of $30.7 million
Q4 2019 average production of 16,476 bo/d (26,137 boe/d), an increase of 20% from Q3 2019 average daily oil production
123 total gross (3.4 net 100% royalty interest) horizontal wells turned to production during Q4 2019 with an average lateral length of 8,895 feet
Closed nine acquisitions for an aggregate purchase price of approximately $912.9 million in Q4 2019, increasing Viper’s mineral interests to a total of 24,304 net royalty acres at December 31, 2019
Initiating average production guidance for 1H 2020 of 16,500 to 18,000 bo/d (26,000 to 28,500 boe/d), the midpoint of which is up 5% from Q4 2019 average daily oil production
Initiating full year 2020 average production guidance of 17,000 to 19,000 bo/d (27,000 to 30,000 boe/d), the midpoint of which is up 28% from full year 2019 average daily oil production
As of January 15, 2020, there were approximately 497 gross horizontal wells currently in the process of active development on Viper’s acreage, in which Viper expects to own an average 2.0% net royalty interest (9.9 net 100% royalty interest wells)
Approximately 420 gross (10.4 net 100% royalty interest) line-of-sight wells which are expected to be turned to production on Viper’s acreage within the next 12 to 15 months, but which have not yet begun the process of active development; based on Diamondback’s current completion schedule and third party operators’ permits
Q3 2019 and Q4 2019 distributions reasonably estimated to not constitute dividends for U.S. federal income tax purposes; instead should generally constitute non-taxable reductions to the tax basis




The following information was filed by Viper Energy Partners Lp (VNOM) on Tuesday, February 11, 2020 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

Cover
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 - Additional Information (Details)
Debt - Financial Covenants (Details)
Debt - Schedule Of Debt (Details)
Earnings Per Unit
Earnings Per Unit (Details)
Earnings Per Unit (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Changes In Fair Value Of The Partnership's Investment (Details)
Fair Value Measurements - Fair Value Of Financial Instruments Not Recorded At Fair Value (Details)
Fair Value Measurements - Narrative (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)
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 (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) - 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)
Unitholders??? Equity And Partnership Distributions
Unitholders??? Equity And Partnership Distributions (Tables)
Unitholders??? Equity And Partnership Distributions - Additional Information (Details)
Unitholders??? Equity And Partnership Distributions - Changes In Number Of Partnership's Units (Details)
Unitholders??? Equity And Partnership Distributions - Schedule Of Partnership Cash Distributions (Details)
Ticker: VNOM
CIK: 1602065
Form Type: 10-K Annual Report
Accession Number: 0001602065-20-000009
Submitted to the SEC: Tue Feb 18 2020 5:21:47 PM EST
Accepted by the SEC: Tue Feb 18 2020
Period: Tuesday, December 31, 2019
Industry: Crude Petroleum And Natural Gas

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