Viper Energy Partners LP Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
February 22, 2022 at 04:01 pm EST
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Viper Energy Partners LP reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was USD 1.73 million compared to USD 0.9 million a year ago. Revenue was USD 165.79 million compared to USD 76.32 million a year ago. Net income was USD 39.47 million compared to net loss of USD 27.62 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to basic loss per share from continuing operations of USD 0.41 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to diluted loss per share from continuing operations of USD 0.41 a year ago.
For the full year, sales was USD 2.76 million compared to USD 2.59 million a year ago. Revenue was USD 504.92 million compared to USD 250.63 million a year ago. Net income was USD 57.94 million compared to net loss of USD 192.3 million a year ago. Basic earnings per share from continuing operations was USD 0.85 compared to basic loss per share from continuing operations of USD 2.84 a year ago. Diluted earnings per share from continuing operations was USD 0.85 compared to diluted loss per share from continuing operations of USD 2.84 a year ago.
Viper Energy, Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. The Company is primarily focused on oil and natural gas properties primarily in the Permian Basin, which consists of approximately 75,000 square miles centered around Midland, Texas. The Companyâs assets consist of mineral interests and royalty interests underlying 1,197,638 gross acres and 34,217 net royalty acres primarily in the Permian Basin. Its estimated proved oil and natural gas reserves totaled 179,249 thousand barrels of crude oil equivalent (MBOE). The Company's proved undeveloped reserves include approximately 529 gross horizontal well locations. The Companyâs proved reserves include approximately 50% oil, 25% natural gas liquids and 25% natural gas.