Viper Energy Partners LP Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 01, 2022 at 04:01 pm
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Viper Energy Partners LP reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 0.329 million compared to USD 0.484 million a year ago. Revenue was USD 239.32 million compared to USD 114.15 million a year ago. Net income was USD 34.02 million compared to USD 4.66 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 0.07 a year ago.
For the six months, sales was USD 9.01 million compared to USD 0.809 million a year ago. Revenue was USD 441.23 million compared to USD 211.13 million a year ago. Net income was USD 50.63 million compared to USD 1.64 million a year ago. Basic earnings per share from continuing operations was USD 0.66 compared to USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.66 compared to USD 0.03 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.