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VNOM - Diamondback Energy: Hope Is What We Have Left
Viper Energy Partners LP
Courtesy: Your Basin
Investment Thesis
The Midland, TX-based Diamondback Energy (FANG) released its second quarter of 2020 on August 5, 2020.
Despite production down "only" 8.4% sequentially, it was considered a better-than-expected output. However, the good news is not helping when we look at revenues and free cash flow. With a realized price at $15.10 per Beo (before hedge), we can't celebrate.
All we have left is hope. We hope that demand will resume soon; hope that oil prices will go up and eventually reach $65; hope for a vaccine before the end