2024-07-23 20:25:09 ET
Summary
- Viper divested its non-Permian assets for $90.3 million.
- These assets accounted for approximately 2% of its total production.
- Viper trimmed its full-year production guidance slightly, but without the divestiture, total production would have increased by 1%.
- Viper expects solid Permian production growth, with 2H 2024 oil production expected to be around 7% higher than its Q1 2024 Permian oil production.
Viper Energy ( VNOM ) reported relatively strong Q1 2024 results, including total production that was above the high-end of its guidance. After the end of the quarter, it sold all its non-Permian assets for around $90.3 million in cash. These assets accounted for approximately 2% of Viper's production.
As a result of the divestiture, Viper lowered its full-year production guidance slightly, but its total production guidance would have gone up 1% without the divestiture. ...
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Viper Energy: Production Growth Remains Solid From Permian Assets, But Fairly Valued