Viper Energy (VNOM) Reports Q1 EPS of $0.38

Viper Energy (NASDAQ: VNOM) reported Q1 EPS of $0.38, versus $0.34 reported last year.

HIGHLIGHTS

• Q1 2018 cash distribution of $0.480 per common unit paid on April 27, 2018, up 4% quarter over quarter and 59% year over year; implies a 6.7% annualized yield based on April 30, 2018 unit closing price of $28.80
• Announced proposed election to change tax status from pass-through partnership to a taxable entity; expected to be effective on or after May 10, 2018
• Q1 2018 net income of $42.9 million and distributable cash flow (as defined below) of $55.0 million
• Q1 2018 production of 14,122 boe/d (71% oil), up 14% over Q4 2017 and 66% year over year
• Initiating average production guidance for Q2 2018/Q3 2018 of 15,250 to 16,250 boe/d, the midpoint of which is up 12% from Q1 2018 production
• Raising full year 2018 production guidance to 15,500 to 16,500 boe/d (71% - 75% oil), up 5% from previous full year 2018 guidance and implies 45% annualized growth over full year 2017 production
• Closed 21 acquisitions for an aggregate of approximately $158 million in Q1 2018, increasing Viper's mineral assets by 967 net royalty acres to 10,537 total net royalty acres; up 62% year over year
• Revolving credit facility expected to be increased to $475 million from $400 million with Spring redetermination
• There were approximately 1,075 active well permits and 27 active rigs on Viper's mineral acreage as of April 30, 2018

For earnings history and earnings-related data on Viper Energy (VNOM) click here.

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