Viper Energy Partners LP (NASDAQ:VNOM) Q3 2022 Earnings Conference Call November 8, 2022 11:00 AM ET Company Participants Adam Lawlis - Vice President, Investor Relations Travis Stice - Chief Executive Officer Kaes Van't Hof - President Austen Gilfillian - Vice President, Investor Relations Conference Call Participants Neal Dingmann - Truist Securities Tim Rezvan - KeyBanc Capital Markets Leo Mariani - MKM Partners Operator Good day and thank you for standing by. Welcome to the Viper Energy Partners Third Q ...

Investor Presentation November 2022 Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper's: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, returns, cash fl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36505 Viper Energy Partners LP (Exact Name of Registrant As Specified in Its Charter) DE 46-5001985 (I.R.S. Employer Identification Number) (State or Other Jurisdiction of Incorp ...

Viper Energy Partners LP (NASDAQ:VNOM) Q2 2022 Earnings Conference Call August 2, 2022 12:00 PM ET Company Participants Adam Lawlis - Vice President of Investor Relations Travis Stice - Chief Executive Officer Kaes Van't Hof - President Austen Gilfillian - Investor Relations Conference Call Participants Neal Dingmann - Truist Chris Baker - Credit Suisse Jeanine Wai - Barclays Leo Mariani - MKM Partners Operator Good day and welcome to the Viper Energy Partners 2022 Earnings Call. At this time, all particip ...

[PART I. FINANCIAL INFORMATION](index=8&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Viper Energy Partners LP's unaudited Q1 2022 condensed consolidated financial statements highlight increased revenue and net income from higher commodity prices [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets slightly decreased to **$3.001 billion** as of March 31, 2022, with liabilities decreasing and equity modestly increasing Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $136,702 | $111,149 | | **Property, net** | $2,860,747 | $2,920,115 | | **Total Assets** | **$3,001,085** | **$3,034,021** | | **Total Current Liabilities** | $37,104 | $24,466 | | **Long-term debt, net** | $721,005 | $776,727 | | **Total Liabilities** | **$758,109** | **$801,193** | | **Total Equity** | **$2,242,976** | **$2,232,828** | [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net income surged to **$128.0 million** in Q1 2022, primarily due to royalty income more than doubling to **$193.1 million** amid strong commodity prices Condensed Consolidated Statements of Operations (in thousands, except per unit amounts) | Account | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Royalty income | $193,089 | $96,512 | | Total operating income | $201,903 | $96,976 | | Income from operations | $158,669 | $63,220 | | **Net income (loss)** | **$128,041** | **$23,859** | | Net income (loss) attributable to Viper Energy Partners LP | $16,605 | $(3,020) | | **Diluted EPS** | **$0.22** | **$(0.05)** | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities surged to **$135.8 million** in Q1 2022, while financing activities used **$174.2 million** for debt repayment and distributions Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Category | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $135,838 | $54,659 | | Net cash provided by (used in) investing activities | $31,957 | $(74) | | Net cash provided by (used in) financing activities | $(174,177) | $(61,979) | | **Net decrease in cash and cash equivalents** | **$(6,382)** | **$(7,394)** | [Condensed Notes to Consolidated Financial Statements](index=12&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) Detailed notes cover accounting policies, revenue, acquisitions, debt, and equity, highlighting a **$29.3 million** divestiture and **$39.3 million** unit repurchase Royalty Income by Product (in thousands) | Product | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Oil income | $155,051 | $78,344 | | Natural gas income | $15,190 | $9,044 | | Natural gas liquids income | $22,848 | $9,124 | | **Total royalty income** | **$193,089** | **$96,512** | - In Q1 2022, the Partnership divested 325 net royalty acres in the Midland Basin for an aggregate sales price of **$29.3 million**[43](index=43&type=chunk) - During Q1 2022, the Partnership repurchased approximately **$39.3 million** of common units, with **$40.7 million** remaining available under the program, which was subsequently increased to **$250.0 million** on April 27, 2022[54](index=54&type=chunk)[97](index=97&type=chunk) - Subsequent to quarter end, on April 27, 2022, the board approved a cash distribution of **$0.67 per common unit** for Q1 2022[96](index=96&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2022's improved financial results, driven by strong commodity prices and record operational activity, detailing liquidity and capital allocation [Recent Developments and Operational Update](index=23&type=section&id=Recent%20Developments%20and%20Operational%20Update) Q1 2022 performance was significantly influenced by high commodity prices, with record third-party well activity and a **$29.3 million** divestiture of royalty acres - Commodity prices were highly volatile in Q1 2022, with NYMEX WTI ranging from **$47.62 to $123.70 per Bbl**, influenced by the Russian-Ukrainian military conflict and the COVID-19 pandemic[102](index=102&type=chunk) Operational Well Information (Q1 2022) | Metric | Diamondback Operated | Third Party Operated | Total | | :--- | :--- | :--- | :--- | | **Horizontal wells turned to production (Q1 2022)** | | | | | Gross wells | 45 | 230 | 275 | | Net 100% royalty interest wells | 2.0 | 1.9 | 3.9 | | **Horizontal producing well count (as of Apr 13, 2022)** | | | | | Gross wells | 1,384 | 4,357 | 5,741 | | **Horizontal active development well count (as of Apr 13, 2022)** | | | | | Gross wells | 91 | 382 | 473 | [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Royalty income increased significantly year-over-year and quarter-over-quarter, driven by a **65%** rise in average combined sales price and a **21%** increase in production volumes Production and Pricing Comparison (Q1 2022 vs. Q1 2021) | Metric | Q1 2022 | Q1 2021 | % Change | | :--- | :--- | :--- | :--- | | **Production** | | | | | Average daily combined volumes (BOE/d) | 31,567 | 26,066 | +21.1% | | **Average Sales Prices** | | | | | Oil ($/Bbl) | $94.95 | $56.16 | +69.1% | | Combined ($/BOE) | $67.97 | $41.14 | +65.2% | Production and Pricing Comparison (Q1 2022 vs. Q4 2021) | Metric | Q1 2022 | Q4 2021 | % Change | | :--- | :--- | :--- | :--- | | **Production** | | | | | Average daily combined volumes (BOE/d) | 31,567 | 31,359 | +0.7% | | **Average Sales Prices** | | | | | Oil ($/Bbl) | $94.95 | $74.00 | +28.3% | | Combined ($/BOE) | $67.97 | $56.82 | +19.6% | [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2022, total liquidity was **$285.1 million**, with primary cash uses including distributions, debt repayment, and common unit repurchases - Total liquidity at March 31, 2022, was approximately **$285.1 million**, comprising **$33.1 million** in cash and **$252.0 million** available under the credit agreement[133](index=133&type=chunk) - Primary uses of cash included distributions to unitholders, debt repayment, acquisitions, and repurchases of common units and senior notes[133](index=133&type=chunk) - During Q1 2022, the company made net repayments of **$56.0 million** on its revolving credit facility, paid **$78.9 million** in distributions, and repurchased **$39.3 million** of common units[141](index=141&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risks include commodity price volatility, credit risk, and interest rate risk, mitigated by derivative contracts for price fluctuations - The company's major market risk exposure is oil and natural gas pricing, mitigated using derivative instruments like fixed price swaps and costless collars to reduce volatility[151](index=151&type=chunk)[152](index=152&type=chunk) - As of March 31, 2022, the company had a net derivative liability of **$11.5 million**, which would increase by **$4.8 million** with a hypothetical **10%** increase in forward commodity prices[153](index=153&type=chunk) - The company is subject to interest rate risk on its revolving credit facility, which bears interest at a floating rate based on LIBOR or an alternative base rate[155](index=155&type=chunk) [Item 4. Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2022, with no material changes to internal control over financial reporting - Based on an evaluation as of March 31, 2022, the CEO and CFO concluded that the company's disclosure controls and procedures are effective[158](index=158&type=chunk) - No material changes occurred during Q1 2022 that affected internal controls over financial reporting[159](index=159&type=chunk) [PART II. OTHER INFORMATION](index=35&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine litigation, but management does not expect any pending matters to materially affect its financial condition or operations - The company is involved in routine litigation, but management does not expect any pending proceedings to have a material adverse effect on its financial condition or results of operations[162](index=162&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor addresses the unpredictable impact of the Russia-Ukraine conflict on the global economy and energy markets, potentially affecting the company's business - A new risk factor was added regarding the unpredictable impact of the military conflict between Russia and Ukraine on the global economy, energy markets, and the company's business[165](index=165&type=chunk) - No other material changes have been made to the risk factors described in the Annual Report on Form 10-K for the year ended December 31, 2021[164](index=164&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q1 2022, the company repurchased **1,580,200** common units for **$39.3 million**, with the repurchase program authorization subsequently increased to **$250.0 million** Issuer Repurchases of Equity Securities (Q1 2022) | Period | Total Number of Units Purchased | Average Price Paid Per Unit | Approximate Dollar Value of Units that May Yet Be Purchased Under the Plan (as of 3/31/22) | | :--- | :--- | :--- | :--- | | Jan 1 - Jan 31, 2022 | 1,580,200 | $24.85 | $40,715,000 | | Feb 1 - Feb 28, 2022 | — | $— | $40,715,000 | | Mar 1 - Mar 31, 2022 | — | $— | $40,715,000 | | **Total** | **1,580,200** | **$24.85** | | - On April 27, 2022, the board of directors increased the authorization of the common unit repurchase program from **$150.0 million** to **$250.0 million**[169](index=169&type=chunk) [Item 6. Exhibits](index=37&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Quarterly Report on Form 10-Q, including required CEO and CFO certifications and Inline XBRL financial data - The report includes a list of filed exhibits, such as various agreements and required CEO and CFO certifications pursuant to the Securities Exchange Act of 1934[170](index=170&type=chunk)

Viper Energy Partners LP (NASDAQ:VNOM) Q1 2022 Results Conference Call May 3, 2022 12:00 PM ET Company Participants Adam Lawlis - VP, IR Travis Stice - CEO Kaes Van’t Hof - President Austen Gilfillian - IR Conference Call Participants Neal Dingmann - Truist Securities Chris Baker - Credit Suisse Derrick Whitfield - Stifel Jeanine Wai - Barclays Kyle May - Capital One Securities Leo Mariani - KeyBanc Operator Good day. Thank you for standing by, and welcome to the Viper Energy Partners First Quarter 2022 Ear ...

Investor Presentation May 2022 Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper's: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, returns, cash flow, a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36505 Viper Energy Partners LP (Exact Name of Registrant As Specified in Its Charter) DE 46-5001985 (State or Other Jurisdiction of Incorporation or Organization) 500 West Texas Suite 1200 Midla ...

Viper Energy Partners LP (NASDAQ:VNOM) Q4 2021 Earnings Conference Call February 23, 2022 11:00 AM ET Company Participants Adam Lawlis - Vice President, Investor Relations Travis Stice - Chief Executive Officer Kaes Van’t Hof - President Austen Gilfillian - Investor Relations Conference Call Participants Neal Dingmann - Truist Securities Chris Baker - Credit Suisse Derrick Whitfield - Stifel Leo Mariani - KeyBanc Jeanine Wai - Barclays Operator Ladies and gentlemen, thank you for standing by and welcome to ...

Investor Presentation February 2022 Energy Partners Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper's: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, ...