Viper(US:VNOM)2025-02-25 19:00Q4 2024 Review & 2025 Outlook - Q4 2024 cash available for distribution was $086 per share, with a total return of capital to Class A shareholders of $065 per share[9] - Q4 2024 average production reached 29,859 barrels of oil per day (Bo/d) or 56,109 barrels of oil equivalent per day (Boe/d)[9] - Q1 2025 average production is guided to be between 30,000 and 31,000 Bo/d (54,000 – 56,000 Boe/d)[9] - Post Drop Down, the company expects average daily production for the balance of 2025 to be 47,000 – 49,000 Bo/d (85,000 – 88,000 Boe/d)[9] Return of Capital - The base dividend of $030 per share implies a 25% annualized yield, representing approximately 45% of estimated cash available for distribution assuming $50 WTI[9] - A variable dividend for Q4 2024 of $035 per share was declared, bringing the total base-plus-variable dividend to $065 per share, implying a 54% annualized yield[9] - The board authorized a $750 million share repurchase program, with 134 million shares repurchased to date for an aggregate of $316 million at an average of $2349 per share[9] Reserves - Proved reserves at year-end 2024 were 1959 million barrels of oil equivalent (MMBoe), including 936 million barrels of oil (MMBo), representing a 9% increase over year-end 2023 reserves[18] - Net proved reserve additions of 348 MMBoe resulted in a reserve replacement ratio of 191%, with an organic reserve replacement ratio of 121%[18] - Proved developed reserves account for 84% of the total, and the reserves are 48% oil-weighted on a 3-stream basis[18] Financials - Net debt as of December 31, 2024, was $1065 million, with liquidity of $1016 million[14,36] - The company has an elected commitment of $125 billion with $261 million drawn on the revolving credit facility as of December 31, 2024[37]