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Viper Energy Partners LP VNOM

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Morningstar’s Analysis

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Diamondback and Viper Remain Undervalued After Challenging Second Quarter; FVEs Intact

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Diamondback's second-quarter results were respectable, given the brutal energy environment, and slightly exceeded CapIQ consensus expectations. The firm reported EBITDA of $414 million and production of 294.1 thousand barrels of oil equivalent per day, or mboe/d, compared with CapIQ consensus estimate of $412 million and 292 mboe/d.

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Company Profile

Business Description

Viper Energy Partners was formed by Diamondback Energy in 2014 to own mineral royalty interests in the Permian Basin. At the end of 2019, Viper owns 24,304 net royalty acres that produced 26,137 boe/d. Proved reserves are mostly oil, and at the end of 2019 stand at 88,946 mboe.

Contact
500 West Texas, Suite 1200
Midland, TX, 79701
T +1 432 221-7400
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees