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Viper Energy Inc. VNOM reported first-quarter 2025 adjusted earnings per share of 54 cents, which beat the Zacks Consensus Estimate of 45 cents. The bottom line improved from the year-ago level of 52 cents. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
The company, with mineral interests in North America’s oil and gas resources, generated an operating income of $245 million, which missed the Zacks Consensus Estimate of $249 million. The top line increased from the year-ago quarter’s figure of $205 million.
The strong quarterly earnings can be attributed to higher oil equivalent production volumes.
Viper Energy Inc. Price, Consensus and EPS Surprise
Viper Energy Inc. price-consensus-eps-surprise-chart | Viper Energy Inc. Quote
Production
The resources, wherein the company has mineral interests, produced 5,164 thousand oil-equivalent barrels (MBoe), up from 4,198 MBoe a year ago. The reported figure outpaced our estimate of 5,163 Mboe.
Oil contributed 54.6% to the total production volume. Oil production increased to 2,818 thousand barrels (MBbls) from 2,312 MBbls a year ago. The reported figure matched our estimate.
The production of crude oil, natural gas and natural gas liquids witnessed an increase from the prior-year levels.
Realized Prices
The overall average realized price per barrel of oil equivalent was $47.25 compared with $48.85 in the first quarter of 2024. Our estimate for the same was pinned at $46.37 per barrel.
Average realized oil price in the quarter under review was $71.33 per barrel, down from $76.61 in the year-ago quarter. The figure surpassed our estimate of $69.76.
The price of natural gas was $2.08 per thousand cubic feet, up from $1.22 in the year-ago quarter. Our estimate for the same was pinned at $2.79.
The price for natural gas liquids was $24.52 a barrel, higher than $22.17 recorded a year ago. Our estimate for the same was pinned at $19.91 per barrel.
Costs & Expenses
In the first quarter, total expenses were $90 million, higher than $66 million recorded in the prior-year quarter. The figure also surpassed our estimate of $88 million.
On a per barrel of oil-equivalent (Boe) basis, total operating expenses were $4.26 compared with $4.51 in the year-ago quarter. Our estimate for the same was pegged at $4.33.
Cash Flow
Net cash provided by operating activities was $201 million, up from $115 million in the first quarter of 2024.
Balance Sheet
As of March 31, 2025, Viper Energy’s cash and cash equivalents were $560 million. The company reported a net long-term debt of $830 million.