Viper: Investment Highlights 2Q 20 cash available for distribution of 0.12/unit; Board approved distribution of 0.03 with remaining available cash to be retained for balance sheet strength Q2 2020 Review 2Q 20 average oil production of…
Viper Energy Partners Overview Differentiated Investment Opportunity Viper Mineral and Royalty Assets Unique Relationship with Primary Operator VNOM royalty acreage Diamondback relationship and ownership reduces uncertainty around…
Free Cash Flow Sensitivity Due to its high return and high cash margin structure, Vipers free cash flow is resilient to changes in commodity prices; further upside to commodity prices in 2021 as hedges roll off At 40 oil and…
Portfolio Overview 134 gross (2.4 net) horizontal wells turned to production during Q2 2020 Near-term inventory of 8.1 net wells currently in the process of active development and an additional 8.8 net line-of-sight wells not currently…
Near-Term Inventory Summary and Forward Visibility Diamondback has recently brought three completion crews back to work after taking an almost three-month break from all completion activity in the second quarter of 2020 Diamondback…
Diamondback DUC Backlog Overview Diamondbacks DUC Backlog on Vipers Royalty Acreage as of 6/30/2020 VNOM royalty acreage FANG acreage Andrews/Martin: 10-15 gross DUCs Average NRI: 4.5% Average Lateral: 9,200 Howard: 20-25 gross…
Spectrum of Oil and Gas Interest Ownership 87% of Vipers Royalty Assets Own rights in perpetuity; all development rights revert to mineral owner at 1 expiration of lease Perpetual Mineral Revenue is received from E&P companies as…
Illustrative Delaware Basin Oil & Gas Lease Life Cycle Sign New Lease 2015: Minerals Leased 2018: Extension 2021: CDC Expires 25% royalty No development by Operator does not Lease bonus operator within drill any additional 3-year…
How Viper Defines a Net Royalty Acre Methodology for deriving Net Royalty Vipers Formula for Net Royalty Acreage Acreage differs widely across the industry Many companies calculate assuming there are eight royalty acres for every…
Financial Overview Financial Strategy Viper Capitalization Maintain Financial Flexibility ( in millions) 6/30/2020 Borrowing base of 580 million with only 154 million drawn as of 6/30/2020 Cash 10 Maintain strong liquidity and…
Final Thoughts Viper Energy Partners offers sustainable free cash flow, substantial remaining inventory and upside to future strength in commodity prices Mineral ownership provides surest form of security in the oil industry…
Viper Energy Partners LP Kaes Vant Hof, President 500 West Texas Ave., Suite 1200 (432) 221-7430 Midland, TX 79701 mineralsviperenergy.com www.viperenergy.com Adam Lawlis, Vice President, Investor Relations (432) 221-7430…
Loading...
