Viper Energy (VNOM) Q4 Earnings Lag Estimates, Improve Y/Y
Zacks Investment Research | Feb 11, 2020 09:39PM ET
Viper Energy Partners LP (NASDAQ:VNOM) reported fourth-quarter 2019 earnings per unit of 3 cents, missing the Zacks Consensus Estimate of 9 cents but improving from the year-ago loss of 1 cent.
The partnership generated operating income of $92.7 million, which beat the Zacks Consensus Estimate of $89 million. Also, the top line increased from the year-ago level of $73.7 million.
The weaker-than-expected earnings can be attributed to fall in overall average realized price and higher costs and expenses, partially offset by increased production volumes.
In fourth-quarter 2019, the partnership closed nine acquisitions for $912.9 million. These acquisitions boosted its mineral interests to 24,304 net royalty acres. The partnership had proved reserves of 88.9 million barrels of oil equivalent as of Dec 31, 2019, of which crude oil constituted 54.4 million barrels. Proved reserves increased 41% year over year.
Viper Energy Partners LP Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.