Viper Sets Third-Quarter Guidance at 133,500–135,500 Boe/d in August
Key Facts
In August, Viper Energy set a third-quarter production target range of 133,500 to 135,500 barrels of oil equivalent per day and raised its 2026 production outlook to 132,500–135,000 barrels of oil equivalent per day. The company said its conference call to discuss results for that quarter will be held on November 3, 2026, at 10:00 a.m. Central time. The call comes after the period covered by the guidance, as the third-quarter range was announced before the call scheduled to discuss results. The company’s second-quarter production was 134,363 barrels of oil equivalent per day, according to its filing with the U.S. Securities and Exchange Commission. Oil production in the quarter was also 65,077 barrels per day, figures that provide a basis for comparison with the following quarter without establishing the third-quarter result.
On a quarterly comparison basis, Viper reported second-quarter consolidated net income of $331 million, including noncontrolling interests. Net income attributable to the company was $142 million, or $0.73 per Class A share, while adjusted consolidated net income reached $345 million, or $1.78 per share. These measures show different earnings levels for the same period: consolidated net income, income attributable to Viper, and adjusted income. The figures were included in the company’s second-quarter earnings release filed with the U.S. Securities and Exchange Commission. The company is scheduled to discuss third-quarter results on the day after the official date announcement, giving investors access to the report and its details when released.
The company said in August that its third-quarter guidance reflected its expectation of continued growth in oil production per share, driven by organic and inorganic growth. Chief Executive Officer Kaes Van’t Hof linked that outlook to two sources of growth, development and acquisition-related activity, without giving a separate figure for either contribution in the quote. The announced third-quarter production range was 133,500–135,500 barrels of oil equivalent per day, compared with production of 134,363 barrels of oil equivalent per day in the second quarter. The company set its full-year guidance at 132,500–135,000 barrels of oil equivalent per day. Those ranges remain forecasts issued by the company in August, with results for the period due to be discussed on the November 3 call.
On shareholder returns, Viper announced a 32% increase in its base distribution, taking it to the equivalent of $2.00 annualized per Class A share starting in the third quarter. The company said the distribution is expected to remain covered at a price of about $30 per barrel of West Texas Intermediate crude, according to its August release. In the second quarter, the company repurchased about 3.0 million Class A shares for about $132 million, at an average of $44.34 per share. Total capital returned to Class A shareholders in the quarter was $197 million, or $1.03 per share. The second-quarter figures show that buybacks were part of shareholder returns before the announced change in distribution policy.
The company also changed its capital-return framework, announcing that it would drop its previous commitment to return at least 75% of distributable cash each quarter, effective in the third quarter. It said the new flexibility allows it to direct funds to share repurchases and debt reduction while continuing disciplined mergers and acquisitions. The change places the base distribution policy, which the company raised 32%, within a broader framework that does not tie each quarter to a fixed minimum cash return. The company combined distributions and buybacks in the second quarter, repurchasing 3.0 million shares for about $132 million, while total capital returned was $197 million. Viper is scheduled to present and discuss third-quarter results with investors and analysts on November 3 at 10:00 a.m. Central time.