Viper Energy Ut
- 거래소
- 미국
- 국가 / 지역
- USA
- 상장일
- 2014년 6월 18일
종합 밸류에이션 구간 · 보수적 $30–$37 / 적정 $40–$54 / 낙관적 $54–$60. $43.04 기준, 적정 내재가치 구간 내.
보고서 발행 시 $45.5（2026년 5월 31일）
데이터 제공: EODHD, 보고 통화 기준 표시. 참고용일 뿐 투자 자문이 아닙니다.
Viper Energy, Inc. owns, acquires, and exploits oil and natural gas properties in North America. It focuses on owning and acquiring mineral and royalty interests in the Permian Basin. Viper Energy, Inc. was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc. in November 2023. Viper Energy, Inc. was founded in 2013 and is based in Midland, Texas. Viper Energy, Inc. operates as a subsidiary of Diamondback Energy, Inc.
연혁
Viper Energy, Inc. originated as Diamondback Energy's capital-markets vehicle for its Permian mineral and royalty interests. In September 2013 Diamondback acquired a Midland County mineral package of roughly 14,804 gross / 12,687 net acres for $440 million, and on February 27, 2014 formed Viper Energy Partners LP to hold those interests. The company completed its IPO in June 2014 at $26 per unit, issuing 5 million common units with a 750,000-unit over-allotment option; the offering closed June 23, 2014 with net proceeds of about $137.5 million, after which Diamondback still held roughly 70.45 million units, or about 92% of the limited partnership interests. In 2018 Viper made a check-the-box tax election, converting its federal tax status from a pass-through partnership to a taxable entity. In November 2023 it converted from a Delaware limited partnership into a Delaware corporation, changed its name from Viper Energy Partners LP to Viper Energy, Inc., and its listed security shifted from common units to Class A common stock. In 2023 it completed the GRP Acquisition (9,018,760 units plus $747 million cash) for about 4,600 net royalty acres in the Permian and about 2,700 net royalty acres in other basins, alongside a small 2023 Drop Down from Diamondback. In 2024 it made small third-party Permian acquisitions and sold a package of smaller non-Permian assets in the second quarter. In May 2025 it completed the 2025 Drop Down, paying $873 million cash plus 69,626,640 OpCo Units and an equal number of Class B shares for about 24,446 net royalty acres (69% Diamondback-operated). In August 2025 it completed the Sitio Royalties merger for about $4 billion in equity plus assumed net debt, adding about 25,300 net royalty acres in the Permian and about 9,000 net royalty acres in the DJ, Eagle Ford, and Williston basins. In February 2026 it sold a large block of those non-Permian assets for net proceeds of about $610–617 million, used mainly to repay a $500 million term loan and revolving borrowings. In May 2026 it announced the Riverbend acquisition for $337 million cash plus about 3.7 million Class A shares, covering 3,064 net royalty acres (about 75% overlapping existing Viper assets). In 2025 a full-cost ceiling test triggered a $768 million non-cash impairment, producing a GAAP net loss for the year. On management, Travis Stice served as CEO from 2014, stepped down as CEO in February 2025 while remaining a director, and was succeeded by Kaes Van't Hof.
업계 내 위치
Viper Energy operates in the narrow oil and gas mineral and royalty interests segment, focused on the Permian Basin. It owns minerals, royalty interests, and overrides and collects a share of production based on volumes and realized prices, while the actual drilling, completion, and development is done by operators such as Diamondback, ExxonMobil, ConocoPhillips, and EOG; Viper bears essentially no field development capital expenditure. This gives it very low company-level fixed costs: Q1 2026 cash G&A guidance was only $0.70–0.90 per boe, and the company has no employees of its own, with Diamondback providing personnel and G&A services. As of 2025, two operators contributed more than two-thirds of royalty income, with Diamondback at 55% and ExxonMobil at 14%. Of the 655 gross horizontal wells turned to production on its assets in Q1 2026, Diamondback accounted for 114 wells whose average net royalty interest was 7.5%, far above the 1.2% on third-party wells. At the end of Q1 2026 the company held 86,639 net royalty acres, with 1,370 active development wells, 1,351 line-of-sight wells, and 88 rigs operating on its assets. After the Sitio merger, Diamondback was expected to hold about 41% of pro forma common stock, equal to about 38.9% on a fully diluted basis as of Q1 2026. The mineral and royalty industry is highly fragmented, and Viper positions itself as a consolidator. Among listed comparables, Texas Pacific Land is larger (market cap about $27.1 billion) but is not a pure royalty company, also holding water services, surface rights, and land optionality; Black Stone Minerals is a gas-weighted mineral and royalty LP (market cap about $2.88 billion, 77% natural gas); and Kimbell Royalty Partners is a nationally diversified royalty LP spanning 28 states (market cap about $1.79 billion).
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