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Viper Energy Partners LP Common Units VNOM

Rating as of

Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Updating Our Viper FVE to $21 After Including Latest Diamondback, Viper, and Swallowtail Data Points

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

After updating our model to reflect Viper's second-quarter results, our latest Diamondback model refresh, and the announced Swallowtail acquisition, we are increasing our fair value estimate to $21 per unit while maintaining our narrow moat rating.

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Company Profile

Business Description

Viper Energy Partners was formed by Diamondback Energy in 2014 to own mineral royalty interests in the Permian Basin. At the end of 2020, Viper owns 24,350 net royalty acres that produced 26,551 boe/d. Proved reserves are mostly oil, and at the end of 2019 stand at 99,392 mboe.

Contact
500 West Texas, Suite 1200
Midland, TX, 79701
T +1 432 221-7400
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Distressed
Employees