The following is a summary of the Viper Energy, Inc. (VNOM) Q1 2024 Earnings Call Transcript:
Financial Performance:
Viper Energy has started the year strongly with increased production despite falling commodity prices.
They have managed to boost the cash available for distribution per share from the previous quarter.
The Board has announced a combined base plus variable dividend of $0.59 per share for the first quarter.
Business Progress:
Operational updates include the start of production forecasts for Q2, suggesting growth of over 3% compared to Q1.
This considers the divestiture of non-Permian assets, which contributes to an estimated organic growth of nearly 5%.
They have modified the full-year 2024 production guidance in line with the expected loss of 250 barrels of oil per day from non-Permian operations.
More details: Viper Energy IR
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