Viper Energy, Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
VNOM$40.19-0.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (In millions, except per share amounts, shares in thousands) | ||||
| Operating income: | ||||
| Oil income | $332 | $187 | $774 | $558 |
| Natural gas income | 15 | 1 | 40 | 9 |
| Natural gas liquids income | 46 | 21 | 110 | 62 |
| Royalty income | 393 | 209 | 924 | 629 |
| Lease bonus income—related party | 17 | — | 17 | — |
| Lease bonus income | 8 | 1 | 19 | 2 |
| Other operating income | — | 1 | — | 1 |
| Total operating income | 418 | 211 | 960 | 632 |
| Costs and expenses: | ||||
| Production and ad valorem taxes | 27 | 15 | 65 | 45 |
| Depletion | 182 | 55 | 373 | 150 |
| Impairment | 360 | — | 360 | — |
| General and administrative expenses—related party | 4 | 3 | 11 | 7 |
| General and administrative expenses | 6 | 2 | 12 | 7 |
| Transaction expenses | 15 | — | 25 | — |
| Total costs and expenses | 594 | 75 | 846 | 209 |
| Income (loss) from operations | (176) | 136 | 114 | 423 |
| Other income (expense): | ||||
| Interest expense, net | (32) | (16) | (60) | (54) |
| Gain (loss) on derivative instruments, net | 18 | 7 | 21 | 5 |
| Gain (loss) on early extinguishment of debt | (32) | — | (32) | — |
| Other income (expense), net | (1) | — | (1) | — |
| Total other income (expense), net | (47) | (9) | (72) | (49) |
| Income (loss) before income taxes | (223) | 127 | 42 | 374 |
| Provision for (benefit from) income taxes | (26) | 18 | 2 | 43 |
| Net income (loss) | (197) | 109 | 40 | 331 |
| Net income (loss) attributable to non-controlling interest | (120) | 60 | 5 | 182 |
| Net income (loss) attributable to Viper Energy, Inc. | $(77) | $49 | $35 | $149 |
| Net income (loss) attributable to common shares: | ||||
| Basic | $(0.52) | $0.52 | $0.25 | $1.64 |
| Diluted | $(0.52) | $0.52 | $0.25 | $1.64 |
| Weighted average number of common shares outstanding: | ||||
| Basic | 148,882 | 93,695 | 133,741 | 90,895 |
| Diluted | 148,931 | 93,747 | 133,868 | 90,989 |
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