Viper Energy, Inc.
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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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, 2026 · Filed Nov 4, 2026
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5. Oil and Natural Gas Properties
- OIL AND NATURAL GAS PROPERTIES
Oil and natural gas properties include the following for the periods presented:
| September 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| (In millions) | ||
| Oil and natural gas properties: | ||
| Proved properties | $10,102 | $9,746 |
| Unproved properties(1) | 5,213 | 4,910 |
| Gross oil and natural gas properties | 15,315 | 14,656 |
| Accumulated depletion | (2,173) | (1,567) |
| Accumulated impairment | (888) | (888) |
| Oil and natural gas properties, net | 12,254 | 12,201 |
| Other property, equipment and land | 8 | 8 |
| Accumulated depreciation | (1) | — |
| Total property and equipment, net | $12,261 | $12,209 |
(1)Unevaluated properties not subject to depletion under full cost pool accounting.
As of September 30, 2026, and December 31, 2025, the Company had mineral and royalty properties representing approximately 98,098 and 96,003 net royalty acres, respectively.
Under the full cost method of accounting, the Company is required to perform a ceiling test each quarter. No impairment expense was recorded on the Company’s proved oil and natural gas properties for the three and nine months ended September 30, 2026 based on the results of its ceiling tests. The Company recorded a non-cash ceiling test impairment of $360 million for the three and nine months ended September 30, 2025 as a result of its ceiling tests. In addition to commodity prices, the Company’s production rates, levels of proved reserves, transfers of unevaluated properties, income tax rate assumptions and other factors will determine its actual ceiling test limitations and impairment analysis in future periods. If future SEC Prices decline as compared to the commodity prices used in prior quarters, the Company could have material write-downs in subsequent quarters.
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