$VNOM
Viper Energy Inc

2021 Q3 Form 10-Q Financial Statement

#000160206521000045 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $128.0M $114.2M $32.67M
YoY Change 103.37% 249.41% -54.75%
Cost Of Revenue $8.625M $8.152M $3.110M
YoY Change 70.79% 162.12% -29.16%
Gross Profit $119.4M $106.0M $29.56M
YoY Change 106.22% 258.59% -56.41%
Gross Profit Margin 93.26% 92.86% 90.48%
Selling, General & Admin $1.735M $2.162M $1.680M
YoY Change -4.14% 28.69% -2.33%
% of Gross Profit 1.45% 2.04% 5.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.37M $23.96M $22.80M
YoY Change 2.28% 5.11% 38.18%
% of Gross Profit 21.25% 22.61% 77.13%
Operating Expenses $35.73M $34.29M $27.58M
YoY Change 12.91% 24.36% 21.88%
Operating Profit $92.28M $79.86M $5.094M
YoY Change 194.8% 1467.69% -89.72%
Interest Expense -$8.328M -$7.973M -$7.669M
YoY Change 1.09% 3.96% 182.68%
% of Operating Profit -9.02% -9.98% -150.55%
Other Income/Expense, Net -$17.93M -$37.48M -$38.15M
YoY Change 18.58% -1.76% 1702.93%
Pretax Income $74.35M $42.38M -$33.06M
YoY Change 359.41% -228.2% -169.66%
Income Tax $906.0K $0.00 $0.00
% Of Pretax Income 1.22% 0.0%
Net Earnings $16.83M $4.662M -$21.75M
YoY Change -2303.14% -121.43% -1060.35%
Net Earnings / Revenue 13.15% 4.08% -66.58%
Basic Earnings Per Share
Diluted Earnings Per Share $262.0K $71.95K -$320.7K
COMMON SHARES
Basic Shares Outstanding 64.30M shares 64.71M shares 67.83M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.52M $42.42M $9.700M
YoY Change 461.01% 337.34% -24.22%
Cash & Equivalents $41.52M $42.42M $9.663M
Short-Term Investments
Other Short-Term Assets $654.0K $658.0K $482.0K
YoY Change 76.28% 36.51% 128.44%
Inventory
Prepaid Expenses
Receivables $47.13M $42.01M $32.12M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $111.3M $88.77M $43.18M
YoY Change 103.28% 105.58% -37.3%
LONG-TERM ASSETS
Property, Plant & Equipment $2.338B $2.357B $2.566B
YoY Change -7.89% -8.13% 63.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.567M $4.383M $15.57M
YoY Change -55.73% -71.85% -26.86%
Total Long-Term Assets $2.371B $2.361B $2.581B
YoY Change -6.87% -8.51% 47.36%
TOTAL ASSETS
Total Short-Term Assets $111.3M $88.77M $43.18M
Total Long-Term Assets $2.371B $2.361B $2.581B
Total Assets $2.482B $2.450B $2.624B
YoY Change -4.55% -6.63% 44.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $208.0K $39.00K $11.00K
YoY Change 118.95% 254.55%
Accrued Expenses $26.00M $17.16M $12.44M
YoY Change 24.81% 37.95% 218.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.57M $68.96M $46.41M
YoY Change 39.32% 48.6% 1092.34%
LONG-TERM LIABILITIES
Long-Term Debt $564.5M $534.2M $630.5M
YoY Change -5.59% -15.28% 196.71%
Other Long-Term Liabilities $697.0K $5.900M
YoY Change -87.33%
Total Long-Term Liabilities $565.1M $534.2M $636.4M
YoY Change -6.34% -16.06% 199.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.57M $68.96M $46.41M
Total Long-Term Liabilities $565.1M $534.2M $636.4M
Total Liabilities $626.7M $603.1M $682.8M
YoY Change -3.22% -11.67% 215.53%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $582.7M $596.5M $730.1M
YoY Change
Total Liabilities & Shareholders Equity $2.482B $2.450B $2.624B
YoY Change -4.55% -6.63% 44.16%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $16.83M $4.662M -$21.75M
YoY Change -2303.14% -121.43% -1060.35%
Depreciation, Depletion And Amortization $25.37M $23.96M $22.80M
YoY Change 2.28% 5.11% 38.18%
Cash From Operating Activities $69.99M $74.98M $19.80M
YoY Change 156.38% 278.69% -64.13%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$5.909M -$719.0K -$700.0K
YoY Change -172.06% 2.71% -98.76%
Cash From Investing Activities -$5.909M -$719.0K -$700.0K
YoY Change -172.06% 2.71% -98.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.97M -43.56M -49.70M
YoY Change -7.5% -12.35% -1342.5%
NET CHANGE
Cash From Operating Activities 69.99M 74.98M 19.80M
Cash From Investing Activities -5.909M -719.0K -700.0K
Cash From Financing Activities -34.97M -43.56M -49.70M
Net Change In Cash 29.12M 30.70M -30.60M
YoY Change -1366.0% -200.33% -1233.33%
FREE CASH FLOW
Cash From Operating Activities $69.99M $74.98M $19.80M
Capital Expenditures $0.00
Free Cash Flow $69.99M
YoY Change

Facts In Submission

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CY2021Q2 vnom Limited Partners Capital Account Distribution Equivalent Rights Payments
LimitedPartnersCapitalAccountDistributionEquivalentRightsPayments
55000 USD
CY2021Q2 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
15992000 USD
CY2021Q2 vnom Vnom Limited Partners Capital Account Distribution Amount Related Party
Vnom_LimitedPartnersCapitalAccountDistributionAmountRelatedParty
22886000 USD
CY2021Q2 us-gaap General Partners Capital Account Distribution Amount
GeneralPartnersCapitalAccountDistributionAmount
20000 USD
CY2021Q2 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Net
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesNet
0 USD
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
6779000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
42378000 USD
CY2021Q2 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
1847022000 USD
CY2019Q4 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
2185420000 USD
CY2020Q1 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
387000 USD
CY2020Q1 vnom Limited Partners Capital Account Distribution Equivalent Rights Payments
LimitedPartnersCapitalAccountDistributionEquivalentRightsPayments
20000 USD
CY2020Q1 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
30194000 USD
CY2020Q1 vnom Vnom Limited Partners Capital Account Distribution Amount Related Party
Vnom_LimitedPartnersCapitalAccountDistributionAmountRelatedParty
41173000 USD
CY2020Q1 us-gaap General Partners Capital Account Distribution Amount
GeneralPartnersCapitalAccountDistributionAmount
20000 USD
CY2020Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
383000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-123850000 USD
CY2020Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
1990167000 USD
CY2020Q2 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
283000 USD
CY2020Q2 vnom Limited Partners Capital Account Distribution Equivalent Rights Payments
LimitedPartnersCapitalAccountDistributionEquivalentRightsPayments
4000 USD
CY2020Q2 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
6710000 USD
CY2020Q2 vnom Vnom Limited Partners Capital Account Distribution Amount Related Party
Vnom_LimitedPartnersCapitalAccountDistributionAmountRelatedParty
9175000 USD
CY2020Q2 us-gaap General Partners Capital Account Distribution Amount
GeneralPartnersCapitalAccountDistributionAmount
20000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-33056000 USD
CY2020Q2 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
1941485000 USD
us-gaap Profit Loss
ProfitLoss
66237000 USD
us-gaap Profit Loss
ProfitLoss
66237000 USD
us-gaap Profit Loss
ProfitLoss
-156906000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
142466000 USD
us-gaap Depletion Of Oil And Gas Properties
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48864000 USD
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
47424000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-61050000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-42385000 USD
vnom Cash Receipts From Payments On Derivatives Net
CashReceiptsFromPaymentsOnDerivativesNet
-35882000 USD
vnom Cash Receipts From Payments On Derivatives Net
CashReceiptsFromPaymentsOnDerivativesNet
-2554000 USD
vnom Gain Losson Revaluationof Investments
GainLossonRevaluationofInvestments
0 USD
vnom Gain Losson Revaluationof Investments
GainLossonRevaluationofInvestments
6677000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1992000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1808000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9801000 USD
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable Related Parties
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1681000 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
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us-gaap Increase Decrease In Other Operating Capital Net
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1099000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1067000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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129680000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
115863000 USD
us-gaap Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
819000 USD
us-gaap Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
65272000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-819000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-65272000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
25000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
92000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
47000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
35000000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
13787000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
19822000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
25107000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
36928000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
35712000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
50348000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2919000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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-467000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-105560000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
23301000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6061000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19121000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3602000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42422000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9663000 USD
us-gaap Basis Of Accounting
BasisOfAccounting
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Organization</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Viper Energy Partners LP (the “Partnership”) is a publicly traded Delaware limited partnership focused on owning and acquiring mineral interests and royalty interests in oil and natural gas properties primarily in the Permian Basin. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2021, Viper Energy Partners GP LLC (the “General Partner”) held a 100% general partner interest in the Partnership and Diamondback Energy, Inc. (“Diamondback”) beneficially owned an approximate 59% o</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">f the Partnership’s total</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> limited partner units outstanding. Diamondback owns and controls the General Partner. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying condensed consolidated financial statements and related notes thereto were prepared in accordance with GAAP. All material intercompany balances and transactions have been eliminated upon consolidation. We report our operations in one reportable segment.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed consolidated financial statements have been prepared by the Partnership without audit, pursuant to the rules and regulations of the SEC. They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to SEC rules and regulations, although the Partnership believes the disclosures are adequate to make the information presented not misleading. This report should be read in conjunction with the Partnership’s most recent </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1602065/000160206521000006/vnom-20201231.htm#i700aec8d20af4047910f4616d0b0e309_7" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Annual Report on Form 10–K</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the fiscal year ended December 31, 2020, which contains a summary of the Partnership’s significant accounting policies and other disclosures.</span></div>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. These reclassifications had no effect on the previously reported total assets, total liabilities, unitholders’ equity, results of operations or cash flows.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts included in or affecting the Partnership’s financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership’s disclosure of contingent assets and liabilities as of the date of the financial statements. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Making accurate estimates and assumptions is particularly difficult in the oil and natural gas industry given the challenges resulting from volatility in oil and natural gas prices. For instance, in 2020, the effects of COVID-19 and actions by OPEC members and other exporting nations on the supply and demand in global oil and natural gas markets resulted in significant negative pricing pressure in the first half of 2020, followed by a recovery in pricing and an increase in demand in the second half of 2020 and into 2021. The financial results of companies in the oil and natural gas industry have been impacted materially as a result of changing market conditions. Such circumstances generally increase uncertainty in the Partnership’s accounting estimates, particularly those involving financial forecasts. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Partnership considers reasonable in each particular circumstance. Nevertheless, actual results may differ significantly from the Partnership’s estimates. Any effects on the Partnership’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas </span></div>interests, the recoverability of costs of unevaluated properties, the fair value determination of assets and liabilities, fair value estimates of commodity derivatives and estimates of income taxes.
CY2021Q2 us-gaap Interest Payable Current
InterestPayableCurrent
4321000 USD
CY2020Q4 us-gaap Interest Payable Current
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4311000 USD
CY2021Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
4018000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18262000 USD
CY2020Q4 us-gaap Taxes Payable Current
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6501000 USD
CY2021Q2 us-gaap Derivative Instruments And Hedges Liabilities
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8489000 USD
CY2020Q4 us-gaap Derivative Instruments And Hedges Liabilities
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7392000 USD
CY2021Q2 us-gaap Other Sundry Liabilities Current
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331000 USD
CY2020Q4 us-gaap Other Sundry Liabilities Current
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58000 USD
CY2021Q2 us-gaap Other Accrued Liabilities Current
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17159000 USD
CY2021Q2 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
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1319256000 USD
CY2020Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
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1364906000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
209970000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
109273000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
113458000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32444000 USD
CY2021Q2 us-gaap Capitalized Costs Proved Properties
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1577105000 USD
CY2020Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
1530636000 USD
CY2021Q2 us-gaap Oil And Gas Property Full Cost Method Gross
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2896361000 USD
CY2020Q4 us-gaap Oil And Gas Property Full Cost Method Gross
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2895542000 USD
CY2021Q2 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
545040000 USD
CY2020Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
496176000 USD
CY2021Q2 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
2351321000 USD
CY2020Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
2399366000 USD
CY2021Q2 us-gaap Land
Land
5688000 USD
CY2020Q4 us-gaap Land
Land
5688000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2357009000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2405054000 USD
CY2021Q2 vnom Mineral Properties Net Royalty Acres
MineralPropertiesNetRoyaltyAcres
24341 acre
CY2020Q4 vnom Mineral Properties Net Royalty Acres
MineralPropertiesNetRoyaltyAcres
24350 acre
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2020Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2021Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2021Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
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0.14
CY2021Q2 us-gaap Deferred Finance Costs Net
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1907000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2058000 USD
CY2021Q2 us-gaap Debt Instrument Unamortized Discount
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5851000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
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6236000 USD
CY2021Q2 us-gaap Long Term Debt
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534180000 USD
CY2020Q4 us-gaap Long Term Debt
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555644000 USD
CY2021Q2 us-gaap Net Income Loss
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4662000 USD
CY2020Q2 us-gaap Net Income Loss
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-21752000 USD
us-gaap Net Income Loss
NetIncomeLoss
1642000 USD
us-gaap Net Income Loss
NetIncomeLoss
1642000 USD
us-gaap Net Income Loss
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-163921000 USD
CY2021Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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55000 USD
CY2020Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
4000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
79000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
24000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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4607000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4607000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-21756000 USD
us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
137000 shares
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-21756000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1563000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1563000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-163945000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-163945000 USD
CY2021Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
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64672000 shares
CY2020Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
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67831000 shares
us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
65014000 shares
us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
67827000 shares
CY2021Q2 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
123000 shares
CY2020Q2 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
0 shares
us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
0 shares
CY2021Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
64795000 shares
CY2020Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
67831000 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
65151000 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
67827000 shares
CY2021Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
0.07
CY2020Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.32
us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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0.03
us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-2.42
CY2021Q2 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
0.07
CY2020Q2 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-0.32
us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
0.03
us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-2.42
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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39 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4974 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2021Q2 us-gaap Income Tax Expense Benefit
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0 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
35000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
142466000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.001
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-9.866
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
142500000 USD
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-29546000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-61050000 USD
CY2020Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-34443000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-42385000 USD
CY2021Q2 vnom Cash Receipts From Payments On Derivatives Net
CashReceiptsFromPaymentsOnDerivativesNet
-20940000 USD
CY2020Q2 vnom Cash Receipts From Payments On Derivatives Net
CashReceiptsFromPaymentsOnDerivativesNet
-2101000 USD
vnom Cash Receipts From Payments On Derivatives Net
CashReceiptsFromPaymentsOnDerivativesNet
-35882000 USD
vnom Cash Receipts From Payments On Derivatives Net
CashReceiptsFromPaymentsOnDerivativesNet
-2554000 USD

Files In Submission

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0001602065-21-000045-index-headers.html Edgar Link pending
0001602065-21-000045-index.html Edgar Link pending
0001602065-21-000045.txt Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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vnom-20210630.htm Edgar Link pending
vnom-20210630.xsd Edgar Link pending
vnom-20210630_cal.xml Edgar Link unprocessable
vnom-20210630_def.xml Edgar Link unprocessable
vnom-20210630_htm.xml Edgar Link completed
vnom-20210630_lab.xml Edgar Link unprocessable
vnom-20210630_pre.xml Edgar Link unprocessable