Viper Energy is an oil and gas mineral and royalty company focused primarily on interests in the Permian Basin of West Texas and New Mexico. Rather than operating wells itself, it collects royalty and mineral income from production on acreage where it holds rights. The model is asset-light relative to traditional exploration and production companies, with cash flows tied to others’ drilling and commodity prices. Its concentration in one of the most active U.S. shale basins is the core geographic thesis.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q2 2025 | 297 | — | 37 | — |
| Q3 2025 | 418 | — | -78 | — |
| Q4 2025 | 434 | — | -103 | — |
| Q1 2026 | 511 | — | 97 | — |
| Q2 2026 | 673 | 126.6% | 142 | 283.8% |
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