Viper Energy reported average Q4 2025 production of 66,413 bo/d (134,000 boe/d) with cash available for distribution of $145 million ($0.85 per share) and generated adjusted net income of $121 million ($0.72 per share). For the full year, proved reserves rose 107% to 406,035 Mboe, consolidated adjusted EBITDA reached $1.3 billion, and lease bonus income totaled $48 million.

The company declared Q4 base and variable dividends totaling $0.52 per share (4.6% annualized) and repurchased 2.4 million shares for $94 million. Full-year share repurchases amounted to 5.0 million shares for $194 million. It increased its 2026 base dividend by 15% to $1.52 per share and expanded share buyback authorization by $1.0 billion, leaving approximately $1.2 billion available.

Viper closed on its non-Permian asset divestiture for $617 million and enters 2026 with net debt near its $1.5 billion target. It issued average production guidance of 62,500–64,500 bo/d for Q1 and 61,000–67,000 bo/d for the full year, with over 1,380 gross horizontal wells under active development on Permian acreage.