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Viper Energy Partners LP (VNOM) CEO Travis Stice on Q2 2021 Results - Earnings Call Transcript

Aug. 03, 2021 3:16 PM ETViper Energy, Inc. (VNOM) Stock3 Comments
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Viper Energy Partners LP (NASDAQ:VNOM) Q2 2021 Earnings Conference Call August 3, 2021 11:00 AM ET

Company Participants

Adam Lawlis - VP, IR

Travis Stice - CEO

Kaes Van't Hof - President

Conference Call Participants

Brian Downey - Citigroup

Chris Baker - Credit Suisse

Neal Dingmann - Truist Securities

Gail Nicholson - Stephens

Pearce Hammond - Piper Sandler

Derrick Whitfield - Stifel


Good day, and thank you for standing by. Welcome to the Viper Energy Partners Second Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Adam Lawlis, Vice President of Investor Relations. Please go ahead.

Adam Lawlis

Thank you, Peter. Good morning and welcome to Viper Energy Partners second quarter 2021 conference call. During our call today, we will reference an updated investor presentation, which can be found on Viper's website. Representing Viper today are Travis Stice, CEO; and Kaes Van't Hof, President.

During this conference call, the participants may make certain forward-looking statements relating to the company’s financial condition, results of operations, plans, objectives, future performance and businesses. We caution you that actual results could differ materially from those that are indicated in these forward-looking statements due to a variety of factors. Information concerning these factors can be found in the company’s filings with the SEC.

In addition, we will make reference to certain non-GAAP measures. The reconciliations with the appropriate GAAP measures can be found in our earnings release issued yesterday afternoon. I’ll now turn the call over to Travis Stice.

Travis Stice

Thank you, Adam. Welcome, everyone, and thank you for listening to Viper Energy Partners second quarter

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Comments (3)

Let's see.....use cash flow to pay down debt and strengthen balance sheet. Distribute 70%, retain 30% to eliminate needing to go to the equity markets to fund smaller deals, focus on acquiring Diamondback operated minerals as well as to buyback units. Utilize sensible hedging to reduce/protect leverage while still producing huge cash flow. And not go all out on production to keep good price enviroment going. Viper management on same page as trusted parent Diamondback regarding both fudiciary and shareholder accountability.

I think I will increase my shares a bit more. Long VNOM, FANG, and RTLR.
Kbbradford profile picture
@lake-rc very well summarized. Stice is consistent, has priorities clearly in order, honesty seems to be a hallmark of the three companies FANG, VNOM & RTLR culture. After listening to xon, OXY, chevron and other conf calls the US producers are wise. OPEC plus failed to realize their pre-pandemic strategy to bankrupt US shale producers (via driving down crude prices through market manipulation) resulted in teaching the industry to rapidly reduce debt and increase efficiency as that type of competitive move (by opec plus) will not work in the future. Smart people learn from their own mistakes, wise people learn from the mistakes of others. Either way Stice completely gets it.
Sensible hedging is good. Hedging in the last quarter limited Biden-imposed oil breakout to +$70 WTI.
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