Viper Energy Partners, subsidiary of Midland-based Diamondback Energy, said last week its production reached a company record in 2023Q2. Production was 21,143 barrels of oil per day (37,681 boed) – an increase of 5.1 percent from Q1 and 7.0 percent from 2022Q2. Viper said 285 total gross horizontal wells (5.9 net 100 percent royalty interest) were turned to production on Viper’s acreage during Q2 with an average lateral length of 11,403 feet (Diamondback operates 81 wells, 204 are operated by third parties).
Travis Stice, CEO of Viper’s general partner, said July 31, “We have initiated production guidance for the third quarter that implies roughly 4 percent oil growth relative to the second quarter.” Q3 production guidance is 21,750 to 22,250 b/d of oil and 37,500 to 38,500 boed. Stice added, “It is expected that Viper’s Diamondback-operated net oil volumes will increase over 15 percent for the full year 2023 with a further increase of roughly 10 percent expected for the full year 2024.” Viper’s footprint of mineral and royalty interests was 27,178 net royalty acres as of June 30, 2023.