Viper Energy Lifts 2026 Oil Outlook After Q1 Beat, Announces Riverbend Royalty Deal

Overview

• Viper raised the midpoint of its full‑year oil production guidance by about 2.5%, which management said implies more than 5% organic growth versus its pro forma 2025 exit rate.
• Quarterly production topped expectations as operators on Viper’s acreage turned more than 650 gross horizontal wells to sales, led by Diamondback with 114 wells in the Midland Basin.
• The company announced the Riverbend acquisition, adding over 3,000 net royalty acres and roughly 2,000 barrels of oil per day for $337 million in cash plus 3.7 million Class A shares, with about 75% of the assets overlapping Viper’s existing footprint.
• Viper returned 90% of cash available for distribution in the quarter through a $0.68 per share dividend and $0.28 per share of buybacks, and it reiterated a commitment to return at least 75% going forward.
• Executives said they have sold non‑Permian assets to strengthen the balance sheet and expect private‑equity mineral owners to test the market, positioning Viper as a preferred buyer for larger royalty packages given its model as a mineral and royalty owner reliant on third‑party drilling.