Viper (VNOM) Update - August 2

[dan_s]

Initial Take from Stifel below. I will focus on updating Vipers model on Wed morning.

Viper Energy Partners LP (VNOM, $29.65, Buy; Target $36.00) - Delivers strong
production growth and enhances shareholder return programs - Derrick Whitfield -

We view this release as positive. The positives include: i) a quarterly production beat
(7.1% above on oil), ii) better than expected 2H22 production guidance (4.2% above
on oil), iii) established a base annual distribution of $1.00/unit, a 3.4% annualized
yield, and iv) increased the repurchase authorization by $500mm. The only negative
was a sequential decline in net well inventory despite an increase in active rigs. Net-
net, Viper delivered a strong quarter and 2H22 guidance that highlights the strength
of the company's business model.