Viper Energy (VNOM) Operating Expenses (2024 - 2026)
Viper Energy (VNOM) recorded Operating Expenses of $249 million in Q2 2026, up 53.7% from $162 million a year earlier but down 3.5% from the prior quarter.
Powered by 
Analysis
Viper Energy (VNOM) Operating Expenses (2024 - 2026) Analysis & Trends
On a TTM basis, Viper Energy's Operating Expenses came in at $1.79 billion as of Jun 30, 2026, up 334.5% year-over-year; for FY2025, it was $1.54 billion, up 422.1% from FY2024.
- Across earlier years, Operating Expenses came in at $294 million in FY2024 (+41.3%) and $208 million in FY2023.
- Quarterly Operating Expenses has ranged from $75 million in Q3 2024 to $689 million in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for four consecutive quarters, with growth averaging 410.7% over the last four quarters.
- Per Business Quant, the preceding three quarters came in at $258 million (Q1 2026), $689 million (Q4 2025) and $594 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 742.51 Bn | 698.99 Bn | - | 96.59 Bn |
| 2 | Chevron | 445.06 Bn | 417.18 Bn | 33.45 Bn | 53.37 Bn |
| 3 | Shell | 310.78 Bn | 240.53 Bn | 30.13 Bn | 8.70 Bn |
| 4 | TotalEnergies SE | 197.34 Bn | 77.92 Bn | 61.77 Bn | 46.44 Bn |
| 5 | Conocophillips | 177.35 Bn | 150.05 Bn | 12.81 Bn | 2.43 Bn |
| 6 | Equinor Asa | 118.67 Bn | 33.12 Bn | - | -22.18 Bn |
| 7 | Phillips 66 | 116.93 Bn | 104.72 Bn | 8.38 Bn | 47.07 Bn |
| 8 | Canadian Natural Resources | 113.22 Bn | 110.23 Bn | 8.84 Bn | 114.95 Mn |
| 9 | Suncor Energy | 95.47 Bn | 81.22 Bn | - | - |
| 10 | Viper Energy | 8.88 Bn | 8.71 Bn | - | 249.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 249.00 Mn |
| Mar 31, 2026 | 258.00 Mn |
| Dec 31, 2025 | 689.00 Mn |
| Sep 30, 2025 | 594.00 Mn |
| Jun 30, 2025 | 162.00 Mn |
| Mar 31, 2025 | 90.00 Mn |
| Dec 31, 2024 | 85.00 Mn |
| Sep 30, 2024 | 75.00 Mn |
API Access
Viper Energy Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=VNOM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "VNOM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=VNOM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();