Viper Energy (VNOM) Operating Expenses (2024 - 2026)
Viper Energy (VNOM) posted quarterly Operating Expenses of $258.0 million for Q1 2026, up 186.67% year-over-year from $90.0 million in Q1 2025, and down 62.55% quarter-over-quarter from $689.0 million in Q4 2025.
Viper Energy (VNOM) Operating Expenses (2024 - 2026) Analysis & Trends
Viper Energy (VNOM) has reported Operating Expenses for 3 consecutive years, with $258.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 186.67% year-over-year to $258.0 million; the TTM figure through Mar 2026 stood at $1.6 billion (changed N/A YoY), while the FY2025 annual figure was $1.5 billion, up 422.11% from the prior year.
- Operating Expenses fell to $258.0 million in Q1 2026 per VNOM's latest filing, from $689.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $689.0 million in Q4 2025 and bottomed at $75.0 million in Q3 2024.
- Historically, Operating Expenses has averaged $298.5 million across 3 years, with a median of $174.0 million in 2025.
- Annual changes were most pronounced in 2025 — Operating Expenses soared 710.59% — and 2026, when it jumped 186.67%.
- Viper Energy's Operating Expenses stood at $85.0 million in 2024, then jumped by 710.59% to $689.0 million in 2025, then sank by 62.55% to $258.0 million in 2026.
- Business Quant data shows VNOM's Operating Expenses at $258.0 million in Q1 2026, $689.0 million in Q4 2025, and $594.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 3.13 Bn |
| 2 | Enbridge | 111.07 Bn | 109.57 Bn | 5.23 Bn | 19.09 Bn |
| 3 | Enterprise Products Partners | 83.45 Bn | 82.54 Bn | - | 16.13 Bn |
| 4 | Energy Transfer | 72.38 Bn | 71.35 Bn | 7.40 Bn | 30.76 Bn |
| 5 | Tc Energy | 65.96 Bn | 58.40 Bn | 1.24 Bn | 851.61 Mn |
| 6 | Oneok | 60.08 Bn | 59.92 Bn | 2.81 Bn | 4.00 Mn |
| 7 | Mplx | 60.06 Bn | 59.03 Bn | 2.73 Bn | 1.93 Bn |
| 8 | Targa Resources | 59.31 Bn | 59.18 Bn | 2.14 Bn | 354.10 Mn |
| 9 | Cheniere Energy | 56.08 Bn | 54.82 Bn | 5.29 Bn | 1.44 Bn |
| 10 | Viper Energy | 8.32 Bn | 8.24 Bn | - | 249.00 Mn |
Historic Data
Download 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 |
| Mar 31, 2025 | 90.00 Mn |
| Dec 31, 2024 | 85.00 Mn |
| Sep 30, 2024 | 75.00 Mn |