MIDLAND, Texas (AP) _ Viper Energy Partners LP (VNOM) on Monday reported a first-quarter loss of $142.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Midland, Texas-based company said it had a loss of $2.10. Earnings, adjusted for non-recurring costs, came to 21 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The oil and gas company posted revenue of $78.7 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $75.3 million.
Viper Energy shares have fallen 65% since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.60, a decline of 73% in the last 12 months.