MORGAN STANLEY PLC/CALL/VIPER ENERGY A/42.5/0.5/20.12.24 Share Price

Viper Energy, Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. The Company is primarily focused on oil and natural gas properties primarily in the Permian Basin, which consists of approximately 75,000 square miles centered around Midland, Texas. The Company’s assets consist of mineral interests and royalty interests underlying 1,197,638 gross acres and 34,217 net royalty acres primarily in the Permian Basin. Its estimated proved oil and natural gas reserves totaled 179,249 thousand barrels of crude oil equivalent (MBOE). The Company's proved undeveloped reserves include approximately 529 gross horizontal well locations. The Company’s proved reserves include approximately 50% oil, 25% natural gas liquids and 25% natural gas.