Document and Entity Information - USD ($) |
12 Months Ended | ||
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Dec. 31, 2017 |
Jan. 31, 2018 |
Jun. 30, 2017 |
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Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2017 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Viper Energy Partners LP | ||
Entity Central Index Key | 0001602065 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Units, Units Outstanding | 113,882,045 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 394,183,228 |
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- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition Document and Entity Information [Abstract] No definition available.
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- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition For an unclassified balance sheet, amount of receivables arising from transactions with related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of the limited partners' ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Depletion of oil and gas property carried under the full cost method. No definition available.
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- Definition Oil and gas properties, gross, carried under the full cost method. No definition available.
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- Definition Oil and gas properties, net of depletion, carried under the full cost method. No definition available.
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- Definition Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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- Definition The current cash, cash equivalents and investments that are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. Includes current cash equivalents and investments that are similarly restricted as to withdrawal, usage or disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
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Statement of Financial Position [Abstract] | ||
Oil and natural gas interests, based on the full cost method of accounting, amount excluded from depletion | $ 514,724 | $ 252,232 |
Common units issued | 113,882,045 | 87,800,356 |
Common units outstanding | 113,882,045 | 87,800,356 |
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- Definition The sum of the capitalized costs incurred, as of the balance sheet date, of unproved properties excluded from amortization including acquisition costs, exploration costs, development costs, and production costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount received to extend the lease term. No definition available.
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- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate amount of net income allocated to limited partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per unit of ownership amount after tax of income (loss) available to limited partnership (LP) unit-holder and units that would have been outstanding assuming the issuance of limited partner units for dilutive potential units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per unit of ownership amount after tax of income (loss) available to outstanding limited partnership (LP) unit-holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A tax assessed on oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Weighted average number of limited partnership units outstanding determined by relating the portion of time within a reporting period that limited partnership units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Weighted average number of limited partnership units outstanding determined by relating the portion of time within a reporting period that limited partnership units have been outstanding to the total time in that period. Used in the calculation of diluted net income or loss per limited partnership unit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The total amount of distributions to related party limited partners. No definition available.
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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition The total amount of distributions to limited partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate amount of net income allocated to limited partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Change in the different classes of partners' capital accounts during the year due to acquisitions. Partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Monetary value of the issuance of new units of limited partnership interest in a public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total change in each class of partners' capital accounts during the year due to unit-based compensation. All partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Change in the number of units for each class of partners' capital accounts during the year due to acquisitions. Partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The number of units sold in a public offering of each class of partners' capital account. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The number of units issued due to unit-based compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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- References No definition available.
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- Definition Amount of amortization expense attributable to debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in the amount due to the reporting entity for good and services provided to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management, an entity and its principal owners, management, member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The increase (decrease) during the reporting period in other obligations or expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash paid, after deduction of cash paid for capitalized interest, for interest. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate amount of net income allocated to limited partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cash outflow to owners or shareholders, excluding ordinary dividends. Includes special dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow from the acquisition of a mineral right which is the right to extract a mineral from the earth or to receive payment, in the form of royalty, for the extraction of minerals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the issuance of common limited partners units during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Organization and Basis of Presentation |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Basis of Presentation | ORGANIZATION AND BASIS OF PRESENTATION Organization Viper Energy Partners LP (the “Partnership”) is a publicly traded Delaware limited partnership, the common units of which are listed on the Nasdaq Global Select Market under the symbol “VNOM”. The Partnership was formed by Diamondback Energy, Inc. (“Diamondback”), on February 27, 2014 to, among other things, own, acquire and exploit oil and natural gas properties in North America. The Partnership is currently focused on oil and natural gas properties in the Permian Basin. Unless the context requires otherwise, references to the “Partnership” are intended to mean the business and operations of Viper Energy Partners LP and its consolidated subsidiary, Viper Energy Partners LLC (the “Predecessor”). As of December 31, 2017, a wholly-owned subsidiary of Diamondback, Viper Energy Partners GP LLC (the “General Partner”), held a 100% non-economic general partner interest in the Partnership and Diamondback had an approximate 64% limited partner interest in the Partnership. Diamondback owns and controls the General Partner. Basis of Presentation The accompanying consolidated financial statements and related notes thereto were prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). All material intercompany balances and transactions are eliminated in consolidation. |
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- References No definition available.
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- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates Certain amounts included in or affecting the Partnership’s financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership’s disclosure of contingent assets and liabilities at the date of the financial statements. The Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Partnership considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Partnership’s estimates. Any effects on the Partnership’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include, but are not limited to, estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, the recoverability of costs of unevaluated properties and unit–based compensation. Cash and Cash Equivalents Cash and cash equivalents represent unrestricted cash on hand and include all highly liquid investments purchased with a maturity of three months or less and money market funds. The Partnership maintains cash and cash equivalents in bank deposit accounts which, at times, may exceed the federally insured limits. The Partnership has not experienced any significant losses from such investments. Restricted Cash In 2014, the Predecessor entered into an agreement to purchase certain overriding royalty interests and deposited $0.5 million in escrow. The Predecessor subsequently terminated the agreement and requested a return of the deposit. The seller challenged the termination and the escrow agent tendered the deposit to the court subject to a judicial determination of the proper payment of the funds. The parties reached a settlement of this matter in April 2017 and the funds were distributed in accordance with the terms of the settlement. Pending such distribution, these funds were classified as restricted cash. Royalty Income Receivable Royalty income receivable consist of receivables from oil and natural gas sales delivered to purchasers. Those purchasers remit payment for production to the operator of the properties and the operator, in turn, remits payment to us. Some of the Partnership’s oil and natural gas properties are contractually operated by Diamondback. Most payments are received within three months after the production date. Royalty income receivable are stated at amounts due from operators, net of an allowance for doubtful accounts when the Partnership believes collection is doubtful. Royalty income receivable outstanding longer than the contractual payment terms are considered past due. The Partnership determines any allowance by considering a number of factors, including the length of time royalty income receivable are past due, the Partnership’s previous loss history, the debtor’s current ability to pay its obligation to us, the condition of the general economy and the industry as a whole. The Partnership writes off specific royalty income receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for doubtful accounts. The Partnership determined that an allowance was unnecessary at both December 31, 2017 and 2016. Fair Value of Financial Instruments Our financial instruments consist of cash and cash equivalents, receivables, payables and a credit agreement. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value because of the short-term nature of the instruments. Oil and Natural Gas Properties The Partnership uses the full cost method of accounting for its oil and natural gas properties. Under this method, all acquisition, exploration and development costs, including certain internal costs, are capitalized and amortized on a composite unit of production method based on proved oil, natural gas liquids and natural gas reserves. Internal costs capitalized to the full cost pool represent management’s estimate of costs incurred directly related to exploration and development activities such as geological and other administrative costs associated with overseeing the exploration and development activities. All internal costs not directly associated with exploration and development activities were charged to expense as they were incurred. Sales of oil and natural gas properties, whether or not being amortized currently, are accounted for as adjustments of capitalized costs, with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil, natural gas liquids and natural gas. At December 31, 2017 and 2016, the Partnership’s oil and natural gas properties consist solely of mineral interests in oil and natural gas properties. Depletion of evaluated oil and natural gas properties is computed on the units of production method, whereby capitalized costs are amortized over total proved reserves. The average depletion rate per barrel equivalent unit of production was $10.07, $12.67 and $17.88 for the years ended December 31, 2017, 2016 and 2015, respectively. Depletion for oil and gas properties was $40.5 million, $29.8 million and $35.4 million for the years ended December 31, 2017, 2016 and 2015, respectively. Under the full cost method of accounting, the Partnership is required to perform a ceiling test each quarter. The test determines a limit, or ceiling, on the book value of the proved oil and gas properties. Net capitalized costs are limited to the lower of unamortized cost net of deferred income taxes, or the cost center ceiling. The cost center ceiling is defined as the sum of (a) estimated future net revenues, discounted at 10% per annum, from proved reserves, based on the trailing 12-month unweighted average of the first-day-of-the-month price, adjusted for any contract provisions and excluding the estimated abandonment costs for properties with asset retirement obligations recorded on the balance sheet, (b) the cost of properties not being amortized, if any, and (c) the lower of cost or market value of unproved properties included in the cost being amortized. If the net book value exceeds the ceiling, an impairment or non-cash writedown is required. During the years ended December 31, 2016 and 2015, the Partnership recorded impairments on proved oil and natural gas properties of $47.5 million and $3.4 million, respectively. No impairment on proved oil and natural gas properties was recorded for the year ended December 31, 2017. Costs associated with unevaluated properties are excluded from the full cost pool until the Partnership has made a determination as to the existence of proved reserves. The Partnership assesses all items classified as unevaluated property on an annual basis for possible impairment. The Partnership assesses properties on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of the following factors, among others: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; the assignment of proved reserves; and the economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to amortization. Debt Issuance Costs Other assets include capitalized costs of $4.4 million, $2.2 million and $1.7 million, net of accumulated amortization of $1.4 million, $0.8 million and $0.4 million as of December 31, 2017, 2016 and 2015, respectively. The costs are associated with the Partnership’s credit agreement and are being amortized over the term of the credit agreement. Royalty Interest and Revenue Recognition Royalty interest represents the right to receive revenues (oil and natural gas sales), less production and operating taxes and post-production costs. Revenue is recorded when title passes to the purchaser. Royalty interest has no rights or obligations to explore, develop or operate the property and does not incur any of the costs of exploration, development and operation of the property. Concentrations The Partnership is subject to risk resulting from the concentration of the Partnership’s royalty interest revenues in producing oil and natural gas properties and receivables with several significant purchasers. For the year ended December 31, 2017, two purchasers each accounted for more than 10% of royalty interest revenue: Shell Trading (US) Company (“Shell Trading”) (47%) and RSP Permian LLC (23%). For the year ended December 31, 2016, two purchasers each accounted for more than 10% of royalty interest revenue: Shell Trading (57%) and RSP Permian LLC (32%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of royalty interest revenue: Shell Trading (68%) and RSP Permian LLC (25%). The Partnership does not require collateral and does not believe the loss of any single purchaser would materially impact the Partnership’s operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. Investments The Partnership has an equity interest in a limited partnership that is so minor that the Partnership has no influence over partnership operating and financial policies. This interest was acquired during the year ended December 31, 2014 and is accounted for under the cost method. Under the cost method, investments are carried at cost and are adjusted only for other than temporary declines in fair value, certain distributions and additional investments. As of December 31, 2017, the book value of this investment was $33.9 million, which is included in other assets in the accompanying consolidated balance sheets. Earnings Per Unit Earnings per unit applicable to limited partners is computed by dividing limited partners’ interest in net income by the weighted average number of outstanding common units. Unit–Based Compensation Unit–based compensation awards are measured at fair value on the date of grant and are expensed, net of estimated forfeitures, over the required service period. See Note 7—Unit–Based Compensation. Income Taxes The Partnership is organized as a pass-through entity for income tax purposes. As a result, the Partnership’s partners are responsible for federal income taxes on their share of the Partnership’s taxable income. The Partnership is subject to the Texas margin tax. Diamondback does not expect any Texas margin tax to be due for the years ended December 31, 2017, 2016 and 2015, so no amount has been provided in the accompanying financial statements. New Accounting Pronouncements Recently Issued Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers”. This update supersedes most of the existing revenue recognition requirements in GAAP and requires (i) an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services and (ii) requires expanded disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows from contracts with customers. The Partnership will adopt this Accounting Standards Update effective January 1, 2018 using the modified retrospective approach. The Partnership has reviewed various contracts that represent its material revenue streams and determined that there will be no impact to its financial position, results of operations or liquidity. Upon adoption of this Accounting Standards Update, the Partnership will not be required to record a cumulative effect adjustment due to the new Accounting Standards Update not having a quantitative impact compared to existing GAAP. Also, upon adoption of this Accounting Standards Update, the Partnership will not be required to alter its existing information technology and internal controls outside of ongoing contract review processes in order to identify impacts of future revenue contracts entered into by the Partnership. The Partnership does not anticipate the disclosure requirements under the Accounting Standards Update to have a material change on how it presents information regarding its revenue streams as compared to existing GAAP. In January 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-01, “Financial Instruments–Overall”. This update applies to any entity that holds financial assets or owes financial liabilities. This update requires equity investments (except for those accounted for under the equity method or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. The Partnership will adopt this standard effective January 1, 2018 by means of a cumulative-effect adjustment which will decrease Unitholders’ Equity and will bring the fair value of its investment to $15.2 million or $15.20 per unit for that investment. In November 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-18, “Statement of Cash Flows - Restricted Cash”. This update affects entities that have restricted cash or restricted cash equivalents. The Partnership will adopt this update retrospectively effective January 1, 2018. The adoption of this update will only effect the presentation on the Statement of Cash Flows. In January 2017, the Financial Accounting Standards Board issued Accounting Standards Update 2017-01, “Business Combinations - Clarifying the Definition of a Business”. This update apples to all entities that must determine whether they acquired or sold a business. This update provides a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. The Partnership will adopt this update prospectively effective January 1, 2018. The adoption of this update will not have an impact on its financial position, results of operations or liquidity. Accounting Pronouncements Not Yet Adopted In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-02, “Leases”. This update applies to any entity that enters into a lease, with some specified scope exemptions. Under this update, a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. While there were no major changes to the lessor accounting, changes were made to align key aspects with the revenue recognition guidance. This update will be effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. Entities will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. As of the filing date, the Partnership was not the lessor or lessee of any leases other than mineral leases which were excluded from the scope of this Accounting Standards Update. Therefore, the Partnership believes the adoption of this update will not have an impact on its financial position, results of operations or liquidity. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-13, “Financial Instruments - Credit Losses”. This update affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. This update will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Partnership does not believe the adoption of this standard will have an impact on its financial statements since it does not have a history of credit losses. |
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- References No definition available.
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions |
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Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Acquisitions | ACQUISITIONS 2017 Activity During the year ended December 31, 2017, the Partnership acquired mineral interests underlying 3,157 net royalty acres for an aggregate of approximately $343.1 million and, as of December 31, 2017, had mineral interests underlying 9,570 net royalty acres. The Partnership funded these acquisitions primarily with borrowings under its revolving credit facility, with a portion of the net proceeds from its January and July 2017 offerings of common units and with the issuance of 174,513 common units to a seller in a private placement in May 2017. 2016 Activity During the year ended December 31, 2016, the Partnership acquired mineral interests underlying 2,142 net royalty acres in 63 transactions for an aggregate of approximately $205.7 million. The Partnership funded these acquisitions primarily with borrowings under its revolving credit facility and a portion of the net proceeds from its August 2016 offering of common units. 2015 Activity During the year ended December 31, 2015, the Partnership acquired an approximate average 1.5% overriding royalty interest in certain acreage primarily located in Howard County, Texas from Diamondback for $31.1 million. This acquisition was primarily funded with borrowings under the Partnership’s credit agreement discussed in Note 5. |
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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Oil and Natural Gas Interests |
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Oil and Natural Gas Interests | OIL AND NATURAL GAS INTERESTS Oil and natural gas interests include the following:
Costs associated with unevaluated properties are excluded from the full cost pool until a determination as to the existence of proved reserves is able to be made. The inclusion of the Partnership’s unevaluated costs into the amortization base is expected to be completed within three to five years. Under the full cost method of accounting, the Partnership is required to perform a ceiling test each quarter. The test determines a limit, or ceiling, on the book value of the proved oil and gas interests. Net capitalized costs are limited to the lower of unamortized cost or the cost center ceiling. The cost center ceiling is defined as the sum of (a) estimated future net revenues, discounted at 10% per annum, from proved reserves, based on the trailing 12-month unweighted average of the first-day-of-the-month price, adjusted for any contract provisions or financial derivatives, if any, that hedge the Partnership’s oil and natural gas revenue, (b) the cost of interests not being amortized, if any, and (c) the lower of cost or market value of unproved interests included in the cost being amortized. If the net book value exceeds the ceiling, an impairment or non-cash write down is required. As a result of the decline in prices, the Partnership recorded non-cash impairments for the years ended December 31, 2016 and 2015 of $47.5 million and $3.4 million, respectively, which are included in accumulated depletion and impairment. There was no impairment recorded for the year ended December 31, 2017. For 2016 and 2015, the impairment charges affected the Partnership’s reported net loss but did not reduce its cash flow. In addition to commodity prices, the Partnership’s production rates, levels of proved reserves, future development costs, transfers of unevaluated properties and other factors will determine its actual ceiling test limitations and impairment analysis in future periods. |
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- References No definition available.
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- Definition The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt | DEBT Credit Agreement-Wells Fargo Bank On July 8, 2014, the Partnership entered into a secured revolving credit agreement with Wells Fargo, as administrative agent, and Wells Fargo Securities, as sole book runner and lead arranger. The credit agreement, as amended, provides for a revolving credit facility in the maximum credit amount of $2.0 billion and a borrowing base based on its oil and natural gas reserves and other factors (the “borrowing base”) of $400.0 million, subject to scheduled semi-annual and other elective borrowing base redeterminations. The borrowing base is scheduled to be re-determined semi-annually with effective dates of May 1st and November 1st. In addition, the Partnership may request up to three additional redeterminations of the borrowing base during any 12-month period. As of December 31, 2017, the borrowing base was set at $400.0 million, and the Partnership had $93.5 million of outstanding borrowings and $306.5 million available for future borrowings under its revolving credit facility. The outstanding borrowings under the credit agreement bear interest at a rate elected by the Partnership that is equal to an alternative base rate (which is equal to the greatest of the prime rate, the Federal Funds effective rate plus 0.50% and 3-month LIBOR plus 1.0%) or LIBOR, in each case plus the applicable margin. The applicable margin ranges from 0.75% to 1.75% per annum in the case of the alternative base rate and from 1.75% to 2.75% per annum in the case of LIBOR, in each case depending on the amount of loans and letters of credit outstanding in relation to the commitment, which is defined as the lesser of the maximum credit amount and the borrowing base. The Partnership is obligated to pay a quarterly commitment fee ranging from 0.375% to 0.500% per year on the unused portion of the commitment, which fee is also dependent on the amount of loans and letters of credit outstanding in relation to the commitment. Loan principal may be optionally repaid from time to time without premium or penalty (other than customary LIBOR breakage), and is required to be repaid (a) to the extent the loan amount exceeds the commitment or the borrowing base, whether due to a borrowing base redetermination or otherwise (in some cases subject to a cure period), (b) in an amount equal to the net cash proceeds from the sale of property when a borrowing base deficiency or event of default exists under the credit agreement and (c) at the maturity date of November 1, 2022. The loan is secured by substantially all of our and our subsidiary’s assets. The credit agreement contains various affirmative, negative and financial maintenance covenants. These covenants, among other things, limit additional indebtedness, additional liens, sales of assets, mergers and consolidations, dividends and distributions, transactions with affiliates and entering into certain swap agreements and require the maintenance of the financial ratios described below.
The covenant prohibiting additional indebtedness allows for the issuance of unsecured debt of up to $400.0 million in the form of senior unsecured notes and, in connection with any such issuance, the reduction of the borrowing base by 25% of the stated principal amount of each such issuance. A borrowing base reduction in connection with such issuance may require a portion of the outstanding principal of the loan to be repaid. As of December 31, 2017, the Partnership was in compliance with all financial covenants under its credit agreement. The lenders may accelerate all of the indebtedness under our revolving credit facility upon the occurrence and during the continuance of any event of default. The credit agreement contains customary events of default, including non-payment, breach of covenants, materially incorrect representations, cross-default, bankruptcy and change of control. With certain specified exceptions, the terms and provisions of the Partnership’s credit agreement generally may be amended with the consent of the lenders holding a majority of the outstanding loans or commitments to lend. |
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- References No definition available.
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- Definition The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions |
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Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS Acquisition During the year ended December 31, 2015, the Partnership acquired an approximate average 1.5% overriding royalty interest in certain acreage primarily located in Howard County, Texas from Diamondback for $31.1 million. This acquisition was primarily funded with borrowings under the Partnership’s credit agreement discussed in Note 5. Partnership Agreement In connection with the closing of the IPO, the General Partner and Diamondback entered into the first amended and restated agreement of limited partnership dated June 23, 2014 (the “Partnership Agreement”). The Partnership Agreement requires the Partnership to reimburse the General Partner for all direct and indirect expenses incurred or paid on the Partnership’s behalf and all other expenses allocable to the Partnership or otherwise incurred by the General Partner in connection with operating the Partnership’s business. The Partnership Agreement does not set a limit on the amount of expenses for which the General Partner and its affiliates may be reimbursed. These expenses include salary, bonus, incentive compensation and other amounts paid to persons who perform services for the Partnership or on the Partnership’s behalf and expenses allocated to the General Partner by its affiliates. The General Partner is entitled to determine the expenses that are allocable to the Partnership. For the year ended December 31, 2017, the General Partner received from the Partnership reimbursements of $2.5 million. For the year ended December 31, 2016, the General Partner did not receive any reimbursements from the Partnership. For the year ended December 31, 2015, the General Partner did not receive any reimbursements from the Partnership other than the $4,000 outstanding at December 31, 2014. Advisory Services Agreement In connection with the closing of the IPO, the Partnership and General Partner entered into an advisory services agreement with Wexford Capital LP (“Wexford”) dated as of June 23, 2014 (the “Advisory Services Agreement”), under which Wexford agreed to provide the Partnership and the General Partner with general financial and strategic advisory services related to the Partnership’s business in return for an annual fee of $0.5 million, plus reasonable out-of-pocket expenses. The Advisory Services Agreement had an initial term of two years commencing on June 23, 2014, and continues for additional one-year periods unless terminated in writing by either party at least ten days prior to the expiration of the then current term. It may be terminated at any time by either party upon 30 days prior written notice. In the event the Partnership terminates the Advisory Services Agreement, the Partnership is obligated to pay all amounts due through the remaining term. In addition, the Partnership agreed to pay Wexford to-be-negotiated market-based fees approved by the conflict committee of the board of directors of the General Partner, if, and to the extent, the Partnership requests services from Wexford in connection with acquisitions and divestitures, financings or other transactions in which the Partnership may be involved. The services provided by Wexford under the Advisory Services Agreement do not extend to the Partnership’s day-to-day business or operations. The Partnership has agreed to indemnify Wexford and its affiliates from their losses arising out of or in connection with the Advisory Services Agreement except for losses resulting from Wexford’s or its affiliates’ gross negligence or willful misconduct. For the years ended December 31, 2017 and 2016, the Partnership did not pay any amounts under the Advisory Services Agreement. For the year ended December 31, 2015, the Partnership paid $0.5 million under the Advisory Services Agreement. Tax Sharing In connection with the closing of the IPO, the Partnership entered into a tax sharing agreement with Diamondback, dated June 23, 2014, pursuant to which the Partnership agreed to reimburse Diamondback for its share of state and local income and other taxes for which the Partnership’s results are included in a combined or consolidated tax return filed by Diamondback with respect to taxable periods including or beginning on June 23, 2014. The amount of any such reimbursement is limited to the tax the Partnership would have paid had it not been included in a combined group with Diamondback. Diamondback may use its tax attributes to cause its combined or consolidated group, of which the Partnership may be a member for this purpose, to owe less or no tax. In such a situation, the Partnership agreed to reimburse Diamondback for the tax the Partnership would have owed had the tax attributes not been available or used for the Partnership’s benefit, even though Diamondback had no cash tax expense for that period. Lease Bonus During the year ended December 31, 2017, Diamondback paid the Partnership $0.1 million in lease bonus payments to extend the term of two leases, reflecting an average bonus of $7,459 per acre. During the year ended December 31, 2016, Diamondback paid the Partnership $0.3 million in lease bonus payments to extend the term of six leases, reflecting an average bonus of $1,371 per acre. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Unit-Based Compensation |
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Unit-Based Compensation | UNIT–BASED COMPENSATION In connection with the IPO, the board of directors of the General Partner adopted the Viper Energy Partners LP Long Term Incentive Plan (“LTIP”), effective June 17, 2014, for employees, officers, consultants and directors of the General Partner and any of its affiliates, including Diamondback, who perform services for the Partnership. The LTIP provides for the grant of unit options, unit appreciation rights, restricted units, unit awards, phantom units, distribution equivalent rights, cash awards, performance awards, other unit-based awards and substitute awards. A total of 9,070,356 common units has been reserved for issuance pursuant to the LTIP. Common units that are cancelled, forfeited or withheld to satisfy exercise prices or tax withholding obligations will be available for delivery pursuant to other awards. The LTIP is administered by the board of directors of the General Partner or a committee thereof. For the years ended December 31, 2017, 2016 and 2015, the Partnership incurred $2.4 million, $3.8 million and $3.9 million, respectively, of unit–based compensation. Unit Options In accordance with the LTIP, the exercise price of unit options granted may not be less than the market value of the common units at the date of grant. The units issued under the LTIP will consist of new common units of the Partnership. On June 17, 2014, the Partnership granted 2,500,000 unit options to the executive officers of the General Partner. The unit options vested approximately 33% ratably on each of the first three anniversaries of the date of grant. All outstanding unit options were amended effective November 29, 2016 to provide that vested unit options became exercisable upon the earlier to occur of (i) the “Exercise Window Period” beginning on the third anniversary of the date of grant and ending on December 31, 2017, or (ii) the “Change of Control Exercise Period” beginning ten days before and ending on the date a change of control occurs (the earlier occurring of such events, the “Exercise Period”). At any time within the Exercise Period, if a participant attempted to exercise a vested unit option and the fair market value per unit as of such date was less than the exercise price per option unit, the vested unit option would not be exercisable. As of December 31, 2017, all vested unit options automatically terminated and became null and void. The fair value of the unit options on the date of grant is expensed over the applicable vesting period. The Partnership estimates the fair values of unit options granted using a Black-Scholes option valuation model, which requires the Partnership to make several assumptions. At the time of grant the Partnership did not have a history of market prices, thus the expected volatility was determined using the historical volatility for a peer group of companies. The expected term of options granted was determined based on the contractual term of the awards. The risk-free interest rate is based on the U.S. treasury yield curve rate for the expected term of the unit option at the date of grant. The expected dividend yield was based upon projected performance of the Partnership.
The following table presents the unit option activity under the LTIP for the year ended December 31, 2017:
Phantom Units Under the LTIP, the board of directors of the General Partner is authorized to issue phantom units to eligible employees. The Partnership estimates the fair value of phantom units as the closing price of the Partnership’s common units on the grant date of the award, which is expensed over the applicable vesting period. Upon vesting the phantom units entitle the recipient to one common unit of the Partnership for each phantom unit. The following table presents the phantom unit activity under the LTIP for the year ended December 31, 2017:
The aggregate fair value of phantom units that vested during the year ended December 31, 2017 was $0.5 million. As of December 31, 2017, the unrecognized compensation cost related to unvested phantom units was $1.3 million. Such cost is expected to be recognized over a weighted-average period of 1.4 years. |
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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Partners' Capital and Partnership Distributions |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital and Partnership Distributions | PARTNERS’ CAPITAL AND PARTNERSHIP DISTRIBUTIONS The Partnership has general partner and common unit partnership interests. The general partner interest is a non-economic interest and is not entitled to any cash distributions. At December 31, 2017, the Partnership had a total of 113,882,045 common units issued and outstanding, of which 73,150,000 common units were owned by Diamondback, representing approximately 64% of the total Partnership units outstanding. The following table summarizes changes in the number of the Partnership’s common units:
The board of directors of the General Partner has adopted a policy for the Partnership to distribute all available cash generated on a quarterly basis, beginning with the quarter ending September 30, 2014. Cash distributions are made to the common unitholders of record on the applicable record date, generally within 60 days after the end of each quarter. Available cash for each quarter is determined by the board of directors of our general partner following the end of such quarter. Available cash for each quarter generally equals Adjusted EBITDA reduced for cash needed for debt service and other contractual obligations and fixed charges and reserves for future operating or capital needs that the board of directors of our general partner deems necessary or appropriate, if any. The following table presents cash distributions approved by the board of directors of the General Partner for the periods presented.
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- References No definition available.
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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Unit |
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Earnings Per Unit | EARNINGS PER UNIT The net income per common unit on the consolidated statements of operations is based on the net income (loss) of the Partnership for the years ended December 31, 2017, 2016 and 2015, since this is the amount of net income that is attributable to the Partnership’s common units. The Partnership’s net income (loss) is allocated wholly to the common units as the General Partner does not have an economic interest. Payments made to the Partnership’s unitholders are determined in relation to the cash distribution policy described in Note 8—Partners’ Capital and Partnership Distributions. Basic net income per common unit is calculated by dividing net income (loss) by the weighted-average number of common units outstanding during the period. Diluted net income per common unit gives effect, when applicable, to unvested common units granted under the LTIP.
For the years ended December 31, 2017, 2016 and 2015, there were 39,788 units, 1,567,155 units and 1,697,142 units, respectively, that were not included in the computation of diluted earnings per unit because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per unit in future periods. |
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- References No definition available.
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies |
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Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES The Partnership could be subject to various possible loss contingencies which arise primarily from interpretation of federal and state laws and regulations affecting the natural gas and crude oil industry. Such contingencies include differing interpretations as to the prices at which natural gas and crude oil sales may be made, the prices at which royalty owners may be paid for production from their leases, environmental issues and other matters. Management believes it has complied with the various laws and regulations, administrative rulings and interpretations. |
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events |
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Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS Cash Distribution On January 31, 2018, the board of directors of the General Partner approved a cash distribution for the fourth quarter of 2017 of $0.46 per common unit, payable on February 26, 2018, to unitholders of record at the close of business on February 19, 2018. Recent Acquisitions Since the end of the fourth quarter of 2017, the Partnership acquired from unrelated third party sellers additional mineral interests underlying 137,443 gross acres, 1,617 net acres and 900 net royalty acres in the Permian Basin and Eagle Ford Shale for an aggregate of approximately $149.4 million, subject to post-closing adjustments. As a result, as of February 2, 2018, the Partnership’s assets included mineral interests underlying 385,046 gross acres, 45,460 net acres and 10,470 net royalty acres primarily in the Permian Basin and Eagle Ford Shale. These acquisitions were primarily funded with cash on hand and borrowings under the Partnership’s revolving credit facility. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Information on Oil and Natural Gas Operations (Unaudited) |
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Extractive Industries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental information on oil and natural gas operations | SUPPLEMENTAL INFORMATION ON OIL AND NATURAL GAS OPERATIONS (Unaudited) The Partnership’s oil and natural gas reserves are attributable solely to properties within the United States. Capitalized oil and natural gas costs Aggregate capitalized costs related to oil and natural gas production activities with applicable accumulated depreciation, depletion and amortization are as follows:
Costs incurred in oil and natural gas activities Costs incurred in oil and natural gas property acquisition, exploration and development activities are as follows:
Results of Operations from Oil and Natural Gas Producing Activities The following schedule sets forth the revenues and expenses related to the production and sale of oil and natural gas. It does not include any interest costs or general and administrative costs and, therefore, is not necessarily indicative of the contribution to the net operating results of the Partnership’s oil, natural gas and natural gas liquids operations.
Oil and Natural Gas Reserves Proved oil and natural gas reserve estimates as of December 31, 2017, 2016 and 2015 were prepared by Ryder Scott Company, L.P., independent petroleum engineers. Proved reserves were estimated in accordance with guidelines established by the SEC, which require that reserve estimates be prepared under existing economic and operating conditions based upon the 12-month unweighted average of the first-day-of-the-month prices. There are numerous uncertainties inherent in estimating quantities of proved oil and natural gas reserves. Oil and natural gas reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that cannot be precisely measured and the accuracy of any reserve estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. Results of drilling, testing and production subsequent to the date of the estimate may justify revision of such estimate. Accordingly, reserve estimates are often different from the quantities of oil and natural gas that are ultimately recovered. The changes in estimated proved reserves are as follows:
Revisions represent changes in previous reserves estimates, either upward or downward, resulting from new information normally obtained from development drilling and production history or resulting from a change in economic factors, such as commodity prices, operating costs or development costs. During the year ended December 31, 2017, the Partnership’s extensions and discoveries of 11,524 MBoe resulted primarily from the drilling of 96 new wells and from 40 new proved undeveloped locations added. The Partnership’s negative revisions of previous estimated quantities of 3,921 MBoe were primarily due to changes in type curves. The purchase of reserves in place of 3,232 MBoe were due to multiple acquisitions primarily located in Pecos, Reeves and Loving counties. During the year ended December 31, 2016, the Partnership’s extensions and discoveries of 7,125 MBoe resulted primarily from the drilling of 33 new wells and from 32 new proved undeveloped locations added. The Partnership’s negative revisions of previous estimated quantities of 1,968 MBoe were primarily due to technical revisions with the remainder due to lower product pricing. The purchase of reserves in place of 1,575 MBoe were due to multiple acquisitions with the largest being located in Loving and Midland counties. During the year ended December 31, 2015, purchases of reserves were primarily from one acquisition in Howard County and several minor acquisitions in other areas consisting of 124 vertical wells and one horizontal well. Extensions are primarily the result of horizontal development of the Wolfcamp B and Lower Spraberry shales. The extensions were the result of one vertical well and 83 horizontal wells, of which 51 horizontal wells are in the proved undeveloped category. Diamondback is the operator of 57 of the 84 total wells. Revisions are primarily the result of downgrading nine horizontal wells and 48 vertical wells that were classified as PUDs into the probable category as a result of lower product prices and subsequent changes in drilling plans such that the wells are no longer expected to be drilled within five years of when they were originally booked. Standardized Measure of Discounted Future Net Cash Flows The standardized measure of discounted future net cash flows are based on the unweighted average, first-day-of-the-month price. The projections should not be viewed as realistic estimates of future cash flows, nor should the “standardized measure” be interpreted as representing current value to the Partnership. Material revisions to estimates of proved reserves may occur in the future; development and production of the reserves may not occur in the periods assumed; actual prices realized are expected to vary significantly from those used; and actual costs may vary. The following table sets forth the standardized measure of discounted future net cash flows attributable to the Partnership’s proved oil and natural gas reserves as of December 31, 2017, 2016 and 2015.
In the table below the average first-day-of–the-month price for oil, natural gas and natural gas liquids is presented, all utilized in the computation of future cash inflows.
Principal changes in the standardized measure of discounted future net cash flows attributable to the Partnership’s proved reserves are as follows:
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- References No definition available.
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- Definition The entire disclosure for oil and gas producing industries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data (Unaudited) |
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Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | QUARTERLY FINANCIAL DATA (Unaudited)
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- References No definition available.
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Policies) |
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Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates Certain amounts included in or affecting the Partnership’s financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership’s disclosure of contingent assets and liabilities at the date of the financial statements. The Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Partnership considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Partnership’s estimates. Any effects on the Partnership’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include, but are not limited to, estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, the recoverability of costs of unevaluated properties and unit–based compensation. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents represent unrestricted cash on hand and include all highly liquid investments purchased with a maturity of three months or less and money market funds. The Partnership maintains cash and cash equivalents in bank deposit accounts which, at times, may exceed the federally insured limits. |
Royalty Income Receivable | Royalty Income Receivable Royalty income receivable consist of receivables from oil and natural gas sales delivered to purchasers. Those purchasers remit payment for production to the operator of the properties and the operator, in turn, remits payment to us. Some of the Partnership’s oil and natural gas properties are contractually operated by Diamondback. Most payments are received within three months after the production date. Royalty income receivable are stated at amounts due from operators, net of an allowance for doubtful accounts when the Partnership believes collection is doubtful. Royalty income receivable outstanding longer than the contractual payment terms are considered past due. The Partnership determines any allowance by considering a number of factors, including the length of time royalty income receivable are past due, the Partnership’s previous loss history, the debtor’s current ability to pay its obligation to us, the condition of the general economy and the industry as a whole. The Partnership writes off specific royalty income receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for doubtful accounts. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Our financial instruments consist of cash and cash equivalents, receivables, payables and a credit agreement. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value because of the short-term nature of the instruments. |
Oil and Natural Gas Properties | Depletion of evaluated oil and natural gas properties is computed on the units of production method, whereby capitalized costs are amortized over total proved reserves. Under the full cost method of accounting, the Partnership is required to perform a ceiling test each quarter. The test determines a limit, or ceiling, on the book value of the proved oil and gas properties. Net capitalized costs are limited to the lower of unamortized cost net of deferred income taxes, or the cost center ceiling. The cost center ceiling is defined as the sum of (a) estimated future net revenues, discounted at 10% per annum, from proved reserves, based on the trailing 12-month unweighted average of the first-day-of-the-month price, adjusted for any contract provisions and excluding the estimated abandonment costs for properties with asset retirement obligations recorded on the balance sheet, (b) the cost of properties not being amortized, if any, and (c) the lower of cost or market value of unproved properties included in the cost being amortized. If the net book value exceeds the ceiling, an impairment or non-cash writedown is required. Costs associated with unevaluated properties are excluded from the full cost pool until the Partnership has made a determination as to the existence of proved reserves. The Partnership assesses all items classified as unevaluated property on an annual basis for possible impairment. The Partnership assesses properties on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of the following factors, among others: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; the assignment of proved reserves; and the economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to amortization. Oil and Natural Gas Properties The Partnership uses the full cost method of accounting for its oil and natural gas properties. Under this method, all acquisition, exploration and development costs, including certain internal costs, are capitalized and amortized on a composite unit of production method based on proved oil, natural gas liquids and natural gas reserves. Internal costs capitalized to the full cost pool represent management’s estimate of costs incurred directly related to exploration and development activities such as geological and other administrative costs associated with overseeing the exploration and development activities. All internal costs not directly associated with exploration and development activities were charged to expense as they were incurred. Sales of oil and natural gas properties, whether or not being amortized currently, are accounted for as adjustments of capitalized costs, with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil, natural gas liquids and natural gas. |
Debt Issuance Costs | The costs are associated with the Partnership’s credit agreement and are being amortized over the term of the credit agreement. |
Royalty Interest and Revenue Recognition | Royalty Interest and Revenue Recognition Royalty interest represents the right to receive revenues (oil and natural gas sales), less production and operating taxes and post-production costs. Revenue is recorded when title passes to the purchaser. Royalty interest has no rights or obligations to explore, develop or operate the property and does not incur any of the costs of exploration, development and operation of the property. |
Concentrations | Concentrations The Partnership is subject to risk resulting from the concentration of the Partnership’s royalty interest revenues in producing oil and natural gas properties and receivables with several significant purchasers. The Partnership does not require collateral and does not believe the loss of any single purchaser would materially impact the Partnership’s operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. |
Investments | Investments The Partnership has an equity interest in a limited partnership that is so minor that the Partnership has no influence over partnership operating and financial policies. This interest was acquired during the year ended December 31, 2014 and is accounted for under the cost method. Under the cost method, investments are carried at cost and are adjusted only for other than temporary declines in fair value, certain distributions and additional investments. |
Earnings Per Unit | Earnings Per Unit Earnings per unit applicable to limited partners is computed by dividing limited partners’ interest in net income by the weighted average number of outstanding common units. |
Unit-based Compensation | Unit–Based Compensation Unit–based compensation awards are measured at fair value on the date of grant and are expensed, net of estimated forfeitures, over the required service period. See Note 7—Unit–Based Compensation. |
Income Taxes | Income Taxes The Partnership is organized as a pass-through entity for income tax purposes. As a result, the Partnership’s partners are responsible for federal income taxes on their share of the Partnership’s taxable income. The Partnership is subject to the Texas margin tax. |
New Accounting Pronouncements | New Accounting Pronouncements Recently Issued Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers”. This update supersedes most of the existing revenue recognition requirements in GAAP and requires (i) an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services and (ii) requires expanded disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows from contracts with customers. The Partnership will adopt this Accounting Standards Update effective January 1, 2018 using the modified retrospective approach. The Partnership has reviewed various contracts that represent its material revenue streams and determined that there will be no impact to its financial position, results of operations or liquidity. Upon adoption of this Accounting Standards Update, the Partnership will not be required to record a cumulative effect adjustment due to the new Accounting Standards Update not having a quantitative impact compared to existing GAAP. Also, upon adoption of this Accounting Standards Update, the Partnership will not be required to alter its existing information technology and internal controls outside of ongoing contract review processes in order to identify impacts of future revenue contracts entered into by the Partnership. The Partnership does not anticipate the disclosure requirements under the Accounting Standards Update to have a material change on how it presents information regarding its revenue streams as compared to existing GAAP. In January 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-01, “Financial Instruments–Overall”. This update applies to any entity that holds financial assets or owes financial liabilities. This update requires equity investments (except for those accounted for under the equity method or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. The Partnership will adopt this standard effective January 1, 2018 by means of a cumulative-effect adjustment which will decrease Unitholders’ Equity and will bring the fair value of its investment to $15.2 million or $15.20 per unit for that investment. In November 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-18, “Statement of Cash Flows - Restricted Cash”. This update affects entities that have restricted cash or restricted cash equivalents. The Partnership will adopt this update retrospectively effective January 1, 2018. The adoption of this update will only effect the presentation on the Statement of Cash Flows. In January 2017, the Financial Accounting Standards Board issued Accounting Standards Update 2017-01, “Business Combinations - Clarifying the Definition of a Business”. This update apples to all entities that must determine whether they acquired or sold a business. This update provides a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. The Partnership will adopt this update prospectively effective January 1, 2018. The adoption of this update will not have an impact on its financial position, results of operations or liquidity. Accounting Pronouncements Not Yet Adopted In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-02, “Leases”. This update applies to any entity that enters into a lease, with some specified scope exemptions. Under this update, a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. While there were no major changes to the lessor accounting, changes were made to align key aspects with the revenue recognition guidance. This update will be effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. Entities will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. As of the filing date, the Partnership was not the lessor or lessee of any leases other than mineral leases which were excluded from the scope of this Accounting Standards Update. Therefore, the Partnership believes the adoption of this update will not have an impact on its financial position, results of operations or liquidity. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-13, “Financial Instruments - Credit Losses”. This update affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. This update will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Partnership does not believe the adoption of this standard will have an impact on its financial statements since it does not have a history of credit losses. |
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- References No definition available.
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- Definition Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for the cost method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. An entity also may describe how such investments are assessed for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for recognizing interest expense, including the method of amortizing debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for oil and gas property which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for revenue recognition for royalty fees, which is consideration or a share of the proceeds paid by another party to the owner of a right (that is, the entity) for its use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Oil and Natural Gas Interests (Tables) |
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Extractive Industries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate capitalized costs related to oil and natural gas production activities | Oil and natural gas interests include the following:
Aggregate capitalized costs related to oil and natural gas production activities with applicable accumulated depreciation, depletion and amortization are as follows:
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- Definition Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Debt (Tables) |
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Schedule of financial covenants |
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- Definition Schedule of Line of Credit Facilities, Covenant Terms [Table Text Block] No definition available.
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- References No definition available.
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Unit-Based Compensation (Tables) |
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of valuation assumptions |
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Schedule of unit option activity | The following table presents the unit option activity under the LTIP for the year ended December 31, 2017:
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Schedule of Nonvested Performance-based Units Activity | The following table presents the phantom unit activity under the LTIP for the year ended December 31, 2017:
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- References No definition available.
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Partners' Capital and Partnership Distributions (Tables) |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of changes in common units | The following table summarizes changes in the number of the Partnership’s common units:
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Distributions Made to Limited Partner, by Distribution | The following table presents cash distributions approved by the board of directors of the General Partner for the periods presented.
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- Definition Tabular disclosure of payment of cash or stock made to limited partner of limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Tabular disclosure of the varying rights, preferences and privileges of each class of limited partnership interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Unit (Tables) |
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Schedule of basic and diluted net income per common unit |
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Information on Oil and Natural Gas Operations (Unaudited) (Tables) |
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Extractive Industries [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate capitalized costs related to oil and natural gas production activities | Oil and natural gas interests include the following:
Aggregate capitalized costs related to oil and natural gas production activities with applicable accumulated depreciation, depletion and amortization are as follows:
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Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities | Costs incurred in oil and natural gas property acquisition, exploration and development activities are as follows:
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Results of Operations for Oil and Gas Producing Activities | The following schedule sets forth the revenues and expenses related to the production and sale of oil and natural gas. It does not include any interest costs or general and administrative costs and, therefore, is not necessarily indicative of the contribution to the net operating results of the Partnership’s oil, natural gas and natural gas liquids operations.
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Changes in Estimated Proved Reserves | The changes in estimated proved reserves are as follows:
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Standardized Measure of Discounted Future Net Cash Flows | The following table sets forth the standardized measure of discounted future net cash flows attributable to the Partnership’s proved oil and natural gas reserves as of December 31, 2017, 2016 and 2015.
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Average First-Day-of-the-Month Price for Oil, Natural Gas and Natural Gas Liquids | In the table below the average first-day-of–the-month price for oil, natural gas and natural gas liquids is presented, all utilized in the computation of future cash inflows.
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Principal Changes in Standardized Measure of Discounted Future Net Cash Flows | Principal changes in the standardized measure of discounted future net cash flows attributable to the Partnership’s proved reserves are as follows:
|
X | ||||||||||
- Definition Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of oil and gas production including quantitative production data, average price, and per unit cost data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the results of operations for oil and gas producing activities for the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data (Unaudited) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] |
|
X | ||||||||||
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Organization and Basis of Presentation (Details) |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
General Partner [Member] | |
Limited Partners' Capital Account [Line Items] | |
Percent of General Partner interest | 100.00% |
Diamondback Limited Partner [Member] | |
Limited Partners' Capital Account [Line Items] | |
Percent of limited partnership interest | 64.00% |
X | ||||||||||
- Definition Percentage investment held by the managing member or general partner of the limited liability company (LLC) or limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage investment held by members or limited partners of limited liability company (LLC) or limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Summary of Significant Accounting Policies - Oil and Natural Gas Properties, Capitalized Interest, and Debt Issuance Costs (Details) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
USD ($)
$ / Boe
|
Dec. 31, 2016
USD ($)
$ / Boe
|
Dec. 31, 2015
USD ($)
$ / Boe
|
|
Accounting Policies [Abstract] | |||
Average depletion rate per barrel equivalent unit of production | $ / Boe | 10.07 | 12.67 | 17.88 |
Depletion of oil and gas properties | $ 40,519 | $ 29,820 | $ 35,436 |
Impairment of oil and gas properties | 0 | 47,469 | 3,423 |
Debt issuance costs, net of accumulated amortizations | 4,419 | 2,159 | 1,717 |
Debit issuance costs, accumulated amortization | $ 1,415 | $ 826 | $ 425 |
X | ||||||||||
- Definition Average Depletion Rate Per Barrel of Oil Equivalents (BOE) No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of accumulated amortization of debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount, after accumulated amortization, of debt issuance costs classified as noncurrent. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies - Concentrations and Investments (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Jan. 31, 2018 |
Dec. 31, 2014 |
|
Concentration Risk [Line Items] | |||||
Impairment | $ 0 | $ 47,469 | $ 3,423 | ||
Restricted cash | $ 0 | $ 500 | $ 500 | ||
Shell Trading [Member] | Customer Concentration Risk [Member] | Royalty Interest Revenue [Member] | |||||
Concentration Risk [Line Items] | |||||
Percent of total royalty interest revenue | 47.00% | 57.00% | 68.00% | ||
RSP Permian LLC [Member] | Customer Concentration Risk [Member] | Royalty Interest Revenue [Member] | |||||
Concentration Risk [Line Items] | |||||
Percent of total royalty interest revenue | 23.00% | 32.00% | 25.00% | ||
Other assets [Member] | |||||
Concentration Risk [Line Items] | |||||
Value of cost method investment | $ 33,851 | ||||
Subsequent Event [Member] | |||||
Concentration Risk [Line Items] | |||||
Value of cost method investment | $ 15,200 | ||||
Cost Method Investment, Value per Unit | $ 15.20 |
X | ||||||||||
- Definition Per unit aount, after adjustment, of cost-method investment. Adjustments include, but are not limited to, dividends received in excess of earnings after date of investment that are considered a return of investment and other than temporary impairments. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after adjustment, of cost-method investment. Adjustments include, but are not limited to, dividends received in excess of earnings after date of investment that are considered a return of investment and other than temporary impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The current cash, cash equivalents and investments that are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. Includes current cash equivalents and investments that are similarly restricted as to withdrawal, usage or disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Acquisitions (Details) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
USD ($)
a
shares
|
Dec. 31, 2016
USD ($)
a
|
Dec. 31, 2015
USD ($)
|
|
Business Acquisition [Line Items] | |||
Payments to acquire mineral interests | $ 344,079 | $ 205,721 | $ 43,907 |
Series of Individually Immaterial Business Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Mineral Properties Acquired, Net Royalty Acres | a | 3,157 | 2,142 | |
Mineral Properties, Net Royalty Acres | a | 9,570 | ||
Payments to acquire mineral interests | $ 343,100 | $ 205,700 | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 174,513 | ||
Howard County, Texas [Member] | Diamondback E&P LLC [Member] | |||
Business Acquisition [Line Items] | |||
Payments to acquire mineral interests | $ 31,100 | ||
Oil and Gas Property, Percent of Royalty Interest | 1.50% |
X | ||||||||||
- Definition The amount of net royalty acres acquired. Net royalty acres are defined as gross acreage multiplied by the average royalty interest. No definition available.
|
X | ||||||||||
- Definition The amount of net royalty acres. Net royalty acres are defined as gross acreage multiplied by the average royalty interest. No definition available.
|
X | ||||||||||
- Definition Oil and Gas Property, Percent of Royalty Interest No definition available.
|
X | ||||||||||
- Definition Number of shares of equity interests issued or issuable to acquire entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The cash outflow from the acquisition of a mineral right which is the right to extract a mineral from the earth or to receive payment, in the form of royalty, for the extraction of minerals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Oil and Natural Gas Interests (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Property, Plant and Equipment [Line Items] | ||||
Subject to depletion | $ 589,173 | $ 508,586 | ||
Not subject to depletion | 514,724 | 252,232 | ||
Gross oil and natural gas interests | 1,103,897 | 760,818 | ||
Accumulated depletion and impairment | (189,466) | (148,948) | ||
Oil and natural gas interests, net | 914,431 | 611,870 | ||
Balance of costs not subject to depletion: | 284,471 | 158,156 | $ 30,896 | $ 41,201 |
Impairment | $ 0 | $ 47,469 | $ 3,423 | |
Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Anticipated number of years for inclusion of costs in amortization calculation | 3 | |||
Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Anticipated number of years for inclusion of costs in amortization calculation | 5 |
X | ||||||||||
- Definition The anticipated timing of the inclusion of the costs in the amortization computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The sum of the capitalized costs incurred during the period of unproved properties excluded from amortization including acquisition costs, exploration costs, development costs, and production costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The sum of the capitalized costs incurred, as of the balance sheet date, of unproved properties excluded from amortization including acquisition costs, exploration costs, development costs, and production costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Capitalized costs of proved properties incurred for any combination mineral interests acquisitions; wells and related equipment; support equipment and facilities; and uncompleted wells and equipment and other costs not previously disclosed within this table. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Depletion of oil and gas property carried under the full cost method. No definition available.
|
X | ||||||||||
- Definition Oil and gas properties, gross, carried under the full cost method. No definition available.
|
X | ||||||||||
- Definition Oil and gas properties, net of depletion, carried under the full cost method. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition Line of Credit Facility, Borrowing Base, Number of Redeterminations No definition available.
|
X | ||||||||||
- Definition Line of Credit Facility, Borrowing Base, Period of Redetermination No definition available.
|
X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Debt - Financial Covenants (Details) $ in Millions |
Dec. 31, 2017
USD ($)
|
---|---|
Line of Credit Facility [Line Items] | |
Maximum issuance of unsecured debt | $ 400.0 |
Reduction of borrowing base | 25.00% |
Maximum [Member] | |
Line of Credit Facility [Line Items] | |
Ratio of total debt to EBITDAX, not greater than 4.0 | 4.0 |
Minimum [Member] | |
Line of Credit Facility [Line Items] | |
Ratio of current assets to liabilities, not less than 1.0 | 1.0 |
X | ||||||||||
- Definition Line of Credit Facility, Decrease of Borrowing Base, Percentage No definition available.
|
X | ||||||||||
- Definition Line of Credit Facility, Covenant Terms, Maximum Issuance of Additional Indebtedness No definition available.
|
X | ||||||||||
- Definition Line of Credit Facility, Covenant Terms, Ratio of Current Assets to Liabilities No definition available.
|
X | ||||||||||
- Definition Line of Credit Facility, Covenant Terms, Ratio of Total Debt to Earnings Before Interest, Taxes, Depreciation, Depletion, Amortization and Exploration Expense No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition Average price per acre No definition available.
|
X | ||||||||||
- Definition Number of leases extended No definition available.
|
X | ||||||||||
- Definition Oil and Gas Property, Percent of Royalty Interest No definition available.
|
X | ||||||||||
- Definition Related Party Transaction, Annual Fee for Advisory Services with Related Party No definition available.
|
X | ||||||||||
- Definition Related Party Transaction, Cancellation Notice of Agreement No definition available.
|
X | ||||||||||
- Definition Related Party Transaction, Minimum Period for Cancellation of Renewal Term No definition available.
|
X | ||||||||||
- Definition Related Party Transaction, Original Term for Advisory Services with Related Party No definition available.
|
X | ||||||||||
- Definition Related Party Transaction, Renewal Term for Advisory Services with Related Party No definition available.
|
X | ||||||||||
- Definition Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow from the acquisition of a mineral right which is the right to extract a mineral from the earth or to receive payment, in the form of royalty, for the extraction of minerals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Unit-Based Compensation Additional Disclosures (Details) - USD ($) $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Jun. 17, 2014 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common units reserved for issuance | 9,070,356 | |||
Equity-based compensation | $ 2.4 | $ 3.8 | $ 3.9 | |
Unit Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unit options granted | 2,500,000 | |||
Vesting percentage for next three anniversaries | 33.00% |
X | ||||||||||
- Definition Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition Percentage of vesting of share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Unit-Based Compensation Valuation Assumptions (Details) - Unit Options [Member] |
12 Months Ended |
---|---|
Dec. 31, 2014
$ / shares
| |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grant-date fair value | $ 4.24 |
Expected volatility | 36.00% |
Expected dividend yield | 5.90% |
Expected term (in years) | 3 years |
Risk-free rate | 0.99% |
X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Unit-Based Compensation Unit Option Activity (Details) - Unit Options [Member] $ / shares in Units, $ in Thousands |
12 Months Ended |
---|---|
Dec. 31, 2017
USD ($)
$ / shares
shares
| |
Number of Options | |
Outstanding at December 31, 2016 | shares | 2,424,266 |
Expired/Forfeited | shares | (2,416,666) |
Outstanding at December 31, 2017 | shares | 7,600 |
Vested and Expected to Vest at December 31, 2017 | shares | 7,600 |
Weighted Average Exercise Price | |
Outstanding at December 31, 2016 | $ / shares | $ 26.00 |
Expired/Forfeited | $ / shares | 26.00 |
Outstanding at December 31, 2017 | $ / shares | 18.49 |
Vested and Expected to Vest at December 31, 2017 | $ / shares | $ 18.49 |
Outstanding at end of period, remaining term | 0 years |
Vested and expected to vest at end of period, remaining term | 0 years |
Outstanding at end of period, intrinsic value | $ | $ 0 |
Vested and expected to vest at end of period, intrinsic value | $ | $ 0 |
X | ||||||||||
- Definition For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Weighted average price of options that were either forfeited or expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount by which current fair value of underlying stock exceeds exercise price of fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of fully vested and expected to vest options outstanding that can be converted into shares under option plan. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted-average exercise price, at which grantee can acquire shares reserved for issuance, for fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
Unit-Based Compensation Phantom Units (Details) - Phantom Share Units (PSUs) [Member] $ / shares in Units, $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2017
USD ($)
$ / shares
shares
| |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward] | |
Unvested at December 31, 2016 | shares | 21,048 |
Granted | shares | 116,567 |
Vested | shares | (32,176) |
Unvested at December 31, 2017 | shares | 105,439 |
Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Unvested at December 31, 2016 | $ / shares | $ 16.23 |
Granted | $ / shares | 17.09 |
Vested | $ / shares | 16.49 |
Unvested at December 31, 2017 | $ / shares | $ 17.10 |
Equity Instruments Other than Options, Vested in Period, Fair Value | $ | $ 0.5 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 1.3 |
Unrecognized compensation cost related to unvested unit options, period of recognition | 1 year 4 months 17 days |
X | ||||||||||
- Definition Unrecognized cost of unvested share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
Partners' Capital and Partnership Distributions (Details) - shares |
12 Months Ended | |
---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Limited Partners' Capital Account [Line Items] | ||
Common units issued | 113,882,045 | 87,800,356 |
Common units outstanding | 113,882,045 | 87,800,356 |
Partners' Capital Account, Units, Unit-based Compensation | 32,176 | |
Diamondback Limited Partner [Member] | ||
Limited Partners' Capital Account [Line Items] | ||
Units of partnership interest | 73,150,000 | |
Percent of limited partnership interest | 64.00% | |
Follow-on Public Offering [Member] | ||
Limited Partners' Capital Account [Line Items] | ||
Units issued in public offering | 25,875,000 | |
Private Placement [Member] | ||
Limited Partners' Capital Account [Line Items] | ||
Partners' Capital Account, Units, Acquisitions | 174,513 |
X | ||||||||||
- Definition Percentage investment held by members or limited partners of limited liability company (LLC) or limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Change in the number of units for each class of partners' capital accounts during the year due to acquisitions. Partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of units sold in a public offering of each class of partners' capital account. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of units issued due to unit-based compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of units or equivalent units outstanding for all classes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Partnership Distributions (Details) - Cash Distribution [Member] - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2017 |
|
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Made to Limited Partner, Declaration Date | Oct. 16, 2017 | Jul. 28, 2017 | Apr. 28, 2017 | Feb. 03, 2017 | Oct. 25, 2016 | Jul. 21, 2016 | May 02, 2016 | Feb. 12, 2016 | Oct. 30, 2015 | Jul. 31, 2015 | May 01, 2015 | Feb. 05, 2015 | |
Cash distributions, distribution period after quarter end | 60 days | ||||||||||||
Distribution Made to Limited Partner, Distribution Date | Nov. 14, 2017 | Aug. 24, 2017 | May 25, 2017 | Feb. 24, 2017 | Nov. 18, 2016 | Aug. 22, 2016 | May 23, 2016 | Feb. 26, 2016 | Nov. 20, 2015 | Aug. 21, 2015 | May 22, 2015 | Feb. 27, 2015 | |
Diamondback Limited Partner [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.337 | $ 0.332 | $ 0.302 | $ 0.258 | $ 0.207 | $ 0.189 | $ 0.149 | $ 0.228 | $ 0.200 | $ 0.220 | $ 0.189 | $ 0.250 | |
Limited Partners' Capital Account, Distribution Amount | $ 24,652 | $ 24,286 | $ 21,880 | $ 18,692 | $ 14,997 | $ 13,693 | $ 10,497 | $ 16,063 | $ 14,091 | $ 15,499 | $ 13,385 | $ 17,612 |
X | ||||||||||
- Definition Distribution Made to Limited Partner, Distribution Date, Period after Quarter End No definition available.
|
X | ||||||||||
- Definition Date of declaration for distribution of cash or unit to limited partner of limited partnership (LP), in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Date of distribution for distribution of cash or unit to limited partner of limited partnership (LP), in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Per unit of ownership amount of cash distributions declared to unit-holder of a limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The total amount of distributions to limited partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Earnings Per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Net income (loss) attributable to the period | $ 42,070 | $ 26,607 | $ 22,149 | $ 20,652 | $ 16,254 | $ 10,202 | $ (14,020) | $ (23,335) | $ 111,478 | $ (10,899) | $ 24,419 |
Weighted-average common units outstanding, basic | 104,318,000 | 83,081,000 | 79,717,000 | ||||||||
Weighted Average Number Diluted Limited Partnership Units Outstanding Adjustment | 65,000 | 0 | 10,000 | ||||||||
Weighted-average common units outstanding, diluted | 104,383,000 | 83,081,000 | 79,727,000 | ||||||||
Net income per common unit, basic | $ 0.37 | $ 0.24 | $ 0.23 | $ 0.22 | $ 0.20 | $ 0.12 | $ (0.18) | $ (0.29) | $ 1.07 | $ (0.13) | $ 0.31 |
Net income per common unit, diluted | $ 0.37 | $ 0.24 | $ 0.23 | $ 0.22 | $ 0.20 | $ 0.12 | $ (0.18) | $ (0.29) | $ 1.07 | $ (0.13) | $ 0.31 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 39,788 | 1,567,155 | 1,697,142 |
X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Aggregate amount of net income allocated to limited partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Per unit of ownership amount after tax of income (loss) available to limited partnership (LP) unit-holder and units that would have been outstanding assuming the issuance of limited partner units for dilutive potential units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Per unit of ownership amount after tax of income (loss) available to outstanding limited partnership (LP) unit-holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average number of limited partnership units outstanding determined by relating the portion of time within a reporting period that limited partnership units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average number of limited partnership units outstanding determined by relating the portion of time within a reporting period that limited partnership units have been outstanding to the total time in that period. Used in the calculation of diluted net income or loss per limited partnership unit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The sum of dilutive potential limited partnership units used in the calculation of the diluted per-unit computation. No definition available.
|
X | ||||||||||
- Definition Mineral Properties Acquired, Gross Acres No definition available.
|
X | ||||||||||
- Definition Mineral Properties Acquired, Net Acres No definition available.
|
X | ||||||||||
- Definition The amount of net royalty acres acquired. Net royalty acres are defined as gross acreage multiplied by the average royalty interest. No definition available.
|
X | ||||||||||
- Definition Mineral Properties, Gross Acres No definition available.
|
X | ||||||||||
- Definition Mineral Properties, Net Acres No definition available.
|
X | ||||||||||
- Definition The amount of net royalty acres. Net royalty acres are defined as gross acreage multiplied by the average royalty interest. No definition available.
|
X | ||||||||||
- Definition Date of record for distribution of cash or unit to limited partner of limited partnership (LP), in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Date of distribution for distribution of cash or unit to limited partner of limited partnership (LP), in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Per unit of ownership amount of cash distributions declared to unit-holder of a limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow from the acquisition of a mineral right which is the right to extract a mineral from the earth or to receive payment, in the form of royalty, for the extraction of minerals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Supplemental Information on Oil and Natural Gas Operations (Unaudited) Aggregate Capitalized Costs Related to Oil and Natural Gas Production Activities (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Oil and natural gas interests: | ||
Proved properties | $ 589,173 | $ 508,586 |
Unproved properties | 514,724 | 252,232 |
Total oil and natural gas interests | 1,103,897 | 760,818 |
Accumulated depletion and impairment | (189,466) | (148,948) |
Net oil and natural gas interests capitalized | $ 914,431 | $ 611,870 |
X | ||||||||||
- Definition Amount of accumulated depreciation, depletion, amortization and valuation allowance relating to oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The sum of capitalized costs relating to oil and gas producing activities before accounting for accumulated depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Net amount of capitalized costs relating to oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Capitalized costs of proved properties incurred for any combination mineral interests acquisitions; wells and related equipment; support equipment and facilities; and uncompleted wells and equipment and other costs not previously disclosed within this table. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Capitalized costs of unproved properties incurred for any combination mineral interests acquisitions and other costs not previously disclosed within this table. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Information on Oil and Natural Gas Operations (Unaudited) Costs Incurred in Crude Oil and Natural Gas Activities (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Costs Incurred, Acquisition of Oil and Gas Properties [Abstract] | |||
Proved properties | $ 55,948 | $ 31,441 | $ 4,121 |
Unproved properties | 287,131 | 174,385 | 39,786 |
Total | $ 343,079 | $ 205,826 | $ 43,907 |
X | ||||||||||
- Definition Cost incurred, including capitalized costs and costs charged to expense, in acquisition of oil and gas properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have unproved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Information on Oil and Natural Gas Operations (Unaudited) Results of Operation from Oil and Natural Gas Producing Activities (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Extractive Industries [Abstract] | |||||||||||
Royalty income | $ 49,969 | $ 42,211 | $ 35,933 | $ 32,050 | $ 27,923 | $ 19,992 | $ 16,836 | $ 14,086 | $ 160,163 | $ 78,837 | $ 74,859 |
Production and ad valorem taxes | (10,608) | (5,544) | (5,531) | ||||||||
Gathering and transportation | (789) | (415) | (259) | ||||||||
Depletion | (40,519) | (29,820) | (35,436) | ||||||||
Impairment | 0 | (47,469) | (3,423) | ||||||||
Results of operations from oil, natural gas and natural gas liquids | $ 108,247 | $ (4,411) | $ 30,210 |
X | ||||||||||
- Definition The noncash expense charged against earnings to recognize the consumption of oil and gas reserves that are part of an entities' assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A tax assessed on oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The results of operations for oil and gas producing activities, excluding corporate overhead and interest costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of Developed Wells, Working Interest No definition available.
|
X | ||||||||||
- Definition Number of Horizontal Wells Developed, Working Interest No definition available.
|
X | ||||||||||
- Definition Number of Oil and Gas Acquisitions No definition available.
|
X | ||||||||||
- Definition Number of Vertical Wells Developed, Working Interest No definition available.
|
X | ||||||||||
- Definition Number of Wells Operated by Others No definition available.
|
X | ||||||||||
- Definition Oil and Gas Acquisition, Number of Existing Horizontal Wells No definition available.
|
X | ||||||||||
- Definition Oil and Gas Acquisition, Number of Existing Vertical Wells No definition available.
|
X | ||||||||||
- Definition Proved Undeveloped Reserves, Horizontal Wells Downgraded, Working Interest No definition available.
|
X | ||||||||||
- Definition Proved Undeveloped Reserves Number of Wells Added No definition available.
|
X | ||||||||||
- Definition Proved Undeveloped Reserves, Number of Wells Downgraded No definition available.
|
X | ||||||||||
- Definition Proved Undeveloped Reserves, Planned Development Period No definition available.
|
X | ||||||||||
- Definition Proved undeveloped reserves, vertical wells downgraded, working interest No definition available.
|
X | ||||||||||
- Definition The number of productive developmental wells drilled in the geographic area. A productive well is a well that is not a dry well. The number of wells drilled refers to the number of wells (holes) completed at any time during the fiscal years, regardless when drilling was initiated. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Additions to proved reserves that result from (1) extension of the proved acreage of previously discovered (old) reservoirs through additional drilling in periods after discovery and (2) discovery of new fields with proved reserves or of new reservoirs of proved reserves in old fields. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net quantity of proved reserves as of the balance sheet date. Proved oil reserves are the estimated quantities of crude oil and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Production of proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Purchase of minerals in place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revisions represent changes in previous estimates of proved reserves, either upward or downward, resulting from new information (except for an increase in proved acreage) normally obtained from development drilling and production history or resulting from change in economic factors. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net quantities of an enterprise's interests in proved developed reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other nonrenewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities does not include reserves relating to interests of others in properties owned by the enterprise. The unit of measure for reserve quantities is defined as "barrels" for oil and synthetic oil reserves or "cubic feet" or "cubic meters" for natural gas and synthetic gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net quantities of an enterprise's interests in proved undeveloped reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other renewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities does not include reserves relating to interests of others in properties owned by the enterprise. The unit of measure for reserve quantities is defined as "barrels" for oil and synthetic oil reserves or "cubic feet" or "cubic meters" for natural gas and synthetic gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Supplemental Information on Oil and Natural Gas Operations (Unaudited) Standardized Measure of Discounted Future Net Cash Flows (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
---|---|---|---|---|
Extractive Industries [Abstract] | ||||
Future cash inflows | $ 1,445,883 | $ 948,090 | $ 912,276 | |
Future production taxes | (125,564) | (69,109) | (61,777) | |
Future state margin tax expense | (6,932) | (4,615) | (4,789) | |
Future net cash flows | 1,313,387 | 874,366 | 845,710 | |
10% discount to reflect timing of cash flows | (688,039) | (461,785) | (449,947) | |
Standardized measure of discounted future net cash flows | $ 625,348 | $ 412,581 | $ 395,763 | $ 553,236 |
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- References No definition available.
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- Definition Amount of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of estimated future accumulated cash outflow for income tax, based on the future income less future expense derived from production and sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after future accumulated cash outflow for development and production costs and future income tax, of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of estimated future accumulated cash outflow for costs to be incurred in producing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of discount on future accumulated cash inflow, after deducting future accumulated cash outflow for development and production costs and future income tax, from sale of proved oil and gas reserves, using a discount rate of ten percent a year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Information on Oil and Natural Gas Operations (Unaudited) Average First-Day-of-the-Month Price for Oil, Natural Gas and Natural Gas Liquids (Details) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
$ / Mcf
$ / bbl
|
Dec. 31, 2016
$ / Mcf
$ / bbl
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Dec. 31, 2015
$ / Mcf
$ / bbl
|
|
Oil [Member] | |||
Average Sales Price and Production Costs Per Unit of Production [Line Items] | |||
Unweighted Arithmetic Average First-Day-of-the-Month Prices | 48.21 | 39.64 | 45.03 |
Natural Gas [Member] | |||
Average Sales Price and Production Costs Per Unit of Production [Line Items] | |||
Unweighted Arithmetic Average First-Day-of-the-Month Prices | $ / Mcf | 2.13 | 1.36 | 1.64 |
Natural Gas Liquids [Member] | |||
Average Sales Price and Production Costs Per Unit of Production [Line Items] | |||
Unweighted Arithmetic Average First-Day-of-the-Month Prices | 19.15 | 11.69 | 11.41 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition The revenues derived from sales of oil or gas in each geographic area during the reporting period divided by the number of barrels of oil produced or thousands of cubic feet of gas produced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of extensions, discoveries and improved recovery of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in the estimated future income tax on future pretax net cash flows related to the entity's proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Amount of increase in standardized measure of discounted future net cash flow as a result of purchases of minerals in place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in sales and transfer prices and in production (lifting) costs related to future production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of revisions of estimated quantity of oil and gas in proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of (increase) decrease in standardized measure of discounted future net cash flow as a result of sales and transfers of oil and gas produced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of changes from other sources. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of accretion of discount for the standardized measure of discounted future net cash flow related to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Royalty income | $ 49,969 | $ 42,211 | $ 35,933 | $ 32,050 | $ 27,923 | $ 19,992 | $ 16,836 | $ 14,086 | $ 160,163 | $ 78,837 | $ 74,859 |
Income from operations | 42,825 | 27,067 | 22,479 | 21,450 | 16,910 | 10,594 | (13,711) | (23,104) | 113,821 | (9,311) | 24,375 |
Net income (loss) | $ 42,070 | $ 26,607 | $ 22,149 | $ 20,652 | $ 16,254 | $ 10,202 | $ (14,020) | $ (23,335) | $ 111,478 | $ (10,899) | $ 24,419 |
Net income per common unit, basic | $ 0.37 | $ 0.24 | $ 0.23 | $ 0.22 | $ 0.20 | $ 0.12 | $ (0.18) | $ (0.29) | $ 1.07 | $ (0.13) | $ 0.31 |
Net income per common unit, diluted | $ 0.37 | $ 0.24 | $ 0.23 | $ 0.22 | $ 0.20 | $ 0.12 | $ (0.18) | $ (0.29) | $ 1.07 | $ (0.13) | $ 0.31 |
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- Definition Aggregate amount of net income allocated to limited partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per unit of ownership amount after tax of income (loss) available to limited partnership (LP) unit-holder and units that would have been outstanding assuming the issuance of limited partner units for dilutive potential units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per unit of ownership amount after tax of income (loss) available to outstanding limited partnership (LP) unit-holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- References No definition available.
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- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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