Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 26, 2019	Dec. 31, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	Viper Energy Partners LP
Entity Central Index Key	0001602065
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Units, Units Outstanding		62,628,357
Class B Units Outstanding	72,418,500	72,418,500	72,418,500

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 10,133	$ 22,676
Royalty income receivable	38,083	38,823
Royalty income receivable—related party	7,376	3,489
Other current assets	258	257
Total current assets	55,850	65,245
Property:
Oil and natural gas interests, full cost method of accounting ($916,437 and $871,485 excluded from depletion at March 31, 2019 and December 31, 2018, respectively)	1,798,679	1,716,713
Land	5,688	5,688
Accumulated depletion and impairment	(264,495)	(248,296)
Property, net	1,539,872	1,474,105
Other assets	21,257	17,831
Deferred tax asset	150,463	96,883
Total assets	1,767,442	1,654,064
Current liabilities:
Accounts payable	8	0
Other accrued liabilities	2,772	6,022
Total current liabilities	2,780	6,022
Long-term debt	157,000	411,000
Total liabilities	159,780	417,022
Commitments and contingencies
Unitholders’ equity:
General partner	1,000	1,000
Common units (62,628,357 units issued and outstanding as of March 31, 2019 and 51,653,956 units issued and outstanding as of December 31, 2018)	817,014	540,112
Class B units (72,418,500 units issued and outstanding as of March 31, 2019 and as of December 31, 2018)	990	990
Total Viper Energy Partners LP unitholders’ equity	819,004	542,102
Non-controlling interest	788,658	694,940
Total equity	1,607,662	1,237,042
Total liabilities and unitholders’ equity	$ 1,767,442	$ 1,654,064

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 26, 2019	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Oil and natural gas interests, based on the full cost method of accounting, amount excluded from depletion		$ 916,437	$ 871,485
Common units issued		62,628,357	51,653,956
Common units outstanding		62,628,357	51,653,956
Class B Units Issued		72,418,500	72,418,500
Class B Units Outstanding	72,418,500	72,418,500	72,418,500

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating income:
Lease bonus income	$ 1,160	$ 0
Other operating income	2	50
Revenue	61,590	62,178
Costs and expenses:
Production and ad valorem taxes	3,692	4,239
Depletion	16,199	11,525
General and administrative expenses	1,695	2,711
Total costs and expenses	21,586	18,475
Income from operations	40,004	43,703
Other income (expense):
Interest expense, net	(4,549)	(2,098)
Gain on revaluation of investment	3,592	899
Other income, net	656	392
Total other income (expense), net	(301)	(807)
Income before income taxes	39,703	42,896
Benefit from income taxes	(34,608)	0
Net income	74,311	42,896
Net income attributable to non-controlling interest	40,532	0
Net income attributable to Viper Energy Partners LP	$ 33,779	$ 42,896
Net income attributable to common limited partners per unit:
Basic (dollars per unit)	$ 0.61	$ 0.38
Diluted (dollars per unit)	$ 0.61	$ 0.38
Weighted average number of common limited partner units outstanding:
Basic (in units)	55,448	113,901
Diluted (in units)	55,475	113,991
Royalty income
Operating income:
Revenue	$ 60,428	$ 62,128

Statement of Consolidated Unitholders' Equity - USD ($) $ in Thousands	Total	General Partner [Member]	Non-Controlling Interest [Member]	Common Units [Member] Limited Partner [Member]	Class B Units [Member] Limited Partner [Member]
Partners' Capital including noncontrolling interest at Dec. 31, 2017	$ 913,908	$ 0	$ 0	$ 913,908	$ 0
Common Stock, Shares, Outstanding at Dec. 31, 2017				113,882,000
Class B Units Outstanding at Dec. 31, 2017					0
Increase (Decrease) in Partners' Capital [Roll Forward]
Unit-based compensation	1,288	0	0	$ 1,288	$ 0
Distributions to public	(18,737)	0	0	(18,737)	0
Distributions to Diamondback	(33,649)	0	0	(33,649)	0
Net income	42,896	0	0	$ 42,896	$ 0
Common Stock, Shares, Outstanding at Mar. 31, 2018				113,882,000
Class B Units Outstanding at Mar. 31, 2018					0
Partners' Capital including noncontrolling interest at Mar. 31, 2018	887,055	0	0	$ 887,055	$ 0
Increase (Decrease) in Partners' Capital [Roll Forward]
Impact of adoption of ASU 2016-01	(18,651)	0	0	(18,651)	0
Partners' Capital including noncontrolling interest at Dec. 31, 2018	$ 1,237,042	1,000	694,940	$ 540,112	$ 990
Common Stock, Shares, Outstanding at Dec. 31, 2018				51,654,000
Class B Units Outstanding at Dec. 31, 2018	72,418,500				72,419,000
Increase (Decrease) in Partners' Capital [Roll Forward]
Issuance of common units				10,925,000
Net proceeds from the issuance of common units	$ 340,648	0	0	$ 340,648	$ 0
Unit-based compensation, units	60,133			60,000
Unit-based compensation	$ 405	0	0	$ 405	0
Distributions to public	(25,970)	0	0	(25,970)	0
Distributions to Diamondback	(37,326)	0	(36,934)	(392)	0
Distribution to General Partner	(20)	0	0	(20)	0
Change in ownership of consolidated subsidiaries, net	$ 18,925	0	90,120	$ (71,195)	0
Units repurchased for tax withholding, units	(10,732)			(11,000)
Units repurchased for tax withholding, dollars	$ (353)	0	0	$ (353)	0
Net income	$ 74,311	0	40,532	$ 33,779	$ 0
Common Stock, Shares, Outstanding at Mar. 31, 2019				62,628,000
Class B Units Outstanding at Mar. 31, 2019	72,418,500				72,419,000
Partners' Capital including noncontrolling interest at Mar. 31, 2019	$ 1,607,662	$ 1,000	$ 788,658	$ 817,014	$ 990

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 74,311	$ 42,896
Adjustments to reconcile net income to net cash provided by operating activities:
Benefit from deferred income taxes	(34,655)	0
Depletion	16,199	11,525
Gain on revaluation of investment	(3,592)	(899)
Amortization of debt issuance costs	216	155
Non-cash unit-based compensation	405	1,288
Changes in operating assets and liabilities:
Royalty income receivable	740	(3,119)
Royalty income receivable—related party	(3,887)	(1,363)
Accounts payable and other accrued liabilities	(3,289)	(1,265)
Income tax payable	47	0
Other current assets	(44)	(6)
Net cash provided by operating activities	46,451	49,212
Cash flows from investing activities:
Acquisition of oil and natural gas interests	(81,923)	(149,994)
Proceeds from the sale of investments	0	125
Net cash used in investing activities	(81,923)	(149,869)
Cash flows from financing activities:
Proceeds from borrowings under credit facility	59,500	147,000
Repayment on credit facility	(313,500)	0
Debt issuance costs	(50)	(3)
Proceeds from public offerings	340,860	0
Public offering costs	(212)	0
Units purchased for tax withholding	(353)	0
Distributions to partners	(63,316)	(52,386)
Net cash provided by financing activities	22,929	94,611
Net decrease in cash	(12,543)	(6,046)
Cash and cash equivalents at beginning of period	22,676	24,197
Cash and cash equivalents at end of period	10,133	18,151
Supplemental disclosure of cash flow information:
Interest paid	$ 4,908	$ 2,072

Organization and Basis of Presentation	3 Months Ended
Organization and Basis of Presentation	Mar. 31, 2019
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 and Eagle Ford Shale. Unless the context requires otherwise, references to “we,” “us,” “our” or “the Partnership” are intended to mean the business and operations of the Partnership and its consolidated subsidiary, Viper Energy Partners LLC (the “Operating Company”). As of March 31, 2019, Viper Energy Partners GP LLC (the “General Partner”), held a 100% general partner interest in the Partnership and Diamondback had an approximate 54% limited partner interest in the Partnership. Diamondback owns and controls the General Partner. Recapitalization, Tax Status Election and Related Transactions In March 2018, the Board of Directors of the General Partner unanimously approved a change of the Partnership’s federal income tax status from that of a pass-through partnership to that of a taxable entity via a “check the box” election. In connection with making this election, on May 9, 2018 the Partnership (i) amended and restated its First Amended and Restated Partnership Agreement, (ii) amended and restated the First Amended and Restated Limited Liability Company Agreement of the Operating Company, (iii) amended and restated its existing registration rights agreement with Diamondback and (iv) entered into an exchange agreement with Diamondback, the General Partner and the Operating Company. Simultaneously with the effectiveness of these agreements, Diamondback delivered and assigned to the Partnership the 73,150,000 common units Diamondback owned in exchange for (i) 73,150,000 of the Partnership’s newly-issued Class B units and (ii) 73,150,000 newly-issued units of the Operating Company pursuant to the terms of a Recapitalization Agreement dated March 28, 2018, as amended as of May 9, 2018 (the “Recapitalization Agreement”). Immediately following that exchange, the Partnership continued to be the managing member of the Operating Company, with sole control of its operations, and owned approximately 36% of the outstanding units issued by the Operating Company, and Diamondback owned the remaining approximately 64% of the outstanding units issued by the Operating Company. Upon completion of the Partnership’s July 2018 offering of units, it owned approximately 41% of the outstanding units issued by the Operating Company and Diamondback owned the remaining approximately 59%. The Operating Company units and the Partnership’s Class B units owned by Diamondback are exchangeable from time to time for the Partnership’s common units (that is, one Operating Company unit and one Partnership Class B unit, together, will be exchangeable for one Partnership common unit). On May 10, 2018, the change in the Partnership’s income tax status became effective. On that date, pursuant to the terms of the Recapitalization Agreement, (i) the General Partner made a cash capital contribution of $1.0 million to the Partnership in respect of its general partner interest and (ii) Diamondback made a cash capital contribution of $1.0 million to the Partnership in respect of the Class B units. Diamondback, as the holder of the Class B units, and the General Partner, as the holder of the general partner interest, are entitled to receive an 8% annual distribution on the outstanding amount of these capital contributions, payable quarterly, as a return on this invested capital. On May 10, 2018, Diamondback also exchanged 731,500 Class B units and 731,500 units in the Operating Company for 731,500 common units of the Partnership and a cash amount of $10,000 representing a proportionate return of the $1.0 million invested capital in respect of the Class B units. The General Partner continues to serve as the Partnership’s general partner and Diamondback continues to control the Partnership. After the effectiveness of the tax status election and the completion of related transactions, the Partnership’s minerals business continues to be conducted through the Operating Company, which continues to be taxed as a partnership for federal and state income tax purposes. This structure is anticipated to provide significant benefits to the Partnership’s business, including operational effectiveness, acquisition and disposition transactional planning flexibility and income tax efficiency. For additional information regarding the tax status election and related transactions, please refer to the Partnership’s Definitive Information Statement on Schedule 14C filed with the SEC on April 17, 2018 and the Partnership’s Current Report on Form 8-K filed with the SEC on May 15, 2018. Basis of Presentation The accompanying consolidated financial statements and related notes thereto were prepared in conformity with GAAP. All material intercompany balances and transactions are eliminated in consolidation. These financial statements have been prepared by the Partnership without audit, pursuant to the rules and regulations of the SEC. They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations, although the Partnership believes the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10–Q should be read in conjunction with the Partnership’s most recent Annual Report on Form 10–K for the fiscal year ended December 31, 2018, which contains a summary of the Partnership’s significant accounting policies and other disclosures.

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2019
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 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 interests and unit–based compensation. Investments The Partnership has an equity interest in a limited partnership that is so minor that the Partnership has no influence over the limited partnership’s operating and financial policies. This interest was acquired during the year ended December 31, 2014 and is accounted for under the cost method. Effective January 1, 2018, the Partnership adopted Accounting Standards Update 2016-01 which requires the Partnership to measure this investment at fair value which resulted in a downward adjustment of $18.7 million to record the impact of this adoption. See Note 12—Fair Value Measurements. Income Taxes The Partnership uses the asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities and (ii) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future period when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period the rate change is enacted. A valuation allowance is provided for deferred tax assets when it is more likely than not the deferred tax assets will not be realized. The Partnership is subject to margin tax in the state of Texas pursuant to a tax sharing agreement with Diamondback, as discussed further in Note 7. In addition to the 2018 tax year, the Partnership’s 2015 through 2017 tax years, periods during which the Partnership was organized as a pass-through entity for income tax purposes, remain open to examination by tax authorities. As of March 31, 2019, the Partnership had no unrecognized tax benefits that would have a material impact on the effective tax rate. The Partnership is continuing its practice of recognizing interest and penalties related to income tax matters as interest expense and general and administrative expenses, respectively. During the three months ended March 31, 2019, there was no interest or penalties associated with uncertain tax positions recognized in the Partnership’s consolidated financial statements. New Accounting Pronouncements Recently Adopted Pronouncements 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 is 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 March 31, 2019, 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. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In January 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-01, “Leases - Land Easement Practical Expedient for Transition to Topic 842”. This update applies to any entity that holds land easements. The update allows entities to adopt a practical expedient to not evaluate existing or expired land easements under Topic 842 that were not previously accounted for as leases under the current leases guidance. An entity that elects this practical expedient should evaluate new or modified land easements under Topic 842 beginning at the date that the entity adopts Topic 842. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-10, “Codification Improvements to Topic 842, Leases”. This update provides clarification and corrects unintended application of certain sections in the new lease guidance. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-11, “Lease (Topic 842): Targeted Improvements”. This update provides another transition method of allowing entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In January 2019, the Financial Accounting Standards Board issued Accounting Standards Update 2019-01, “Leases (Topic 842): Codification Improvements”. This update clarifies certain presentation and transition disclosures under Topic 842. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In June 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-07, “Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting”. This update applies the existing employee guidance to nonemployee share-based transactions, with the exception of specific guidance related to the attribution of compensation cost. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-09, “Codification Improvements”. This update provides clarification and corrects unintended application of the guidance in various sections. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. Accounting Pronouncements Not Yet Adopted 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. In April 2019, the Financial Accounting Standards Board issued Accounting Standards Update 2019-04, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments”. This update clarifies guidance previously issued in ASU 2016-01, ASU 2016-13 and ASU 2017-12. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Partnership does not believe the updates to the referenced standards will have an impact on its financial position, results of operations or liquidity. In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-13, “Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”. This update modifies the fair value measurement disclosure requirements specifically related to Level 3 fair value measurements and transfers between levels. 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 prospectively. The Partnership is currently evaluating the impact of the adoption of this update, but does not believe it will have a material impact on its financial position, results of operations or liquidity.

Revenue from Contracts with Customers	3 Months Ended
Revenue from Contracts with Customers	Mar. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from Contract with Customer	REVENUE FROM CONTRACTS WITH CUSTOMERS Royalty income represents the right to receive revenues from oil, natural gas and natural gas liquids sales obtained by the operator of the wells in which the Partnership owns a royalty interest. Royalty income is recognized at the point control of the product is transferred to the purchaser. Virtually all of the Partnership’s contracts’ pricing provisions are tied to a market index. Royalty income from oil, natural gas and natural gas liquids sales The Partnership’s oil, natural gas and natural gas liquids sales contracts are generally structured whereby the producer of the properties in which the Partnership owns a royalty interest sells the Partnership’s proportionate share of oil, natural gas and natural gas liquids production to the purchaser and the Partnership collects its percentage royalty based on the revenue generated by the sale of the oil, natural gas and natural gas liquids. In this scenario, the Partnership recognizes revenue when control transfers to the purchaser or operator at the wellhead or at the gas processing facility based on the Partnership’s percentage ownership share of the revenue, net any deductions for gathering and transportation. Transaction price allocated to remaining performance obligations The Partnership’s right to royalty income does not originate until production occurs and, therefore, is not considered to exist beyond each days’ production. Therefore, there are no remaining performance obligations under any of the Partnership’s royalty income contracts. Contract balances Under the Partnership’s royalty income contracts, it would have the right to receive royalty income once production has occurred, at which point payment is unconditional. Accordingly, the Partnership’s royalty income contracts do not give rise to contract assets or liabilities under Accounting Standards Codification 606. Prior-period performance obligations The Partnership records revenue in the month production is delivered. However, settlement statements for certain natural gas and natural gas liquids sales may not be received for 30 to 90 days after the date production is delivered, and as a result, the Partnership is required to estimate the amount of royalty income to be received based upon the Partnership’s interest. The Partnership records the differences between its estimates and the actual amounts received for royalties in the month that payment is received from the producer. The Partnership has existing internal controls for its revenue estimation process and related accruals, and any identified differences between its revenue estimates and actual revenue received historically have not been significant. For the three months ended March 31, 2019, revenue recognized in the reporting period related to performance obligations satisfied in prior reporting periods was not material. The Partnership believes that the pricing provisions of its oil, natural gas and natural gas liquids contracts are customary in the industry. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the royalties related to expected sales volumes and prices for those properties are estimated and recorded.

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2019
Business Acquisition [Line Items]
Mergers, Acquisitions and Dispositions Disclosures	ACQUISITIONS 2019 Activity During the three months ended March 31, 2019, the Partnership acquired from unrelated third parties mineral interests underlying 627 net royalty acres for an aggregate purchase price of approximately $82.7 million and, as of March 31, 2019, had mineral interests underlying 15,469 net royalty acres. The Partnership funded these acquisitions with cash on hand, a portion of the net proceeds from its February 2019 offering of common units and borrowings under its revolving credit facility. 2018 Activity During the three months ended March 31, 2018, the Partnership acquired mineral interests underlying 967 net royalty acres for an aggregate purchase price of approximately $158.1 million and, as of March 31, 2018, had mineral interests underlying 10,537 net royalty acres. The Partnership funded these acquisitions with borrowings under its revolving credit facility.

Oil and Natural Gas Interests

3 Months Ended

Mar. 31, 2019

Extractive Industries [Abstract]

Oil and Natural Gas Interests

OIL AND NATURAL GAS INTERESTS

Oil and natural gas interests include the following:



	March 31,			December 31,
	2019			2018

	(in thousands)
Oil and natural gas interests:
Subject to depletion	$	882,242		$	845,228
Not subject to depletion	916,437			871,485
Gross oil and natural gas interests	1,798,679			1,716,713
Accumulated depletion and impairment	(264,495		)	(248,296		)
Oil and natural gas interests, net	1,534,184			1,468,417
Land	5,688			5,688
Property, net of accumulated depletion and impairment	$	1,539,872		$	1,474,105

Balance of acquisition costs not subject to depletion:
Incurred in 2019	$	70,766
Incurred in 2018	468,875
Incurred in 2017	284,371
Incurred in 2016	92,425
Total not subject to depletion	$	916,437

Costs associated with unevaluated interests 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 years 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 revenue including estimated expenditures (based on current costs) to be incurred in developing and producing the proved reserves, 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.

Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

DEBT

Credit Agreement-Wells Fargo Bank

On July 8, 2014, the Partnership entered into a secured revolving credit agreement as amended and restated, (the “credit facility”) with Wells Fargo, as administrative agent, certain other lenders, and the Partnership’s consolidated subsidiary, Viper Energy Partners LLC (the “Operating Company”), as guarantor. On May 8, 2018, the Operating Company assumed all liabilities as borrower under the credit agreement and the Partnership became a guarantor of the credit agreement. On July 20, 2018, the Operating Company, the Partnership, Wells Fargo and the other lenders amended and restated the credit agreement to reflect the assumption by the Operating Company. The credit agreement, as amended and restated, 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 $555.0 million, subject to scheduled semi-annual and other 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 Operating Company and Wells Fargo each may request up to three interim redeterminations of the borrowing base during any 12-month period. As of March 31, 2019, the borrowing base was set at $555.0 million, and there was $157.0 million of outstanding borrowings and $398.0 million available for future borrowings under the credit facility.

The outstanding borrowings under the credit agreement bear interest at a rate elected by the Operating Company 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 Operating Company 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 the assets of the Partnership and the Operating Company.

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:



Financial Covenant		Required Ratio
Ratio of total net debt to EBITDAX, as defined in the credit agreement		Not greater than 4.0 to 1.0
Ratio of current assets to liabilities, as defined in the credit agreement		Not less than 1.0 to 1.0

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 March 31, 2019, the Operating Company was in compliance with the financial covenants under its credit agreement. The lenders may accelerate all of the indebtedness under the 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 credit agreement generally may be amended with the consent of the lenders holding a majority of the outstanding loans or commitments to lend.

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Partnership Agreement The second amended and restated agreement of limited partnership, dated as of May 9, 2018, as amended as of May 10, 2018 (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 three months ended March 31, 2019 and 2018, the General Partner allocated $0.6 million to the Partnership. 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 provides 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. For the three months ended March 31, 2019 and 2018, the Partnership did not pay any amounts under the Advisory Services Agreement. The Advisory Services Agreement was terminated on November 12, 2018; however, the Partnership’s payment obligation thereunder continues through the end of the current term in June 2019. 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. For the three months ended March 31, 2019, the Partnership accrued state income tax expense of $47,364 for its share of Texas margin tax for which the Partnership’s results are included in a combined tax return filed by Diamondback. Lease Bonus During the three months ended March 31, 2019, Diamondback paid the Partnership $198 in lease bonus payments to extend the term of one lease, reflecting an average bonus of $125 per acre and $3,101 in lease bonus payments for two new leases, reflecting an average bonus of $14,766 per acre. During the three months ended March 31, 2018, Diamondback did not pay the Partnership any lease bonus payments.

Unit-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

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. As of March 31, 2019, a total of 8,943,806 common units had 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 three months ended March 31, 2019, the Partnership incurred $0.4 million of unit–based compensation.

Phantom Units

Under the LTIP, the board of directors of the General Partner is authorized to issue phantom units to eligible employees and non-employee directors. 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 three months ended March 31, 2019:



	Phantom Units		Weighted Average Grant-Date Fair Value
Unvested at December 31, 2018	125,053		$	23.44
Granted	11,001		$	33.30
Vested	(60,133	)	$	21.38
Unvested at March 31, 2019	75,921		$	26.51

The aggregate fair value of phantom units that vested during the three months ended March 31, 2019 was $1.3 million. As of March 31, 2019, the unrecognized compensation cost related to unvested phantom units was $1.5 million. Such cost is expected to be recognized over a weighted-average period of 0.99 years.

Unitholders' Equity and Partnership Distributions

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Partners' Capital and Partnership Distributions

UNITHOLDERS’ EQUITY AND PARTNERSHIP DISTRIBUTIONS

The Partnership has general partner and limited partner units. At March 31, 2019, the Partnership had a total of 62,628,357 common units issued and outstanding and 72,418,500 Class B units outstanding, of which 731,500 common units and 72,418,500 Class B units were owned by Diamondback, representing approximately 54% of the total Partnership’s units outstanding. The Operating Company units and the Partnership’s Class B units owned by Diamondback are exchangeable from time to time for the Partnership’s common units (that is, one Operating Company unit and one Partnership Class B unit, together, will be exchangeable for one Partnership common unit).

The following table summarizes changes in the number of the Partnership’s common units:



	Common Units
Balance at December 31, 2018	51,653,956
Common units issued in public offerings	10,925,000
Common units vested and issued under the LTIP	60,133
Units repurchased for tax withholding	(10,732	)
Balance at March 31, 2019	62,628,357

The Partnership had a total of 72,418,500 Class B units outstanding as of March 31, 2019 and December 31, 2018, respectively.

In February 2019, the Partnership completed an underwritten public offering of 10,925,000 common units, which included 1,425,000 common units issued pursuant to an option to purchase additional common units granted to the underwriters. Following this offering, Diamondback owned approximately 54% of the total Partnership units then outstanding. The Partnership received net proceeds from this offering of approximately $340.6 million, after deducting underwriting discounts and commissions and offering expenses. The Partnership used the net proceeds to purchase units of the Operating Company. The Operating Company in turn used the net proceeds to repay a portion of the outstanding borrowings under the revolving credit facility and finance acquisitions during the period.

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 ended September 30, 2014.

The following table presents information regarding cash distributions approved by the board of directors of the General Partner for the periods presented:



	Amount per Common Unit		Declaration Date	Unitholder Record Date	Payment Date
Q4 2018	$	0.51	January 30, 2019	February 19, 2019	February 25, 2019

Cash distributions will be 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 will be determined by the board of directors of the General Partner following the end of such quarter. Available cash for each quarter will generally equal 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 the General Partner deems necessary or appropriate, if any.

Earnings Per Unit

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Unit

EARNINGS PER UNIT

The net income per common unit on the consolidated statements of operations is based on the net income of the Partnership for the three months ended March 31, 2019 and 2018, since this is the amount of net income that is attributable to the Partnership’s common units.

The Partnership’s net income is allocated wholly to the common units. Payments made to the Partnership’s unitholders are determined in relation to the cash distribution policy described in Note 9—Unitholders’ Equity and Partnership Distributions.

Basic net income per common unit is calculated by dividing net income 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.



	Three Months Ended March 31,
	2019		2018
	(In thousands, except per unit amounts)
Net income attributable to the period	$	33,779	$	42,896
Weighted average common units outstanding:
Basic weighted average common units outstanding	55,448		113,901
Effect of dilutive securities:
Potential common units issuable	27		90
Diluted weighted average common units outstanding	55,475		113,991
Net income per common unit, basic	$	0.61	$	0.38
Net income per common unit, diluted	$	0.61	$	0.38

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Investments, Owned, Federal Income Tax Note [Line Items]
Income Tax Disclosure	INCOME TAXES As discussed further in Note 1, on March 29, 2018, the Partnership announced that the Board of Directors of the General Partner had unanimously approved a change of the Partnership’s federal income tax status from that of a pass-through partnership to that of a taxable entity, which change became effective on May 10, 2018. Subsequent to the Partnership’s change in tax status, the Partnership’s provision for income taxes for the period ended March 31, 2019 is based on the estimated annual effective tax rate plus discrete items. The Partnership’s effective income tax rate was (87.17)% for the three months ended March 31, 2019. Total income tax benefit for the three months ended March 31, 2019 differed from amounts computed by applying the United States federal statutory tax rate to pre-tax income for the period primarily due to the revision of estimated deferred taxes recognized as a result of the Partnership’s change in tax status and net income attributable to the non-controlling interest. For the three months ended March 31, 2019, the Partnership recorded a discrete income tax benefit of approximately $35.2 million related to the revision of estimated deferred taxes on the Partnership’s investment in the Operating Company arising from the change in the Partnership’s federal tax status. Under federal income tax provisions applicable to the Partnership’s change in tax status, the Partnership’s basis for federal income tax purposes in its interest in the Operating Company consists primarily of the sum of the Partnership’s unitholders’ tax bases in their interests in the Partnership on the date of the tax status change. The Partnership prepared its best estimate of the resultant tax basis in the Operating Company for purposes of the Partnership’s income tax provision for the period of the change, but information necessary for the partnership to finalize its determination is not expected to be available until unitholders’ tax basis information is fully reported and the Partnership finalizes its federal income tax computations for 2018. Based on information available as of the balance sheet date, the Partnership has revised its estimate of the difference between its tax basis and its basis for financial accounting purposes in the Operating Company on the date of the tax status change, resulting in deferred income tax benefit of $35.2 million included in the Partnership’s income tax provision for the three months ended March 31, 2019. Prior to May 10, 2018, the effective date of the Partnership’s change in income tax status, the Partnership was organized as a pass-through entity for income tax purposes. As a result, the Partnership’s partners were responsible for federal income taxes on their share of the Partnership’s taxable income.

Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring

FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Partnership’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Partnership uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities.

Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date.

Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value.

Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement.

The Partnership’s cost method investment is reported at fair value on a recurring basis. The fair value of the Partnership’s investment at March 31, 2019 and December 31, 2018 was determined using the March 31, 2019 and December 31, 2018 quoted market prices. The investment is a Level 1 classification in the fair value hierarchy. See Note 2—Summary of Significant Accounting Policies. The following table summarizes the changes in fair value of the Partnership’s investment:



	(in thousands)
Fair Value of investment as of December 31, 2017	$	33,851
Impact of adoption of Accounting Standards Update 2016-01	(18,651		)
Gain on investment	899
Fair Value of investment as of March 31, 2018	$	16,099



	(in thousands)
Fair Value of investment as of December 31, 2018	$	14,525
Gain on investment	3,592
Fair Value of investment as of March 31, 2019	$	18,117

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
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.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting	Basis of Presentation The accompanying consolidated financial statements and related notes thereto were prepared in conformity with GAAP. All material intercompany balances and transactions are eliminated in consolidation. These financial statements have been prepared by the Partnership without audit, pursuant to the rules and regulations of the SEC. They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations, although the Partnership believes the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10–Q should be read in conjunction with the Partnership’s most recent Annual Report on Form 10–K for the fiscal year ended December 31, 2018, which contains a summary of the Partnership’s significant accounting policies and other disclosures.
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 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 interests and unit–based compensation.
Cost Method Investments	Investments The Partnership has an equity interest in a limited partnership that is so minor that the Partnership has no influence over the limited partnership’s operating and financial policies. This interest was acquired during the year ended December 31, 2014 and is accounted for under the cost method.
Income Tax	Income Taxes The Partnership uses the asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities and (ii) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future period when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period the rate change is enacted. A valuation allowance is provided for deferred tax assets when it is more likely than not the deferred tax assets will not be realized. The Partnership is subject to margin tax in the state of Texas pursuant to a tax sharing agreement with Diamondback, as discussed further in Note 7. In addition to the 2018 tax year, the Partnership’s 2015 through 2017 tax years, periods during which the Partnership was organized as a pass-through entity for income tax purposes, remain open to examination by tax authorities. As of March 31, 2019, the Partnership had no unrecognized tax benefits that would have a material impact on the effective tax rate. The Partnership is continuing its practice of recognizing interest and penalties related to income tax matters as interest expense and general and administrative expenses, respectively. During the three months ended March 31, 2019, there was no interest or penalties associated with uncertain tax positions recognized in the Partnership’s consolidated financial statements.
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Pronouncements 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 is 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 March 31, 2019, 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. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In January 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-01, “Leases - Land Easement Practical Expedient for Transition to Topic 842”. This update applies to any entity that holds land easements. The update allows entities to adopt a practical expedient to not evaluate existing or expired land easements under Topic 842 that were not previously accounted for as leases under the current leases guidance. An entity that elects this practical expedient should evaluate new or modified land easements under Topic 842 beginning at the date that the entity adopts Topic 842. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-10, “Codification Improvements to Topic 842, Leases”. This update provides clarification and corrects unintended application of certain sections in the new lease guidance. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-11, “Lease (Topic 842): Targeted Improvements”. This update provides another transition method of allowing entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In January 2019, the Financial Accounting Standards Board issued Accounting Standards Update 2019-01, “Leases (Topic 842): Codification Improvements”. This update clarifies certain presentation and transition disclosures under Topic 842. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In June 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-07, “Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting”. This update applies the existing employee guidance to nonemployee share-based transactions, with the exception of specific guidance related to the attribution of compensation cost. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-09, “Codification Improvements”. This update provides clarification and corrects unintended application of the guidance in various sections. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Partnership adopted this update effective January 1, 2019. It did not have a material impact on its financial position, results of operations or liquidity. Accounting Pronouncements Not Yet Adopted 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. In April 2019, the Financial Accounting Standards Board issued Accounting Standards Update 2019-04, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments”. This update clarifies guidance previously issued in ASU 2016-01, ASU 2016-13 and ASU 2017-12. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Partnership does not believe the updates to the referenced standards will have an impact on its financial position, results of operations or liquidity. In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-13, “Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”. This update modifies the fair value measurement disclosure requirements specifically related to Level 3 fair value measurements and transfers between levels. 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 prospectively. The Partnership is currently evaluating the impact of the adoption of this update, but does not believe it will have a material impact on its financial position, results of operations or liquidity.
Revenue Recognition, Policy	Royalty income represents the right to receive revenues from oil, natural gas and natural gas liquids sales obtained by the operator of the wells in which the Partnership owns a royalty interest. Royalty income is recognized at the point control of the product is transferred to the purchaser. Virtually all of the Partnership’s contracts’ pricing provisions are tied to a market index. Royalty income from oil, natural gas and natural gas liquids sales The Partnership’s oil, natural gas and natural gas liquids sales contracts are generally structured whereby the producer of the properties in which the Partnership owns a royalty interest sells the Partnership’s proportionate share of oil, natural gas and natural gas liquids production to the purchaser and the Partnership collects its percentage royalty based on the revenue generated by the sale of the oil, natural gas and natural gas liquids. In this scenario, the Partnership recognizes revenue when control transfers to the purchaser or operator at the wellhead or at the gas processing facility based on the Partnership’s percentage ownership share of the revenue, net any deductions for gathering and transportation. Transaction price allocated to remaining performance obligations The Partnership’s right to royalty income does not originate until production occurs and, therefore, is not considered to exist beyond each days’ production. Therefore, there are no remaining performance obligations under any of the Partnership’s royalty income contracts. Contract balances Under the Partnership’s royalty income contracts, it would have the right to receive royalty income once production has occurred, at which point payment is unconditional. Accordingly, the Partnership’s royalty income contracts do not give rise to contract assets or liabilities under Accounting Standards Codification 606. Prior-period performance obligations The Partnership records revenue in the month production is delivered. However, settlement statements for certain natural gas and natural gas liquids sales may not be received for 30 to 90 days after the date production is delivered, and as a result, the Partnership is required to estimate the amount of royalty income to be received based upon the Partnership’s interest. The Partnership records the differences between its estimates and the actual amounts received for royalties in the month that payment is received from the producer. The Partnership has existing internal controls for its revenue estimation process and related accruals, and any identified differences between its revenue estimates and actual revenue received historically have not been significant. For the three months ended March 31, 2019, revenue recognized in the reporting period related to performance obligations satisfied in prior reporting periods was not material. The Partnership believes that the pricing provisions of its oil, natural gas and natural gas liquids contracts are customary in the industry. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the royalties related to expected sales volumes and prices for those properties are estimated and recorded.
Fair Value Measurement, Policy	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Partnership’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Partnership uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities. Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement.

- 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.

+ References + Details

Oil and Natural Gas Interests (Tables)

3 Months Ended

Mar. 31, 2019

Extractive Industries [Abstract]

Aggregate capitalized costs related to oil and natural gas production activities

Oil and natural gas interests include the following:



	March 31,			December 31,
	2019			2018

	(in thousands)
Oil and natural gas interests:
Subject to depletion	$	882,242		$	845,228
Not subject to depletion	916,437			871,485
Gross oil and natural gas interests	1,798,679			1,716,713
Accumulated depletion and impairment	(264,495		)	(248,296		)
Oil and natural gas interests, net	1,534,184			1,468,417
Land	5,688			5,688
Property, net of accumulated depletion and impairment	$	1,539,872		$	1,474,105

Balance of acquisition costs not subject to depletion:
Incurred in 2019	$	70,766
Incurred in 2018	468,875
Incurred in 2017	284,371
Incurred in 2016	92,425
Total not subject to depletion	$	916,437

Unitholders' Equity and Partnership Distributions (Tables)

3 Months Ended

Mar. 31, 2019

Distribution Made to Limited Partner [Line Items]

Schedule of Changes in Common Units

The following table summarizes changes in the number of the Partnership’s common units:



	Common Units
Balance at December 31, 2018	51,653,956
Common units issued in public offerings	10,925,000
Common units vested and issued under the LTIP	60,133
Units repurchased for tax withholding	(10,732	)
Balance at March 31, 2019	62,628,357

The Partnership had a total of 72,418,500 Class B units outstanding as of March 31, 2019 and December 31, 2018, respectively.

Distributions Made to Limited Partner, by Distribution

The following table presents information regarding cash distributions approved by the board of directors of the General Partner for the periods presented:



	Amount per Common Unit		Declaration Date	Unitholder Record Date	Payment Date
Q4 2018	$	0.51	January 30, 2019	February 19, 2019	February 25, 2019

Earnings Per Unit (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of basic and diluted net income per common unit



	Three Months Ended March 31,
	2019		2018
	(In thousands, except per unit amounts)
Net income attributable to the period	$	33,779	$	42,896
Weighted average common units outstanding:
Basic weighted average common units outstanding	55,448		113,901
Effect of dilutive securities:
Potential common units issuable	27		90
Diluted weighted average common units outstanding	55,475		113,991
Net income per common unit, basic	$	0.61	$	0.38
Net income per common unit, diluted	$	0.61	$	0.38

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis



	(in thousands)
Fair Value of investment as of December 31, 2017	$	33,851
Impact of adoption of Accounting Standards Update 2016-01	(18,651		)
Gain on investment	899
Fair Value of investment as of March 31, 2018	$	16,099



	(in thousands)
Fair Value of investment as of December 31, 2018	$	14,525
Gain on investment	3,592
Fair Value of investment as of March 31, 2019	$	18,117

Organization and Basis of Presentation (Details) - USD ($)			1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 28, 2019	May 10, 2018	Jul. 31, 2018	Jun. 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Apr. 26, 2019	Dec. 31, 2018
Limited Partners' Capital Account [Line Items]
Class B Units Outstanding					72,418,500		72,418,500	72,418,500
General Partners' Contributed Capital		$ 1,000,000.0
Limited Partners' Contributed Capital		$ 1,000,000.0
Limited partners capital account, percentage of distribution		8.00%
Number of Class B Units Converted		731,500
Partners' Capital Account, Units, Converted		731,500
Limited Partners' Capital Account, Distribution Amount		$ 10,000			$ 25,970,000	$ 18,737,000
Parent Company [Member]
Limited Partners' Capital Account [Line Items]
Percent of limited partnership interest	54.00%		59.00%	64.00%
Number of common units exchanged		73,150,000
Class B Units Outstanding		73,150,000			72,418,500
General Partner [Member]
Limited Partners' Capital Account [Line Items]
Percent of General Partner interest			41.00%	36.00%	100.00%
Limited Partners' Capital Account, Distribution Amount					$ 0	$ 0

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investment [Line Items]
Impact of adoption of ASU 2016-01		$ (18,651)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 0
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 0

Acquisitions (Details) - Series of Individually Immaterial Business Acquisitions [Member] $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) a	Mar. 31, 2018 USD ($) a
Business Acquisition [Line Items]
Mineral Properties Acquired, Net Royalty Acres	627	967
Aggregate purchase price \| $	$ 82.7	$ 158.1
Mineral Properties, Net Royalty Acres	15,469	10,537

Oil and Natural Gas Interests (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Oil and Gas Property [Abstract]
Subject to depletion	$ 882,242	$ 845,228
Not subject to depletion	916,437	871,485
Gross oil and natural gas interests	1,798,679	1,716,713
Accumulated depletion and impairment	(264,495)	(248,296)
Oil and natural gas interests, net	1,534,184	1,468,417
Land	5,688	5,688
Property, net	1,539,872	1,474,105
Balance of acquisition costs not subject to depletion:	$ 70,766	$ 468,875	$ 284,371	$ 92,425
Minimum [Member]
Property, Plant and Equipment [Line Items]
Anticipated timing of cost inclusion in amortization calculation	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Anticipated timing of cost inclusion in amortization calculation	5 years

Debt - Credit Facility (Details) $ in Millions	3 Months Ended
Debt - Credit Facility (Details) $ in Millions	Mar. 31, 2019 USD ($) redetermindation
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 2,000.0
Line of Credit Facility, Current Borrowing Capacity	$ 555.0
Number of interim redeterminations that may be requested \| redetermindation	3
Period of redeterminations	12 months
Amount outstanding under credit facility	$ 157.0
Remaining borrowing capacity	$ 398.0
Federal Funds Effective Swap Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Minimum [Member]
Line of Credit Facility [Line Items]
Commitment fee on the unused portion of the borrowing base	0.375%
Minimum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Minimum [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Maximum [Member]
Line of Credit Facility [Line Items]
Commitment fee on the unused portion of the borrowing base	0.50%
Maximum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Maximum [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%

Debt - Financial Covenants (Details) $ in Millions	Mar. 31, 2019 USD ($)
Line of Credit Facility [Line Items]
Maximum issuance of unsecured debt	$ 400.0
Reduction of borrowing base due to additional issuances of unsecured debt	25.00%
Maximum [Member]
Line of Credit Facility [Line Items]
Ratio of total net 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

Related Party Transactions (Details)		3 Months Ended
Related Party Transactions (Details)	Jun. 23, 2014 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)
Related Party Transaction [Line Items]
Accrued state income tax expense		$ 47,364
General Partner \| Partnership Agreement [Member]
Related Party Transaction [Line Items]
Incurred costs for transactions with related party		615,000	$ 615,000
Affiliated Entity [Member] \| Advisory Services Agreement [Member]
Related Party Transaction [Line Items]
Advisory services agreement, annual fee	$ 500,000
Incurred costs for transactions with related party		0	0
Diamondback Energy, Inc.
Related Party Transaction [Line Items]
Revenue from Related Parties		$ 198	$ 0
Number of leases extended		1
Average price per acre		$ 125
Revenue from related parties on new leases		$ 3,101
Number of new leases		2
Average price per acre on new leases		$ 14,766

Unit-Based Compensation Additional Disclosures (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized \| shares	8,943,806
Allocated Share-based Compensation Expense \| $	$ 0.4

Unit-Based Compensation Phantom Units (Details) - Phantom Share Units (PSUs) [Member] $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at December 31, 2018 \| shares	125,053
Granted \| shares	11,001
Vested \| shares	(60,133)
Unvested at March 31, 2019 \| shares	75,921
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested at December 31, 2018 \| $ / shares	$ 23.44
Granted \| $ / shares	33.30
Vested \| $ / shares	21.38
Unvested at March 31, 2019 \| $ / shares	$ 26.51
Aggregate fair value of phantom units vested during period \| $	$ 1.3
Unrecognized compensation cost related to unvested phantom units \| $	$ 1.5
Unrecognized compensation cost related to phantom units, weighted-average period	11 months 26 days

Unitholders' Equity and Partnership Distributions (Details) - USD ($) $ in Millions		1 Months Ended		2 Months Ended	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2019	Jul. 31, 2018	Jun. 30, 2018	Mar. 31, 2019	Apr. 26, 2019	Dec. 31, 2018	May 10, 2018
Limited Partners' Capital Account [Line Items]
Common units outstanding					62,628,357		51,653,956
Class B Units Outstanding					72,418,500	72,418,500	72,418,500
Total common units issued					62,628,357		51,653,956
Class B Units Issued					72,418,500		72,418,500
Common units vested and issued under the LTIP					60,133
Units repurchased for tax withholding, units					(10,732)
Diamondback Energy, Inc.
Limited Partners' Capital Account [Line Items]
Common units outstanding					731,500
Class B Units Outstanding					72,418,500			73,150,000
Percent of limited partnership interest	54.00%		59.00%	64.00%
Follow-on Public Offering [Member]
Limited Partners' Capital Account [Line Items]
Units sold in public offering					10,925,000
Sale of Stock, Number of Shares Issued in Transaction		10,925,000
Sale of Stock, Consideration Received on Transaction		$ 340.6
Over-Allotment Option [Member]
Limited Partners' Capital Account [Line Items]
Sale of Stock, Number of Shares Issued in Transaction		1,425,000

Unitholders' Equity and Partnership Distributions Partnership Distributions (Details) - Cash Distribution [Member]	3 Months Ended
	Mar. 31, 2019 $ / shares
Distribution Made to Limited Partner [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit	$ 0.51
Distribution Made to Limited Partner, Declaration Date	Jan. 30, 2019
Distribution Made to Limited Partner, Date of Record	Feb. 19, 2019
Distribution Made to Limited Partner, Distribution Date	Feb. 25, 2019
Distribution Made to Limited Partner, Distribution Date, Period after Quarter End	60 days

Earnings Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Basic:
Net income attributable to the period	$ 33,779	$ 42,896
Basic weighted average common units outstanding	55,448	113,901
Net income per common unit, basic	$ 0.61	$ 0.38
Effect of Dilutive Securities:
Effect of dilutive securities: contingently issuable units	27	90
Diluted:
Diluted weighted average common units outstanding	55,475	113,991
Net income per common unit, diluted	$ 0.61	$ 0.38

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Income Taxes (Details) $ in Millions	3 Months Ended
Income Taxes (Details) $ in Millions	Mar. 31, 2019 USD ($)
Valuation Allowance [Line Items]
Effective Income Tax Rate Reconciliation, Percent	(87.17%)
Discrete income tax benefit related to deferred taxes recorded during the period	$ 35.2

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact of adoption of ASU 2016-01		$ (18,651)
Gain on revaluation of investment	$ 3,592	899
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact of adoption of ASU 2016-01		(18,651)
Gain on revaluation of investment	3,592	899
Other Noncurrent Assets [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	$ 18,117	$ 16,099	$ 14,525	$ 33,851

Subsequent Events (Details) - Cash Distribution [Member] - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Subsequent Event [Line Items]
Distribution Made to Limited Partner, Declaration Date		Jan. 30, 2019
Distribution Made to Limited Partner, Distributions Declared, Per Unit		$ 0.51
Distribution Made to Limited Partner, Distribution Date		Feb. 25, 2019
Distribution Made to Limited Partner, Date of Record		Feb. 19, 2019
Subsequent Event [Member]
Subsequent Event [Line Items]
Distribution Made to Limited Partner, Declaration Date	Apr. 25, 2019
Distribution Made to Limited Partner, Distributions Declared, Per Unit	$ 0.38
Distribution Made to Limited Partner, Distribution Date	May 20, 2019
Distribution Made to Limited Partner, Date of Record	May 13, 2019

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Cash Distribution On April 25, 2019, the board of directors of the General Partner approved a cash distribution for the first quarter of 2019 of $0.38 per common unit, payable on May 20, 2019, to unitholders of record at the close of business on May 13, 2019.