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Category: Europe

  • MIL-OSI United Nations: Ukraine war: Amid shifting alliances, General Assembly passes resolution condemning Russia’s aggression

    Source: United Nations 2-b

    Peace and Security

    Three years to the day since Russia’s full-scale invasion of Ukraine, the UN General Assembly adopted two competing resolutions on resolving the conflict on Monday, one initiated by the United States and the other by Ukraine – a sign of strategic differences within the transatlantic alliance over the way forward for peace.

    The resolution tabled by the United States, which omitted mention of Russian aggression, only passed after a majority of Member States voted to add EU-led amendments which led to the US abstaining on it own motion and voting against the Ukrainian text. 

    However, the text in the original US resolution was passed hours later in the Security Council – the first to do so since the full-scale invasion of Ukraine by Russia on 24 February 2022.

    Until Monday’s high stakes diplomatic debates, the Security Council – which is responsible for maintaining international peace and security – has been unable to find consensus, owing largely to Russia’s veto power as a permanent member.

    The two General Assembly draft resolutions put before UN Member States during the morning session both ostensibly called for peace and an end to the conflict – but diverged fundamentally.

    UN Photo/Manuel Elías

    Deputy Foreign Minister Betsa Mariana of Ukraine addresses the Eleventh Emergency Special Session (resumed) of the General Assembly on Ukraine.

    Path to peace?

    “Advancing a comprehensive, just and lasting peace in Ukraine”, proposed by Ukraine and co-sponsored by a host of European countries, was a three-page document that included clauses noting that “the full-scale invasion of Ukraine by the Russian Federation has persisted for three years and continues to have devastating and long-lasting consequences not only for Ukraine, but also for other regions and global stability.”

    It called for a commitment to “the sovereignty, independence, unity and territorial integrity of Ukraine within its internationally recognized borders” and the need to ensure accountability for crimes committed under international law, through “fair and independent investigations and prosecutions at national and international level”.

    The US tabled its own version, alongside entitled “Path to Peace”, a brief draft limited to mourning the loss of life throughout the Russian Federation-Ukraine conflict; reiterating that the principal purpose of the UN is to maintain international peace and security and to peacefully settle disputes; and imploring a swift end to the conflict – urging a lasting peace between Ukraine and the Russia.

    Amendments to the text were put forward by Russia and the European Union. Russia proposed adding the words “including by addressing its root causes” to the third paragraph (on a swift end to the conflict).

    The EU proposed adding some of the language in the Ukrainian resolution, referring to the full-scale invasion of Ukraine by the Russian Federation (rather than the Russian Federation-Ukraine conflict), the “territorial integrity” of Ukraine, and calling for a peace in line with the UN Charter.

    UN Photo/Manuel Elías

    US Deputy Permanent Representative Dorothy Shea addresses the Eleventh Emergency Special Session (resumed) of the General Assembly on Ukraine.

    A change in position

    When it came to the vote, Ukraine’s version passed by 93 votes to 18. The US voted against, alongside Russia, marking a major shift of its position on the conflict and previous votes. The US supported a similar resolution submitted in February 2023 which received 141 votes in favour.

    65 nations abstained, including South Africa, whose representative, Ambassador Mathu Joyini, said that the draft “does not go far enough in terms of inclusivity and creating a positive momentum towards a peaceful negotiation”.

    The US version was also adopted (93 in favour, eight against and 73 abstentions), but Member States also voted to add the European Union amendments with 60 in favour, 18 against and 81 abstentions.

    The United States voted against the amendments and abstained on its own resolution (the General Assembly failed to adopt the Russian amendment, with 31 in favour, 71 against and 59 abstentions).

    Ukraine’s Deputy Foreign Minister Mariana Betsa, told the Assembly that the way Russian aggression is answered “will define the future of Ukraine…Europe and our common future.”

    Later, flanked by co-sponsors of the country’s General Assembly resolution, she delivered a statement at the media stakeout just outside the Security Council Chamber. She said that the General Assembly had demanded “an early end to this war of aggression and a just, lasting and comprehensive peace in Ukraine, in line with the UN Charter.”

    The General Assembly’s reaffirmation of support for international law and the principles of sovereignty and territorial integrity was, she said, profoundly important and warned that a peace deal that “risks rewarding aggression increases the risk,” creates a dangerous precedent for the future.

    UN Photo/Eskinder Debebe

    The Deputy Foreign Minister of Ukraine, Betsa Mariana (centre at podium), addresses the media outside the Security Council at UN Headquarters in New York.

    Security Council breakthrough

    Attention turned to the Security Council in the afternoon, where a vote was due to be held on the United States resolution.

    As before, there were attempts to add amendments supported by several western European countries, referring to a “full-scale invasion” by Russia and Ukraine’s territorial integrity, and proposals from Russia to refer to the “deeply rooted reasons” for the conflict and lasting peace in both Ukraine and Russia.

    But the amendments were voted down and the resolution was passed without any changes by the 15-member Council (10 in favour, zero against and five abstentions).

    Speaking after the vote, US Ambassador Dorothy Shea said Washington sincerely appreciated Council members’ support saying that it “puts us on the path to peace.”

    After a pause in proceedings, Rosemary DiCarlo, the head of UN Peacekeeping and Political Affairs, briefed the 15 Council members on the current situation in Ukraine.

    She said that the Russian invasion “undermined the very foundations of the international order,” and reminded the delegates that, since 24 February 2022, at least 12,654 Ukrainian civilians, including 673 children, have been killed.

    Referring to the Security Council resolution adopted earlier in the Council, Ms. DiCarlo insisted that peace in Ukraine must be “just, sustainable and comprehensive, in line with the Charter of the United Nations, international law, and resolutions of the General Assembly”, including those adopted on Monday morning during the General Assembly emergency special session.

    Find out more in our comprehensive live coverage of the day here.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: With 10 Votes in Favour, 5 Abstentions, Security Council Adopts Resolution 2774 (2025) Mourning Loss of Life, as Russian Federation’s Invasion of Ukraine Enters Fourth Year

    Source: United Nations MIL OSI b

    Members Implore Swift End to Conflict, Urge Lasting Peace between Two Nations

    As the Russian Federation’s invasion of Ukraine entered its fourth year, the Security Council today adopted a resolution mourning the tragic loss of life and reiterating that the principal purpose of the United Nations is to maintain international peace and security and peacefully settle disputes.

    Adopting resolution 2774 (2025) (to be issued as document S/RES/2774(2025)) by a vote of 10 in favour to none against, with 5 abstentions (Denmark, France, Greece, Slovenia, United Kingdom), the Council implored a swift end to the conflict and urged a lasting peace between Ukraine and the Russian Federation.

    Before the vote, the representative of the United States said that the Council stands on “the precipice of history with a solemn task — creating conditions to end the bloodiest war on the European continent” since the organ was created in June 1945.  Noting that her country’s draft text is “a symbolic, simple first step towards peace”, she added that it “is not a peace deal”.  Rather, it represents a path to peace, and she urged all Council members to join the United States in vanquishing the scourge of this war.

    Proposed Amendments Fail to Obtain Required Number of Votes

    However, the representative of the United Kingdom underscored:  “There can be no equivalence between Russia and Ukraine in how this Council refers to this war.”  Moscow chose to launch a war of aggression, and “the Council must be clear on this”, she stressed.  “We must also be clear that peace must respect the UN Charter and Ukraine’s sovereignty and territorial integrity within its internationally recognized borders,” she added, proposing several amendments to the text on behalf of the Council members who ultimately abstained from the vote on the text as a whole.

    France’s delegate noted such proposed amendments demonstrate “our resolute commitment — after three years of war — to a comprehensive, just and lasting peace in Ukraine”.  However, he underscored that peace cannot be a synonym for capitulation of the aggressed State.  The amendments, he said, also aim to recall that there is an aggressor and an aggressed State, with the Russian Federation having attacked a sovereign State that posed no threat to it.

    The representative of the Russian Federation, for his part, said of today’s text:  “We consider it, overall, as a common-sense initiative.”  It reflects, he said, the desire of the new United States Administration to “really contribute”.  He also proposed several amendments, including inserting language regarding the need to “eradicate the root causes of the Ukrainian crisis”.  On the amendments proposed by the European Council members, he said they “replace the essence of the American text and make it into another anti-Russia ultimatum”.

    None of the five proposed amendments were adopted, either because they failed to obtain the required number of votes or because the Russian Federation cast its veto.

    United States’ Speaker Welcomes Adoption of First Resolution in Three Years on Ukraine Firmly Calling for End to Conflict 

    Following the adoption of the unamended text, the representative of the United States welcomed Council members’ support of the resolution, welcoming the first Council action taken in three years on Ukraine to firmly call for an end to the conflict.  “This resolution puts us on the path to peace,” she affirmed, and although it is a first step, it is a crucial one.  The Council must now use it to build a peaceful future for Ukraine, the Russian Federation and the international community.

    Other Council Members Support Text Overall Yet Raise Concerns

    The representative of France, however, said that, while his country is “fully committed to peace in Ukraine”, Paris calls for a comprehensive, just and lasting peace — “certainly not for capitulation of the victim”.  “There will be no peace and security if aggressors are rewarded and the law of the jungle wins,” he stressed.  Similarly, the representative of the United Kingdom stressed that the terms of peace must send the message that aggression does not pay.  No peace will be sustainable without Ukraine’s consent, she said, voicing regret that her delegation’s proposals making these points clear were not taken on board.

    “There is nobody who wants peace more than Ukrainians and Europeans,” stressed Slovenia’s representative.  However, he observed:  “A person convinced against their will is against you still — there will be peace, but it will be just and it needs to last.”  Building on that, Denmark’s representative stressed that peace must be on the right terms, voicing regret that today’s resolution falls far short of that vision.  “We need to reaffirm our commitment to Ukraine’s sovereignty and territorial integrity,” she stated.

    For his part, the representative of the Republic of Korea — noting that Moscow’s war of aggression has “tragically claimed countless innocent lives” — expressed hope that today’s adoption will provide an opportunity “for all relevant parties to accelerate efforts to achieve just and sustainable peace”.  And while Guyana’s representative said that the text is an important step towards a peaceful end to the war, she said that there would have been added value in affirming support for the UN Charter – particularly States’ obligation to refrain from the threat or use of force against the territorial integrity or political independence of any State.

    Pakistan’s representative — noting that the “priority of peace has remained largely absent and elusive”, even as the security, humanitarian and economic crises have intensified — said:  “A different approach was perhaps required.”  He therefore expressed hope that today’s resolution will “lend impetus to an inclusive peace process that yields a durable solution in accordance with international law”.

    Panama’s representative also voiced support for the resolution, as it is not objectionable due to its simplistic content.  However, “its silence speaks more eloquently than its words”, he observed, adding that his country understands the aftermath of violations of sovereignty and territorial integrity.  “And for our own historic reasons, we have always rejected the aggression of one State against another,” he said.

    Recalling his delegation’s repeated calls for the parties to engage in negotiations to reach a just and permanent peace in the region, the representative of Algeria said that “our call was the only criteria that Algeria used to determine its position today through our vote”.  Similarly, the representative of China, Council President for February, spoke in his national capacity to recall his country’s “consistent principles and propositions on the Ukraine issue”.  He added: “The ultimate solution for any conflict lies at the peace table.”

    Russian Federation Welcomes Changes in United States Position

    Meanwhile, the representative of the Russian Federation welcomed changes in the United States’ position on the Ukrainian conflict.  “It is clear that the militarizing Europe today is the only player internationally which wants the war to continue,” he stated.  And while today’s text is not ideal, it is a first attempt to have a constructive and future-oriented product by the Council.  The key outline of a restored European and international security “can already be seen in the American text and this gives us a certain optimism”, he stated.

    At the outset of the meeting, the representative of France proposed that today’s vote be postponed, expressing concern that the text was introduced “without real negotiations among Council members”.  While the representative of the United Kingdom expressed strong support for that proposal, the representative of the United States opposed it.  Ultimately, that proposal was rejected for failing to obtain a sufficient number of votes.

    MIL OSI United Nations News –

  • MIL-OSI United Kingdom: There needs to be a lasting and just peace with Ukraine’s voice at the heart of any talks: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Speech

    There needs to be a lasting and just peace with Ukraine’s voice at the heart of any talks: UK statement at the UN Security Council

    Statement by Ambassador Barbara Woodward, UK Permanent Representative to the UN, at the UN Security Council meeting on Ukraine.

    Today marks the third year of President Putin’s full-scale invasion, forced on the Ukrainian and Russian people, in clear breach of the UN Charter.

    So first of all today, of all days, we pause to remember and honour the victims of this war. Those who have lost their lives, their homes, their futures, their limbs, their childhoods, family members and friends. Millions who have been displaced, tens of thousands who have lost their lives.

    They’ve lost schools, playgrounds, farms, churches, hospitals.

    While Russian forces have used rape, torture and execution as weapons of war and put nuclear safety at risk.

    This is a war that Putin said would take three days.

    Three years on, Ukrainians have paid a terrible price.

    And the impact of this war is not limited to Ukraine.

    Hunger, poverty and energy insecurity have increased worldwide.

    So second, as we look forward to peace, let’s be clear, no country wants peace more than Ukraine. Ukraine is more than ready for this war to end.

    But there needs to be a lasting and a just peace, with Ukraine’s voice at the heart of any talks.

    A peace that is not just a pause in fighting but a peace that leaves Ukraine secure and free from Russian attack. A peace that shows that aggression does not pay. And a peace that ends forever Putin’s imperialist ambitions.

    And we have to remember that Putin by contrast, only wants capitulation.

    So if Russia is allowed to win, we will live in a world where might is right, where borders can be redrawn by force, where aggressors think they can act with impunity. The consequences for peace and security around the world are dire.

    So third then, a lasting peace must come from strength.

    Strength and courage that Ukraine has shown abundantly in the last three years.

    But that strength and courage needs to be underpinned by robust security agreements from the outset because Putin has repeatedly shown that he will break a weak deal.

    He has long denied Ukraine’s right to exist as a free state.

    So the UK, with our European partners and the United States, will work closely together for Ukraine and Europe will continue to take responsibility for our continent’s security.

    The UK is ready to play a leading role to support Ukraine in its right to self-defence. To support the negotiation and implementation of a peace agreement, a just and lasting peace agreement, which protects Ukraine’s sovereignty and territorial integrity, its internationally recognised borders, in line with the UN Charter.

    Updates to this page

    Published 24 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Moscow Metro – Biometric payment in Moscow transport will become even more accessible

    Translartion. Region: Russians Fedetion –

    Source: Moscow Metro

    According to Maxim Liksutov, Deputy Mayor of Moscow for Transport and Industry. and Industry, the facial recognition payment service will be available at all metro turnstiles by the end of 2025. To expand the technology and maintain its high speed, additional Russian-made equipment will be installed in station vestibules.

    Biometrics at Moscow Metro.

    Paying with biometrics means:

    Convenient. No need for cards, phones or cash. Economical. Lowest fares on public transport. Safe. The system has a bank-level protection, and all data is encrypted.

    Biometric payment is the most convenient fare payment service. It is currently available at all metro stations, on the Moscow Central Circle, in Aeroexpress trains and regular river transport. Future plans include expanding the service to the Moscow Central Diameters and ground city transport.

    Biometric payments have proven themselves to be a reliable and secure payment method.

    Nowhere in the world has this service been implemented on such a large scale and with such convenience for passengers as in the capital. Since its launch, the service has been used more than 140 million times, with more than 160,000 facial recognition passes being made every working day. We are implementing the best domestic payment solutions in public transport on behalf of Moscow Mayor Sergei Sobyanin, added Maxim Liksutov.

    MIL OSI Russia News –

  • MIL-OSI Canada: Statement from Premier Pillai on the third anniversary of the Russian invasion of Ukraine

    Statement from Premier Pillai on the third anniversary of the Russian invasion of Ukraine
    jlutz

    Premier Ranj Pillai has issued the following statement:

    “Three years ago today, Russia launched its illegal and unprovoked war of aggression against Ukraine. This war has caused immense suffering and its effects have been felt around the world, including here in the Yukon.

    “Ukrainians living in the Yukon are an important part of our community and I want to express my deepest condolences to them and to everyone affected by this ongoing conflict. We stand with them in hope for peace.

    “For the past three years, Ukrainians have shown incredible strength and resilience – they are not only fighting for their own freedom but also for the principles of sovereignty, democracy and international law.

    “Today, we think of our brothers and sisters in Chortkiv, Ukraine, a sister city of Whitehorse. I think back fondly to my meeting with Mayor Volodymyr Shmatko and his delegation of Chortkiv residents who visited the Yukon in 2023.

    “I want to acknowledge the hard work and dedication of members of the Ukrainian Canadian Association of Yukon, who have helped welcome Ukranian newcomers to the territory and have worked with Yukoners to collect and deliver medicines, supplies and supports to hospitals and other agencies in Ukraine. Their work is not just important – it is an example of the kindness, compassion and strength of all Yukoners.

    “Today – and every day – let us reaffirm our support for Ukraine and its right to remain free and independent. Ukraine’s fight is a fight for democracy everywhere. We honour those who have suffered and never forget the importance of standing together in the face of injustice.

    “Слава Україні! Героям Слава! Glory to Ukraine! Glory to the Heroes!”

    MIL OSI Canada News –

  • MIL-OSI Submissions: Environment – Invasive predators from the ocean: not only ships, but also many fish use the Panama Canal

    Source: Leibniz Institute of Freshwater Ecology and Inland Fisheries (IGB)

    The Panama Canal is a busy maritime route, with 14,000 ships passing through it every year. But this canal is also a potential pathway for the spread of non- native fishes from one ocean to another. 

    Researchers at the Leibniz Institute of Freshwater Ecology and Inland Fisheries (IGB), Freie Universität Berlin, Smithsonian Tropical Research Institute in Panama and Harvard University have now compared the fish communities of Lake Gatun in the Panama Canal aquatic corridor before and after the canal’s expansion in 2016. 

    Since the extensive structural changes to the canal’s lock system, significantly more marine fish species have entered the freshwater lake; they now make up 76 percent of the total biomass of the fish population and are primarily large predatory fishes. 

    As a result, the lake’s food web is changing and local fisheries are heavily impacted. There is also an increased risk that some species will pass through the canal and colonize the opposite ocean – with important ecological and evolutionary consequences.

    Maritime shipping is one of the most important introduction pathways for invasive species. Historically, species introductions through the Panama Canal have been relatively low, largely due to the existence of a soft barrier – the freshwater artificial Lake Gatun – inside the Canal. However, the 2016 expansion of the Panama Canal involved major structural changes to the canal’s lock system, which may have increased the likelihood that more marine fish species and greater numbers of them enter the lake and eventually cross the canal. This is because the new locks for the passage of mega-ships (called Neopanamax) are substantially larger than the old ones. So for every ship transit through the new locks, more freshwater flows into the sea, but also more seawater enters Lake Gatun – and therefore potentially more marine fishes.

    The research team compared the fish populations before (2013-2016) and after (2019-2023) the expansion of the canal. They used a unique long-term series of scientific standardized catch data on the number, biomass and spatial distribution of the fish community. “The Panama Canal has the potential to connect the marine biota of the Atlantic and Pacific Oceans, which have been separated for three million years. Before the canal’s expansion, this potential was relatively low. Now it looks that the permeability of the canal to interoceanic invasions is increasing after its expansion”, said Gustavo A. Castellanos-Galindo. He is one of the two lead authors of the study and a researcher at IGB, FU Berlin and the Smithsonian Tropical Research Institute.

    After the canal expansion: the proportion of marine fish species in total mass increased from 26 to 76 percent

    Since 2016, the composition of the fish community in Lake Gatun has significantly shifted from freshwater to marine fish species. Before the canal’s expansion, marine fishes made up only 26 percent of the total fish biomass; now they account for 76 percent. Of these species, 18 are originally from the Atlantic and five from the Pacific. Prior to 2016, around 57 percent of the biomass of the lake’s fish community consisted of non-native freshwater fishes, particularly the Peacock Bass (Cichla ocellaris var. monoculus) and the Nile Tilapia (Oreochromis niloticus), while native freshwater fishes made up 17 percent. After the expansion, native and non-native freshwater fish species make up only 11 and 13 percent of the total fish biomass, respectively.

    Large predatory fishes from the ocean change the food web and thus the fish stocks for local fisheries

    The researchers also looked at functional groups. These are groups of fish species that use environmental resources in a similar way. With this approach, the impact of the altered fish community on the ecosystem can be better assessed. The team found 15 new functional groups in the fish community of Lake Gatun following the canal’s expansion. The most representative group (by weight) are large pelagic predators, such as the Atlantic Tarpon (Megalops atlanticus). Conversely, eight groups from the pre-enlargement period are missing: they correspond mainly to native freshwater fish species, mostly small in size, that feed on detritus or are omnivores, for example Brycon petrosus. “The food web in Lake Gatun is being severely altered by the novel marine fish species. This has also important impacts on local fisheries”, said Prof. Jonathan Jeschke, co-author of the study and researcher at IGB and FU Berlin.

    Risk of interoceanic invasions

    The researchers also investigated the risk that these changes pose for possible interoceanic migrations. “The increase in marine organisms in this water corridor could represent a potential invasion in progress, increasing the likelihood that some species will pass through the canal and colonize the opposite ocean. Since most of these marine fish are apex predators with a broad niche range, their colonization of the Atlantic and Pacific is likely to alter ecological interactions and possibly lead to ecosystem-level changes”, said Gustavo A. Castellanos-Galindo.

    Publication:

    Gustavo A. Castellanos-Galindo, Diana M.T. Sharpe, D. Ross Robertson, Victor Bravo, Jonathan M. Jeschke, Mark E. Torchin, New fish migrations into the Panama Canal increase likelihood of interoceanic invasions in the Americas, Current Biology, 2025, ISSN 0960-9822, https://doi.org/10.1016/j.cub.2025.01.049

    Gustavo A. Castellanos-Galindo, IGB: https://www.igb-berlin.de/en/profile/gustavo-castellanos-galindo

    About the Leibniz Institute of Freshwater Ecology and Inland Fisheries (IGB):

    IGB is Germany’s largest and one of the leading international centres for freshwater research. It is also one of the oldest institutions in this field. The roots of the predecessor institutions can be traced back to the end of the 19th century. Today, science at IGB covers a wide range of disciplines – from hydrology, physics, geography, ecology and evolution to socio-ecology, from molecular biology to the study of entire ecosystems and catchments, and from microbial ecology to fish behaviour. 

    Our findings and methods provide an excellent basis to train young scientists and to promote an open knowledge exchange with society. Thus, we contribute to coping with ecological and societal challenges, such as the adaptation to global change, the conservation of aquatic biodiversity and the sustainable use and management of inland waters. https://www.igb-berlin.de/en/

    IGB Newsroom: https://www.igb-berlin.de/en/newsroom

    IGB Newsletter: https://www.igb-berlin.de/en/newsletter

    IGB at Bluesky: @leibnizigb.bsky.social 

    MIL OSI – Submitted News –

  • MIL-OSI Russia: Moscow Metro – Biometric payment in Moscow Transport to become even more accessible

    Source: Moscow Metro

    According to Maksim Liksutov, the Deputy Mayor of Moscow for Transport
    and Industry the facial recognition payment service will be operational at all metro turnstiles by the end of 2025. To expand the technology and maintain its high speed in station lobbies, additional Russian-made equipment will be installed.

    Biometrics at Moscow Metro.

    Paying with biometrics is:

    • Convenient. No need for cards, phones, or cash.
    • Cost-Effective. The lowest fares on public transport.
    • Secure. The system has bank-level security, and all data is encrypted.

    Biometric payment – the most convenient fare payment service. It is now available at all metro stations, the Moscow Central Circle, Aeroexpress, and regular river transport. Future plans include expanding the service to the Moscow Central Diameters and surface urban transport.

    Biometric payment has proven itself as a reliable and secure payment method.

    Nowhere else in the world is the service implemented on such a scale and with such convenience for passengers as in the capital. Since its launch, it has been used over 140 million times, with over 160,000 facial recognition passages made every business day. We are implementing the best domestic payment solutions in city transport, as instructed by the Mayor of Moscow, Sergey Sobyanin, — added Maksim Liksutov.

    MIL OSI Russia News –

  • MIL-OSI United Nations: Experts offer guidance on using the World Heritage Convention in support of the Kunming-Montreal Global Biodiversity Framework

    Source: United Nations

    UNESCO convened an expert meeting to identify actions to harness the World Heritage Convention in support of the Kunming-Montreal Global Biodiversity Framework. The meeting confirmed the relevance of the World Heritage Convention to almost all of the 23 global targets of the Global Biodiversity Framework and made recommendations for further action, which will be presented to the World Heritage Committee at its 47th session.

    The 2019 Global Assessment Report of Biodiversity and Ecosystem Services issued by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) provided the scientific evidence that biodiversity is deteriorating worldwide at rates unprecedented in human history. Yet, biodiversity is fundamental to human well-being, a healthy planet, and economic prosperity.

    The World Heritage Convention is among the most successful site-based conservation instruments, with a significant contribution to biodiversity conservation, according to a UNESCO study.

    The Kunming-Montreal Global Biodiversity Framework adopted by the Parties to the Convention on Biological Diversity is a real opportunity for the biodiversity conventions to work together. We should make use of the extraordinary capacity of the World Heritage Convention to support biodiversity conservation.

    In response to the Committee’s decisions 45 COM 7.2 and 46 COM 7, UNESCO organized in collaboration with the Advisory Bodies an expert meeting on the synergies and opportunities between the World Heritage Convention and the Kunming-Montreal Global Biodiversity Framework. The workshop was hosted by the German Federal Agency for Nature Conservation (Bundesamt für Naturschutz) at its International Academy for Nature Conservation on the Isle of Vilm, Germany, and took place from 25 to 29 November 2024.

    The meeting experts reaffirmed the unique contribution of the World Heritage Convention to the conservation and sustainable use of biodiversity, and the relevance of the Global Biodiversity Framework to both natural and cultural sites. They identified a range of recommendations for the World Heritage Committee, States Parties, and the UNESCO Secretariat and Advisory Bodies, including 19 priority actions.

    Among the key actions, States Parties should integrate priorities for the implementation of the World Heritage Convention into their National Biodiversity Strategies and Action Plans, as requested by the World Heritage Committee (Decision 45 COM 7.2). This is important to ensure that current World Heritage properties and potential new sites become an international priority for dedicated funding mechanisms for the Global Biodiversity Framework.

    The Global Biodiversity Framework also sets targets for respecting the rights of Indigenous Peoples and local communities in biodiversity conservation and provides new opportunities for cultural sites to contribute to nature conservation. States Parties, Indigenous Peoples and World Heritage properties can work with initiatives such as the Joint Programme of Work on the links between Biological and Cultural Diversity to support the implementation of the targets.

    World Heritage properties often overlap with other international designations such as Ramsar wetland sites, Biosphere Reserves and UNESCO Global Geoparks. In addition, the protection and management of World Heritage properties may be relevant to the implementation of other biodiversity- or culture-related conventions, such as the Convention for the Safeguarding of the Intangible Cultural Heritage, Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) and the Convention on Migratory Species (CMS). Improved cooperation between the Conventions and programmes could create greater coherence and have results at a larger scale.

    The meeting was made possible thanks to the support of the German Federal Agency for Nature Conservation, and the financial contributions of the Swiss Federal Office for Environment (FOEN) and the Government of Norway to the World Heritage Fund.

    About the Kunming-Montreal Global Biodiversity Framework

    The 15th Conference of the Parties to the Convention on Biological Diversity (CBD), convened under the auspices of the United Nations, adopted the Kunming-Montreal Global Biodiversity Framework. Through four goals and 23 targets, it sets out an ambitious plan to take urgent action to halt and reverse biodiversity loss to put nature on a path to recovery for the benefit of people and planet by 2030, in line with the 2030 Agenda for Sustainable Development, and to ensure that the shared vision of living in harmony with nature is realised by 2050.

    About the Joint Programme of Work on the links between Biological and Cultural Diversity

    The Joint Programme of Work (JPoW) on the links between Biological and Cultural Diversity was initially adopted at COP10 of the CBD in 2010 to explore the links and opportunities for improving the protection of biological and cultural diversity. It was a way for UNESCO to help connect the nature and culture themes under the Aichi Targets, in cooperation with the Secretariat of the CBD. Parties at COP15 renewed the mandate of the JPoW, including inviting UNESCO, the Secretariat of the CBD, the IUCN, the International Indigenous Forum on Biodiversity (IIFB) and advisory bodies to work together on a roadmap for improve an integrated approach to supporting biodiversity, linguistic and cultural diversity. UNESCO is currently the lead agency for the International Decade of Indigenous Languages (2022-2032), providing an important platform to achieve such cooperation in policy and in action. 

    Summary recommendations 

    English

    Meeting report 

    English

    MIL OSI United Nations News –

  • MIL-OSI New Zealand: Health – Mum needing essential heart scan faced life-threatening delays

    Source: Kia Manawanui Trust | The Heart of Aotearoa New Zealand

    A mum needing an essential heart scan was told she’d have to wait ten months – at the earliest – for an appointment.
    Māhina Ngāpō is battling stage three breast cancer and needs an echocardiogram every three months to ensure she can undergo life-saving treatment.
    But she was shocked when Wellington Hospital said there was no chance of that – and health experts say her case is all too common.
    The Heart of Aotearoa – Kia Manawanui Trust Medical Director Dr Sarah Fairley says Māhina needed to have this scan before her next round of treatment due to the potential long-term risk of harm to her heart.
    “I’m pleased we were able to advocate strongly and bring Mahina’s appointment forward, but, sadly, this isn’t always the case.”
    Luckily, Māhina’s story has a happy ending – but only after she fought the system alongside a cardiologist to make it happen sooner.
    “Honestly, I feel like one of the lucky ones,” Māhina says.
    “I couldn’t have started my radiation without having this scan, as my heart showed a small amount of damage at my last scan.
    “If I hadn’t been able to start my treatment because of the huge delays in New Zealand to have an echocardiogram, then who knows what that could have meant for me and my whānau?” the 42-year-old says.
    “My mindset is that advocating for yourself is the only way you will get the heart services you need, otherwise, you’ll get lost in the system.”
    Dr Fairley says the waitlist for a heart scan (echocardiogram) is out of control.
    The waitlist has ballooned to 10 months for a semi-urgent scan in some regions – the acceptable timeframe is 6 to 8 weeks, she says.
    “Patients like Māhina would not be put in the position of self-advocacy if we had a fully-staffed and appropriately resourced public healthcare system”.
    However, the echocardiogram issue is the tip of the iceberg, she says.
    “We are seeing these delays more and more throughout the system.”
    The Heart of Aotearoa – Kia Manawanui Trust Chief Executive Ms Letitia Harding says cases like Māhina’s show the pressure our heart health system is under.
    “It’s like Russian roulette with people’s lives because the system is severely underfunded, under-resourced, and under-staffed.
    “People shouldn’t have to wait in fear that they might not get an echocardiogram in time, with the very real possibility that they could die on the waitlist,” Ms Harding says.
    “That’s why The Heart of Aotearoa – Kia Manawanui Trust was established – to draw attention to the issues we face in the cardiology space.”
    Note: Māhina Ngāpō has started a Give-a-little page to help her raise funds for her healing journey: https://givealittle.co.nz/cause/please-help-mahina-grace-ngapo-heal-from-breast

    MIL OSI New Zealand News –

  • MIL-OSI USA: Sen. Billy Hickman to Celebrate Georgia Reads Day at State Capitol

    Source: US State of Georgia

    ATLANTA (February 24, 2025) — On Tuesday, February 25, at 12:00 p.m., Sen. Billy Hickman (R–Statesboro) will celebrate Georgia Reads Day with the Georgia Council on Literacy. Sen. Hickman will be joined by Georgia Reads Coach Malcolm Mitchell, Rep. Chris Erwin (R–Homer) and leadership from the Georgia Council on Literacy. The 2025 Georgia READBowl champions and the Georgia Reads Community Award winners will be recognized during the event.

    EVENT DETAILS:                      

    • Date: Tuesday, February 25, 2025
    • Time: 12:00 p.m.
    • Where: Georgia State Capitol, North Steps, 206 Washington St., Atlanta, GA 30334
    • This Event is Open to the Public.

    MEDIA OPPORTUNITIES:

    We kindly request that members of the media confirm their attendance in advance by contacting Jantz Womack at SenatePressInquiries@senate.ga.gov.

    More information on Georgia Reads can be found here.

    # # # #

    Sen. Billy Hickman serves as Chairman of the Senate Committee on Education and Youth. He represents the 4th Senate District which includes Bulloch, Candler, Effingham, and Evans County as well as a small portion of Chatham County. He may be reached at 404.463.1371 or by email at billy.hickman@senate.ga.gov

    MIL OSI USA News –

  • MIL-OSI USA: Hickenlooper, Bennet, Colleagues Reintroduce Bill to Combat Wildfires, Drought Across the West

    US Senate News:

    Source: United States Senator for Colorado John Hickenlooper
    Protect the West Act would invest $60 billion to reduce wildfire risks, restore watersheds, and protect communities
    WASHINGTON – Today, U.S. Senators John Hickenlooper, Michael Bennet, Ron Wyden, Ruben Gallego, and Jacky Rosen reintroduced the Protect the West Act, which invests $60 billion in forests across the West to reduce wildfire risk, restore watersheds, protect communities, and decrease the cost of fighting wildfires.
    “Colorado’s forests, grasslands, and waterways are the bedrock of our outdoor economy,” said Hickenlooper. “Every effort we make to prevent wildfires and mitigate the impact of climate change is an investment in Colorado’s future.”
    “In the West, our forests, grasslands, and watersheds are essential to our economy and way of life. But they are under threat from the worsening effects of climate change and consistent underinvestment from the federal government,” said Bennet. “As we face a 1,200-year megadrought and wildfire season that never seems to end, we need to break from the status quo and invest in the restoration of our forests and public lands to meet this challenge. We have no time to waste.”
    “Climate change is threatening our way of life in Colorado. We must act,” said Crow. “The Protect the West Act would help combat intensifying wildfires and help better protect Colorado communities.”
    “With summers getting dryer and hotter, the West and Oregon’s treasured lands are a tinderbox waiting to light ablaze,” said Wyden. “In my town halls, I’ve heard countless Oregonians fearing for their health and safety while struggling to maintain their economic livelihood as severe drought and wildfires wreak more havoc on their communities every year. More investments are needed to protect our forests and watersheds so local communities across the West are healthy and can have the opportunity to explore its beautiful natural treasures for generations.”
    “In Arizona and across the West, we face a rapidly growing backlog of projects for wildfire mitigation, drought resilience, and land restoration,” said Gallego. “I’m proud to help introduce the Protect the West Act which will finally give states and tribes the tools they need to take on these projects, all while creating good-paying jobs and boosting rural economies.”
    “Nevada’s forests and public lands are increasingly susceptible to wildfires, drought, and other extreme weather events. We need to do everything we can to protect our communities from the damage caused by these disasters and bolster our ability to recover,” said Rosen. “This critical legislation will support Nevada’s wildfire mitigation and restoration efforts, helping to keep Nevadans safe. I’ll always work to ensure Nevada has the resources it needs to fight wildfires and other weather-related events.”
    In the West, our strong outdoor rec industry and our agricultural communities depend on healthy lands, forests, and waterways. Increasingly frequent wildfires threaten those communities and our economy.
    Currently, the federal government spends approximately $2.9 billion to fight wildfires every year, with costs expected to increase by a billion by 2050. Already, the U.S. spent nearly $48 billion fighting wildfires over the last five years.
    Preventing wildfires before they even start is thirty times more cost-effective. Investing in fire mitigation and making our communities more resilient will save taxpayers money by reducing response and recovery costs.
    Specifically, the Protect the West Act would:
    Establish an Outdoor Restoration & Watershed Fund to better support local efforts to restore forests and watersheds, reduce wildfire risk, clean up public lands, enhance wildlife habitat, remove invasive species, and expand outdoor access
    Establish an advisory council of local, industry, conservation, Tribal, and national experts to advise funding priorities, coordinate with existing regional efforts, and provide oversight
    Empower local leaders by making $20 billion directly available to state and local governments, Tribes, special districts, and nonprofits to support restoration, drought resilience, and fire mitigation projects
    Partner with states and Tribes to invest $40 billion to tackle the backlog of restoration, fire mitigation, and resilience projects
    Create or sustain over two million good-paying jobs, primarily in rural areas, to support existing industries like forest product, agriculture, and outdoor recreation
    Save landowners and local governments money by investing in wildfire prevention and natural hazard mitigation.
    “The Protect the West Act is a significant investment in Colorado’s natural resources and Colorado is proud to support its reintroduction in the US Senate,” said Dan Gibbs, Executive Director, Colorado State Department of Natural Resources. “As Colorado experiences drought and continued threats from devastating wildfires, now is the time to invest in Colorado’s forests, watersheds, and landscapes that drive economic activity across the west, employ thousands of Americans, and provide environmental and ecological benefits to our communities and wildlife.”
    “One of the greatest threats to our Tribal lands are the devastating wildfires caused by the extreme drought conditions in the western United States,”said the Southern Ute Indian Tribe. “Sen. Bennet’s Protect the West Act will provide much needed investment in conservation, restoration and wildfire mitigation. A key component of this legislation is Sen. Bennet’s recognition of the importance that Tribes have in land use and regulation, assuring that funds will be made available directly to Tribes for maintenance of our forests, watersheds and rangeland. Moreover, he assures that Tribes will have a seat at the table in determining the distribution of funds, ensuring that there will be a tribal representative working alongside our state and federal partners on the Restoration Fund Advisory Council. We thank Sen. Bennet for introduction of this important legislation and look forward to its swift passage in Congress.”
    “Healthy watersheds face numerous challenges, including increasing drought, longer and hotter fire seasons, disconnected watersheds and degraded streams that no longer support healthy fisheries. The most effective way to tackle this challenge is through partnerships and collaborative conservation at the landscape scale,” said Chris Wood, President and CEO of Trout Unlimited. “The Protect the West Act would foster collaboration and provide resources for public-private partnerships to restore lands and waters across multiple jurisdictions, creating jobs and better fishing along the way. We thank Senator Bennet for his leadership and vision to restore our lands and waters at the scope and scale that will make a difference for future generations.”
    “The Colorado River District’s highest priority is to protect the water security of Western Colorado. Water security starts with our forests,” said Andy Mueller, General Manager, Colorado River District. “Our largest source of water is the snowpack that develops in our forests above 9,000 feet in elevation, mostly on federal lands. Sen. Michael Bennet’s $60 billion Protect the West Act proposal is a direct water security initiative through the funding of proactive watershed protection actions. These actions would help prevent catastrophic fires and start restoration work where warming temperatures and fires have already done harm. It’s noteworthy that $20 billion will be available to fund projects generated at the state and local levels. We applaud Senator Bennet for advocating for important western priorities in the Senate.”
     “I support the Senator’s Protect the West Act. This is a great first step in recognizing and acknowledging the problem that was created over 30 years ago,” said Merrit Linke, Grand County Commissioner. “The lack of proactive management and the ‘hands-off’ approach is now clearly having devastating effects on our communities, forest health and sustainable watersheds. This bill addresses this problem, provides much needed funding, and hopefully is the beginning of a new era in resource management. Now it is time to get to work.”
     “As Western communities continue to face the threats and the impacts of the climate crisis, now is the time to pursue initiatives that will help us become more resilient,” said Jon Goldin-Dubois, President of Western Resource Advocates. “The Protect the West Act will provide critical resources to help Western states mitigate wildfire, restore forests, improve air and water quality, and advance equity, all while pumping billions of dollars into local economies and supporting millions of good-paying jobs; it’s a true win-win. We applaud Senator Bennet for his leadership and look forward to supporting this legislation to build a more resilient West.”
    “Healthy forests support fish and wildlife habitat and outdoor access important to hunters, anglers, and recreationists in Colorado and across the nation,” said Joel Pedersen, CEO, Theodore Roosevelt Conservation Partnership. “However, decades of inadequate funding for forest management have placed a strain on the National Forest System that will require active management and sustained funding to increase workforce capacity. Further, these investments will help to ensure we’re better prepared to address the growing risks associated with wildfire.  The TRCP applauds the proactive investments in our forests and watersheds and the additional resources for growing the forest management workforce provided through the Protect the West Act.”
    The bill is supported by: The National Wildlife Federation, the Southern Ute Indian Tribe, National Association of State Foresters, The Freshwater Trust, American Forests, National Wild Turkey Federation, National Audubon Society, Family Farm Alliance, Theodore Roosevelt Conservation Partnership, Western Landowners Alliance, Western Resource Advocates, Trout Unlimited, and Conservation Legacy.
    U.S. Representative Jason Crow introduced companion legislation in the House.
    The full text of the bill is available HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal, Colleagues Urge Secretary Rubio To Restore Critical Global Health Programs To Keep Americans Safe

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the U.S. Senate Foreign Relations Committee, and Richard Blumenthal (D-Conn.) joined 19 of their Senate colleagues in sending a letter to U.S. Secretary of State Marco Rubio urging him to restore funding for global health, development, and humanitarian programs. In the wake of the Trump administration’s abrupt termination of key foreign assistance programs and personnel without review, the senators highlight the national security imperatives of U.S. global health efforts, which keep Americans safe, strengthen U.S. leadership, and increase global stability.

    “The Trump Administration’s freeze on foreign assistance and opaque waiver process, coupled with the attempted dismantling of the U.S. Agency for International Development (USAID) has significantly weakened our ability to respond to emergencies, left gaps in disease surveillance, and undermined global partnerships— leaving a vacuum that our adversaries are eager to fill,” the senators wrote.  

    Without American global health programs, current outbreaks of infectious diseases like Ebola, Marburg Virus, and Bird Flu have the potential for spreading to U.S. soil. According to the Centers for Disease Control and Prevention (CDC), an infectious disease can spread from a remote village to a major city in the United States in as little as 36 hours. Additionally, the foreign assistance funding freeze has stopped critical Malaria interventions before peak transmission and paused many clinical trials and data collection endeavors that require continuous data collection. As a result, product development for desperately needed drugs and vaccines have been brought to a halt. 

    “The U.S. cannot afford to withdraw from the global stage. Weak health systems in already fragile regions create opportunities for infectious disease to spread unchecked, for extremist groups to gain influence, and for adversaries to expand their reach,” they continued.

    The senators warned Secretary Rubio that Russian leaders have publicly praised the decision to dismantle USAID, an agency that helps counter China’s efforts to expand its Belt and Road Initiative in Africa and Latin America. Additionally, China is already stepping in to fill the vacuum left by the United States at the World Health Organization.  

    “We urge you to reverse the damaging personnel actions at USAID, and swiftly restart U.S. investments in global health, development, and humanitarian aid—not just as a moral obligation, but as part of the necessary strategy to protect America’s national security. In the meantime, there must be a clear process to achieve and implement waivers for these critical programs… Restoring these investments and the professional staff with training and skillsets to implement these life-saving programs will strengthen global health security, reinforce our leadership on the world stage, and make us safer at home,” the senators concluded.

    U.S. Senators Cory Booker (D-N.J.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Chris Coons (D-Del.), Martin Heinrich (D-N.M.), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), and Ron Wyden (D-Ore.) also signed the letter.

    Full text of the letter is available HERE and below:

    Dear Secretary Rubio,

    At a time when the world faces increasing instability—from disease outbreaks, to violent conflicts, to economic crises—U.S. investments in global health, development, and humanitarian aid are more than acts of goodwill; they are strategic imperatives contributing to our strength, security, and prosperity. Without strong and sustained U.S. leadership, American lives and economic stability is at risk.

    The Trump Administration’s freeze on foreign assistance and opaque waiver process, coupled with the attempted dismantling of the U.S. Agency for International Development (USAID) has significantly weakened our ability to respond to emergencies, left gaps in disease surveillance, and undermined global partnerships— leaving a vacuum that our adversaries are eager to fill.

    The freeze on global health activities is particularly troubling. There is resounding evidence that global health programs protect Americans. Recent history has shown that infectious disease outbreaks in distant regions can quickly reach U.S. soil, causing devastation to lives and livelihoods. According to the Centers for Disease Control and Prevention, a disease can spread from a remote village to a major city– including in the United States– in as little 36 hours. Such deadly diseases continue to emerge in countries which need assistance to respond. Consider the following examples:

    1. Ebola: Uganda is currently experiencing a deadly outbreak of Sudan Ebola virus in its capital city of Kampala, with a population of 1.9 million people. Suspected cases have also been reported in the Democratic Republic of the Congo. USAID and the Centers for Disease Control and Prevention (CDC) global health programs are critical to helping countries control and manage these outbreaks. The 2014-2016 West African Ebola outbreak spread beyond the region, with cases reaching the U.S. and Europe. American led investments in global health systems helped contain the crisis, prevented further transmission and strengthened global preparedness. Just within the last four years, USAID and CDC frontline health responders played critical roles in halting 11 similar outbreaks, but we are unaware of any USAID personnel having been deployed to Kampala to specifically respond to the outbreak. The Trump Administration’s retreat from these investments has left the world—and the U.S.—more vulnerable to future outbreaks.
    2. Marburg Virus: Tanzania recently confirmed an outbreak of Marburg virus—an illness as deadly as Ebola, but with less treatment and vaccine options. This deadly outbreak has highlighted the urgent need for disease surveillance and rapid response. The U.S. has long been a leader in these efforts, but the freeze on USAID has hindered our ability to detect and contain these threats before they become global crises.
    3. Malaria: While malaria may seem like a distant problem, it deeply affects regions where the U.S. has significant interests. The next few weeks, just before peak transmission, are critical for malaria prevention campaigns. Malaria is preventable, but if this particular window is missed, lives will be lost, most of whom will likely be children. The President’s Malaria Initiative (PMI) has reduced cases and deaths worldwide, fostering healthier, more productive societies and reducing the risk of political instability and migration crises. The halt in U.S. funding threatens decades of progress. According to Malaria No More, halting PMI programs for 90 days would prevent the delivery of approximately: 9 million insecticide-treated bed nets; 25.3 million rapid diagnostic tests for malaria; 15.6 million life-saving antimalarial treatments; 48 million doses of seasonal malaria chemoprevention; and safe, effective indoor residual spraying for 3.8 million people.
    4. Bird Flu: Bird flu has already caused one death in the U.S. and is currently circulating throughout America’s livestock. With the foreign aid freeze, the monitoring of bird flu effectively ends in 49 countries, leaving the U.S. in the dark regarding a pressing threat should the virus evolve or mutate to start spreading more rapidly among humans.
    5. PEPFAR: Though the waiver for certain PEPFAR activities is slowly being implemented, critical prevention services remain paused. Without access to pre-exposure prophylaxis (PrEP) and other prevention services, HIV transmission will increase, risking an upsurge of the disease across partner countries and undermining the more than $100 billion in U.S. investment contributed toward the HIV response to date.

    In addition, the foreign assistance funding freeze has paused many clinical trials and data collection endeavors that require continuous data collection. This will significantly delay the product development timelines for desperately needed drugs and vaccines. Clinical trials are now hanging on by a thread and will have to shut down soon if the pause is not lifted. This risks the health of the trial participants around the world and the lives in the U.S. and globally that could be saved thanks to the results of these trials. Furthermore, U.S. global health programs that treat, monitor, and prevent the spread of HIV/AIDS, Tuberculosis, Polio, and other infectious diseases are all vital to saving lives and keeping Americans safe.

    The U.S. cannot afford to withdraw from the global stage. Weak health systems in already fragile regions create opportunities for infectious disease to spread unchecked, for extremist groups to gain influence, and for adversaries to expand their reach. Already, Russian leaders have publicly applauded the decision to dismantle USAID, an agency that is also uniquely positioned to forestall China’s expansion of its Belt and Road Initiative in Africa and Latin America. China is already trying to fill the vacuum left by the United States at the World Health Organization when President Trump issued his intent to withdraw. Investing in foreign assistance, including global health and development programs, strengthens our alliances, promotes stability, and reduces the need for costly emergency interventions and military engagements.

    We urge you to reverse the damaging personnel actions at USAID, and swiftly restart U.S. investments in global health, development, and humanitarian aid—not just as a moral obligation, but as part of the necessary strategy to protect America’s national security. In the meantime, there must be a clear process to achieve and implement waivers for these critical programs. Nearly all USAID staff and critical implementing partners have been eliminated and payment systems are not functioning for the vast majority of implementers, rendering the waiver process irrelevant. Restoring these investments and the professional staff with training and skillsets to implement these life-saving programs will strengthen global health security, reinforce our leadership on the world stage, and make us safer at home. Sincerely,

    MIL OSI USA News –

  • MIL-OSI United Kingdom: There can be no equivalence between Russia and Ukraine in how this Council refers to this war: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Speech

    There can be no equivalence between Russia and Ukraine in how this Council refers to this war: UK statement at the UN Security Council

    Explanation of vote by Ambassador Barbara Woodward, UK Permanent Representative to the UN, following the vote on the UN Security Council Resolution 2774 on Ukraine.

    Today marks three years since Russia’s unprovoked full-scale invasion of Ukraine.

    Today, we remember the millions of Ukrainians displaced, the tens of thousands of civilians killed, the lives destroyed by President Putin’s imperial ambition.

    As the Secretary-General said again yesterday, this war is illegal, a clear violation of the UN Charter and a threat to the core principles of the UN.

    No-one wants peace more than Ukraine.  

    But the terms of that peace matter.  

    Only a just peace, one that honours the terms of our Charter, will endure. 

    And the terms of the peace must send a message that aggression does not pay.

    This is why there can be no equivalence between Russia and Ukraine in how this Council refers to this war.

    If we are to find a path to sustainable peace, the Council must be clear on the war’s origins.  

    We also owe it to the people of Ukraine who have suffered so much.  

    Russia chose to launch a war of aggression against a sovereign state, but again today is seeking to obfuscate that fact.  

    We must also insist on respect for the UN Charter, and Ukraine’s sovereignty and territorial integrity, within its internationally recognised borders.  

    Upholding the Charter is the responsibility of every member of the UN, and especially every member of this Council.  

    Every member. 

    What, how and on what terms this war ends can only be decided by negotiations with Ukraine.  

    No peace will be sustainable without Ukraine’s consent. 

    We regret that our proposals making these points clear were not taken on board, and as such we could not support this resolution. 

    But we share the ambition to find a lasting end to this war, supported by robust security arrangements that ensure Ukraine never again has to face Russia’s attack.

    As my Prime Minister has made clear – the UK remains ready to play its part.  

    We will continue to provide Ukraine with the support it needs to protect and defend itself and its people.

    We remind the Council that Russia could achieve this tomorrow – by ceasing its aggression and withdrawing its forces from all of Ukraine.

    Updates to this page

    Published 24 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Video: EU reaffirms unwavering support to Ukraine on anniversary of invasion

    Source: European Commission (video statements)

    Press Conference of the International Summit on the Support of Ukraine in Kyiv: The EU has provided almost €135 billion in support to Ukraine, including economic, military, financial, and humanitarian aid. It continues to work with international partners to ensure sustained support and hold Russia accountable.

    Hard-hitting sanctions have significantly weakened Russia’s economy and war capabilities. The EU is also working to ensure those responsible for war crimes face justice through the International Centre for the Prosecution of the Crime of Aggression against Ukraine in The Hague.
    Peace, reconstruction, and Ukraine’s European future

    Watch on the Audiovisual Portal of the European Commission: https://audiovisual.ec.europa.eu/en/video/I-268157
    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Check our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=ROExnWR2Re4

    MIL OSI Video –

  • MIL-OSI Security: Three-Time Convicted Felon Sentenced for Unlawful Possession of a Firearm

    Source: Office of United States Attorneys

                WASHINGTON — Devin Devaun, 26, of Washington D.C., was sentenced today in U.S. District Court to 30 months in federal prison for unlawful possession of a revolver and ammunition in December 2023 while he was on supervised release for two prior unlawful firearm possession convictions.

                The sentence was announced by U.S. Attorney Edward R. Martin, Jr. and Chief Pamela Smith of the Metropolitan Police Department (MPD).

                On November 15, 2024, during a stipulated facts bench trial, U.S. District Court Judge Tanya S. Chutkan found Devaun guilty of unlawful possession of a firearm and ammunition by a person convicted of a crime punishable by imprisonment for a term exceeding one year. In addition to imposing the 30-month prison sentence, Judge Chutkan ordered Devaun to serve three years of supervised release. 

               According to court documents, on December 17, 2023, members of the MPD’s Violent Crimes Suppression Division’s Robbery Suppression Unit were patrolling along the Georgia Avenue corridor in the 4th District based on a spree of robberies that had occurred there. The MPD issued a BOLO or a “be on the lookout for” with regard to one of these particular robberies.

               Around 12:10 a.m., the officers observed a group of at least four individuals jaywalking across Georgia Avenue NW at the intersection of Longfellow Street NW, whom the officers believed matched the description of the suspects in the BOLO. One of the officers observed that one of the individuals had a rectangular-shaped object protruding downward in his front groin area, inconsistent with human anatomy and not in a spot where people typically keep cell phones or other objects.

               As one of the officers approached that individual, the individual began looking from side to side as if he were attempting to look for an avenue of escape. That individual then took off running southbound on Georgia Avenue NW, tripping as he ran down the sidewalk. Two of the officers quickly caught up with him. The officers handcuffed the defendant, and as an officer patted the defendant down, the officer felt a hard object that he recognized as a firearm. At this point, the firearm had slid down the defendant’s right pants leg. A few minutes later, another officer cut a hole in the defendant’s right pants leg, removing a holstered .357 caliber revolver loaded with six rounds.

                The defendant was prohibited from possessing a firearm based on three previous felony convictions: a 2016 robbery conviction, a 2017 conviction for unlawful possession of a firearm, and a 2021 felon conviction for unlawful possession of a firearm.

               This case was investigated by the MPD’s Violent Crimes Suppression Division’s Robbery Suppression Unit. It is being prosecuted by Special Assistant U.S. Attorney Monica Svetoslavov. Valuable assistance was provided by former Assistant U.S. Attorney Kyle Mirabelli.

    24cr44

    MIL Security OSI –

  • MIL-OSI Global: Francis − a pope who has cared deeply for the poor and opened up the Catholic Church

    Source: The Conversation – USA – By Mathew Schmalz, Professor of Religious Studies, College of the Holy Cross

    Pope Francis during the Palm Sunday Mass at St. Peter’s Square on April 2, 2023, in Vatican City. Antonio Masiello/Getty Images

    Pope Francis, who remains in critical condition and hospitalized as he battles pneumonia in both lungs, was elected pope on March 13, 2013, after the surprise resignation of Benedict XVI.

    Prior to becoming pope, he was Jorge Mario Bergoglio, archbishop of Buenos Aires, and was the first person from the Americas to be elected to the papacy. He was also the first pope to choose Francis as his name, thus honoring St. Francis of Assisi, a 13th-century mystic whose love for nature and the poor have inspired Catholics and non-Catholics alike.

    Pope Francis chose not to wear the elaborate clothing, like red shoes or silk vestments, associated with other popes. As a scholar of global Catholicism, however, I would argue that the changes Francis brought to the papacy were more than skin deep. He opened the church to the outside world in ways none of his predecessors had done before.

    Care for the marginalized

    Pope Francis reached out personally to the poor. For example, he turned a Vatican plaza into a refuge for the homeless, whom he called “nobles of the street.”

    The Argentinian Jorge Mario Bergoglio, ordained for the Jesuits in 1969 at the Theological Faculty of San Miguel.
    Jesuit General Curia via Getty Images

    He washed the feet of migrants and prisoners during the traditional foot-washing ceremony on the Thursday before Easter. In an unprecedented act for a pope, he also washed the feet of non-Christians.

    He encouraged a more welcoming attitude toward gay and lesbian Catholics and invited transgender people to meet with him at the Vatican.

    On other contentious issues, Francis reaffirmed official Catholic positions. He labeled homosexual behavior a “sin,” although he also stated that it should not be considered a crime. Francis criticized gender theory for “blurring” differences between men and women.

    While he maintained the church’s position that all priests should be male, he made far-reaching changes that opened various leadership roles to women. Francis was the first pope to appoint a woman to head an administrative office at the Vatican. Also for the first time, women were included in the 70-member body that selects bishops and the 15-member council that oversees Vatican finances. Shortly before his death, he appointed an Italian nun, Sister Raffaella Petrini, as President of the Vatican City.

    Pope Francis in St. Peter’s Square on April 18, 2022.
    Stefano Spaziani/Mondadori Portfolio via Getty Images

    Not shy of controversy

    Some of Francis’ positions led to opposition in some Catholic circles.

    One such issue was related to Francis’ embrace of religious diversity. Delivering an address at the Seventh Congress of Leaders of World and Traditional Religions in Kazakhstan in 2022, he said that members of the world’s different religions were “children of the same heaven.”

    While in Morocco, he spoke out against conversion as a mission, saying to the Catholic community that they should live “in brotherhood with other faiths.” To some of his critics, however, such statements undermined the unique truth of Christianity.

    During his tenure, the pope called for “synodality,” a more democratic approach to decision making. For example, synod meetings in November 2023 included laypeople and women as voting members. But the synod was resisted by some bishops who feared it would lessen the importance of priests as teachers and leaders.

    In a significant move that will influence the choosing of his successor, Pope Francis appointed more cardinals from the Global South. But not all Catholic leaders in the Global South followed his lead on doctrine. For example, African bishops publicly criticized Pope Francis’ December 2023 ruling that allowed blessings of individuals in same sex couples.

    His most controversial move was limiting the celebration of the Mass in the older form that uses Latin. This reversed a decision made by Benedict XVI that allowed the Latin Mass to be more widely practiced.

    Traditionalists argued that the Latin Mass was an important – and beautiful – part of the Catholic tradition. But Francis believed that it had divided Catholics into separate groups who worshiped differently.

    This concern for Catholic unity also led him to discipline two American critics of his reforms, Bishop Joseph Strickland of Tyler, Texas, and Cardinal Raymond Burke. Most significantly, Carlo Maria Viganò, the former Vatican ambassador, or nuncio, to the United States was excommunicated during Francis’ tenure for promoting “schism.”

    In the last days of his pontificate, Pope Francis also criticized the Trump administration’s efforts to deport migrants. In a letter to US Bishops, he recalled that Jesus, Mary and Joseph had been emigrants and refugees in Egypt. Pope Francis also argued that migrants who enter a country illegally should not be treated as criminals because they are in need and have dignity as human beings.

    Writings on ‘the common good’

    In his official papal letters, called encyclicals, Francis echoed his public actions by emphasizing the “common good,” or the rights and responsibilities necessary for human flourishing.

    Pope Francis washes the foot of a man during the foot-washing ritual at a refugee center outside of Rome on March 24, 2016.
    L’Osservatore Romano/Pool Photo via AP

    His first encyclical in 2013, Lumen Fidei, or “The Light of Faith,” sets out to show how faith can unite people everywhere.

    In his next encyclical, Laudato Si’, or “Praise Be to You,” Francis addressed the environmental crisis, including pollution and climate change. He also called attention to unequal distribution of wealth and called for an “integral ecology” that respects both human beings and the environment.

    His third encyclical in 2020, Fratelli Tutti, or “Brothers All,” criticized a “throwaway culture” that discards human beings, especially the poor, the unborn and the elderly. In a significant act for the head of the Catholic Church, Francis concluded by speaking of non-Catholics who have inspired him: Martin Luther King Jr., Desmond Tutu and Mahatma Gandhi.

    In his last encyclical, Dilexit Nos, or “He Loved Us,” he reflected on God’s Love through meditating on the symbol of the Sacred Heart that depicts flames of love coming from Jesus’ wounded heart that was pierced during the crucifixion.

    Francis also proclaimed a special “year of mercy” in 2015-16. The pope consistently argued for a culture of mercy that reflects the love of Jesus Christ, calling him “the face of God’s mercy.”

    A historic papacy

    Francis’ papacy has been historic. He embraced the marginalized in ways that no pope had done before. He not only deepened the Catholic Church’s commitment to the poor in its religious life but also expanded who is included in its decision making.

    The pope did have his critics who thought he went too far, too fast. And whether his reforms take root depends on his successor. Among many things, Francis will be remembered for how his pontificate represented a shift in power in the Catholic Church away from Western Europe to the Global South, where the majority of Catholics now live.

    Mathew Schmalz is Roman Catholic and a political independent.

    – ref. Francis − a pope who has cared deeply for the poor and opened up the Catholic Church – https://theconversation.com/francis-a-pope-who-has-cared-deeply-for-the-poor-and-opened-up-the-catholic-church-164362

    MIL OSI – Global Reports –

  • MIL-OSI Security: Defense News: Mission And Purpose On Full Display As Truman Returns To Sea

    Source: United States Navy

    “Our ship remains operationally ready to complete deployment with mission and purpose on full display by the entire crew,” said Capt. Chris Hill, commanding officer of Harry S. Truman. “We are out here launching and recovering aircraft, ready to ‘Give ‘em Hell’ with combat credible power.”

    The U.S. Navy’s ability to rapidly repair its warships anywhere in the world is a testament to our lethality and the warfighting advantage of relationships with Allies and partners.

    Led by Forward Deployed Regional Maintenance Center (FDRMC), Truman completed the five-day ERAV at Naval Support Activity (NSA) Souda Bay, Greece. In an all-hands effort, Sailors worked with FDRMC personnel, Norfolk Naval Shipyard, and local industry partner Theodoropoulos Group to assess damage, develop a repair plan, and restore weathertight integrity to the ship following the collision on Feb. 12.

    “FDRMC is focused on keeping our forward-deployed naval forces mission-ready across 5th and 6th Fleets, maintaining critical combat readiness for the ships and their Sailors,” said Capt. Mollie Bily, FDRMC commanding officer. “The rapid repair effort on Truman was a testament to our expeditionary maintenance expertise and the exceptional collaboration with our Norfolk Naval Shipyard teammates and industry partners.”

    Since deploying, Carrier Air Wing (CVW) 1 has flown over 5,500 sorties, including two self-defense strikes into Houthi-controlled Yemen territory and a large force strike against ISIS-Somalia targets in Northeast Somalia in coordination with U.S. Africa Command. The Harry S. Truman Carrier Strike Group continues to provide maritime security and regional stability in support of its component commanders.

    The carrier strike group includes the flagship USS Harry S. Truman (CVN 75); Carrier Air Wing (CVW) 1, with eight embarked aviation squadrons; staffs from CSG-8, CVW-1, and Destroyer Squadron (DESRON) 28; the Ticonderoga-class guided-missile cruiser USS Gettysburg (CG 64); and three Arleigh Burke-class guided-missile destroyers, USS Stout (DDG 55), USS The Sullivans (DDG 68), and USS Jason Dunham (DDG 109).

    HSTCSG’s mission is to conduct prompt and sustained combat operations at sea and maintain a forward presence through sea control and power projection capabilities. For more information, visit DVIDS at https://www.dvidshub.net/unit/CVN75.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Council agrees extra funding for vital care services in 2025/26 budget

    Source: City of Plymouth

    An annual budget that injects more than £30 million of additional funding to meet ongoing cost and demand pressures in essential social care and homelessness services has been agreed by Plymouth City Council. 

    The additional funds have been included in the £253.4 million revenue budget for 2025/26 approved by at the Full Council meeting on Monday (24 February). 

    Council Leader Tudor Evans said: “Despite the huge financial challenges we continue to face, we have not only managed to balance the books but also delivered a budget that remains hugely ambitious for growing Plymouth’s prosperity and delivering what Plymouth residents say matters most – creating jobs, more affordable housing, improving health, increasing safety and most importantly, supporting the elderly and protecting the most vulnerable children in Plymouth. 

    “It is also a budget that protects and enhances valued services such as libraries, grass cutting, street cleansing and repairing our roads and pavements.  

    “This is a budget that allow Plymouth to continue to do remarkable things in difficult circumstances.” 

    The additional funding includes £16 million additional funding for protecting vulnerable children, £2 million for school transport for children with a Special Education Needs and Disability (SEND), £12 million for adult social care and £724,000 to support the homeless. 

    An extra £770,000 has also been allocated to help reduce the Education Health and Care Plan (EHCP) waiting list. 

    The additional funding means that 83 per centof the Council’s total revenue budget is now spent on social care services. 

    The 2025/26 budget also maintains a £300,000 uplift in the grass cutting budget and an additional £425,000 to increase the staff resource in the Street Services team, which manages grass cutting, street cleansing and waste collection services. 

    It also includes an additional £250,000 to support funding the Council’s Net Zero commitment, an extra £141,000 to support the Council’s leisure provider Plymouth Active Leisure and £226,000 to support foster carers with an additional allowance. 

    To deliver a balanced budget the Council needs to continue to transform how it operates to increase efficiency and reduce cost. The agreed budget requires that a total of £9.6 million savings need to be delivered by all Council departments.  

    They include £3.1 million of savings plans through the ongoing transformation of Children’s Services and £2.7 million of savings in the Adults, Health and Communities directorate through its modernisation plans and contract savings.  

    To support the budget a Council Tax increase of 2.99 per cent and a two per cent precept to support adult social care services was agreed.  

    The full council also agreed a capital programme of £395.8 million for 2024/25 to 2028/29. 

    This includes funding for the transport improvement schemes, such as the Woolwell to The George scheme; the rail station regeneration scheme; investment in housing projects and tackling homelessness; projects delivering the city’s net zero ambitions; introducing zero emission buses; delivering Plymouth and South Devon Freeport, the Armada Way regeneration scheme; highway maintenance, drainage and essential engineering projects; and the regeneration of key waterfront assets such as Tinside Lido through the Plymouth Sound National Marine Park. 

    MIL OSI United Kingdom –

  • MIL-OSI: Kneat to Announce 2024 Fourth-Quarter and Full-Year Financial Results February 26, 2025

    Source: GlobeNewswire (MIL-OSI)

    LIMERICK, Ireland, Feb. 24, 2025 (GLOBE NEWSWIRE) — kneat.com, inc. (TSX: KSI) (OTC: KSIOF) (“Kneat” or the “Company”) a leader in digitizing and automating validation and quality processes, announced today that the Company will release its financial results for the quarter ended December 31, 2024, after TSX market close on February 26, 2025.

    Eddie Ryan, Chief Executive Officer and Hugh Kavanagh, Chief Financial Officer, will host a conference call and Q&A for sell side analysts via webcast on February 27, 2025 at 09:00 ET (14:00 GMT).

    Interested parties can register for the live webcast via the following link:

    Register Here

    The fourth-quarter financial results will be available from the Financial Information section of the Investors page on the Kneat Solutions website, at: https://kneat.com/investors/ 

    About Kneat
    Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show a 40% or more reduction in validation cycle times, nearly 20% faster speed to market, and 80% reduced changeover time. For more information visit www.kneat.com.

    For further information:

    Katie Keita, Investor Relations Lead, +902-706-9074, katie.keita@kneat.com

    The MIL Network –

  • MIL-OSI United Kingdom: A peace that rewards aggression is not real peace: UK Statement in the UN General Assembly

    Source: United Kingdom – Executive Government & Departments

    Speech

    A peace that rewards aggression is not real peace: UK Statement in the UN General Assembly

    Explanation of vote by Ambassador Barbara Woodward, UK Permanent Representative to the UN, in the UN General Assembly Emergency Special Session on Ukraine.

    The United Kingdom welcomes the resumption of this Special Session on Ukraine.

    Three years on, Russia’s illegal and unprovoked invasion has caused untold suffering, most recently in the massive wave of drone attacks over the weekend, reportedly the largest in a single night in three years.

    Millions of Ukrainians have fled their homes, tens of thousands of civilians have been killed.

    Children forcibly deported. 

    Schools, homes, hospitals, places of worship destroyed.  

    And Russia’s forces have committed the most appalling crimes – summary executions, torture, rape.

    Enough is enough, as the Secretary-General reminded us.

    Russia’s aggression did not begin three years ago, but long before that. 

    When my Prime Minister spoke to President Zelenskyy this week, he was clear that any outcome to the war must safeguard Ukraine’s sovereignty and territorial integrity. 

    A peace that rewards aggression is not a real peace.

    And a peace that rewards aggression will not last.

    Because Putin has a long track record of making deals with his fingers crossed behind his back.   

    Well, not this time.

    We must not make the mistake of weak deals of the past. 

    This time, there must be peace through strength.

    And that is why there can be no negotiations about Ukraine, without Ukraine.

    Colleagues, it is not just Ukraine’s security that is at stake.  

    It is Britain’s too.  

    But it is the security of all of us.  

    Every single Member State who does not want to see tanks driving over their border, killing their people, stealing their children and redrawing their borders on a whim.

    Today 93 countries again stood with Ukraine, voting to reaffirm our respect for Ukraine’s sovereignty and territorial integrity, and for the UN Charter.

    We all want an end to this war.

    No country more so than Ukraine and its people.

    As my Prime Minister has said, the UK is ready to play its part to support efforts for peace.  

    We will continue to support Ukraine to defend itself and to have its voice heard.

    But let us not forget a simple truth: that Russia could end this war tomorrow, by ceasing its aggression and withdrawing its forces from Ukraine.

    But the Kremlin shows no more sign of that than they have done at any point in the last three years.

    So today, as for the last three years and for the future, we stand shoulder to shoulder with Ukraine and with our allies for as long as it takes.

    Until Ukraine wins a peace that respects the UN Charter and delivers a secure future for its people and for all of us.

    Updates to this page

    Published 24 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Reports Fourth Quarter and Full Year 2024 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, Feb. 24, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc., (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the fourth quarter and full year ended December 31, 2024.

    FOURTH QUARTER HIGHLIGHTS

    • Q4 2024 average production of 29,859 bo/d (56,109 boe/d)
    • Q4 2024 consolidated net income (including non-controlling interest) of $272.8 million; net income attributable to Viper of $210.1 million, or $2.04 per Class A common share; includes a one-time tax benefit of $155.9 million from the reversal of the valuation allowance against the Company’s deferred tax assets
    • Q4 2024 cash available for distribution to Viper’s Class A common shares (as defined and reconciled below) of $89.0 million, or $0.86 per Class A common share
    • As previously announced, declared Q4 2024 base cash dividend of $0.30 per Class A common share; implies a 2.5% annualized yield based on the February 21, 2025, share closing price of $48.33
    • As previously announced, declared Q4 2024 variable cash dividend of $0.35 per Class A common share; total base-plus-variable dividend of $0.65 per Class A common share implies a 5.4% annualized yield based on the February 21, 2025, share closing price of $48.33
    • Total Q4 2024 return of capital of $66.7 million, or $0.65 per Class A common share, represents 75% of cash available for distribution
    • 381 total gross (8.1 net 100% royalty interest) horizontal wells turned to production on Viper’s acreage during Q4 2024 with an average lateral length of 10,818 feet

    FULL YEAR 2024 HIGHLIGHTS

    • Full year 2024 average production of 27,156 bo/d (49,784 boe/d)
    • Received $6.2 million in lease bonus income
    • Full year 2024 consolidated net income (including non-controlling interest) of $603.6 million; net income attributable to Viper of $359.2 million, or $3.82 per Class A common share
    • Declared dividends of $2.49 per Class A common share during the full year 2024
    • Generated full year 2024 consolidated adjusted EBITDA (as defined and reconciled below) of $782.2 million
    • Proved reserves as of December 31, 2024 of 195,873 Mboe (84% PDP, 93,563 Mbo), up 9% year over year with oil up 4% from year end 2023
    • 1,461 total gross (27.9 net 100% royalty interest) horizontal wells turned to production on Viper’s acreage during 2024 with an average lateral length of 11,381 feet

    2025 OUTLOOK

    • As previously announced, on January 30, 2025, entered into a definitive purchase and sale agreement to acquire all of the equity interests of certain mineral and royalty interest owning subsidiaries of Diamondback in exchange for $1.0 billion of cash and approximately 69.63 million limited liability company membership interests of Viper Energy Partners LLC (“OpCo units”), along with an accompanying equal amount of Class B common stock of the Company, subject to customary closing adjustments (the “Drop Down”); expected to close in the second quarter of 2025, subject to the approval by Viper’s stockholders and clearance of other typical closing conditions
    • On February 14, 2025, closed the acquisition of certain mineral and royalty interests from Morita Ranches Minerals LLC in exchange for approximately $211.0 million of cash and approximately 2.40 million OpCo units (along with an accompanying equal amount of Class B common stock of the Company), subject to customary post-closing adjustments (the “Quinn Ranch Acquisition”)
    • Initiating average daily production guidance for Q1 2025 of 30,000 to 31,000 bo/d (54,000 to 56,000 boe/d)
    • Upon the assumed closing of the Drop Down during Q2 2025, expect average daily production for the balance of 2025 in the range of 47,000 to 49,000 bo/d (85,000 to 88,000) boe/d
    • As of December 31, 2024, there were approximately 867 gross horizontal wells in the process of active development on Viper’s acreage in which Viper expects to own an average 1.6% net royalty interest (14.1 net 100% royalty interest wells)
    • Approximately 1,191 gross (23.9 net 100% royalty interest) line-of-sight wells on Viper’s acreage that are not currently in the process of active development, but for which Viper has visibility to the potential of future development in coming quarters, based on Diamondback’s current completion schedule and third-party operators’ permits

    “The fourth quarter concluded a landmark year for Viper. For the full year, we continued to deliver strong organic production growth on our legacy assets and successfully executed on our differentiated acquisition strategy. Looking ahead, we continue to be excited about the transformative Drop Down transaction between Viper and Diamondback that was previously announced. We look forward to working toward a timely closing of the transaction and the unmatched forward outlook Viper will be provided upon that closing,” stated Kaes Van’t Hof, Chief Executive Officer of Viper.

    FINANCIAL UPDATE

    Viper’s fourth quarter 2024 average unhedged realized prices were $69.91 per barrel of oil, $0.84 per Mcf of natural gas and $22.15 per barrel of natural gas liquids, resulting in a total equivalent realized price of $43.56/boe.

    Viper’s fourth quarter 2024 average hedged realized prices were $69.00 per barrel of oil, $1.05 per Mcf of natural gas and $22.15 per barrel of natural gas liquids, resulting in a total equivalent realized price of $43.38/boe.

    During the fourth quarter of 2024, the Company recorded total operating income of $228.7 million and consolidated net income (including non-controlling interest) of $272.8 million. During the quarter, the Company reversed the valuation allowance against its deferred tax assets as of the quarter and year ended December 31, 2024, with an accompanying $155.9 million deferred tax benefit recorded through continuing operations.

    As of December 31, 2024, the Company had a cash balance of $26.9 million and total long-term debt outstanding (excluding debt issuance costs, discounts and premiums) of $1.1 billion, resulting in net debt (as defined and reconciled below) of $1.1 billion. Viper’s outstanding long-term debt as of December 31, 2024 consisted of $430.4 million in aggregate principal amount of its 5.375% Senior Notes due 2027, $400.0 million in aggregate principal amount of its 7.375% Senior Notes due 2031 and $261.0 million in borrowings on its revolving credit facility, leaving $989.0 million available for future borrowings and $1.0 billion of total liquidity.

    FOURTH QUARTER 2024 CASH DIVIDEND & CAPITAL RETURN PROGRAM

    As previously announced, the Board of Directors (the “Board”) of Viper Energy, Inc., declared a base dividend of $0.30 per Class A common share for the fourth quarter of 2024 payable on March 13, 2025 to Class A common shareholders of record at the close of business on March 6, 2025.

    The Board also declared a variable cash dividend of $0.35 per Class A common share for the fourth quarter of 2024 payable on March 13, 2025 to Class A common shareholders of record at the close of business on March 6, 2025.

    OPERATIONS UPDATE

    During the fourth quarter of 2024, Viper estimates that 381 gross (8.1 net 100% royalty interest) horizontal wells with an average royalty interest of 2.1% were turned to production on its acreage position with an average lateral length of 10,818 feet. Of these 381 gross wells, Diamondback is the operator of 88 gross wells, with an average royalty interest of 6.4%, and the remaining 293 gross wells, with an average royalty interest of 0.9%, are operated by third parties.

    Viper’s footprint of mineral and royalty interests was 35,671 net royalty acres as of December 31, 2024.

    Our gross well information as of December 31, 2024 is as follows, unless otherwise specified:

      Diamondback Operated   Third-Party Operated   Total
    Horizontal wells turned to production (fourth quarter 2024)(1):          
    Gross wells 88   293   381
    Net 100% royalty interest wells 5.6   2.5   8.1
    Average percent net royalty interest 6.4%   0.9%   2.1%
               
    Horizontal wells turned to production (year ended December 31, 2024)(2):          
    Gross wells 285   1,176   1,461
    Net 100% royalty interest wells 16.0   11.9   27.9
    Average percent net royalty interest 5.6%   1.0%   1.9%
               
    Horizontal producing well count:          
    Gross wells 2,898   8,161   11,059
    Net 100% royalty interest wells 156.3   104.1   260.4
    Average percent net royalty interest 5.4%   1.3%   2.4%
               
    Horizontal active development well count:          
    Gross wells 146   721   867
    Net 100% royalty interest wells 6.0   8.1   14.1
    Average percent net royalty interest 4.1%   1.1%   1.6%
               
    Line of sight wells:          
    Gross wells 324   867   1,191
    Net 100% royalty interest wells 10.1   13.8   23.9
    Average percent net royalty interest 3.1%   1.6%   2.0%

    (1) Average lateral length of 10,818 feet.
    (2) Average lateral length of 11,381 feet.

    The 867 gross wells currently in the process of active development are those wells that have been spud and are expected to be turned to production within approximately the next six to eight months. Further in regard to the active development on Viper’s asset base, there are currently 54 gross rigs operating on Viper’s acreage, 10 of which are operated by Diamondback. The 1,191 line-of-sight wells are those that are not currently in the process of active development, but for which Viper has reason to believe that they will be turned to production within approximately the next 15 to 18 months. The expected timing of these line-of-sight wells is based primarily on permitting by third-party operators or Diamondback’s current expected completion schedule. Existing permits or active development of Viper’s royalty acreage does not ensure that those wells will be turned to production.

    YEAR END RESERVES UPDATE

    Viper’s proved oil and natural gas reserve estimates and their associated future net cash flows were prepared by Viper’s internal reservoir engineers, and audited by Ryder Scott Company, L.P., independent petroleum engineers, as of December 31, 2024. Reference prices of $75.48 per barrel of oil and natural gas liquids and $2.13 per MMbtu of natural gas were used in accordance with applicable rules of the Securities and Exchange Commission. Realized prices with applicable differentials were $75.61 per barrel of oil, $0.49 per Mcf of natural gas and $20.62 per barrel of natural gas liquids.

    Proved reserves at year-end 2024 of 195,873 Mboe (93,563 Mbo) represent a 9% increase over year-end 2023 reserves. The year-end 2024 proved reserves have a PV-10 value (as defined and reconciled below) of approximately $3.7 billion and a standardized measure of discounted future net cash flows of $3.3 billion.

    Proved developed reserves increased by 14% year over year to 163,865 Mboe (76,020 Mbo) as of December 31, 2024, reflecting continued horizontal development by the operators of Viper’s acreage.

    Net proved reserve additions of 34,845 Mboe resulted in a reserve replacement ratio of 191% (defined as the sum of extensions, discoveries, revisions, purchases and divestitures, divided by annual production). The organic reserve replacement ratio was 121% (defined as the sum of extensions, discoveries and revisions, divided by annual production).

    Extensions and discoveries of 24,936 Mboe are primarily attributable to the drilling of 1,170 new wells and from 447 new proved undeveloped locations added. The Company’s total downward revisions of previous estimated quantities of 2,894 Mboe consist of negative revisions of 6,539 Mboe associated with lower commodity prices and PUD downgrades of 2,936 Mboe offset by positive revisions of 6,580 Mboe primarily attributable to performance revisions. The purchase of reserves in place of 14,941 Mboe resulted primarily from the previously reported Tumbleweed acquisitions and other acquisitions of certain mineral and royalty interests.

      Oil (MBbls)   Gas (MMcf)   Liquids (MBbls)   Mboe
    As of December 31, 2023 89,903     263,578     45,416     179,249  
    Purchase of reserves in place 7,891     20,310     3,665     14,941  
    Extensions and discoveries 13,099     33,498     6,254     24,936  
    Revisions of previous estimates (6,472 )   4,449     2,837     (2,894 )
    Divestitures (919 )   (4,605 )   (451 )   (2,138 )
    Production (9,939 )   (24,606 )   (4,181 )   (18,221 )
    As of December 31, 2024 93,563     292,624     53,540     195,873  
                           

    As the owner of mineral and royalty interests, Viper incurred no exploration and development costs during the year ended December 31, 2024.

      December 31,
      2024
    		   2023
    		   2022
      (in thousands)
    Acquisition costs:          
    Proved properties $ 340,907     $ 402,659     $ 46,307  
    Unproved properties   830,450       758,342       16,624  
    Total $ 1,171,357     $ 1,161,001     $ 62,931  
                           

    GUIDANCE UPDATE

    Below is Viper’s guidance for Q1 2025. Guidance for full year 2025 will be provided pending the closing of the Drop Down.

       
      Viper Energy, Inc.
       
    Q1 2025 Net Production – Mbo/d 30.00 – 31.00
    Q1 2025 Net Production – Mboe/d 54.00 – 56.00
       
    Unit costs ($/boe)  
    Depletion $12.25 – $12.75
    Cash G&A $0.80 – $1.00
    Non-Cash Share-Based Compensation $0.10 – $0.20
    Net Interest Expense $2.50 – $3.00
       
    Production and Ad Valorem Taxes (% of Revenue) ~7%
    Cash Tax Rate (% of Pre-Tax Income Attributable to Viper Energy, Inc.)(1) 20% – 22%
    Q1 2025 Cash Taxes ($ – million)(2) $15.0 – $20.0

    (1)   Pre-tax income attributable to Viper Energy, Inc. is reconciled below.
    (2)   Attributable to Viper Energy, Inc.

    CONFERENCE CALL

    Viper will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 10:00 a.m. CT. Access to the live audio-only webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Viper’s website at www.viperenergy.com under the “Investor Relations” section of the site.

    About Viper Energy, Inc.

    Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. For more information, please visit www.viperenergy.com.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, returns, cash flow, and financial position; production levels on properties in which Viper has mineral and royalty interests, developmental activity by other operators; reserve estimates and Viper’s ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the pending Drop Down and other acquisitions or divestitures); and plans and objectives (including Diamondback’s plans for developing Viper’s acreage and Viper’s cash dividend policy and common stock repurchase program) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond its control. Accordingly, forward-looking statements are not guarantees of Viper’s future performance and the actual outcomes could differ materially from what Viper expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases, and any related company or government policies or actions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial sector; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production on Viper’s mineral and royalty acreage, or governmental orders, rules or regulations that impose production limits on such acreage; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change and the risks and other factors disclosed in Viper’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the Securities and Exchange Commission’s web site at http://www.sec.gov.

    In light of these factors, the events anticipated by Viper’s forward-looking statements may not occur at the time anticipated or at all. Moreover, new risks emerge from time to time. Viper cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements made in this news release. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Viper does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

     
    Viper Energy, Inc.
    Consolidated Balance Sheets
    (unaudited, in thousands, except share amounts)
           
      December 31,
      2024   2023
    Assets      
    Current assets:      
    Cash and cash equivalents $ 26,851     $ 25,869  
    Royalty income receivable (net of allowance for credit losses)   149,234       108,681  
    Royalty income receivable—related party   30,971       3,329  
    Income tax receivable   2,238       813  
    Derivative instruments   17,638       358  
    Prepaid expenses and other current assets   11,112       4,467  
    Total current assets   238,044       143,517  
    Property:      
    Oil and natural gas interests, full cost method of accounting ($2,179,837 and $1,769,341 excluded from depletion at December 31, 2024 and December 31, 2023, respectively)   5,712,671       4,628,983  
    Land   5,688       5,688  
    Accumulated depletion and impairment   (1,080,764 )     (866,352 )
    Property, net   4,637,595       3,768,319  
    Derivative instruments   —       92  
    Deferred income taxes (net of allowances)   185,235       56,656  
    Other assets   8,166       5,509  
    Total assets $ 5,069,040     $ 3,974,093  
    Liabilities and Stockholders’ Equity      
    Current liabilities:      
    Accounts payable $ 85     $ 19  
    Accounts payable—related party   1,980       1,330  
    Accrued liabilities   42,272       27,021  
    Derivative instruments   2,323       2,961  
    Income taxes payable   2,034       1,925  
    Total current liabilities   48,694       33,256  
    Long-term debt, net   1,082,979       1,083,082  
    Derivative instruments   —       201  
    Other long-term liabilities   30,148       —  
    Total liabilities   1,161,821       1,116,539  
    Stockholders’ equity:      
    Class A Common Stock, $0.000001 par value: 1,000,000,000 shares authorized; 102,977,142 and 86,144,273 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively   —       —  
    Class B Common Stock, $0.000001 par value: 1,000,000,000 shares authorized; 85,431,453 and 90,709,946 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively   —       —  
    Additional paid-in capital   1,568,560       1,031,078  
    Retained earnings (accumulated deficit)   118,444       (16,786 )
    Total Viper Energy, Inc. stockholders’ equity   1,687,004       1,014,292  
    Non-controlling interest   2,220,215       1,843,262  
    Total equity   3,907,219       2,857,554  
    Total liabilities and stockholders’ equity $ 5,069,040     $ 3,974,093  
                   
     
    Viper Energy, Inc.
    Consolidated Statements of Operations
    (unaudited, in thousands, except per share data)
                   
      Three Months Ended December 31,   Year Ended December 31,
      2024   2023   2024   2023
    Operating income:              
    Oil income $ 192,040     $ 175,254     $ 750,243     $ 619,181  
    Natural gas income   6,050       7,979       14,813       30,953  
    Natural gas liquids income   26,775       18,981       88,520       66,976  
    Royalty income   224,865       202,214       853,576       717,110  
    Lease bonus income—related party   —       2,238       227       107,823  
    Lease bonus income   3,655       125       5,944       1,855  
    Other operating income   179       135       640       909  
    Total operating income   228,699       204,712       860,387       827,697  
    Costs and expenses:              
    Production and ad valorem taxes   16,162       12,607       60,882       50,401  
    Depletion   64,591       44,787       214,412       146,118  
    General and administrative expenses—related party   3,150       924       10,541       3,696  
    General and administrative expenses   1,388       3,027       8,100       6,907  
    Other operating (income) expense   58       356       55       356  
    Total costs and expenses   85,349       61,701       293,990       207,478  
    Income (loss) from operations   143,350       143,011       566,397       620,219  
    Other income (expense):              
    Interest expense, net   (19,112 )     (15,756 )     (73,848 )     (47,392 )
    Gain (loss) on derivative instruments, net   6,122       4,892       11,386       (25,793 )
    Other income, net   —       1       —       259  
    Total other expense, net   (12,990 )     (10,863 )     (62,462 )     (72,926 )
    Income (loss) before income taxes   130,360       132,148       503,935       547,293  
    Provision for (benefit from) income taxes   (142,440 )     6,217       (99,711 )     45,952  
    Net income (loss)   272,800       125,931       603,646       501,341  
    Net income (loss) attributable to non-controlling interest   62,733       68,959       244,401       301,253  
    Net income (loss) attributable to Viper Energy, Inc. $ 210,067     $ 56,972     $ 359,245     $ 200,088  
                   
    Net income (loss) attributable to common shares:              
    Basic $ 2.04     $ 0.70     $ 3.82     $ 2.69  
    Diluted $ 2.04     $ 0.70     $ 3.82     $ 2.69  
    Weighted average number of common shares outstanding:              
    Basic   102,977       81,219       93,932       74,176  
    Diluted   102,977       81,219       93,932       74,176  
                                   
     
    Viper Energy, Inc.
    Consolidated Statements of Cash Flows
    (unaudited, in thousands)
                   
      Three Months Ended December 31,   Year Ended December 31,
      2024   2023   2024   2023
    Cash flows from operating activities:              
    Net income (loss) $ 272,800     $ 125,931     $ 603,646     $ 501,341  
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:              
    Provision for (benefit from) deferred income taxes   (148,580 )     (7,887 )     (149,085 )     (7,000 )
    Depletion   64,591       44,787       214,412       146,118  
    (Gain) loss on derivative instruments, net   (6,122 )     (4,892 )     (11,386 )     25,793  
    Net cash receipts (payments) on derivatives   (940 )     (3,300 )     (2,978 )     (13,319 )
    Other   1,727       1,397       6,197       3,442  
    Changes in operating assets and liabilities:              
    Royalty income receivable   (16,135 )     (5,232 )     (13,249 )     (27,379 )
    Royalty income receivable—related party   5,025       4,102       (27,642 )     2,931  
    Accounts payable and accrued liabilities   (7,190 )     2,155       7,002       6,311  
    Accounts payable—related party   1,981       1,330       651       1,024  
    Income taxes payable   218       (11,397 )     109       1,014  
    Other   (9,467 )     (1,199 )     (8,069 )     (2,084 )
    Net cash provided by (used in) operating activities   157,908       145,795       619,608       638,192  
    Cash flows from investing activities:              
    Acquisitions of oil and natural gas interests—related party   —       —       —       (75,073 )
    Acquisitions of oil and natural gas interests   (425,190 )     (731,618 )     (696,242 )     (830,128 )
    Proceeds from sale of oil and natural gas interests   (5 )     2       87,669       (3,164 )
    Net cash provided by (used in) investing activities   (425,195 )     (731,616 )     (608,573 )     (908,365 )
    Cash flows from financing activities:              
    Proceeds from borrowings under credit facility   372,000       313,000       842,000       573,000  
    Repayment on credit facility   (111,000 )     (300,000 )     (844,000 )     (462,000 )
    Proceeds from Notes   —       400,000       —       400,000  
    Net proceeds from public offering   2       —       475,906       —  
    Proceeds from public offering to Diamondback   —       200,000       —       200,000  
    Repurchased shares/units under buyback program   —       (28,040 )     —       (95,221 )
    Dividends/distributions to stockholders   (62,912 )     (44,596 )     (219,465 )     (128,777 )
    Dividends/distributions to Diamondback   (62,386 )     (68,047 )     (254,216 )     (195,976 )
    Dividends to other non-controlling interest   (7,368 )     —       (7,368 )     —  
    Other   (2,847 )     (7,441 )     (2,910 )     (13,163 )
    Net cash provided by (used in) financing activities   125,489       464,876       (10,053 )     277,863  
    Net increase (decrease) in cash and cash equivalents   (141,798 )     (120,945 )     982       7,690  
    Cash, cash equivalents and restricted cash at beginning of period   168,649       146,814       25,869       18,179  
    Cash, cash equivalents and restricted cash at end of period $ 26,851     $ 25,869     $ 26,851     $ 25,869  
                                   
     
    Viper Energy, Inc.
    Selected Operating Data
    (unaudited)
                   
      Three Months Ended December 31,   Year Ended December 31,
      2024
    		   2023
    		   2024
    		   2023
    Production Data:              
    Oil (MBbls)   2,747       2,257       9,939       8,028  
    Natural gas (MMcf)   7,236       5,321       24,606       19,130  
    Natural gas liquids (MBbls)   1,209       884       4,181       3,108  
    Combined volumes (Mboe)(1)   5,162       4,028       18,221       14,324  
                   
    Average daily oil volumes (bo/d)   29,859       24,533       27,156       21,995  
    Average daily combined volumes (boe/d)   56,109       43,783       49,784       39,244  
                   
    Average sales prices:              
    Oil ($/Bbl) $ 69.91     $ 77.65     $ 75.48     $ 77.13  
    Natural gas ($/Mcf) $ 0.84     $ 1.50     $ 0.60     $ 1.62  
    Natural gas liquids ($/Bbl) $ 22.15     $ 21.47     $ 21.17     $ 21.55  
    Combined ($/boe)(2) $ 43.56     $ 50.20     $ 46.85     $ 50.06  
                   
    Oil, hedged ($/Bbl)(3) $ 69.00     $ 76.56     $ 74.57     $ 76.05  
    Natural gas, hedged ($/Mcf)(3) $ 1.05     $ 1.34     $ 0.85     $ 1.37  
    Natural gas liquids ($/Bbl)(3) $ 22.15     $ 21.47     $ 21.17     $ 21.55  
    Combined price, hedged ($/boe)(3) $ 43.38     $ 49.38     $ 46.68     $ 49.13  
                   
    Average Costs ($/boe):              
    Production and ad valorem taxes $ 3.13     $ 3.13     $ 3.34     $ 3.52  
    General and administrative – cash component   0.72       0.90       0.86       0.65  
    Total operating expense – cash $ 3.85     $ 4.03     $ 4.20     $ 4.17  
                   
    General and administrative – non-cash stock compensation expense $ 0.16     $ 0.08     $ 0.16     $ 0.09  
    Interest expense, net $ 3.70     $ 3.91     $ 4.05     $ 3.31  
    Depletion $ 12.51     $ 11.12     $ 11.77     $ 10.20  

    (1)   Bbl equivalents are calculated using a conversion rate of six Mcf per one Bbl.
    (2)   Realized price net of all deducts for gathering, transportation and processing.
    (3)   Hedged prices reflect the impact of cash settlements of our matured commodity derivative transactions on our average sales prices.

    NON-GAAP FINANCIAL MEASURES

    Adjusted EBITDA is a supplemental non-GAAP (as defined below) financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. Viper defines Adjusted EBITDA as net income (loss) attributable to Viper Energy, Inc. plus net income (loss) attributable to non-controlling interest (“net income (loss)”) before interest expense, net, non-cash share-based compensation expense, depletion, non-cash (gain) loss on derivative instruments, (gain) loss on extinguishment of debt, if any, other non-cash operating expenses, other non-recurring expenses and provision for (benefit from) income taxes. Adjusted EBITDA is not a measure of net income as determined by United States’ generally accepted accounting principles (“GAAP”). Management believes Adjusted EBITDA is useful because it allows them to more effectively evaluate Viper’s operating performance and compare the results of its operations from period to period without regard to its financing methods or capital structure. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income, royalty income, cash flow from operating activities or any other measure of financial performance or liquidity presented as determined in accordance with GAAP. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA.

    Viper defines cash available for distribution to Viper Energy, Inc. shareholders generally as an amount equal to its Adjusted EBITDA for the applicable quarter less cash needed for income taxes payable for the current period, debt service, contractual obligations, fixed charges and reserves for future operating or capital needs that the Board may deem appropriate, lease bonus income, net of tax, distribution equivalent rights payments, preferred dividends, and an adjustment for changes in ownership interests that occurred subsequent to the quarter, if any. Management believes cash available for distribution is useful because it allows them to more effectively evaluate Viper’s operating performance excluding the impact of non-cash financial items and short-term changes in working capital. Viper’s computations of Adjusted EBITDA and cash available for distribution may not be comparable to other similarly titled measures of other companies or to such measure in its credit facility or any of its other contracts. Viper further defines cash available for variable dividends as at least 75 percent of cash available for distribution less base dividends declared and repurchased shares as part of its share buyback program for the applicable quarter.

    The following tables present a reconciliation of the GAAP financial measure of net income (loss) to the non-GAAP financial measures of Adjusted EBITDA, cash available for distribution and cash available for variable dividends:

    Viper Energy, Inc.
    (unaudited, in thousands, except per share data)
           
      Three Months Ended December 31, 2024   Year Ended December 31, 2024
    Net income (loss) attributable to Viper Energy, Inc. $ 210,067     $ 359,245  
    Net income (loss) attributable to non-controlling interest   62,733       244,401  
    Net income (loss)   272,800       603,646  
    Interest expense, net   19,112       73,848  
    Non-cash share-based compensation expense   815       2,975  
    Depletion   64,591       214,412  
    Non-cash (gain) loss on derivative instruments   (7,062 )     (14,364 )
    Other non-cash operating expenses   58       55  
    Other non-recurring expenses   —       1,314  
    Provision for (benefit from) income taxes   (142,440 )     (99,711 )
    Consolidated Adjusted EBITDA   207,874       782,175  
    Less: Adjusted EBITDA attributable to non-controlling interest   100,035       371,813  
    Adjusted EBITDA attributable to Viper Energy, Inc. $ 107,839     $ 410,362  
           
    Adjustments to reconcile Adjusted EBITDA to cash available for distribution:      
    Income taxes payable for the current period $ (6,139 )   $ (49,372 )
    Debt service, contractual obligations, fixed charges and reserves   (11,118 )     (39,219 )
    Lease bonus income, net of tax   (1,502 )     (2,510 )
    Distribution equivalent rights payments   (98 )     (393 )
    Preferred distributions   (20 )     (80 )
    Cash available for distribution to Viper Energy, Inc. shareholders $ 88,962     $ 318,788  
      Three Months Ended December 31, 2024
      Amounts   Amounts Per Common Share
    Reconciliation to cash available for variable dividends:      
    Cash available for distribution to Viper Energy, Inc. shareholders $ 88,962     $ 0.86  
           
    Return of Capital $ 66,722     $ 0.65  
    Less:      
    Base dividend   30,893       0.30  
    Cash available for variable dividends $ 35,829     $ 0.35  
           
    Total approved base and variable dividend per share     $ 0.65  
           
    Class A common stock outstanding       102,977  
               

    The following table presents a reconciliation of the GAAP financial measure of income (loss) before income taxes to the non-GAAP financial measure of pre-tax income attributable to Viper Energy, Inc. Management believes this measure is useful to investors given it provides the basis for income taxes payable by Viper Energy, Inc, which is an adjustment to reconcile Adjusted EBITDA to cash available for distribution to holders of Viper Energy, Inc.’s Class A common stock.

     
    Viper Energy, Inc.
    Pre-tax income attributable to Viper Energy, Inc.
    (unaudited, in thousands)
       
      Three Months Ended December 31, 2024
    Income (loss) before income taxes $ 130,360  
    Less: Net income (loss) attributable to non-controlling interest   62,733  
    Pre-tax income attributable to Viper Energy, Inc. $ 67,627  
       
    Income taxes payable for the current period $ 6,139  
    Effective cash tax rate attributable to Viper Energy, Inc.   9.1 %
           

    Adjusted net income (loss) is a non-GAAP financial measure equal to net income (loss) attributable to Viper Energy, Inc. plus net income (loss) attributable to non-controlling interest adjusted for non-cash (gain) loss on derivative instruments, net, (gain) loss on extinguishment of debt, if any, other non-cash operating expenses, other non-recurring expenses and related income tax adjustments. The Company’s computation of adjusted net income may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts. Management believes adjusted net income helps investors in the oil and natural gas industry to measure and compare the Company’s performance to other oil and natural gas companies by excluding from the calculation items that can vary significantly from company to company depending upon accounting methods, the book value of assets and other non-operational factors.

    The following table presents a reconciliation of the GAAP financial measure of net income (loss) attributable to Viper Energy, Inc. to the non-GAAP financial measure of adjusted net income (loss):

    Viper Energy, Inc.
    Adjusted Net Income (Loss)
    (unaudited, in thousands, except per share data)
       
      Three Months Ended December 31, 2024
      Amounts   Amounts Per Diluted Share
    Net income (loss) attributable to Viper Energy, Inc.(1) $ 210,067     $ 2.04  
    Net income (loss) attributable to non-controlling interest   62,733       0.61  
    Net income (loss)(1)   272,800       2.65  
    Non-cash (gain) loss on derivative instruments, net   (7,062 )     (0.07 )
    Other non-cash operating expenses   58       —  
    Adjusted income excluding above items(1)   265,796       2.58  
    Income tax adjustment for above items   (7,653 )     (0.08 )
    Adjusted net income (loss)(1)   258,143       2.50  
    Less: Adjusted net income (loss) attributed to non-controlling interests   59,211       0.57  
    Adjusted net income (loss) attributable to Viper Energy, Inc.(1) $ 198,932     $ 1.93  
           
    Weighted average Class A common shares outstanding:      
    Basic   102,977  
    Diluted   102,977  

    (1) The Company’s earnings (loss) per diluted share amount has been computed using the two-class method in accordance with GAAP. The two-class method is an earnings allocation which reflects the respective ownership among holders of Class A common shares and participating securities. Diluted earnings per share using the two-class method is calculated as (i) net income attributable to Viper Energy, Inc., (ii) less the reallocation of $0.4 million in earnings attributable to participating securities, and (iii) divided by diluted weighted average Class A common shares outstanding.

    RECONCILIATION OF LONG-TERM DEBT TO NET DEBT

    The Company defines the non-GAAP measure of net debt as debt (excluding debt issuance costs, discounts and premiums) less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total debt, the most directly comparable GAAP measure. Management uses net debt to determine the Company’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. The Company believes this metric is useful to analysts and investors in determining the Company’s leverage position because the Company has the ability to, and may decide to, use a portion of its cash and cash equivalents to reduce debt.

                           
      December 31, 2024   Net Q4 Principal Borrowings/ (Repayments)   September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023
      (in thousands)
    Total long-term debt(1) $ 1,091,350     $ 261,000     $ 830,350     $ 1,007,350     $ 1,103,350     $ 1,093,350  
    Cash and cash equivalents   (26,851 )         (168,649 )     (35,211 )     (20,005 )     (25,869 )
    Net debt $ 1,064,499         $ 661,701     $ 972,139     $ 1,083,345     $ 1,067,481  

    (1) Excludes debt issuance costs, discounts & premiums.

    PV-10

    PV-10 is the Company’s estimate of the present value of the future net revenues from proved oil and natural gas reserves after deducting estimated production and ad valorem taxes, future capital costs and operating expenses, but before deducting any estimates of future income taxes. The estimated future net revenues are discounted at an annual rate of 10% to determine their “present value.” The Company believes PV-10 to be an important measure for evaluating the relative significance of its oil and natural gas properties and that the presentation of the non-GAAP financial measure of PV-10 provides useful information to investors because it is widely used by professional analysts and investors in evaluating oil and natural gas companies. Because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid, the Company believes the use of a pre-tax measure is valuable for evaluating the Company. The Company believes that PV-10 is a financial measure routinely used and calculated similarly by other companies in the oil and natural gas industry.

    The following table reconciles the Company’s standardized measure of discounted future net cash flows, a GAAP financial measure to PV-10, a non-GAAP financial measure. PV-10 should not be considered as an alternative to the standardized measure as computed under GAAP.

       
    (in thousands) December 31, 2024
    Standardized measure of discounted future net cash flows after taxes $ 3,319,544  
    Add: Present value of future income tax discounted at 10%   364,976  
    PV-10 $ 3,684,520  
           

    Derivatives

    As of the filing date, the Company had the following outstanding derivative contracts. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and Crude Oil Brent. When aggregating multiple contracts, the weighted average contract price is disclosed.

       
      Crude Oil (Bbls/day, $/Bbl)
      Q1 2025   Q2 2025   Q3 2025   Q4 2025   FY 2026   FY 2027
    Deferred Premium Puts – WTI (Cushing)   20,000       20,000       18,000       —       —       —  
    Strike $ 55.00     $ 55.00     $ 55.00     $ —     $ —     $ —  
    Premium $ (1.62 )   $ (1.61 )   $ (1.60 )   $ —     $ —     $ —  
      Natural Gas (Mmbtu/day, $/Mmbtu)
      Q1 2025   Q2 2025   Q3 2025   Q4 2025   FY 2026   FY 2027
    Costless Collars – Henry Hub   60,000       60,000       60,000       60,000       60,000       —  
    Floor $ 2.50     $ 2.50     $ 2.50     $ 2.50     $ 2.75     $ —  
    Ceiling $ 4.93     $ 4.93     $ 4.93     $ 4.93     $ 6.64     $ —  
      Natural Gas (Mmbtu/day, $/Mmbtu)
      Q1 2025   Q2 2025   Q3 2025   Q4 2025   FY 2026   FY 2027
    Natural Gas Basis Swaps – Waha Hub   60,000       60,000       60,000       60,000       40,000       40,000  
    Swap Price $ (0.80 )   $ (0.80 )   $ (0.80 )   $ (0.80 )   $ (1.40 )   $ (1.40 )
                                                   

    Investor Contact:

    Chip Seale
    +1 432.247.6218
    cseale@viperenergy.com

    Source: Viper Energy, Inc.; Diamondback Energy, Inc.

    The MIL Network –

  • MIL-OSI: Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2024 Financial and Operating Results; Increases Base Dividend

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, Feb. 24, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2024.

    FOURTH QUARTER 2024 HIGHLIGHTS

    • Average production of 475.9 MBO/d (883.4 MBOE/d)
    • Net cash provided by operating activities of $2.3 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $2.3 billion
    • Cash capital expenditures of $933 million
    • Free Cash Flow (as defined and reconciled below) of $1.3 billion; Adjusted Free Cash Flow (as defined and reconciled below) of $1.4 billion
    • Increased annual base dividend by 11% to $4.00 per share; declared Q4 2024 base cash dividend of $1.00 per share payable on March 13, 2025; implies a 2.6% annualized yield based on February 21, 2025 closing share price of $156.12
    • Repurchased 2,326,247 shares of common stock in Q4 2024 for $402 million, excluding excise tax (at a weighted average price of $172.91 per share); repurchased 1,254,600 shares of common stock to date in Q1 2025 for $210 million, excluding excise tax (at a weighted average price of $167.42 per share)
    • Total Q4 2024 return of capital of $694 million; represents ~51% of Adjusted Free Cash Flow (as defined and reconciled below) from stock repurchases and the declared Q4 2024 base dividend
    • Closed previously announced TRP Energy (“TRP”) transaction in December 2024

    FULL YEAR 2024 HIGHLIGHTS

    • Average production of 337.0 MBO/d (598.3 MBOE/d)
    • Net cash provided by operating activities of $6.4 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $6.5 billion
    • Cash capital expenditures of $2.9 billion
    • Free Cash Flow (as defined and reconciled below) of $3.6 billion; Adjusted Free Cash Flow (as defined and reconciled below) of $4.0 billion
    • Declared total base-plus-variable dividends of $6.21 per share for the full year 2024
    • Repurchased 5,525,276 shares of common stock in 2024 for $959 million, excluding excise tax (at a weighted average price of $173.57 per share)
    • Total full year 2024 return of capital of $2.3 billion; represents ~57% of FY 2024 Adjusted Free Cash Flow (as defined and reconciled below)
    • As previously announced, closed merger with Endeavor Energy Resources, L.P. (“Endeavor”) on September 10, 2024
    • Proved reserves as of December 31, 2024 of 3,557 MMBOE (1,761 MMBO, 50% oil), up 63% year over year; proved developed producing (“PDP”) reserves of 2,385 MMBOE (1,121 MMBO, 47% oil, 67% of proved reserves), up 59% year over year

    2025 GUIDANCE HIGHLIGHTS

    Please note the guidance below gives effect to the pending acquisition of Double Eagle IV Midco, LLC (“Double Eagle”) from April 1, 2025 onward.

    • Full year 2025 oil production guidance of 485 – 498 MBO/d (883 – 909 MBOE/d)
    • Full year 2025 cash capital expenditures guidance of $3.8 – $4.2 billion
    • The Company expects to drill between 446 – 471 gross (406 – 428 net) wells and complete between 557 – 592 gross (526 – 560 net) wells with an average lateral length of approximately 11,500 feet in 2025
    • Q1 2025 oil production guidance of 470 – 475 MBO/d (860 – 875 MBOE/d)
    • Q1 2025 cash capital expenditures guidance of $900 million – $1.0 billion
    • Implies Q2 2025 – Q4 2025 run-rate oil production of 490 – 505 MBO/d (891 – 920 MBOE/d)
    • Full year 2025 Midland Basin well costs per lateral foot guidance of $555 – $605
    • Implies full year 2025 oil production per million dollars of cash capital expenditures (“MBO per $MM of CAPEX”) of 44.8, 10% better than the Company’s original pro forma 2025 outlook provided in February 2024

    OPERATIONS UPDATE

    The tables below provide a summary of operating activity for the fourth quarter of 2024.

    Total Activity (Gross Operated):          
      Number of Wells Drilled
    		   Number of Wells Completed
    Midland Basin 131     124  
    Delaware Basin 6     4  
    Total 137     128  
    Total Activity (Net Operated):          
      Number of Wells Drilled
    		   Number of Wells Completed
    Midland Basin 124     113  
    Delaware Basin 5     4  
    Total 129     117  

    During the fourth quarter of 2024, Diamondback drilled 131 gross wells in the Midland Basin and six gross wells in the Delaware Basin. The Company turned 124 operated wells to production in the Midland Basin and four gross wells in the Delaware Basin, with an average lateral length of 11,810 feet. Operated completions during the fourth quarter consisted of 26 Wolfcamp A wells, 26 Lower Spraberry wells, 24 Wolfcamp B wells, 19 Jo Mill wells, 15 Middle Spraberry wells, four Wolfcamp D wells, four Dean wells, three Upper Spraberry wells, three Barnett wells, two Second Bone Spring wells and two Third Bone Spring wells.

    For the year ended December 31, 2024, Diamondback drilled 342 gross wells in the Midland Basin and 30 gross wells in the Delaware Basin. The Company turned 391 operated wells to production in the Midland Basin and 19 operated wells to production in the Delaware Basin. The average lateral length for wells completed during the year ended December 31, 2024 was 11,719 feet, and consisted of 98 Lower Spraberry wells, 87 Wolfcamp A wells, 69 Wolfcamp B wells, 59 Jo Mill wells, 49 Middle Spraberry wells, 13 Wolfcamp D wells, 13 Dean wells, nine Upper Spraberry wells, six Third Bone Spring wells, four Barnett wells and three Second Bone Spring wells.

    FINANCIAL UPDATE

    Diamondback’s fourth quarter 2024 net income was $1.1 billion, or $3.67 per diluted share. Adjusted net income (as defined and reconciled below) for the fourth quarter was $1.1 billion, or $3.64 per diluted share. For the full year ended December 31, 2024, Diamondback’s net income was $3.3 billion, or $15.53 per diluted share. Adjusted net income for the full year was $3.6 billion, or $16.57 per diluted share.

    Fourth quarter 2024 net cash provided by operating activities was $2.3 billion. For the full year ended December 31, 2024, Diamondback’s net cash provided by operating activities was $6.4 billion.

    During the fourth quarter of 2024, Diamondback spent $834 million on operated and non-operated drilling and completions, $93 million on infrastructure and environmental and $6 million on midstream, for total cash capital expenditures of $933 million. For the full year ended 2024, Diamondback spent $2.6 billion on operated and non-operated drilling and completions, $221 million on infrastructure and environmental and $14 million on midstream, for total cash capital expenditures of $2.9 billion.

    Fourth quarter 2024 Consolidated Adjusted EBITDA (as defined and reconciled below) was $2.6 billion. Adjusted EBITDA net of non-controlling interest (as defined and reconciled below) for the fourth quarter was $2.5 billion. For the full year ended December 31, 2024, Consolidated Adjusted EBITDA was $7.7 billion. Adjusted EBITDA net of non-controlling interest for the full year was $7.3 billion.

    Diamondback’s fourth quarter 2024 Free Cash Flow (as defined and reconciled below) was $1.3 billion. Adjusted Free Cash Flow (as reconciled and defined below) for the fourth quarter was $1.4 billion. For the full year ended December 31, 2024, Diamondback’s Free Cash Flow was $3.6 billion, with $4.0 billion of Adjusted Free Cash Flow over the same period.

    Fourth quarter 2024 average unhedged realized prices were $69.48 per barrel of oil, $0.48 per Mcf of natural gas and $19.27 per barrel of natural gas liquids (“NGLs”), resulting in a total equivalent unhedged realized price of $42.71 per BOE.

    Diamondback’s cash operating costs for the fourth quarter of 2024 were $10.30 per BOE, including lease operating expenses (“LOE”) of $5.67 per BOE, cash general and administrative (“G&A”) expenses of $0.69 per BOE, production and ad valorem taxes of $2.77 per BOE and gathering, processing and transportation expenses of $1.17 per BOE.

    As of December 31, 2024, Diamondback had $134 million in standalone cash and no borrowings outstanding under its revolving credit facility, with approximately $2.5 billion available for future borrowings under the facility and approximately $2.6 billion of total liquidity. As of December 31, 2024, the Company had consolidated total debt of $13.2 billion and consolidated net debt (as defined and reconciled below) of $13.0 billion, up from consolidated total debt of $13.1 billion and consolidated net debt of $12.7 billion as of September 30, 2024.

    DIVIDEND DECLARATIONS

    Diamondback announced today that the Company’s Board of Directors declared a base cash dividend of $1.00 per common share for the fourth quarter of 2024 payable on March 13, 2025 to stockholders of record at the close of business on March 6, 2025.

    Future base and variable dividends remain subject to review and approval at the discretion of the Company’s Board of Directors.

    COMMON STOCK REPURCHASE PROGRAM

    During the fourth quarter of 2024, Diamondback repurchased ~2.3 million shares of common stock at an average share price of $172.91 for a total cost of approximately $402 million, excluding excise tax. To date, Diamondback has repurchased ~25.8 million shares of common stock at an average share price of $136.82 for a total cost of approximately $3.5 billion and has approximately $2.5 billion remaining on its current share buyback authorization. Subject to factors discussed below, Diamondback intends to continue to purchase common stock under the common stock repurchase program opportunistically with cash on hand, free cash flow from operations and proceeds from potential liquidity events such as the sale of assets. This repurchase program has no time limit and may be suspended from time to time, modified, extended or discontinued by the Board at any time. Purchases under the repurchase program may be made from time to time in privately negotiated transactions, or in open market transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and will be subject to market conditions, applicable regulatory and legal requirements and other factors. Any common stock purchased as part of this program will be retired.

    RESERVES

    Estimates of Diamondback’s proved reserves as of December 31, 2024 were prepared by Diamondback’s internal reservoir engineers and audited by Ryder Scott Company, L.P., an independent petroleum engineering firm. Reference prices of $75.48 per barrel of oil and $2.13 per Mmbtu of natural gas were used in accordance with applicable rules of the Securities and Exchange Commission. Realized prices with applicable differentials were $76.15 per barrel of oil, $0.54 per Mcf of natural gas and $22.02 per barrel of natural gas liquids.

    Proved reserves at year-end 2024 of 3,557 MMBOE represent a 63% increase over year-end 2023 reserves. Proved developed reserves increased by 59% to 2,385 MMBOE (67% of total proved reserves) as of December 31, 2024, reflecting the continued development of the Company’s horizontal well inventory. Proved undeveloped reserves (“PUD” or “PUDs”) increased to 1,173 MMBOE, a 72% increase over year-end 2023, and are comprised of 1,381 horizontal locations in which we have a working interest, of which 1,310 are in the Midland Basin. Crude oil represents 50% of Diamondback’s total proved reserves.

    Net proved reserve additions of 1,599 MMBOE resulted in a reserve replacement ratio of 730% (defined as the sum of extensions and discoveries, revisions, purchases and divestitures, divided by annual production). The organic reserve replacement ratio was 68% (defined as the sum of extensions and discoveries and revisions, divided by annual production).

    Net purchases of reserves were the primary contributor to the increase in reserves totaling 1,449 MMBOE followed by Extensions and discoveries of reserves totaling 279 MMBOE, with downward revisions of 129 MMBOE. PDP extensions were the result of 1,172 new wells in which the Company has an interest, and PUD extensions were the result of 445 new locations in which the Company has a working interest. Net purchases of reserves of 1,449 MMBOE were the net result of acquisitions of 1,569 MMBOE and divestitures of 121 MMBOE. Downward revisions of 129 MMBOE were primarily the result of negative revisions of 89 MMBOE associated with lower commodity prices, 49 MMBOE due to PUD downgrades related to changes in the corporate development plan and 17 MMBOE due to a decline in well performance. These were partially offset by positive performance revisions of 26 MMBOE related to ownership and acquisition variance revisions.

    The SEC PUD guidelines allow a company to book PUD reserves associated with projects that are to occur within the next five years. With its current development plan, the Company expects to continue its strong PUD conversion ratio in 2025 by converting an estimated 33% of its PUDs to a Proved Developed category, and develop approximately 78% of the consolidated 2024 year-end PUD reserves by the end of 2027.

      Oil (MBbls)   Gas (MMcf)   Liquids (MBbls)   MBOE
    As of December 31, 2023 1,143,944     2,997,422     534,247     2,177,761  
    Extensions and discoveries 168,375     310,421     58,696     278,808  
    Revisions of previous estimates (78,142 )   (158,468 )   (24,518 )   (129,071 )
    Purchase of reserves in place 697,702     2,391,264     473,236     1,569,482  
    Divestitures (47,505 )   (240,044 )   (33,080 )   (120,592 )
    Production (123,325 )   (275,680 )   (49,700 )   (218,972 )
    As of December 31, 2024 1,761,049     5,024,915     958,881     3,557,416  

    Diamondback’s exploration and development costs in 2024 were $3.2 billion. PD F&D costs were $10.51/BOE. PD F&D costs are defined as exploration and development costs, excluding midstream, divided by the sum of reserves associated with transfers from proved undeveloped reserves at year-end 2023 including any associated revisions in 2024 and extensions and discoveries placed on production during 2024. Drill bit F&D costs were $19.12/BOE including the effects of all revisions including pricing revisions. Drill bit F&D costs are defined as the exploration and development costs, excluding midstream, divided by the sum of extensions, discoveries and revisions.

      Year Ended December 31,
        2024       2023       2022  
      (In millions)
    Acquisition costs:          
    Proved properties $ 21,275     $ 1,314     $ 778  
    Unproved properties   15,568       1,701       1,536  
    Development costs   2,992       1,962       566  
    Exploration costs   194       768       1,698  
    Total $ 40,029     $ 5,745     $ 4,578  


    FULL YEAR 2025 GUIDANCE

    Below is Diamondback’s guidance for the full year 2025, which includes first quarter production, cash tax and capital guidance. This guidance gives effect to the estimated contribution related to the pending Double Eagle acquisition, which is expected to close on April 1, 2025, subject to the satisfaction of customary closing conditions and regulatory approval.

      2025 Guidance 2025 Guidance
      Diamondback Energy, Inc. Viper Energy, Inc.
         
    2025 Net production – MBOE/d 883 – 909  
    2025 Oil production – MBO/d 485 – 498  
    Q1 2025 Oil production – MBO/d (total – MBOE/d) 470 – 475 (860 – 875) 30.0 – 31.0 (54.0 – 56.0)
         
    Unit costs ($/BOE)    
    Lease operating expenses, including workovers $5.90 – $6.30  
    G&A    
    Cash G&A $0.60 – $0.75  
    Non-cash equity-based compensation $0.25 – $0.35  
    DD&A $14.00 – $15.00  
    Interest expense (net of interest income) $0.25 – $0.50  
    Gathering, processing and transportation $1.20 – $1.40  
         
    Production and ad valorem taxes (% of revenue) ~7%  
    Corporate tax rate (% of pre-tax income) 23%  
    Cash tax rate (% of pre-tax income) 17% – 20%  
    Q1 2025 Cash taxes ($ – million) $280 – $340  
         
    Capital Budget ($ – million)    
    Operated drilling and completion $3,130 – $3,440  
    Capital workovers, non-operated properties and science $280 – $320  
    Infrastructure, environmental and midstream(1) $390 – $440  
    2025 Total capital expenditures $3,800 – $4,200  
    Q1 2025 Capital expenditures $900 – $1,000  
         
    Gross horizontal wells drilled (net) 446 – 471 (406 – 428)  
    Gross horizontal wells completed (net) 557 – 592 (526 – 560)  
    Average lateral length (Ft.) ~11,500′  
    FY 2025 Midland Basin well costs per lateral foot $555 – $605  
    FY 2025 Delaware Basin well costs per lateral foot $860 – $910  
    Midland Basin completed net lateral feet (%) ~95%  
    Delaware Basin completed net lateral feet (%) ~5%  

    (1) Includes approximately $60 million in estimated midstream capital expenditures for the full year 2025.

    CONFERENCE CALL

    Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 8:00 a.m. CT. Access to the webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Diamondback’s website at www.diamondbackenergy.com under the “Investor Relations” section of the site.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s: future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the recently completed Endeavor merger, the pending Double Eagle acquisition and other acquisitions or divestitures); and plans and objectives of management (including plans for future cash flow from operations and for executing environmental strategies) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases and any related company or government policies or actions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial markets; inflationary pressures; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production, or governmental orders, rules or regulations that impose production limits; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change; those risks described in Item 1A of Diamondback’s Annual Report on Form 10-K, filed with the SEC on February 22, 2024, and those risks disclosed in its subsequent filings on Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors.

    In light of these factors, the events anticipated by Diamondback’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Diamondback operates in a very competitive and rapidly changing environment and new risks emerge from time to time. Diamondback cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this letter or, if earlier, as of the date they were made. Diamondback does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

     
    Diamondback Energy, Inc.
    Consolidated Balance Sheets
    (unaudited, in millions, except share amounts)
           
      December 31,   December 31,
        2024       2023  
    Assets      
    Current assets:      
    Cash and cash equivalents ($27 million and $26 million related to Viper) $ 161     $ 582  
    Restricted cash   3       3  
    Accounts receivable:      
    Joint interest and other, net   198       192  
    Oil and natural gas sales, net ($149 million and $109 million related to Viper)   1,387       654  
    Inventories   116       63  
    Derivative instruments   168       17  
    Prepaid expenses and other current assets   77       110  
    Total current assets   2,110       1,621  
    Property and equipment:      
    Oil and natural gas properties, full cost method of accounting ($22,666 million and $8,659 million excluded from amortization at December 31, 2024 and December 31, 2023, respectively) ($5,713 million and $4,629 million related to Viper and $2,180 million and $1,769 million excluded from amortization related to Viper)   82,240       42,430  
    Other property, equipment and land   1,440       673  
    Accumulated depletion, depreciation, amortization and impairment ($1,081 million and $866 million related to Viper)   (19,208 )     (16,429 )
    Property and equipment, net   64,472       26,674  
    Funds held in escrow   1       —  
    Equity method investments   375       529  
    Derivative instruments   2       1  
    Deferred income taxes, net ($185 million and $57 million related to Viper)   173       45  
    Other assets   159       131  
    Total assets $ 67,292     $ 29,001  
    Liabilities and Stockholders’ Equity      
    Current liabilities:      
    Accounts payable – trade $ 253     $ 261  
    Accrued capital expenditures   690       493  
    Current maturities of debt   900       —  
    Other accrued liabilities   1,020       475  
    Revenues and royalties payable   1,491       764  
    Derivative instruments   43       86  
    Income taxes payable   414       29  
    Total current liabilities   4,811       2,108  
    Long-term debt ($1,083 million and $1,083 million related to Viper)   12,075       6,641  
    Derivative instruments   106       122  
    Asset retirement obligations   573       239  
    Deferred income taxes   9,826       2,449  
    Other long-term liabilities   39       12  
    Total liabilities   27,430       11,571  
    Stockholders’ equity:      
    Common stock, $0.01 par value; 800,000,000 shares authorized; 290,984,373 and 178,723,871 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively   3       2  
    Additional paid-in capital   33,501       14,142  
    Retained earnings (accumulated deficit)   4,238       2,489  
    Accumulated other comprehensive income (loss)   (6 )     (8 )
    Total Diamondback Energy, Inc. stockholders’ equity   37,736       16,625  
    Non-controlling interest   2,126       805  
    Total equity   39,862       17,430  
    Total liabilities and stockholders’ equity $ 67,292     $ 29,001  
     
    Diamondback Energy, Inc.
    Consolidated Statements of Operations
    (unaudited, $ in millions except per share data, shares in thousands)
                   
      Three Months Ended December 31,   Year Ended December 31,
        2024       2023       2024       2023  
    Revenues:              
    Oil, natural gas and natural gas liquid sales $ 3,471     $ 2,165     $ 10,100     $ 8,228  
    Sales of purchased oil   225       52       923       111  
    Other operating income   15       11       43       73  
    Total revenues   3,711       2,228       11,066       8,412  
    Costs and expenses:              
    Lease operating expenses   461       254       1,286       872  
    Production and ad valorem taxes   225       104       638       525  
    Gathering, processing and transportation   95       78       356       287  
    Purchased oil expense   225       52       921       111  
    Depreciation, depletion, amortization and accretion   1,156       469       2,850       1,746  
    General and administrative expenses   72       39       213       150  
    Merger and integration expense   30       —       303       11  
    Other operating expenses   35       27       103       140  
    Total costs and expenses   2,299       1,023       6,670       3,842  
    Income (loss) from operations   1,412       1,205       4,396       4,570  
    Other income (expense):              
    Interest expense, net   (34 )     (29 )     (135 )     (159 )
    Other income (expense), net   (7 )     (9 )     80       52  
    Gain (loss) on derivative instruments, net   36       99       137       (259 )
    Gain (loss) on extinguishment of debt   —       —       2       (4 )
    Income (loss) from equity investments, net   (2 )     9       21       48  
    Total other income (expense), net   (7 )     70       105       (322 )
    Income (loss) before income taxes   1,405       1,275       4,501       4,248  
    Provision for (benefit from) income taxes   115       264       800       912  
    Net income (loss)   1,290       1,011       3,701       3,336  
    Net income (loss) attributable to non-controlling interest   216       51       363       193  
    Net income (loss) attributable to Diamondback Energy, Inc. $ 1,074     $ 960     $ 3,338     $ 3,143  
                   
    Earnings (loss) per common share:              
    Basic $ 3.67     $ 5.34     $ 15.53     $ 17.34  
    Diluted $ 3.67     $ 5.34     $ 15.53     $ 17.34  
    Weighted average common shares outstanding:              
    Basic   291,851       178,811       213,545       179,999  
    Diluted   291,851       178,811       213,545       179,999  
     
    Diamondback Energy, Inc.
    Consolidated Statements of Cash Flows
    (unaudited, in millions)
                   
      Three Months Ended December 31,   Year Ended December 31,
        2024       2023       2024       2023  
    Cash flows from operating activities:              
    Net income (loss) $ 1,290     $ 1,011     $ 3,701     $ 3,336  
    Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:              
    Provision for (benefit from) deferred income taxes   (165 )     193       15       378  
    Depreciation, depletion, amortization and accretion   1,156       469       2,850       1,746  
    (Gain) loss on extinguishment of debt   —       —       (2 )     4  
    (Gain) loss on derivative instruments, net   (36 )     (99 )     (137 )     259  
    Cash received (paid) on settlement of derivative instruments   (15 )     (48 )     (51 )     (110 )
    (Income) loss from equity investment, net   2       (9 )     (21 )     (48 )
    Equity-based compensation expense   16       14       65       54  
    Other   12       28       89       5  
    Changes in operating assets and liabilities:              
    Accounts receivable   (103 )     147       (42 )     (71 )
    Income tax receivable   (3 )     16       9       283  
    Prepaid expenses and other current assets   (24 )     (94 )     54       (89 )
    Accounts payable and accrued liabilities   114       11       (376 )     57  
    Income taxes payable   138       (9 )     87       (5 )
    Revenues and royalties payable   59       (16 )     168       123  
    Other   (100 )     10       4       (2 )
    Net cash provided by (used in) operating activities   2,341       1,624       6,413       5,920  
    Cash flows from investing activities:              
    Drilling, completions, infrastructure and midstream additions to oil and natural gas properties   (933 )     (649 )     (2,867 )     (2,701 )
    Property acquisitions   (926 )     (820 )     (8,920 )     (2,013 )
    Proceeds from sale of assets   8       7       467       1,407  
    Other   (4 )     (2 )     99       (16 )
    Net cash provided by (used in) investing activities   (1,855 )     (1,464 )     (11,221 )     (3,323 )
    Cash flows from financing activities:              
    Proceeds under term loan agreement   —       —       1,000       —  
    Repayments under term loan agreement   (100 )     —       (100 )     —  
    Proceeds from borrowings under credit facilities   2,190       313       3,375       4,779  
    Repayments under credit facilities   (2,044 )     (300 )     (3,377 )     (4,668 )
    Proceeds from senior notes   —       400       5,500       400  
    Repayment of senior notes   —       —       (25 )     (134 )
    Repurchased shares under buyback program   (402 )     (131 )     (959 )     (840 )
    Repurchased shares/units under Viper’s buyback program   —       (28 )     —       (95 )
    Proceeds from partial sale of investment in Viper Energy, Inc.   —       —       451       —  
    Net proceeds from Viper’s issuance of common stock   —       —       476       —  
    Dividends paid to stockholders   (262 )     (603 )     (1,578 )     (1,444 )
    Dividends/distributions to non-controlling interest   (70 )     (45 )     (227 )     (129 )
    Other   (7 )     (11 )     (149 )     (45 )
    Net cash provided by (used in) financing activities   (695 )     (405 )     4,387       (2,176 )
    Net increase (decrease) in cash and cash equivalents   (209 )     (245 )     (421 )     421  
    Cash, cash equivalents and restricted cash at beginning of period   373       830       585       164  
    Cash, cash equivalents and restricted cash at end of period $ 164     $ 585     $ 164     $ 585  
     
    Diamondback Energy, Inc.
    Selected Operating Data
    (unaudited)
                   
      Three Months Ended December 31,   Year Ended December 31,
        2024       2023       2024       2023  
    Production Data:              
    Oil (MBbls)   43,785       25,124       123,325       96,176  
    Natural gas (MMcf)   107,249       50,497       275,680       198,117  
    Natural gas liquids (MBbls)   19,615       9,016       49,700       34,217  
    Combined volumes (MBOE)(1)   81,275       42,556       218,972       163,413  
                   
    Daily oil volumes (BO/d)   475,924       273,087       336,954       263,496  
    Daily combined volumes (BOE/d)   883,424       462,565       598,284       447,707  
                   
    Average Prices:              
    Oil ($ per Bbl) $ 69.48     $ 76.42     $ 73.52     $ 75.68  
    Natural gas ($ per Mcf) $ 0.48     $ 1.29     $ 0.32     $ 1.32  
    Natural gas liquids ($ per Bbl) $ 19.27     $ 19.96     $ 18.99     $ 20.08  
    Combined ($ per BOE) $ 42.71     $ 50.87     $ 46.12     $ 50.35  
                   
    Oil, hedged ($ per Bbl)(2) $ 68.72     $ 75.59     $ 72.68     $ 74.72  
    Natural gas, hedged ($ per Mcf)(2) $ 0.82     $ 1.31     $ 0.91     $ 1.48  
    Natural gas liquids, hedged ($ per Bbl)(2) $ 19.27     $ 19.96     $ 18.99     $ 20.08  
    Average price, hedged ($ per BOE)(2) $ 42.76     $ 50.40     $ 46.38     $ 49.98  
                   
    Average Costs per BOE:              
    Lease operating expenses $ 5.67     $ 5.97     $ 5.87     $ 5.34  
    Production and ad valorem taxes   2.77       2.44       2.91       3.21  
    Gathering, processing and transportation expense   1.17       1.83       1.63       1.76  
    General and administrative – cash component   0.69       0.59       0.68       0.59  
    Total operating expense – cash $ 10.30     $ 10.83     $ 11.09     $ 10.90  
                   
    General and administrative – non-cash component $ 0.20     $ 0.33     $ 0.30     $ 0.33  
    Depreciation, depletion, amortization and accretion $ 14.22     $ 11.02     $ 13.02     $ 10.68  
    Interest expense, net $ 0.42     $ 0.68     $ 0.62     $ 0.97  

    (1)   Bbl equivalents are calculated using a conversion rate of six Mcf per one Bbl.
    (2)   Hedged prices reflect the effect of our commodity derivative transactions on our average sales prices and include gains and losses on cash settlements for matured commodity derivatives, which we do not designate for hedge accounting. Hedged prices exclude gains or losses resulting from the early settlement of commodity derivative contracts.


    NON-GAAP FINANCIAL MEASURES

    ADJUSTED EBITDA

    Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. The Company defines Adjusted EBITDA as net income (loss) attributable to Diamondback Energy, Inc., plus net income (loss) attributable to non-controlling interest (“net income (loss)”) before non-cash (gain) loss on derivative instruments, net, interest expense, net, depreciation, depletion, amortization and accretion, depreciation and interest expense related to equity method investments, (gain) loss on extinguishment of debt, if any, non-cash equity-based compensation expense, capitalized equity-based compensation expense, merger and integration expenses, other non-cash transactions and provision for (benefit from) income taxes, if any. Adjusted EBITDA is not a measure of net income as determined by United States generally accepted accounting principles (“GAAP”). Management believes Adjusted EBITDA is useful because the measure allows it to more effectively evaluate the Company’s operating performance and compare the results of its operations from period to period without regard to its financing methods or capital structure. The Company adds the items listed above to net income (loss) to determine Adjusted EBITDA because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Further, the Company excludes the effects of significant transactions that may affect earnings but are unpredictable in nature, timing and amount, although they may recur in different reporting periods. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of the Company’s operating performance or liquidity. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets. The Company’s computation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts.

    The following tables present a reconciliation of the GAAP financial measure of net income (loss) attributable to Diamondback Energy, Inc. to the non-GAAP financial measure of Adjusted EBITDA:

    Diamondback Energy, Inc.
    Reconciliation of Net Income (Loss) to Adjusted EBITDA
    (unaudited, in millions)
                   
      Three Months Ended December 31,   Year Ended December 31,
        2024       2023       2024       2023  
    Net income (loss) attributable to Diamondback Energy, Inc. $ 1,074     $ 960     $ 3,338     $ 3,143  
    Net income (loss) attributable to non-controlling interest   216       51       363       193  
    Net income (loss)   1,290       1,011       3,701       3,336  
    Non-cash (gain) loss on derivative instruments, net   (51 )     (147 )     (188 )     149  
    Interest expense, net   34       29       135       159  
    Depreciation, depletion, amortization and accretion   1,156       469       2,850       1,746  
    Depreciation and interest expense related to equity method investments   30       18       91       70  
    (Gain) loss on extinguishment of debt   —       —       (2 )     4  
    Non-cash equity-based compensation expense   24       21       95       80  
    Capitalized equity-based compensation expense   (8 )     (7 )     (30 )     (26 )
    Merger and integration expenses   30       —       303       11  
    Other non-cash transactions   2       12       (62 )     (52 )
    Provision for (benefit from) income taxes   115       264       800       912  
    Consolidated Adjusted EBITDA   2,622       1,670       7,693       6,389  
    Less: Adjustment for non-controlling interest   118       82       411       290  
    Adjusted EBITDA attributable to Diamondback Energy, Inc. $ 2,504     $ 1,588     $ 7,282     $ 6,099  

    ADJUSTED NET INCOME

    Adjusted net income is a non-GAAP financial measure equal to net income (loss) attributable to Diamondback Energy, Inc. plus net income (loss) attributable to non-controlling interest (“net income (loss)”) adjusted for non-cash (gain) loss on derivative instruments, net, (gain) loss on extinguishment of debt, if any, merger and integration expense, other non-cash transactions and related income tax adjustments, if any. The Company’s computation of adjusted net income may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts. Management believes adjusted net income helps investors in the oil and natural gas industry to measure and compare the Company’s performance to other oil and natural gas companies by excluding from the calculation items that can vary significantly from company to company depending upon accounting methods, the book value of assets and other non-operational factors. Further, in order to allow investors to compare the Company’s performance across periods, the Company excludes the effects of significant transactions that may affect earnings but are unpredictable in nature, timing and amount, although they may recur in different reporting periods.

    The following table presents a reconciliation of the GAAP financial measure of net income (loss) attributable to Diamondback Energy, Inc. to the non-GAAP measure of adjusted net income:

    Diamondback Energy, Inc.
    Adjusted Net Income
    (unaudited, $ in millions except per share data, shares in thousands)
               
      Three Months Ended
    December 31, 2024    		   Year Ended
    December 31, 2024
      Amounts   Amounts Per
    Diluted
    Share    		   Amounts   Amounts Per
    Diluted
    Share
    Net income (loss) attributable to Diamondback Energy, Inc.(1) $ 1,074     $ 3.67     $ 3,338     $ 15.53  
    Net income (loss) attributable to non-controlling interest   216       0.74       363       1.70  
    Net income (loss)(1)   1,290       4.41       3,701       17.23  
    Non-cash (gain) loss on derivative instruments, net   (51 )     (0.17 )     (188 )     (0.88 )
    (Gain) loss on extinguishment of debt   —       —       (2 )     (0.01 )
    Merger and integration expense   30       0.10       303       1.42  
    Other non-cash transactions   2       —       (62 )     (0.29 )
    Adjusted net income excluding above items(1)   1,271       4.34       3,752       17.47  
    Income tax adjustment for above items   2       0.01       (9 )     (0.04 )
    Adjusted net income(1)   1,273       4.35       3,743       17.43  
    Less: Adjusted net income attributable to non-controlling interest   206       0.71       183       0.86  
    Adjusted net income attributable to Diamondback Energy, Inc.(1) $ 1,067     $ 3.64     $ 3,560     $ 16.57  
                   
    Weighted average common shares outstanding:              
    Basic     291,851           213,545  
    Diluted     291,851           213,545  

    (1) The Company’s earnings (loss) per diluted share amount has been computed using the two-class method in accordance with GAAP. The two-class method is an earnings allocation which reflects the respective ownership among holders of common stock and participating securities. Diluted earnings per share using the two-class method is calculated as (i) net income attributable to Diamondback Energy, Inc, (ii) less the reallocation of $4 million and $21 million in earnings attributable to participating securities for the three months ended December 31, 2024 and the year ended December 31, 2024, respectively, (iii) divided by diluted weighted average common shares outstanding for the respective periods.

    OPERATING CASH FLOW BEFORE WORKING CAPITAL CHANGES AND FREE CASH FLOW

    Operating cash flow before working capital changes, which is a non-GAAP financial measure, represents net cash provided by operating activities as determined under GAAP without regard to changes in operating assets and liabilities. The Company believes operating cash flow before working capital changes is a useful measure of an oil and natural gas company’s ability to generate cash used to fund exploration, development and acquisition activities and service debt or pay dividends. The Company also uses this measure because changes in operating assets and liabilities relate to the timing of cash receipts and disbursements that the Company may not control and may not relate to the period in which the operating activities occurred. This allows the Company to compare its operating performance with that of other companies without regard to financing methods and capital structure.

    Free Cash Flow, which is a non-GAAP financial measure, is cash flow from operating activities before changes in working capital in excess of cash capital expenditures. The Company believes that Free Cash Flow is useful to investors as it provides measures to compare both cash flow from operating activities and additions to oil and natural gas properties across periods on a consistent basis as adjusted for non-recurring tax impacts from divestitures, merger and integration expenses, the early termination of derivative contracts and settlements of treasury locks. These measures should not be considered as an alternative to, or more meaningful than, net cash provided by operating activities as an indicator of operating performance. The Company’s computation of Free Cash Flow may not be comparable to other similarly titled measures of other companies. The Company uses Free Cash Flow to reduce debt, as well as return capital to stockholders as determined by the Board of Directors.

    The following tables present a reconciliation of the GAAP financial measure of net cash provided by operating activities to the non-GAAP measure of operating cash flow before working capital changes and to the non-GAAP measure of Free Cash Flow:

    Diamondback Energy, Inc.
    Operating Cash Flow Before Working Capital Changes and Free Cash Flow
    (unaudited, in millions)
                   
      Three Months Ended December 31,   Year Ended December 31,
        2024       2023       2024       2023  
    Net cash provided by operating activities $ 2,341     $ 1,624     $ 6,413     $ 5,920  
    Less: Changes in cash due to changes in operating assets and liabilities:              
    Accounts receivable   (103 )     147       (42 )     (71 )
    Income tax receivable   (3 )     16       9       283  
    Prepaid expenses and other current assets   (24 )     (94 )     54       (89 )
    Accounts payable and accrued liabilities   114       11       (376 )     57  
    Income taxes payable   138       (9 )     87       (5 )
    Revenues and royalties payable   59       (16 )     168       123  
    Other   (100 )     10       4       (2 )
    Total working capital changes   81       65       (96 )     296  
    Operating cash flow before working capital changes   2,260       1,559       6,509       5,624  
    Drilling, completions, infrastructure and midstream additions to oil and natural gas properties   (933 )     (649 )     (2,867 )     (2,701 )
    Total Cash CAPEX   (933 )     (649 )     (2,867 )     (2,701 )
    Free Cash Flow   1,327       910       3,642       2,923  
    Tax impact from divestitures(1)   —       —       —       64  
    Merger and integration expenses   30       —       303       —  
    Early termination of derivatives   —       —       37       —  
    Treasury locks   —       —       25       —  
    Adjusted Free Cash Flow $ 1,357     $ 910     $ 4,007     $ 2,987  

    (1) Includes the tax impact for the disposal of certain Midland Basin water assets and Delaware Basin oil gathering assets.

    NET DEBT

    The Company defines the non-GAAP measure of net debt as total debt (excluding debt issuance costs, discounts, premiums and unamortized basis adjustments) less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total debt, the most directly comparable GAAP measure. Management uses net debt to determine the Company’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. The Company believes this metric is useful to analysts and investors in determining the Company’s leverage position because the Company has the ability to, and may decide to, use a portion of its cash and cash equivalents to reduce debt.

    Diamondback Energy, Inc.
    Net Debt
    (unaudited, in millions)
                           
      December 31,
    2024    		   Net Q4
    Principal
    Borrowings/
    (Repayments)    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
      (in millions)
    Diamondback Energy, Inc.(1) $ 12,069     $ (215 )   $ 12,284     $ 11,169     $ 5,669     $ 5,697  
    Viper Energy, Inc.(1)   1,091       261       830       1,007       1,103       1,093  
    Total debt   13,160     $ 46       13,114       12,176       6,772       6,790  
    Cash and cash equivalents   (161 )         (370 )     (6,908 )     (896 )     (582 )
    Net debt $ 12,999         $ 12,744     $ 5,268     $ 5,876     $ 6,208  

    (1)  Excludes debt issuance costs, discounts, premiums and unamortized basis adjustments.

    DERIVATIVES

    As of February 21, 2025, the Company had the following outstanding consolidated derivative contracts, including derivative contracts at Viper Energy, Inc. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and Crude Oil Brent pricing and with natural gas derivative settlements based on the New York Mercantile Exchange Henry Hub pricing. When aggregating multiple contracts, the weighted average contract price is disclosed.

      Crude Oil (Bbls/day, $/Bbl)
      Q1 2025     Q2 2025     Q3 2025     Q4 2025     FY2026  
    Long Puts – Crude Brent Oil 52,000     48,000     27,000     12,000     —  
    Long Put Price ($/Bbl) $60.00     $58.44     $56.85     $55.00     —  
    Deferred Premium ($/Bbl) $-1.48     $-1.50     $-1.54     $-1.56     —  
    Long Puts – WTI (Magellan East Houston) 83,000     86,000     72,000     35,000     —  
    Long Put Price ($/Bbl) $55.84     $55.12     $55.00     $55.00     —  
    Deferred Premium ($/Bbl) $-1.59     $-1.58     -1.60     $-1.62     —  
    Long Puts – WTI (Cushing) 142,000     137,000     101,000     41,000     —  
    Long Put Price ($/Bbl) $56.58     $55.58     $55.00     $55.00     —  
    Deferred Premium ($/Bbl) $-1.59     $-1.58     $-1.58     $-1.61     —  
    Costless Collars – WTI (Cushing) 13,000     —     —     —     —  
    Long Put Price ($/Bbl) $60.00     —     —     —     —  
    Short Call Price ($/Bbl) $89.55     —     —     —     —  
    Basis Swaps – WTI (Midland) 64,000     66,000     66,000     66,000     —  
    $1.09     $1.05     $1.05     $1.05     —  
    Roll Swaps – WTI 16,389     25,000     25,000     25,000     —  
    $0.93     $0.93     $0.93     $0.93     —  
      Natural Gas (Mmbtu/day, $/Mmbtu)
      Q1 2025   Q2 2025   Q3 2025   Q4 2025   FY 2026   FY 2027  
    Costless Collars – Henry Hub 750,000     690,000     690,000     690,000     500,000     —  
    Long Put Price ($/Mmbtu) $2.52     $2.49     $2.49     $2.49     $2.64     —  
    Ceiling Price ($/Mmbtu) $5.26     $5.28     $5.28     $5.28     $6.31     —  
    Natural Gas Basis Swaps – Waha Hub 670,000     610,000     610,000     610,000     230,000     200,000  
    $-0.82     $-0.84     $-0.84     $-0.84     $-1.41     $-1.42  

    Investor Contact:
    Adam Lawlis
    +1 432.221.7467
    alawlis@diamondbackenergy.com

    The MIL Network –

  • MIL-OSI Europe: G7 Leaders’ video conference meeting

    Source: Government of Italy (English)

    24 Febbraio 2025

    The President of the Council of Ministers, Giorgia Meloni, attended today’s video conference of G7 leaders, organised by the Group’s current Canadian Presidency on the third anniversary of Russia’s aggression against Ukraine. President Meloni reiterated that Italy’s priority is to build a just and lasting peace, together with European and Western partners and together with Ukraine. This prospect of peace is possible today thanks to the heroic resistance of the Ukrainian people and Western support, which has never faltered over the last three years, and it must be based on the definition of real and effective security guarantees. Italy has been there over these three difficult years, and will continue to be, together with the rest of Europe and the West, for a future of sovereignty, prosperity and, above all, freedom.

    MIL OSI Europe News –

  • MIL-OSI Canada: Prime Minister Justin Trudeau meets with Prime Minister of Spain Pedro Sánchez

    Source: Government of Canada – Prime Minister

    Today, Prime Minister Justin Trudeau met with the Prime Minister of Spain, Pedro Sánchez, in Kyiv, Ukraine, where they joined other world leaders to mark three years since the start of Russia’s full-scale invasion of Ukraine.

    The prime ministers discussed their unwavering support for a just and sustainable peace in Ukraine, stressing that any peaceful end to the conflict must include Ukraine at the negotiating table. Prime Minister Trudeau reiterated that Ukraine’s long-term interests and security must be guaranteed as part of any outcome of negotiations.

    The leaders also shared their concern over the ongoing crisis in Venezuela, including the Maduro regime’s persistent disregard for the principles of democratic governance, rule of law, and human rights.

    Prime Minister Trudeau and Prime Minister Sánchez agreed to stay in touch and to continue working together on shared priorities, including in the areas of climate action and multilateralism.

    Associated Links

    MIL OSI Canada News –

  • MIL-OSI USA: NASA Names Acting Associate Administrator, More Leadership Changes

    Source: NASA

    NASA acting Administrator Janet Petro announced Monday Vanessa Wyche will serve as the acting associate administrator for the agency at NASA Headquarters in Washington, effective immediately. Wyche, who had been the director of NASA’s Johnson Space Center in Houston, is detailed as Petro’s senior advisor leading the agency’s center directors and mission directorate associate administrators. She will act as the agency’s chief operating officer for about 18,000 civil servant employees and an annual budget of more than $25 billion. Stephen Koerner will become the acting center director of NASA Johnson.
    The agency also named Jackie Jester as associate administrator for the Office of Legislative and Intergovernmental Affairs and announced Catherine Koerner, associate administrator for the agency’s Exploration Systems Development Mission Directorate will retire effective Friday, Feb. 28. Lori Glaze, currently the deputy associate administrator for Exploration Systems Development will become the mission directorate’s acting associate administrator.
    “As we continue to advance our mission, it’s crucial that we have strong, experienced leaders in place,” Petro said. “Vanessa will bring exceptional leadership to NASA’s senior ranks, helping guide our workforce toward the opportunities that lie ahead, while Steve will continue to provide steadfast leadership at NASA Johnson. Jackie’s return to the agency will ensure we remain closely aligned with national priorities as we work with Congress. Cathy’s legacy is one of unwavering dedication to human spaceflight, and we are grateful for her years of service. Lori’s leadership will continue to build on that legacy as we push forward in our exploration efforts. These appointments reflect NASA’s unwavering commitment to excellence, and I have full confidence that each of these leaders will carry our vision forward with purpose, integrity, and a relentless drive to succeed.”
    Prior to her new role, Wyche was the director NASA Johnson – home to America’s astronaut corps, Mission Control Center, International Space Station, Orion and Gateway Programs, and its more than 11,000 civil service and contractor employees. Her responsibilities included a broad range of human spaceflight activities, including development and operation of human spacecraft, NASA astronaut selection and training, mission control, commercialization of low Earth orbit, and leading NASA Johnson in exploring the Moon and Mars.
    During her 35-year career, Wyche has served in several leadership roles, including Johnson’s deputy center director, director of Exploration Integration and Science Directorate, flight manager of several Space Shuttle Program missions, and executive officer in the Office of the Administrator. A native of South Carolina, Wyche earned a Bachelor of Science in Engineering and Master of Science in Bioengineering from Clemson University. 
    As deputy director of NASA Johnson, Stephen Koerner, oversaw strategic workforce planning, serves as the Designated Agency Safety Health Officer, and supported the Johnson center director in mission reviews. Before his appointment in July 2021, Koerner held various leadership roles at NASA Johnson, including director of the Flight Operations Directorate, associate director, chief financial officer, deputy director of flight operations, and deputy director of mission operations.
    In her new role as the associate administrator for the Office of Legislative and Intergovernmental Affairs, Jester will direct a staff responsible for managing and coordinating all communication with the U.S. Congress, as well as serve as a senior advisor to agency leaders on legislative matters.  
    Jester rejoins the agency after serving as the senior director for government affairs at Relativity Space’s Washington office where she led policy engagement for the company. Prior to her time with Relativity, she served as a policy advisor at NASA and at the White House Office of Science and Technology Policy. She has served as a professional staff member for the U.S. Senate Committee on Commerce, Science, and Transportation. She has spent time in state government as the Chief Legislative Aide to a member of the Massachusetts House of Representatives. Jester has significant experience advising on space policy issues, aviation operations and safety policy, and has helped develop numerous pieces of legislation.
    With a 34-year career at NASA, Catherine Koerner has been instrumental in leading NASA’s Exploration Systems Development Mission Directorate, overseeing the development of the agency’s deep space exploration approach. Previously, she was the deputy associate administrator for the mission directorate. Her extensive career at NASA includes roles such as the Orion program manager, director of the Human Health and Performance Directorate, former NASA flight director, several leadership positions within the International Space Station Program during its assembly phase and helping to foster a commercial space industry in low Earth orbit.
    Glaze has a distinguished background in planetary science, previously serving as the director of NASA’s Planetary Science Division before joining Explorations Systems Development. Prior to her tenure at NASA Headquarters in Washington, she was the chief of the Planetary Geology, Geophysics and Geochemistry Laboratory at NASA’s Goddard Space Flight Center in Greenbelt, Maryland, and the Deputy Director of Goddard’s Solar System Exploration Division. She has been a leading advocate for Venus exploration, serving as the principal investigator for the Deep Atmosphere Venus Investigation of Noble gases, Chemistry, and Imaging mission. Glaze earned her Bachelor of Arts and Master of Science degrees in Physics from the University of Texas at Arlington and a doctorate in Environmental Science from Lancaster University in the United Kingdom. Her prior experience includes roles at the Jet Propulsion Laboratory and at Proxemy Research as Vice President and Senior Research Scientist.
    For more about NASA’s missions, visit:

    Home Page

    -end-
    Amber Jacobson / Kathryn HambletonHeadquarters, Washington202-358-1600amber.c.jacobson@nasa.gov / kathryn.a.hambleton@nasa.gov

    MIL OSI USA News –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 24.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    24 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 24.02.2025

    Espoo, Finland – On 24 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,317,492 4.75
    CEUX – –
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,317,492 4.75

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 24 February 2025 was EUR 6,260,063. After the disclosed transactions, Nokia Corporation holds 257,147,700 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI USA: McConnell on Three-Year Anniversary of Russia’s Escalation in Ukraine

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell
    Washington, D.C. – U.S. Senator Mitch McConnell (R-KY) issued the following statement today regarding the three-year anniversary of Russia’s escalation in Ukraine:
    “Three years ago today, as Russia escalated its unprovoked 2014 invasion and occupation of Ukraine, I predicted that the world would watch closely how the United States responded. Foes would search for signs of weakness, and friends would hope for signs of strength. I shared this hope – and have worked hard to help realize it – but have more often shared disappointment in costly failures.
    “For years, even as Ukraine’s brave defense of its sovereignty exceeded expectations, America’s response under President Biden was a sluggish, piecemeal affair constantly plagued by self-deterring fears of Russian escalation. Time and time again, the previous Administration squandered opportunities for decisive battlefield impact by withholding critical weapons from Ukraine until political pressure forced its hand.
    “Meanwhile, this terrible conflict has driven many European NATO allies to make long-overdue investments in defense industrial capacity. Over the past three years, Europe’s aid commitments to Ukraine have more than doubled the United States’. Today, the trans-Atlantic alliance looks with greater suspicion at the influence of Putin’s strategic partner in Beijing.
    “Likewise, from the other side of the globe, Indo-Pacific allies recognize that Russian success in Ukraine will encourage the PRC’s own ‘special military operations’ and coordinated aggression across their region. They’ve left little room for doubt – by vocal and material support for Ukraine – that the consequences of Western weakness would be global. If America’s primary strategic objective is deterring Chinese aggression, it is difficult to imagine a more self-defeating step than the willful alienation of the allies we will need to accomplish it, in Europe and Asia, alike.
    “But even as America’s allies see our interests converging and the most successful military alliance in the history of the world restores its commitments to hard power, the previous Administration’s shameful hesitation and half-measures threaten to give way to something even more disgraceful: the obstinate denial of America’s security interest in Ukraine’s success. Refusing to acknowledge Russia as the undeniable and unprovoked aggressor is more than an unseemly moral equivalency – it reflects a gross misunderstanding of the nature of negotiations and leverage.
    “Blame for this human catastrophe rests solely on Vladimir Putin. Here’s how we know: If Russian forces laid down their arms, Europe would be at peace. If Ukrainian forces laid down theirs, Putin’s aims would not stop with Kyiv. Mistaking this fact is as embarrassing as it is costly.
    “‘Peace for our time’ is a noble end, but hope that appeasement will check the ambitions of this aggressor is as naïve today as it was in 1939. America is right to seek an end to this war, but an end that fails to constrain Russian ambition, ensure Ukrainian sovereignty, or strengthen American credibility with both allies and adversaries is no end at all. Instead, such a hollow peace would invite further aggression.
    “Today, an axis of aggressors from Beijing to Moscow seeks an outcome in Ukraine that undermines the credibility of American deterrence and leaves U.S. interests more vulnerable. Without a clear and resolute commitment to the leadership and order that underpins our prosperity and security, America’s adversaries will receive exactly what they hope for. There is no question that the entire world is watching.”

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – Public procurement and EU international agreements following CJEU case C-652/22 – P-000725/2025

    Source: European Parliament

    Priority question for written answer  P-000725/2025
    to the Commission
    Rule 144
    Jana Nagyová (PfE), Klara Dostalova (PfE), Ondřej Knotek (PfE), Ondřej Kovařík (PfE), Ondřej Krutílek (ECR)

    Judgment of the Court of Justice of the European Union (CJEU) of 22 October 2024 issued in case C-652/22 Kolin Inşaat Turizm Sanayi ve Ticaret[1] concludes that a supplier from a third country that has not concluded an international agreement with the European Union in the field of public procurement cannot claim equal treatment in the field of public procurement in an EU Member State.

    Currently, there is no published list of such agreements on the EU level. This means that contracting authorities will have to address individually the complex question of whether a given entity is covered by any of the international agreements and whether the given agreement can be accepted or not.

    This situation can significantly prolong the procurement procedure and can be a potential source of further legal issues.

    • 1.Will the Commission prepare and publish a list of third countries with which the EU has concluded an international agreement guaranteeing reciprocal and equal access to public procurement markets, ideally with a statement of the specific agreements?
    • 2.If not, how can contracting authorities access relevant and valid information?

    Supporter[2]

    Submitted: 18.2.2025

    • [1] ECLI:EU:C:2024:910.
    • [2] This question is supported by a Member other than the authors: Kateřina Konečná (NI)
    Last updated: 24 February 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Children’s series like CoComelon and PAW Patrol are harmful for children’s development – E-000563/2025

    Source: European Parliament

    Question for written answer  E-000563/2025
    to the Commission
    Rule 144
    Liesbet Sommen (PPE)

    Over the past decade, children’s screen time has doubled. Children aged 0 to 6 spend an average of 99 minutes behind a screen every single day. Series such as CoComelon and PAW Patrol are addictive and have a negative impact on toddlers’ linguistic and social development. The videos are designed with bright colours, sounds and rapidly changing images, and are tested by placing children in front of two screens: one with the series and one with regular images. As the children look away, the videos are adjusted to make them more addictive.

    These stimuli can lead to overstimulation and the release of stress hormones such as cortisol. Dopamine triggers the reward system, which can in turn lead to addiction. Children become accustomed to constant rewards. This can also affect brain development. Research shows that more screen time at age 1 is associated with delays in communication and problem-solving skills.

    • 1.Is the European Commission aware of these issues?
    • 2.Does the Digital Services Act (DSA) allow the design of programmes that exploit minors’ weaknesses or lead to addictive behaviour and will the Commission investigate this?
    • 3.Can research be carried out on this issue as part of the health or culture clusters under Horizon Europe?

    Submitted: 7.2.2025

    Last updated: 24 February 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Harmonisation of cargo securing regulations – E-000565/2025

    Source: European Parliament

    Question for written answer  E-000565/2025
    to the Commission
    Rule 144
    Liesbet Sommen (PPE)

    Annex 3 to Directive 2014/47/EU on roadside inspection covers the securing of cargo (cargo securing). However, the directive merely constitutes a recommendation and not an obligation. This has resulted in some countries transposing it in full, others only partially and some not at all. These differences mean that different parties are treated differently, especially carriers, and there is an increased risk of accidents and work-related injuries for drivers.

    Within Europe, there is a lot of intermodal traffic, with loads often leaving in CTUs (containers) or vehicle units (semi-trailers) that remain the same from start to finish. Because of the large number of cross-border transportations, there is no uniformity with regard to how to secure cargo or what regulations loading units must comply with to be fit for transport. This leads to strange situations, for example, where goods are allowed to be transported in France but are stopped in Belgium.

    Questions:

    • 1.Does the European Commission recognise that this issue hinders the free movement of goods in the internal market?
    • 2.Will the revision of Annex 3 make the inclusion of cargo securing regulations a legal requirement?
    • 3.Will there be more harmonisation to avoid strange situations and fines in cross-border transportation, and could generally valid physical formulae be used instead of the current multitude of standards (such as EUMOS, VDI, DIN)?

    Submitted: 7.2.2025

    Last updated: 24 February 2025

    MIL OSI Europe News –