Viper Energy Partners paying $1B for mineral and royalty interests in the Permian Basin
Viper Energy Partners LP (VNOM) said Tuesday it agreed to pay about $1 billion in cash and stock to buy mineral and royalty interests in the Permian Basin from Warwick Capital Partners and GRP Energy Capital. Payment for the deal includes $750 million in cash and 9.02 million shares of Viper Energy Partners, which closed Friday at $28.35 a share. Diamondback Energy Inc. (FANG), which owns Viper Energy, has committed $200 million of equity to the deal, as well as expected proceeds from one or more capital markets transactions, including potential bond offerings. Viper Energy Partners stock is down 10.8% in 2023, compared to a 17.6% gain by the S&P 500 . Diamond Energy stock is up 13.1% year-to-date.
-Steve Gelsi
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09-05-23 0640ET
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