Viper Energy Expands Permian Basin Footprint with Mineral and Royalty Interests
Viper Energy Partners, a subsidiary of Diamondback Energy, is set to acquire certain mineral and royalty interests in the Permian Basin from affiliates of Warwick Capital Partners and GRP Energy Capital in a cash-and-stock deal worth approximately $1 billion. The acquisition will expand Viper's presence in the Permian Basin, where it holds the majority of its assets. The company expects the deal to increase its full-year production and plans to fund it through cash on hand, borrowings, committed equity from Diamondback, and capital market transactions. The transaction is expected to close in the fourth quarter.