Viper paid for the acquisition with $459 million in cash and 10.1 million OpCo units. (Source: Shutterstock/ Viper Energy)
Diamondback Energy subsidiary Viper Energy has closed a previously announced acquisition of Midland Basin mineral and royalty interests for roughly $915 million, Viper said on Oct. 1.
Viper agreed in September to acquire the mineral and royalty-owning subsidiaries of Tumbleweed Royalty IV LLC. Tumbleweed was founded in 2014 by Cody Campbell and John Sellers, the co-executives behind Permian E&P Double Eagle Energy.
Combined with other recent deals with Tumbleweed, Viper has acquired about $1.1 billion from Tumbleweed and its affiliates.
YOU’VE REACHED YOUR FREE STORY LIMIT.
Sign Up to Continue Reading for Free.
Gain access to limited free articles, energy news and analysis, exclusive interviews, and newsletters.
No credit card required. You agree to our Privacy Policy.
Recommended Reading
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
Silver Hill Closes Fourth Oil, Gas Fund with $1.13B in Commitments
2024-07-31 - Silver Hill’s portfolio consists of operations across 55,000 net acres in East Texas and North Louisiana and 86,000 net acres in North Dakota.
Aethon, Murphy Refinance Debt as Fed Slashes Interest Rates
2024-09-20 - The E&Ps expect to issue new notes toward redeeming a combined $1.6 billion of existing debt, while the debt-pricing guide—the Fed funds rate—was cut on Sept. 18 from 5.5% to 5%.
Souki’s Saga: How Tellurian Escaped Ruin with ‘The Pause,’ $1.2B Exit
2024-09-11 - President Biden’s LNG pause in January suddenly made Tellurian Inc.’s LNG export permit more valuable. The company’s July sale marked the end of an eight-year saga—particularly the last 16 months, starting with when its co-founder lost his stock, ranch and yacht in a foreclosure.
ISS, Glass Lewis Push Crescent, SilverBow Shareholders to Vote for Merger
2024-07-19 - Proxy Advisory firms Institutional Shareholder Services and Glass Lewis also recommend that Crescent Energy shareholders vote for the approval of the issuance of shares on Crescent Class A common stock.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.