VIPER ENERGY PARTNER

VNOM
Delayed Quote. Delayed  - 12/08 04:00:01 pm
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Viper Energy Partners LP entered into a definitive purchase and sale agreement to acquire Certain mineral and royalty interests in Northern Midland Basin from Swallowtail Royalties LLC and Swallowtail Royalties II LLC for approximately $500 million.

08/09/2021 | 12:00am
Viper Energy Partners LP (NasdaqGS:VNOM) entered into a definitive purchase and sale agreement to acquire Certain mineral and royalty interests in Northern Midland Basin from Swallowtail Royalties LLC and Swallowtail Royalties II LLC for approximately $500 million on August 9, 2021. Pursuant to the terms of the agreement, Viper Energy Partners LP shall pay $225 million in cash in addition to its 15.25 million units, subject to customary adjustments. The cash portion of this transaction is expected to be funded through a combination of cash on hand and Viper Energy Partners LP’s existing borrowing capacity under its revolving credit facility. The transaction is subject to continued diligence and closing conditions, and has an effective date of August 1, 2021 with closing anticipated by early Q4 2021. The transaction is expected to be accretive to near-term cash available for distribution per common unit and anticipated to grow significantly over time as a result of accelerated development by Diamondback Energy, Inc., parent company of Viper Energy Partners LP. Stephen M. Boone Jr., John Goodgame, Alison L. Chen and Haidee L. Schwartz of Akin Gump Strauss Hauer & Feld LLP acted as legal advisor to Viper Energy Partners LP, whereas Thomas Laughlin, Rhett Van, Kyle Watson, Michael Wayne Rigdon and Mark Dundon of Kirkland & Ellis LLP acted as legal advisor to Swallowtail Royalties LLC and Swallowtail Royalties II LLC.
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