Viper Energy completes acquisition of Riverbend Oil & Gas IX assets

Corporate Action
โดย Insider Monkey·Read original
Summary · why it matters

Viper Energy, a subsidiary of Diamondback Energy, has completed its acquisition of Riverbend Oil & Gas IX, LLC. The transaction involved the transfer of mineral and royalty interests to Viper in exchange for $337 million in cash and approximately 3.7 million shares of Viper's Class A common stock, subject to customary post-closing adjustments. The cash portion was financed through existing cash reserves and new borrowings under the company's credit facility. This acquisition marks a significant expansion of Viper's mineral and royalty holdings in North America, as it continues to focus on oil-weighted properties primarily in the Permian Basin.

Impact on stocks 2

Energy▲ · 2 stocks
Viper Energy Ut
VNOM
▲ PositiveCapitalrelevance

Viper Energy completed acquisition of mineral and royalty interests, expanding its Permian Basin holdings.

Diamondback Energy Inc
FANG
▲ PositiveCapitalrelevance

Viper Energy, a subsidiary, completed a $337M acquisition financed partly via credit facility, expanding its asset base.

Off-coverage companies 1

Riverbend Oil & Gas IX, L.L.C.Private▲ Positive
Capitalrelevance

Riverbend Oil & Gas IX was acquired by Viper Energy for cash and stock, providing an exit for its owners.

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