Diamondback Energy Inc.’s acquisition machine in the mineral space seems to be running at a breathtaking pace so far this year.
In the third quarter alone, deal-making by Viper Energy Partners LP, subsidiary of Diamondback, totaled over $1 billion of closed or committed acquisitions. Pro forma for all recent transactions, Viper’s acreage position now represents 23,990 net royalty acres, up from 15,870 net royalty acres as of June 30. About half of the acreage is operated by Diamondback.
“To date in 2019, our acquisition machine has now acquired over 9,000 net royalty acres for approximately $1.2 billion across more than 100 transactions, and importantly, we have more than doubled our exposure to Diamondback-operated properties,” Diamondback CEO Travis Stice said in a statement on Oct. 7.