Diamondback Energy’s Viper Closes Swallowtail Royalties Acquisition

Viper Energy Partners previously announced the acquisition agreement in August of certain mineral and royalty interests from Swallowtail Royalties in a cash-and-stock transaction estimated to be worth nearly $500 million.

Hart Energy Staff

Viper Energy Partners LP completed its previously announced acquisition of Swallowtail Royalties on Oct. 1 in a cash-and-stock transaction estimated to be worth nearly $500 million.

Based in Midland, Texas, Viper is a limited partnership formed by Permian operator Diamondback Energy Inc. to focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin.

In August, Viper announced it had entered an agreement for the acquisition of certain mineral and royalty interests from Swallowtail Royalties LLC and Swallowtail Royalties II LLC, portfolio companies of Blackstone Energy Partners, in exchange of 15.25 million common units representing limited partnership interests in Viper and approximately $225 million in cash.

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