Diamondback’s Viper Subsidiary Continues Growth Spurt With Santa Elena Deal

The all-equity deal follows an already blockbuster year for Viper Energy Partners including the $700 million dropdown acquisition the company announced in July.
 

Diamondback’s Viper Subsidiary Continues Growth Spurt With Santa Elena Deal

The Santa Elena acquisition comprises 1,358 net royalty acres across two ranches primarily in Glasscock and Martin counties, Texas. (Source: Shutterstock.com)

The mineral acquisition business of Permian Basin powerhouse Diamondback Energy Corp. continued its deal streak with a multimillion-dollar acquisition of Permian Basin assets on Sept. 13.

Viper Energy Partners LP, subsidiary of Midland, Texas-based Diamondback, agreed to acquire certain mineral and royalty interests from private-equity backed Santa Elena Minerals LP in an all-equity transaction valued at $150 million, according to the company release.

The deal follows an already blockbuster year for Viper including the $700 million dropdown acquisition the company announced in July.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.