$1 billion Permian Basin acquisition announced by Viper Energy Partners


A nearly $1 billion deal in the Permian Basin means a major expansion for Viper Energy of Midland, Texas.

Viper is a subsidiary of Diamondback Energy and is acquiring leased land and other assets from Warwick Capital Partners and GRP Energy. The land is located in both the western Delaware and eastern Midland sub-basins.

For the assets, Viper agreed to pay $750 million along with 9.02 million in common stock units, totaling more than $1 billion in cash and stock, according to the company’s latest financial report. The acquisition involves about 8,000 acres.

Click here for Carlsbad Current-Argus