Viper Energy Partners to acquire Santa Elena Minerals for $150m.

Viper Energy Partners, a limited partnership formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, agreed to acquire certain mineral and royalty interests from Santa Elena Minerals for $150m. “Viper’s announced acquisition of primarily Diamondback-operated properties, which will be immediately accretive upon closing, further distinguishes Viper’s business model in the minerals market due to the clear visibility into future development of this acreage. This acquisition is another step in Viper’s strategy to continue to consolidate the fragmented private minerals market in the Permian Basin, both through our normal ground game of smaller deals, as well as larger acquisitions such as this deal announced today. Viper continues to use its size, scale and expertise to accumulate Tier 1 acreage, and we believe there remain significant opportunities ahead for us to continue this consolidation, which will supplement the robust production growth of our existing asset base.” Travis Stice, Chief Executive Officer of Viper’s general partner.