Diamondback-backed Viper to acquire mineral and royalty interests from Warwick Capital Partners and GRP Energy Capital for $750m.

Diamondback-backed Viper, an oil exploration firm, agreed to acquire mineral and royalty interests from Warwick Capital Partners, a private equity firm, and GRP Energy Capital, a private equity firm, for $750m. “This acquisition of high quality mineral and royalty assets is a truly differentiated opportunity that represents a significant value proposition for Viper and its unitholders. The high confidence near-term production outlook results in meaningful and immediate accretion to all relevant financial metrics, including an estimated increase of 7-8% to our expected 2024 return of capital program. Equally as important, and what truly differentiates this opportunity, however, is both the quantity and quality of the undeveloped acreage position. Credit is due to the GRP Energy Capital team for building an asset of this size, scale and overall quality that cannot be replicated in the private minerals market today,” Travis Stice, Viper CEO.