Merger Links

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

Announced

Transaction Tags

  • United States
  • mineral interests
  • Integrated Oil and Gas
  • Acquisition
  • Majority
  • Private Equity
  • Pending
  • Single Bidder
  • Cross Border
  • Private
  • Friendly

Synopsis

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.

Sources

Press Release

Viper

Transaction Value

£594m

Consideration Type

Cash

Capital Owned

+ Add

Capital bid for

100%

EV/Sales

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EV/EBITDA

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Share Price Premium

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Service Providers (4)Dealmakers
Barclays

financial advisors

Barclays

Kirkland & Ellis

legal advisors

Kirkland & Ellis

Evercore

financial advisors

Evercore

Akin Gump Strauss Hauer & Feld

legal advisors

Akin Gump Strauss Hauer & Feld

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