If nothing else, Diamondback Energy Inc. (NASDAQ: FANG) has a nearly endless list of names for possible subsidiaries.
Named for a rattlesnake, the company’s offshoot Viper Energy Partners LP (VNOM) is proving to be formidable. Viper holds FANG’s mineral interests and could create more than $1 billion in value in an IPO, analysts said.
Viper holds mineral interests underlying about 14,804 gross (12,687 net) acres in Midland County, Texas, which are operated by FANG and RSP Permian Inc. (NYSE: RSPP).
“While shares have outperformed recently ahead of the potential IPO, ...