On June 23, Viper Energy Partners LP, a subsidiary of Diamondback Energy Inc. (NASDAQ: FANG) said with Diamondback in a press release that it closed its IPO priced at $130 million.
Viper had offered about 5.7 million common units, representing limited partner interests, at $26 each, the press release said. This amount included 750,000 units that were part of the underwriters’ overallotment option, the release added.
The common units sold to the public represent about 8% limited partner interest in Viper. Diamondback owns the remaining limited partner interest in Viper and its general partner, about 92%, the release said.
Viper will give the net proceeds to Diamondback, the press release said.
Barclays Plc (NYSE: BCS), Credit Suisse (NYSE: CS) and Wells Fargo Securities LLC were joint book-running managers for the offering, the release said. Baird, Raymond James, Scotiabank/Howard Weil, Simmons & Co.International, Stifel and Tudor, Pickering, Holt & Co. were senior co-managers. Northland Capital Markets, Sterne Agee and Wunderlich Securities were also co-managers, the release said.
Diamondback Energy Inc., based in Midland, Texas, formed Viper Energy Partners LP for Permian Basin operations, where it also operates.
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