On June 17, Viper Energy Partners LP, a subsidiary of Diamondback Energy Inc. (NASDAQ: FANG) said with Diamondback that its IPO priced at $130 million.

In its IPO, Viper had offered 5 million common units, representing limited partner interests, at $26 each, the companies said.

The units began trading under the symbol “VNOM” on NASDAQ June 18, the companies said.

Viper offered a monthlong underwriters’ option to purchase an additional 750,000 units, the companies noted.

The IPO is scheduled to close June 23, they said.

When it is closed, the public will own units that represent 7% limited partner interest in Viper, and Diamondback will own the remaining 93%, the companies said. Diamondback will also own limited partner interest in Viper’s general partner, they added.

Viper will give the net proceeds—as well as proceeds from the underwriters’ option—to Diamondback, the companies said.

Barclays Plc (NYSE: BCS), Credit Suisse (NYSE: CS) and Wells Fargo Securities LLC are joint book-running managers. Baird, Raymond James, Scotiabank/Howard Weil, Simmons & Co. International, Stifel and Tudor, Pickering, Holt & Co. are senior co-managers, the companies added. Northland Capital Markets, Sterne Agee and Wunderlich Securities are also co-managers, they said.

Diamondback Energy Inc., based in Midland, Texas, formed Viper Energy Partners LP for Permian Basin operations, where it also operates.