Viper Energy Inc. announced the pricing of a secondary underwritten public offering of approximately 11.5 million shares of its Class A common stock being sold by its parent company Diamondback Energy Inc., Viper announced in a March 5 press release.
Viper will not receive any of the gross proceeds from the sale of the secondary offering, which will amount to $402.5 million. The secondary offering is expected to close on March 5, subject to customary closing conditions.
Diamondback granted the underwriters a 30-day option to purchase an additional 1.73 million shares of Viper's Class A common stock.
J.P. Morgan, Barclays, Evercore ISI and Goldman Sachs & Co. LLC are acting as joint book-running managers for the secondary offering.
BofA Securities, Capital One Securities, Comerica Securities, Pickering Energy Partners, Piper Sandler, PNC Capital Markets LLC, Raymond James, Roth Capital Partners, Scotiabank, Stifel and TPH&Co. are acting as co-managers of the secondary offering.
Recommended Reading
Triangle Energy, JV Set to Drill in North Perth Basin
2024-04-18 - The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.
TotalEnergies Cements Oman Partnership with Marsa LNG Project
2024-04-22 - Marsa LNG is expected to start production by first quarter 2028 with TotalEnergies holding 80% interest in the project and Oman National Oil Co. holding 20%.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
2024-04-22 - Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
TotalEnergies to Acquire Remaining 50% of SapuraOMV
2024-04-22 - TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.